Automated Logistics Systems: What to Look For

Many people are filled with anticipation when opening a package. However, discovering a disproportionately large and complicated manual for a low-quality item can be incredibly discouraging. It’s important to consider this example when pursuing robot process automation workflow. 

Many would say this is common with any IT solution review and implementation. However, McKinsey & Company reported on the stark differences for one organization in need of such a solution: “The return on investment for RPA was about 200% in the first year and they could implement it within three months. The IT solution did the same thing but with a three-year payback period and it was going to take nine months to implement.” To ensure buying RPA for the supply chain is worthwhile, freight forwarders should consider the following eight items during their RPA search.

1. Compatibility With Your Tech Stack

An integral part of robotic process automation workflow is its ability to work with the technological partnerships already in place. Effectively receiving and sending data relies on a whole workflow of automation. A complete workflow minimizes the opportunity for data to get stuck in multiple locations along the way.

2. Detailed Reporting Capabilities

One of the primary functions of incorporating an RPA is creating reports. These detailed reports become a tool to monitor chief financial areas such as profit and loss analytics. Other important reports provide alerts of business slowdowns to promote better optimization.

3. Seamless Data Sharing With Network Partners

Because much of the robotic process automation workflow is cloud-based, data sharing is easier than ever. Remote access gives freight forwarders the communication tool they need to keep network partners informed at every step of the way. This is especially useful when expanding your network to share information as the business grows. 

4. An Easy-to-Use Interface to Manage Exceptions

As incredible as automated logistics systems are, they can’t do everything. When an RPA is not confident about the next steps with a document or data set, this exception gets added to a human employee’s workflow. Doing so corrects and teaches the RPA for future transactions. 

5. Email Response and Chat Bots

One of the tedious tasks that RPA can remove from the manual workload of a company is answering simple questions. By incorporating freight chatbots and automated email responses, freight forwarders can provide excellent, instant customer service that provides employees the time to focus on complex customer needs.

6. Digital Document Sharing and Generation

Robotic process automation workflow shines with its simplified approach to document management. By digitizing the storage of documents, sharing is made easier than ever. Additionally, with digitized data, RPAs can schedule the generating of important documents, such as invoices.

7. Real-Time Status Alerts and Notifications

The consumers of 2022 have been conditioned over the past years to expect real-time status alerts for their personal items, so why would today’s business owners not expect the same from their network partners. By incorporating track and trace technology into the automation of customer alerts, freight forwarders can offer competitive customer service. 

8. Integrated Payment Management

While many in the supply chain have embraced digital forms of payment, some companies still have to work through the pains of complicated payment arrangements. Automated logistics systems can leverage account data to trigger notifications for customers that provide invoice visibility that encourages quick pay decisions. 

Tap the Value of Automated Logistics Systems With RPA Labs

By incorporating the valuable source of robotic process automation workflow into their business, freight forwarders can add that value directly to their own company. This value manifests in the diverse optimizable options found in more data-driven processing than manual logistics. However, this is possible only by finding the right automated logistics system to fit a company’s specific needs. To learn more about an experienced, well-versed automation solution, schedule a demo with RPA Labs today.

What Are the RPA Logistics Use Cases?

Within any industry, but the domestic and global supply chain network specifically, robotic process automation (RPA) brings a staggering 60% overall savings across the board. For this reason, the RPA market exceeded a staggering $1.7 billion in 2019. For local and global supply chains, RPA offers an additional benefit: helping businesses improve productivity 5-10 times faster with nearly 40% fewer resources required. A report by Team International highlights the many benefits of RPA logistics use cases. Using software robots to perform redundant and labor-intensive tasks allows team members to focus on more specific and meaningful jobs. Automation and robotics help to reduce expenses and inefficiencies throughout the supply chain network. These RPA logistics use cases show how RPA can help managers get the most throughput, reduce costs, and create strong relationships with partners by focusing on the following aspects.

