What is RPA?
Robotic Process Automation (RPA) is a technology designed to automate repetitive, rule-based tasks traditionally performed by humans interacting with digital systems. In simpler terms, RPA uses software robots—or ‘bots’—to automate tasks, thereby mimicking human actions. Xerox’s suite of RPA tools takes this concept further by offering a range of highly sophisticated bots tailored to your various business processes.
You’ve Got the Processes. We’ve Got the Bots.
RPA solutions, including Xerox’s offerings, typically comprise two types of bots: attended and unattended. Attended bots work alongside human employees, assisting them in their daily tasks. On the other hand, unattended bots work independently to execute a series of tasks without human intervention, making them ideal for complex, large-scale operations.
Underlying Technologies
RPA often leverages various technologies, including artificial intelligence (AI) and machine learning. These technologies empower RPA bots to handle more complicated tasks that involve decision-making, thereby transcending the limitations of rule-based automation. Xerox’s RPA offerings integrate seamlessly with these advanced technologies, providing a more intelligent and versatile automation solution.
The RPA market is expected to reach USD 3.10 billion in 2023, growing at a CAGR (Compound Annual Growth Rate) of 29.70% to reach USD 11.37 billion by 2028 (source: Mordor Intelligence).
Applications of Xerox RPA
Invoice Processing: Beyond Automation
Xerox’s RPA bots are Engineered to handle complex invoicing systems, automating tasks like accounts payable. The bots extract relevant information, validate it against pre-set rules, and even flag anomalies for further review, thus providing an automated invoice processing solution.
HR Automation: Navigating the Complexity of Human Resources
Xerox’s RPA bots can streamline many HR functions, from onboarding to benefits administration and payroll processing. These bots are designed to handle tasks requiring compliance, reducing the risk of non-compliance and associated penalties.
Finance Automation: A New Standard in Efficiency and Compliance
Xerox’s RPA solutions can handle tasks like accounts payable, reconciliations, and financial reporting in finance automation. Beyond mere automation, these bots can carry out intricate calculations and provide insights into financial trends, aiding in better decision-making.
Benefits of Xerox RPA
Efficiency: 24/7 Productivity
One of the most significant advantages of Xerox’s RPA solutions is the ability to operate continuously. Unlike human workers who need breaks, lunches, and time off, Xerox’s RPA bots can work 24/7. This constant operation ensures that your business processes run smoothly, resulting in higher productivity and operational efficiency.
Lexitas saved hundreds of employee hours monthly, reducing manual document processing time from 250 hours per month to near zero by implementing Xerox’s RPA Service. Read the entire case study here (Link to Pinnacle Case Study).
Cost-Effectiveness: Long-term Savings
Automation generally involves an upfront investment, but the long-term savings are substantial. By automating repetitive tasks, you can reduce the time and resources allocated to mundane activities. This reduction translates into significant cost savings over time, making Xerox’s RPA a wise investment for any business looking to optimise its operations.
81% of companies invest in RPA technology to achieve their financial saving goals (source: blog.gitnux.com).
Flexibility: Tailored Solutions
Every business is unique, and Xerox’s RPA solutions acknowledge this by offering highly customisable bots. Whether you need automation for accounts payable, HR functions, or any other business process, Xerox provides the flexibility to tailor its bots to meet your specific needs. This adaptability ensures you get the most out of your investment in RPA technology.
In a survey by Deloitte, 61% of respondents reported that their expectations of cost reduction from RPA have been met or exceeded.
Considerations and Challenges
RPA is a transformative technology, and Xerox’s unique offerings make it easier than ever to automate various aspects of your business. From invoice processing to HR and finance, their suite of bots offers a comprehensive solution to meet your automation needs.
It’s essential to understand that RPA is not a one-size-fits-all solution. A proper assessment stage is necessary to tailor the bots to your business processes. Xerox offers a no-cost assessment to help you make an informed decision. Get in touch to get started.
