The exponential spread of the new Coronavirus (COVID-19) has become one of the biggest threats to the global economy and financial markets. This pandemic has spread to more than 200 countries and territories as of today. It has wreaked havoc all around the globe including each individual, economy, businesses and jobs, and will change the way we approach things going forward. Besides the global recession we are heading into, businesses and governments will need to establish better disaster recovery protocols and continuity plans. It is now important to focus on how businesses will improve their IT strategies with process optimization during and after this global crisis and how robotic process automation (RPA) play a role in it.
With 85% of the RPA market still untapped, the economic slowdown will encourage all businesses to dive into automation.
How can a business maintain continuity against this battle?
RPA is a prime breeding ground for the change when it comes to cost saving and freeing up hours of valuable time. Though it comes with upfront investments in implementing the technology and requires third-party assistance, there are notable success stories in domains like banking, healthcare, customer service and human resource.
It can offer stability and reduce disruptions by enabling businesses to stay connected, maintain customer support in times of uncertainty. Furthermore, companies like UiPath and Automation Anywhere offer their RPA solutions, which are used by various organizations to provide effective solutions to their clients which is also implemented by Daas Labs. With RPA, organizations can delegate critical processes to automation without stressing about accuracy, time and cost. Companies that have implemented automation prior to this crisis, are likely to keep up their productivity by relying on automated office activities.
Some use cases of RPA are:
- Helping front-line health care supporters to automate COVID-19 tests, maintain clinical testing data, ordering medicine and other supplies.
- Supporting travel agencies and airlines to handle unprecedented calls and complaints and processing congested cancelled itineraries and refunds.
- Enabling banks to quickly process loan applications, claims and payments to help affected people.
- Tracking employee’s health to help companies remediate the situation.
- Managing logistics, order and supply inventory and hence avoid backlogs and delays in product delivery.
- Automating administrative tasks like reporting and compliance for existing and new programs with extensive management capabilities.
These are unprecedented times and the promise that automation holds for companies across industries is indisputable. Several other use cases have emerged and as the situation unfolds, and when it is expected to worsen before it gets better, RPA will further intensify and can be leading the battle against such exceptional situations.
Read more why you need RPA: https://daaslabs.ai/blog/why-you-should-adopt-rpa/
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