RPA logistics use cases often focus on tendering freight and the speed at which orders get processed, shipments loaded, and containers emptied for return.  Knowing tendering rates can help managers improve productivity and can also highlight areas of potential delays and disruptions.

Reduced Confusion Over Which Rate Is Best

Securing the best shipping rate is an ongoing struggle for shipping managers and freight brokers alike. Automated processes such as data tracking, report generation, and real-time monitoring make it easier to ensure the best rates get used with every order or contract agreement. 

Improved Throughput From End to End

The speed and productivity of the supply chain at critical points of distribution, receiving, and storage can significantly affect the network. Monitoring throughput with automation continues as a prime example of a good RPA logistics use case that directly impacts and improves network productivity. 

Managing Shipment Status Inquiries

With more managing opportunities, it becomes easier to keep track of inquiries from clients and other team members regarding the shipping status and delivery ETAs. Timely responses and real-time action can help reduce delays and improve the rate of successful freight tender and deliveries. 

Integration to Provide Automated Notifications and Push Updates to the TMS

RPA logistics use cases can also include using transportation management systems (TMS) and automated tools. Optimized notifications, automated communications, and improved integration throughout the network can help keep everyone on the same page. Proper alignment also includes assessing incoming emails, responding to such emails, gathering data from email, and sharing that information with other systems of record, such as the TMS. 

Invoice Processing and Payment Management Becomes Easier

A surprising amount of time and resources get wasted by supply chain managers chasing down payments and dealing with invoicing issues. RPA systems can improve communications, make digital documentation more manageable, and help streamline payment process automation

Inventory Management Improves Across the Board

RPA logistics use cases can include inventory and warehousing processes as well. Managing stock levels and inventory availability in real-time keeps the supply chain running as efficiently as possible. Shipments can go out on time, orders can be fulfilled, and delivery ETAs can be honored.

Sharing Digital Documents and Gathering Data From Such Documents

Record keeping exemplifies another prime area where the benefits of RPA logistics use cases can arise. Digital paperwork makes it easier to secure signatures and update records with new information. It also streamlines the recordkeeping process and improves security significantly as well.

Collaborate With the RPA Experts Today to Take Advantage of the Latest Technology and Innovations

 Maximize profits and improve supply chain flow from end to end with the latest technology and innovations in RPA logistics. With proper RPA systems and use cases in place, the entire supply chain network can operate efficiently even during market instability and volatility. Contact RPA Labs today to schedule a free demo and get started.

The ROI of Robotic Process Automation in Logistics

As robotic process automation in logistics becomes more popular, some experts are left wondering if their return on investment (ROI) is worth the money they pour into yet another software service. Logistics management needs to determine the use of the RPA and whether the long-term benefits outweigh the short-term costs. ROI means significant improvement with the ability to process shipments faster and eliminate those tedious, time-consuming tasks. The use of robotic process automation in logistics enables logistics companies to save money in the long term and remain competitive in an ever-growing market. 

Why There’s Interest in the ROI of RPA and What it Means for Supply Chain Logistics Experts

When logistics managers budget for automation, they should consider implementing RPA to automate time-consuming tasks such as spot quoting. Robotic process automation in logistics proves there is a better way to perform daily functions and achieve organization. It allows agencies to pursue more efficient avenues and perform tasks much faster. The key is to deploy these uses in the most critical areas of the supply chain to harness the power of process robotics and mitigate the routine activities, according to Deloitte. For instance, mundane tasks, like reviewing emails for shipment status inquiries, can be automated through the use of RPA to save back-office expenses.The ROI of RPA means supply chain logistics experts can focus on what matters most instead of wasting time on processes that can be automated. Time is money, after all. 

