Robotic Process Automation (RPA) has become the go-to solution for companies in various industries to achieve operational excellence and increase profitability. Since all repetitive, time-consuming work is handled by software robots, employees get more time to focus on other critical matters. Here are our top 12 robotic process automation examples that highlight the key benefits companies are realizing in different industries such as healthcare, retail and banking.

Robotic Process Automation Examples in Retail

Order Processing

Automating end to end data entry process associated with the customer order processing can lead to a surge in the sale and repeat business for many e-commerce industries. Other major advantages of automating this process include: 

  • Improve customer experience 
  • Improve data control 
  • Reduce costs and higher ROI
  • Higher flexibility

Robotic process automation example

Demand and supply planning

Automating demand and supply planning ensures streamlining of information gathering and analysis as well as devising a realist and efficient plans. This results in improved productivity and capacity as well as assets management. Other key benefits include: 

  • Accurate product forecasting
  • Efficient cash flow management
  • Increase supply chain scheduling
  • Optimize labor management

Logistics and supply chain management

When you use automation to manage logistics and supply chain, it allows you to improve collaboration between suppliers, customers, and distributors. Some of the manual processes that can be automated include monitoring inventory levels, shipment, order status tracking, and customer support. Some of the benefits of automating logistics and supply chain management are:

  • Quicker process time
  • Higher productivity
  • Real-time visibility 
  • Higher customer satisfaction

Read how one retailer in the Middle East was able to improve ROI by 50%!

Robotic Process Automation Examples in Banking

Account Reconciliation

Banking and insurance industries get a lot of requests for statement reconciliation. Requests such as these can be taken care of by the bot, with the help of pre-defined rules for tasks such as verifying bank statements. Some of the benefits of automating account reconciliation process include: 

  • Lower duplicate payments
  • Enhanced efficiency
  • Speed up processes
  • More time to focus on key account payable tasks

Credit card applications

RPA bots can be appointed to start the credit card application process that includes steps like getting all necessary information from customers and making all-important credit and background checks. The bot can also be programmed to decide if the applicant is eligible for the credit card. Other advantages of automating credit card applications are:

  • Enhances employee productivity
  • Instant access to online documents
  • Lower turnaround time
  • Higher customer satisfaction

Robotic Process Automation example

Exception Processing

One of the most common robotic process automation examples in banking is the handling of exceptions. Exceptions in the banking or insurance industry can be identified using a pre-defined set of rules. The bots can classify exceptions and process them without any intervention from humans.

 

Robotic Process Automation Examples in Insurance

Claims Processing

Claims processing is one of the most common tasks of insurance companies that can be automated with RPA to eliminate manual data entry. When the process is automated, the bots read the form and enter the relevant data to initiate claims processing. Advantages of automating claims processing are:

  • Save time and improves efficiency
  • Higher customer satisfaction
  • Lower errors
  • Faster turnaround time

Here’s how you can improve claims processing with RPA

Underwriting Processing

Maintaining underwriting records can be a cumbersome process when done manually. It involves maintaining the information of all the people who request details of the insurance product or company until they become the company’s customers. The process of turning a prospect into a customer can be fully automated to achieve the following benefits:

  • Higher accuracy and throughput
  • Increase in ROI
  • Improve tracking and communications
  • Consistent underwriting decisions

Robotic Process Automation Examples

Policy administration 

For insurance companies, policy administration is an important task that requires policy maintenance and servicing. It involves matching the policy holder’s data while complying with the rules as well as data processing and validation between multiple applications. RPA bots help insurers integrate multiple systems and escalate fallout for human intervention. Other benefits of automating policy administration process include:

  • Faster transaction processing
  • Standardize process steps
  • Improve compliance with regulatory norms
  • Higher accuracy with reduced errors

Robotic Process Automation Examples in Healthcare

Patient registration

Hospitals have a huge number of patients visiting every day. These patients have to enter their details manually or wait in line to get treated. Hospitals, therefore, cannot afford to waste their resources on maintaining information of patients daily and are using RPA software to gather all the relevant information. Some of the key advantages of automating in-patient registration are:

  • Lower errors in registrations
  • Save man-hours
  • Improved consistency and quality
  • Higher throughput

Accounts settlement

RPA bots can be used to accurately calculate the bill amount and quickly discharge patients. These bots can easily gather information on patient expenditure and calculate the costs of tests, medicines, wardroom, doctor fees, and food. Some other benefits of automating accounts settlement at hospitals include:

  • Reduced manual errors
  • Enhanced patient experience
  • Lower processing time
  • Better access to data

Improve healthcare cycle

Another robotic process automation example in the healthcare industry is improving the healthcare cycle. RPA bots allow healthcare organizations to efficiently manage patient data and optimize it effortlessly. This data can be gathered and extracted into comprehensible reports that offer valuable insights to clinical staff to help them make more accurate diagnoses and provide customized treatments to patients.

Robotic Process Automation Example

Read other use cases of RPA in the healthcare industry.

Final Thoughts

These were some of the practical implementations of RPA. Irrespective of the industry, RPA is widely used to reduce errors and enhance productivity to ensure higher ROI. If you’d like to know how RPA can benefit your organization, then contact us today.