Treasury Technology
Published  5 MIN READ

Robotic Process Automation (RPA) – Know Your Options

RPA is another function that can be added to business process outsourcing (BPO). Outsourcing to an expert is smart and cost-effective.

Robotic Process Automation (RPA) is currently one of the most talked-about productivity enhancements. RPA is really as simple—and powerful—as it sounds and provides organisations with tools to create their own software robots to automate any business process. ‘Bots’ created are configurable software set up to perform tasks assigned. Think of them as your Digital Workforce. Show your bots what to do, then let them do the work. They can interact with any system or application in the same way you do. Bots can learn and can be cloned. They can be adjusted and scaled as you see fit. In short, it’s code-free, non-disruptive, non-invasive, and easy to use.

However, with any new technology risks are initially high, skilled resources are scarce and mistakes can be costly. RPA as a Service bridges the gap between cost, risk and experienced resources, reducing the initial risk of the decision.

Business Process Outsourcing (BPO) enables organisations to transform their operating models to focus on core strategic activities while non-core employee intensive activities are handed to specialist providers. For example, the treasury function is a business process that has been outsourced with great effectiveness and has allowed treasury teams to focus on strategic matters rather than wasting time on admin-intensive repetitive tasks. RPA is another function that can be added to BPO. RPA further removes manual repetitive tasks and allows the organisation to be more customer focused, no matter if these are internal or external customers.