The ROI Is Significant and How Do Logisticians Measure It

Logistics experts know the ROI of RPA holds significant value. Automations for freight forwarders and other areas of the supply chain can make a huge difference but at what cost? Logisticians must determine whether the value of the software is worth the money they invest. It takes a lot of measuring and research to determine this value. Essentially, the cost of automation is how it measures up to the hours spent on performing the process manually and the costs of actual labor for doing the actions. Typical ROI payback is between six and nine months, anything longer than that is not worth the investment. Additionally, McKinsey & Company found an ROI range that varies between 30 and as much as 200 percent in the first year in 2017, but additional, proprietary studies commissioned by RPA vendors have found ROI rates of well above 300%. Ultimately, the key to calculating a comprehensive ROI is to think about the total labor costs and processing costs associated with each activity automated through RPA and determining how those costs compare to total costs after implementing such a system across all resources, including your systems of record, email and even chat platforms.

Factors Affecting the Variety of ROI Figures

The question, though, is how do they measure it and what factors go into measuring it? The use of software bots automates everyday processes but what does that entail? Essentially, robotic process automation in logistics needs features that add enough tangible value for logisticians. The process should be rule-based and clearly defined. Too many steps or vague solutions will not help customers or employees. Next, does this take too much time? If the process takes the same amount of time as manual input, it would not be worth it to invest. And finally, does it have readable inputs? The platform needs to be user-friendly, especially for customers who do not know the supply chain.

Get The Most Bang For Your Buck and Invest in Robotic Process Automation in Logistics Today

Robotic process automation in logistics is transforming transportation and logistics. The best investment experts can make is in their technology platform. Get rid of those extra hours of labor. Service and customer satisfaction will grow as team members focus on the work and not the “swivel-chair” practices. This also boosts productivity as more hours are spent on what matters and less time performing routine, daily tasks. Get the most bang for your buck and invest in RPA today. Book a demo with RPA Labs to get started today.

The Benefits of RPA in Supply Chain

There are many benefits of the use of RPA (robotics process automation) in supply chain. Logistics management may need to justify implementing this particular software. RPA in the supply chain holds many benefits for those who use it to its full advantage. Some benefits of integrating an RPA solution include improved speed overall. Put the most difficult deliveries in the past with the use of RPA. In addition to the optimization of workflow to gain more speed in business, automation is ramped up to reduce operational costs, collaboration is enhanced, logistics service providers can more confidently provide real-time visibility, and pivot from reactive to proactive management by exception to prevent excessive costs.

 

Most importantly, the benefits of RPA in supply chain processes are not limited to single chatbots. They can be deployed to manage email inquiries, generate quotes, and much more. This gives logistics managers the ability to process shipments faster without sacrificing other aspects of the business. Let’s take a closer look at the benefits of RPA in logistics and how this technology is reshaping the industry. 

 

1. Improved Speed in Workflows

 

One of the many benefits of RPA in supply chain processes involves improved speed in responding to quotes and customer engagement. Logistics and supply chain staff are buried in emails, documents, and inefficient processes.  

 

The average time it takes for a freight forwarder to respond to a quote request is 57 hours (that is if they answer at all – over 70% don’t).

Freight forwarders should not have to manually sift through emails or have anxiety in winning new customers or lose current customers due to slow response times, hunting down data lost in emails, or compiling Excel sheets just to respond to requests for quotes. 

 

When those in the supply chain, such as freight forwarders, implement robotic process automation they typically gain the following benefits:

  • Respond First: Be the first to engage customers and vendors across all communication channels including email, text/SMS, chatbots, web apps, and more. 
  • Increase Sales: When you respond quickly and with consistency your team is more efficient and confident, resulting in more customer acquisition and higher rates of retention.
  • Engage Customers: Instant response times give companies an edge over their competitors, leading to more wins and happier customers. For example, if a chatbot can easily answer a question on your website when a customer visits for things such as an update on sailing schedules.

 

2. Keep Profit Margins in Tact by Reducing Operational Costs

 

Another natural benefit of speeding up response times and relying on RPA to gain benefits in the supply chain is that operational costs are reduced by automating tasks such as putting together the paperwork and getting all the information you need to serve customers.

Freight forwarders are struggling to keep up with demand and respond to customers in time due to manual processes resulting in errors, less attention to detention & demurrage, and frustrated customers.

