1.5 million each year—that's the number of requests a bank could handle after redesigning its claims process to use bots!1
Not to be confused with a cyborg hero with an impeccable shooting accuracy depicted in movies, though. We’re talking about software robots that replicate how humans would interact with an application, also known as Robotic Process Automation (RPA).
Imagine RPA being the arms and legs of a bot, and artificial intelligence (AI) as the brain. Over time, the AI gets more intelligent as the RPA feeds it with more data. Instead of just completing a programmed action, the RPA, with the help of AI and machine learning (ML), would determine what action to take based on data2.
How Fast is RPA Expanding its Adoption Across Industries?
- Global RPA revenue is projected to reach $1.89 billion this year, a 19.5% increase from 20203.
- 66% of companies surveyed by Forrester will increase their RPA software spend over the next 12 months. The participants included 270 decision makers from operations groups, shared services, finance, and other lines of business across the United States, United Kingdom, France, and Germany4.
RPA, as a catalyst for a broader digital transformation, is one of the key drivers for the rapid adoption of the said technology across companies and industries.
“Organizations generate the most value from RPA deployments when integrated with other digital technologies such as AI, machine learning, smart workflow tools, and digital assistants to drive end-to-end digital transformation,” says Siddhartha Sharad, director of IT at Pace Harmon, an advisory firm for business services transformation5.
Today, humans are no longer required for repetitive, dull, tedious, and time-consuming activities. Instead, they can focus and train on higher-level functions.
What are the other key benefits of implementing RPA?
- Increased throughput
- Reduced human error
- Improved processes
- Decreased costs and deployment times
- Quick and attractive ROI
- Increased precision, accuracy, and speed of information handling
- Easily translate information into knowledge
- Round-the-clock availability
- Ability to deploy in challenging environments
RPA in the Hi-Tech Sector
One example of an RPA implementation success story is when Juniper Networks, a provider of networking and cybersecurity solutions, partnered with Automation Anywhere to automate its billing portal process, add better process controls to reduce overall risks, and decrease the invoice submission turnaround time (TAT). Today, Juniper’s Accounts Receivables team has a digital workforce of software robots working 24/7 to submit invoices. By automatically triggering and uploading invoices to a customer portal every time a new order was delivered, Juniper automates the invoice submission process, matching order number, item, quantity, price, and tax, eliminating all intensive, high-volume, and error-prone manual tasks6.
While it may be known that the Hi-Tech sector is the primary driver in developing this promising technology, the fast-paced and digital nature of companies in this industry also makes them viable candidates for using RPA in their own operations.
Whether it be the physical supply chains of consumer electronics brands or the always-busy customer data highways of Software as a Service (SaaS) products, RPA offers a competitive edge to enterprises that are seeking added value to their business.
Here are other use cases for RPA in the High Technology industry:
- Automated software testing
- First tier of tech support automation
- Inventory and supply chain management
- Data migration, entry, and validation
- Data extraction from PDFs, scanned documents, and other formats
- Invoice processing
- ERP and CRM updating7
TaskUs: A Competitive Player in the RPA Field
As a reliable partner for disruptive companies, TaskUs has always been dedicated to delivering up-to-date solutions by blending the latest digital technologies with our superior operational excellence and customer service. RPA is one of those technologies that we continuously innovate to meet our clients’ ever-changing needs in the High Technology industry.
Staying true to our People-First commitment, we challenge the notion that RPA and automation threatens humans’ jobs. Instead, TaskUs embraces this as an opportunity to empower our Teammates, allowing them to upskill and innovate themselves, while the bots handle the mundane, repetitive tasks.
This is the value that TaskUs brings to the table when it comes to RPA. With innovative technologies and ridiculously talented humans working hand-in-hand, we strive to deliver the next generation of excellence to our clients.
Our capabilities in crafting customized solutions allow us to cater to the most specific cases. Here are a few examples of how TaskUs delivered impactful change to clients through RPA:
- Top SaaS company: Automated the end-to-end process of comparing business contact information
- Reduced average processing time from to 1 second from 5 seconds
- Increased audit rate to 99% from 85%
- Cost efficiency of around $28,000 per month
- Top health insurance company: Developed a bot that handles all pre- and post-call work and data quality management
- Increased efficiency by 70%
- Increased tickets per hour by 60%
- Cost efficiency of around $12,000 per month
- Leading FinTech company: Developed a bot that scrapes important information from Customer Relationship Management (CRM) and generates a report to team leaders
- Improved emails touched per hour by one
- Reduced cost per ticket by $7 a touch in 90 days
TaskUs ensures that every aspect of the business experiences the benefits of our automation solutions. Through our Full 360-Degree Impact, we understand that serving your customers with accurate, meaningful data and empowering our teammates with purposeful work are key elements in achieving your desired business outcomes.
Learn more about TaskUs advanced technologies and AI solutions, and how we add value to support high tech.
