Robotic process automation, due to the COVID-19-related constraint, may make a substantial contribution to minimizing business disruption. Perhaps the most commonly implemented step among the safeguards intended to ensure population health in the current context is the change to remote work.
Many organizations take the rapid digital transition into account to better navigate the change. Scan through RPA ensures that operational efficiency is increased: better, quicker, and cheaper processes. If you would like more information on this topic, see our recent article on how the RPA enhances companies' preparedness to cope with crises.
The fact that COVID-19 would have significant implications for most areas of social and economic life is not disputed. However, it is also natural to wonder when the effects start to decrease, and thus, we should expect to return to normal. Or do we speak about a "new normal?"
If the possibility of further reinfection and associated limitations are only taken into account, healing would probably not go straight. This supports that what we now term the "standard" would be a very different way of interacting with and serving consumers, a growing awareness of the pandemic and the use of technical aid hands, and more-marked by a more nuanced overview of the economic environment.
As a result, companies that succeed would be sufficiently agile to adapt to a new economic order. Automation seems to be an aspect of this new order. In the aftermath of Bain survey, 84% of companies around the industry expect to take steps to accelerate automation initiatives, according to a recent Bain survey.
The figure is even more impressive for financial services-95%. After 60% of the workers at back-office were left to work, even during the early virus outbreak, financial companies relied on automation to help claims and revenue management.
Since after COVID-19 RPA will benefit you, it is now a critical ingredient for growth. Companies with an automation plan are far more likely to function more effectively and control the extra costs of the pandemic, create resilience, and handle remote work easily.
These context-specific cases should support the argument that RPA is indeed a central element of effective crisis management.
Using RPA after COVID-19 to win 'new standard.'
In times where the functional anchors of normalism are shifting, software robots will be business pivots that must be efficient. They will help you adapt and overcome the "new standard" in many ways, of which we have mentioned a few.
1. Increase receptivity to transition
Working with software robots is already a sort of operation, where human employees are expected to discharge a lot of their cognitive and behavioral routines. As a result, RPA enables people to remain open to new ways of behaving and respond flexibly to permanent changes.
Process-focused businesses-Amazon, Uber or Siemens-are actually among the most successful companies on the market, i.e., companies that actively strive for changes in procedures. Bots can also be seen as providing versatility because economic performance is about how much and how easily people can tailor to the new conditions.
2. The 'first moving advantage' RPA offers you
The benefit of first-mover is focused on dedicated digital action. This means scaling automation and AI technology such as corporate computer training, keeping digital growth stable, and allowing long-term strategic thinking.
A recent McKinsey research post-COVID has shown that almost half the world's leading economists rely on brand new digital deals than just a quarter of all others. Twenty-six percent of digital incumbents have purchased new digital companies for longer-term profitability from the perspective of the company portfolio without any short-term advantage.
3. Improved data protection
The growing use of on-line communication, primarily through social networking applications, is a noticeable result of COVID19-related physical distancing. The premature scaling of the amount of usage might result in additional security violations compared to pre-pandemic times.
RPA eliminates cyber-security threats by, for example, minimizing risk exposure by reducing time to respond to accidents and decreasing attack services through the introduction of safety controls when enforcement exceptions are found.
4. Supporting the remote workforce
Work from home has begun as a requirement determined by the metrics of social distance. Many workers were delighted and improved efficiency and flexibility, at least at the beginning. You can make use of RPA to make processes simplified, hence higher efficiency and to make people more connected despite the physical distance.
Take also into account automated status alerts, recalls, connections, etc. All this will lead to the concentrating of the staff on the problems to be addressed and to perspectives.
When you scale RPA at a corporate level, all of the advantages of automation get better. Whereas RPA helps you from the first steps of the automation process after the COVID-19, i.e., the pilot stage, scaling RPA is progressing further by standardizing its automation approach.