It shouldn’t be so taxing on your team to provide the best service for customers, but most likely, you are having to hire several team members, adding to operational costs, and resulting in a lower margin.

RPA helps protect profit margins for forwarders and others in the supply chain by giving more time back to your team:

  • Helping to reduce manual, error-prone human data collection.
  • Generating daily or hourly reports on container status updates.
  • Developing alerts for exceptions and changes in ETAs.
  • Identifying potential detention and demurrage fees. 
 

3. Stronger Collaboration 

 

More benefits of RPA in supply chain usage lie within its easy integration with existing software and processes. It is one of the more notable advantages of RPA utilization because it can use the same system as team members. An in-house strategy to build RPA tools takes many resources, but a prebuilt solution built specifically for logistics and supply chain workflows utilizes those existing software structures. That promotes faster time to ROI and when all the route, manual tasks are working in an automated fashion, it allows logistics service providers, like freight forwarders, and importers to collaborate on larger issues that are facing each organization.

 

4. Faster Data Collection for Real-Time Visibility

 

Increased visibility and real-time access to data form additional benefits of RPA in supply chain processes. Consider this. RPA boosts real-time visibility via track and trace, by capturing and entering data automatically, which effectively reduces errors of manual entry. This leads to better data collection with high-quality data that everyone can interpret and use. Automated email response bots also enable access to a larger quantity of data for analytics resources to leverage, and they can even be useful as automations for freight forwarders or other freight management parties to respond to incoming email requests. 

 

5. Ability to Scale Operations

 

Freight forwarders should be able to focus on high-level strategy instead of worrying about day-to-day operations and manual tasks. Forwarders and other logistics service providers want to scale operations and achieve specific outcomes for their business, but they are faced with many challenges that an automation solution, like RPA, solves. For example, many companies want to:

 

  • Improve productivity… but demand from customers on top of redundant tasks is holding them back.
  • Support Customers… but the team is struggling to provide it proactively.
  • Increase Conversions… but their team is not turning back requests for quotes in a timely manner.
  • Scale Business…but every time the forwarder onboards a new customer, especially big ones, theyhave to hire more people, slowing down operatoins and hampering growth.

 

The benefits of RPA in the supply chain provide the confidence and backdrop to scale and grow.

The automation that comes within the RPA Labs’ RPA Engage suite to scale provides a path to these benefits. Let’s take a look at the functionality:

  • Logistics ChatBot: RPA Engage fully integrates Chatbots with existing systems to provide instant, accurate responses to customer inquiries throughout all your chat channels. 
  • Email Response Bot: RPA Engage directly integrates through email to answer customer inquiries, eliminating email inboxes up to 80%. 
 

Tap the Benefits of RPA in Supply Chain and Boost Your System Today

If teams budget for automation, they can tap into the benefits of using RPA in supply chain workflows more easily. These benefits are simply too great to ignore and can reduce the hassle of manually sorting through and responding to email as email response bots or perform other activities.  Connect with RPA Labs to schedule a demo to see advanced RPA in action.

Top 5 Use Cases of RPA in the Supply Chain

Many businesses spend years building their management systems and platforms. The value of using RPA in supply chain processes is often overlooked due to the nature of “traditional” maneuvers within the supply chain. Robotic Process Automation (RPA) delivers changes to shipping schedules efficiently, decreasing the chance of delays. RPA can also handle customer needs or automate and consolidate data entry and enable faster shipping.  Additional benefits include streamlining order management needs and identifying weaknesses within the supply chain. 

1. Management by Exception for Delays or Changes to the Shipping Schedule

RPA in supply chain operations is beneficial for shippers because management can be notified immediately when changes are made to the shipping schedule. Changes in the schedule can lead to costly delays and even cause businesses to lose customers. TechTarget.com states, RPA can improve supply chain management and logistics by automating repetitive time-consuming tasks such as data entry, in turn improving workflows. RPA uses automated software robots — or bots — to extract data from one application and paste it into another.” Integrating this software helps eliminate the significant struggle among shippers, carriers, and management by opening communication lines and transforming logistics.

