Despite the hype about AI, there are many misconceptions surrounding its practical application in business. While futurists and sci-fi geeks may argue about when AI is set to achieve human-level intelligence, it actually starts with something as simple and mundane as automating routine rule-based processes.
Today, robotic process automation (RPA) is one of the drivers of digital transformation. Defined as an emerging form of business process automation technology, it is, essentially, automation of boring, repetitive tasks, which frees up humans to work in strategic or creative areas, as well as business niches requiring empathy and emotional intelligence.
RPA adoption rate is now rapidly increasing. In 2017, 16 case studies conducted by the London School of Economics showed a return on investment from using robotic process automation ranges from 30 to 200%. The value of RPA is obvious: the technology is capable of providing high volume IT support, streamlining financial and customer service as well as HR processes. Understandably, financial and manufacturing companies are pioneering its adoption, although other industries are catching up as well.
Below is a brief overview of RPA application in e-commerce retail.
Customer relations: today, customers demand increased personalization. Not only they want web stores to address them by name, they also want the system to remember their last purchases and predict what they are likely to buy next. Moreover, they want 24/7 support. Here’s when AI comes to rescue: RPA systems can successfully communicate with customers along pre-established protocols, collect data and automatically input it into a CRM system for further processing. RPA algorithms synchronize all customer-related records across multiple systems ensuring they are always up to date and no data is misinterpreted or lost. In retail, organizations also use RPA systems to tackle a complex and sensitive process of returns.
Workflow management: managing a retail store is often challenging, but RPA solutions help eliminate most of the workflow-related stress. It’s actually amazing how many time-consuming tasks can be streamlined using robotic process automation: assigning shifts, measuring attendance, managing payroll and leaves, auditing sales and performance assessment. RPA performs repetitive and routine tasks with 100% accuracy so that you could concentrate on something really important.
Auditing and finance: admittedly, assembling sales data from multiple sources for further processing by accountants is a major hassle. Any omissions or inaccuracies may cost you thousands of dollars in fines and penalties. RPA helps you automate sale audits, process credit reports, and avoid mistakes. AT VARTEQ we offer you middleware solutions which seamlessly sync your store front-office with the back office. Moreover, they can be easily customized to sync with your CRM and facilitate your communication with shippers and accounting service companies.
Demand and supply planning: when it comes to supply planning and demand forecasting, RPA also comes to rescue. What used to be a tiresome and meticulous task consuming lots of time and effort is easy as a breeze for RPA systems. No more switching between disparate databases in an attempt to manually synchronize data and sift through huge data sets. Today’s innovations reach even further: for example when inventory database synchronizes with IoT sensors at the warehouses informing it that certain sections need replenishment, RPA can then automatically form orders to repurchase the missing items.
Logistics and supply chain management: this is one more important facet of retail back-office operations that simply cannot be overlooked. In today’s circumstances, when customers increasingly demand same day delivery, retailers want their collaboration with suppliers and shipping companies to be as smooth and seamless as possible. RPA software selects the right shipper for a specific task, tracks delivery so that the goods are delivered on time, monitors inventory levels and, all in all, is often applied to regulate logistics and supply.
Today RPA is much more than just robots replacing humans; by taking the drudgery out of human jobs, robotic process automation allows humans to unleash their full potential. Surely, it will make some jobs obsolete, but will also create new job opportunities. RPA-based software robots account for 3-5х productivity increase; moreover, their implementation usually requires minimal process changes and is non-disruptive to your business ecosystem. Ultimately, customers will never know you are using RPA to power your e-commerce business: what they will notice is enhanced shopping experience and better customer service.
ISG Automation index report states 72% of companies will have implemented RPA by 2019. As RPA is now being widely adopted across all industries, businesses are looking for reliable vendors to forge strategic partnerships with. Many SMB companies are now leveraging offshore and nearshore outsourcing to cut costs and develop-custom made RPA solutions.