Robotic Process Automation (RPA)
Robotic process automation or RPA is software that carries out repetitive tasks that replicate human actions. Users can create instructions for a 'bot' to perform duties such as: -Retrieving and processing data for financial companies -Processing product returns for retailers -Streamlining claims and payment cycles for insurance providers -Automating prescription management for healthcare providers -Completing receivables and payables tasks for accountancy firms -Updating employee information and timesheets for human resources departments RPA uses automation, machine learning, and computer vision to complete rules-based tasks. A bot mimics the behavior of the human that programs it and then completes the same tasks manually.
What Small and Midsize Businesses Need to Know About Robotic Process Automation (RPA)
SMBs might benefit from RPA because this technology can reduce labor costs, lessen administrative workloads, and decrease human error.
Related terms
- PDM (Product Data Management)
- Project Management
- Gain Sharing
- Small and Midsize Business (SMB)
- Business Process Automation (BPA)
- Human Capital Management (HCM)
- Best Practice
- Business Process Management (BPM)
- Business Impact Analysis (BIA)
- Track And Trace
- Digital Business Transformation
- Bimodal
- Span of Control
- Solution
- Business Process Re-engineering (BPR)
- Enterprise Solutions
- Growth Strategy
- Project Management Office (PMO)
- Business Process Outsourcing (BPO)
- Line Of Business