2. After-Sales Service to Handle Customer Needs

Another essential function of using RPA in supply chain activity comes after the sale. After-sales customer service checks in on customers to ensure their needs are met, including a great delivery experience. This service provides customers with an easy way to submit feedback in a way that helps ensure that their voice is heard. If issues occur, customers can address them immediately. This provides the company with an opportunity to boost its customer service level with timely responses. 

3. Automation of Data Entry

Automated data entry enables logistics managers to reduce their workload and prioritize their working hours. Mundane, everyday tasks can encroach on valuable work time, especially during the crunch time of busy seasons and any logistics automation, like RPA, will help streamline the upstream supply chain. Using RPA in supply chain operations to handle these processes will streamline those services and increase efficiency.  Manual entry of customer information also takes up precious time. In addition to saving time on paperwork, automated systems can remember repeat customers and automatically save and share their data with shippers. 

4. Enabling Order Management

In addition to enabling automated back-office work, using RPA in supply chain processes also allows for more seamless order management. Disorganization caused by manual processes can lead to lost files or information and shipment delays. Poor order management can cause delays and prevent on-time deliveries. The ripple effect of missing deadlines can lead shippers to lose business and logistics companies and freight forwarders to lose shippers. 

5. Identifying, Implementing, and Continuously Optimizing Network Processes

Becoming more efficient with RPA can make it easier when it comes to processing orders, shipping via multi-modes, verifying vendors, and identifying additional needs. However, efficiency does not stop at implementation. Adding RPA in supply chain processes means continuous, proactive, and preventative maintenance for network processes, as well as ongoing route optimization connected to other systems of record. Furthermore, software needs to be monitored to correctly identify issues as they arise. These processes can reorder inventory or condense emails, but management and other users must put in the work to ensure proper care and maintenance for their solutions. 

Increase Efficiency With RPA in Supply Chain Processes Throughout Your Network

RPA in supply chain processes handles everything from backlogged office duties to tracking the shipments and nurturing customers once their order is complete. Many supply chain experts can better navigate the frustrating and confusing parts of shipments by upgrading the software bots throughout the network. Request a demo with RPA Labs to get started.

7 Automations for Freight Forwarders in 2020

 

 

With the rise of competition and market pressure, it is becoming more difficult to meet the profit margins needed to grow in the freight forwarding industry. Forwarders are facing increased pressure to:

  • Become digital
  • Offer a better experience to the customer
  • Grow the business with more jobs completed per person
  • Commit less mistakes

Customers are also getting more demanding – asking their vendors to move faster, answering their requests without waiting. Instant notification and gratification is becoming the standard. RPA Labs realizes that “doing more with less” is the holy grail to growing the business, so we developed custom solutions that allow freight forwarders to digitize with ease. Here are our top seven automations we think every Freight Forwarder should implement in their workflows.

1. Quote & Booking Automation

More than 75% of customers buy from the company that responds first. Sales conversions are even higher if there is a response within the first minute. Instant response times give companies an edge over their competitors, leading to more wins and happier customers.  

2. Sailing Schedules

RPA Labs automatically collects, processes, and migrates sailing schedules from emails, portals, EDI Messages, forms, third party websites, and more, into your system. We allow freight forwarders to improve shipment management with up-to-date schedule information from over 120 connected carriers. 

3. Document Automation

RPA Labs’ Document Automation allows for seamless system-to-system interaction with a no-code interface. Migrating data from shipping instructions, BOLs, packing invoices, and other documents has never been easier.

4. Container Tracking

Enhance customer visibility with notifications and tracking updates sent every step of the way, eliminating manual time spent providing updates and allowing customers the freedom from sending follow-up messages. 

