Recent developments in process automation technology have led to the creation of software systems that can mirror human behavior and perform simple to moderately complex tasks. At the forefront of this evolution is Robotic Process Automation (RPA), a form of process automation technology that can be deployed to perform manual, rules-based and repetitive tasks. It essentially entails the use of artificial intelligence and machine learning capabilities in software to perform monotonous tasks that previously required human intervention.
For the procurement function, RPA plays a key role in automating transactional procure-to-pay processes and executing simple bidding transactions by leveraging systemic controls and well-defined business rules, thereby offering significant cost and efficiency benefits. According to an Everest research study, RPA can reduce cost by 35% to 65% for onshore delivery operations and 10% to 30% for offshore delivery operations.
RPA solutions from GEP enable organizations to optimize process efficiency and realize considerable savings by improving accuracy, cutting down operation time, effectively eliminating human error and significantly reducing the required headcount.
How RPA Is Helping Our Clients
RPA from GEP – A Great Return on Investment
- GEP’s RPA offerings improve efficiency of front office resources while decreasing the workload of back office resources
- Tangible efficiency gains for these resources can be estimated over as less as a one-year investment period
- Efficiency improvement by bots can translate into more than 200% onshore savings as compared to a mere 10% for offshore teams
- Bots can be scheduled to operate 24X7 at a higher level of efficiency without the need to pause or stop, thereby ensuring constant and consistent performance year-on-year
- With logical checks, GEP’s robotic tools can report, self-evaluate and automatically generate audit logs and exception reports
- Interaction with several software and systems can be managed seamlessly
- Using centralized hosting, our tools can operate in almost any geographic location
- Our robotic resources can function across multiple business units (BUs) and functions
- Properly defined processes ensure that the data will always follow regulatory compliance
- Reduced human intervention decreases the probability of an error