Practical Applications of Robotic Process Automation (RPA)
This article aims to illustrate some practical applications on the integration of Robotic Process Automation.
In the recent Deloitte Global RPA Survey, one of the survey’s key findings is that the benefits of RPA adoption are significant. Payback was reported at less than 12 months, with an average 20% of full-time equivalent (FTE) capacity provided by robots. RPA continues to meet and exceed expectations across multiple dimensions including: improved compliance (92%), improved quality / accuracy (90%), improved productivity (86%), cost reduction (59%).
Robotic Process Automation (RPA) also lessens the turnaround time (TAT) and improves accessibility.
Here are practical applications in specific industries to give you a concrete example of how RPA can improve the business process:
Healthcare: Streamline the Medical Billing Process
Through business process outsourcing, it is now possible for healthcare providers to outsource Medical Billling Specialists who are primarily tasked to reach out to respective insurance companies via inbound and outbound calling for collecting A/R claims, conduct claim audits, conduct patient calls and follow up on claims for Accounts Receivable, provide accounts creation and accurate data entry, update and maintain claims database, collaborate with other departments to process patient requests.
The tasks can also extend to participate in all quality assessment activities and assist to collect and analyze all information and recommend required improvements to all processes.
In the medical billing workflow, for example, there are several highly repetitive processes that can be automated.
Robotic Process Automation enables outsourced medical billing specialists to focus on their core functions and other value-adding activities. With RPA, it is possible to automate repetitive processes in the medical billing workflow such as:
- Accessing Database of Payments for posting
- Payment posting
- Check posted payments
- Input A/R payment
- Claims processing
There are business process outsourcing providers that have the technological capabilities to automate processes. Connext Global Solutions is one such provider that uses Robotic Process Automation to improve business processes.
Finance: Accurate Financial Reports Generation
One of the tasks of accountants in a business process outsourcing setup is to generate an accurate report. Depending on current operating workflow, this might mean a time-consuming process involving connecting to remote desktops, multiple cloud-based applications and an ETL (Export, Transform, Load) tool from each client’s remote desktop which would generate the most updated financial reports. Only when connected to the remote desktop can the accountants manually launch the cloud software to update the financial records, and then launch the ETL to sync the updated data. Once the sync is completed, accountants had to open
a data link viewer made from Crystal Reports to generate updated reports.
This technical and time-consuming process can be automated with the help of RPA.
Connext Global Solutions was able to integrate robotic Process Automation to streamline communication to the remote desktop and centralize the reporting platform, thus enabling efficient financial reports faster with greater accessibility.
Connext Global Solutions was able to improve business processes by integrating Robotic Process Automation to streamline reports generation. Connext quickly mapped the process and built the model to automate the data sync, reports generation, and centralization of
business functions into one platform.
This significantly improved cycle time and productivity when updating and generating reports. This resulted in a 50% overall improvement in reports generation cycle resulted in a reduction of labor cost, 30% percent fewer steps to complete the reports generation cycle. The implementation of Robotic Process Automation enabled advanced reporting and analysis and provided a significantly improved user experience due to less time needed to perform functions.
Improve Customer Experience with Connext Global Solutions
From the above practical applications, put simply, Business Process Outsourcing allows you competitive advantage: Implemented properly, Robotic Process Automation augments that advantage.
Partner and work with Connext Global Solutions Robotic Process Automation Experts – ConnextTECH to identify, build, deploy and maintain RPA integrations for you and improve user experience. Improve business processes with Connext today.