5. Detention/Demurrage Management

Companies experience massive profit loss due to detention/demurrage fees, not to mention the countless employee hours spent manually reviewing each case. Our solutions provide visibility, proactive management, and creates a new profit source by applying robotic process automation. 

6. Rate & Ocean Contract Management

Keeping rates up to date is a nightmare. RPA Labs works with several providers to make sure that the rates quoted are accurate. We automate the contract extraction and upload process, decreasing time spent loading contracts into systems. In turn, this decreases labor costs and will effectively be able to accept more customers to handle rate management. 

7. Real-Time Notifications

Enhance your customer experience by providing instant notifications for every milestone via email, WhatsApp/SMS, or custom chatbots. Your customers will have peace of mind knowing the status of their shipment – without having to send an email or pick up the phone. 

 

Interested in becoming a digital Freight Forwarder? Request our guide for more information!

 

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How RPA is Transforming Transportation and Logistics

 

If you work in transportation and logistics, technology may sometimes seem like the bane of your existence. The implementation of different kinds of software applications meant to elevate and simplify your business may, in fact, have the opposite effect.

Your employees may experience “portal fatigue,” trying to manually piece together a workflow involving a lot of copy-and-pasting among five or more technology platforms. The work can be mind-numbing and overwhelming. When is the paperless, seamless digital future we were promised going to become a reality?

Fortunately, help is on the way.

Robotic process automation is an affordable, flexible way to manage different software solutions. RPA uses a blend of artificial intelligence, machine learning and natural language processing to learn and mimic repetitive, time-sucking workflows. The result of this automation is a more integrated process that optimizes your existing technology, saves time and resources, and generates significant gains for your business. RPA can also improve the user experience for your employees, eliminating redundancy and busy-work from their 8-to-5 lives.

“In our industry, portal fatigue is becoming rampant,” said RPA Labs CEO and co-founder Matt Motsick. “Automation means fewer portals, and more interconnections.”

RPA and Logistics

While RPA isn’t exactly new, it is just starting to have an impact on transportation and logistics. Freight forwarders, carriers, freight brokers and other logistics companies are beginning to see how automation can improve their supply chain solutions.

Here are three key areas in which RPA is having an impact on logistics companies today:

Report Generations – RPA uses machine learning and natural language processing to automate repetitive workflows like creating shipment orders, re-keying information from documents to databases, downloading reports, and inputting valuable information into CRM or ERP systems. RPA bots can also scrape relevant data from emails, texts, social media and other digital sources to identify market trends and insights.

Document Automation – Whether a company is a domestic freight broker, an international freight forwarder, an ocean carrier or a trucking fleet, they probably rely on employees to do all the data entry, migration and document indexing manually. Handling all these tasks – in addition to providing good service and communicating regularly with partners and clients – can be dull, time-consuming and cumbersome for any logistics company. RPA allows for seamless system-to-system interaction, so migrating data from shipping instructions, BOLs, packing invoices, and other documents is done automatically.

Invoicing – Making the invoicing process quicker and more efficient improves your chances of getting paid faster. RPA can post sales invoices and purchase orders into accounting systems without human interaction. The bots used by RPA can also identify billing errors and inconsistencies, and alert your accounting team and customers when invoices are paid.   

Emails and Digital Conversations – Unlike humans, RPA bots never take time off. That enables them to respond to customer questions immediately, either through email or online chats. This 24/7 availability can lead to quicker troubleshooting and improved customer service. In an industry in which 90% of correspondence is conducted via email, implementing email automation can be a true game-changer.

Other areas where RPA can help logistics providers include:

  • Inventory management
  • Vendor selection
  • Shipment status communication
  • Supply and demand forecasting

Transportation Management with RPA

Logistics service provider Ryder is a recent example of how RPA can be used to automate a legacy software system. Ryder began implementing RPA in 2017 to manage manual, repetitive tasks within the company’s transportation management system (TMS), according to a recent article in Forbes. Ryder, which optimizes an estimated 14 million shipments per year, also began using RPA to track carrier websites for appointment scheduling.

Now, with 133 RPA bots executing more than 1,300 tasks, Ryder has been able to redeploy more than six of its (human) transportation analysts to other work. The time required for Ryder to identify a freight carrier and book a load has been cut by two thirds. And the accuracy of the process has improved because RPA bots do not make data entry mistakes.

The Cost of Not Automating  

The thought of adding another layer to your existing technology may seem daunting. However, the long-term impact of not automating through technology like RPA could hurt your company’s ability to compete and meet heightening customer demands.

According to studies, companies in industries like heath care, accounting and insurance are seeing an average of 43% time reduction for processes like collections, billing and credit analysis, thanks to RPA. As automated technology improves with more artificial intelligence capabilities, transportation companies that adopt early will reap the benefits of better time management and streamlined supply chains. Those companies will gain a competitive advantage in the marketplace.

In short, while some companies automate, others will stagnate. For your company, robotic process automation may be the answer in gaining the full benefits of your existing technology.

Sources: Techwire Asia, Forbes, Inc42.com

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Seven Common Myths about Robotic Process Automation

Robotic Process Automation Circuit Board

 

You’ve heard about robotic process automation (“RPA” for short). You may have read about how RPA can transform transportation and logistics. You might wonder about the drawbacks of using RPA. It doesn’t help that there are a lot of misconceptions about what automated technology can and cannot do. Below are some of the most common myths about RPA and how it will impact your business:

Myth #1: RPA Uses a Robot

Despite the name, robotic process automation does not involve a physical robot. It’s also not an artificial intelligence virtual assistant, like Apple’s Siri. RPA is software technology that uses machine learning to automate tasks that are repetitive and time-consuming. The “bots” that perform all this work exist within the RPA software. Rather than being metallic, physical entities, these bots consist of algorithms designed to perform particular tasks.

Myth #2: RPA Takes Away Human Jobs

Rather than eliminating jobs, RPA reduces the kind of work that humans hate to do. Mundane administrative tasks, bulky paperwork, invoicing, email routing and digital interactions with clients can all be automated with RPA. Rather than leading to layoffs, this can free up more of your employees’ time, enabling them to more effectively serve customers and grow your business. Globally, technology like RPA is expected to fully automate less than 5% of occupations worldwide, according to a report from McKinsey & Co.

Myth #3: RPA is Expensive

RPA is actually a cost-effective upgrade because it works with any legacy enterprise resource planning (ERP) software your company already uses. Within a short time of using RPA, you’ll potentially save thousands of dollars a month in reduced overhead. The money once spent on paying contactors to perform simple clerical tasks can now be applied to new business development.

Myth #4: Implementing RPA is Lengthy and Complicated

The advantage of RPA software is that it learns quickly with minimal oversight and no coding from a developer. Through machine learning and natural language processing, RPA bots “watch” how human users perform a task, and can soon duplicate that work. Typically, RPA can be implemented—and integrate multiple IT systems—within a few weeks.

Myth #5: RPA Only Works for Big Companies

The affordability and flexibility of RPA technology makes it a valuable tool for any business that gets bogged down with repetitive tasks. In fact, smaller companies may see a quicker improvement to the bottom line through process automation. Even a start-up business can now afford a monthly subscription to an RPA product that meets its needs.

Myth #6: RPA Gets It Right Every Single Time

When implemented, RPA will greatly reduce the amount of errors that humans make by doing the same work. However, the RPA bots are only as accurate as how developers or users have directed them to be. The bots do not have the advanced cognitive ability to read and react to changes to the interface or data that are not preconfigured in how the RPA is programmed.

Myth #7: Robotic Process Automation Can Do Everything

While RPA represents a revolutionary approach to workflow, it definitely cannot duplicate all functions of an office setting. There are strict guidelines to the kind of work RPA technology can perform. Basically, rule-based, highly structured data that is repeated in a high volume is where RPA provides the greatest benefit.

To learn more about robotic process automation and how it can benefit your company, visit www.RPALabs.com.

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