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Collaboration of RPA and BPM to Enhance Business Value
The core objective of every modern business is to stay connected with their partners, vendors and most importantly, customers. With the digital age booming every day, it is becoming easier to stay connected with these major pillars of business. However, it is not as easy as it seems. Businesses must possess the right technologies in order to keep the customers engaged.
While choosing the right technologies is a difficult task, organizations should additionally strategize the art of how to keep all these technologies working together as a single organ of the company. Technology enthusiasts are now contemplating the alliance of RPA (Robotic Process Automation) and BPM (Business Process Management). The collaboration of the two concepts can reportedly be of immense benefit to organizations.
For instance, businesses can experience a significant reduction in production-related costs with the implementation of BPM and RPA. In addition, higher levels of efficiency and improved employee engagement which will automatically enhance the overall customer experience.
The major areas where this teaming up of RPA and BPM will be beneficial are as follows:
• Streamlined insurance claims
Insurance claims are generally very time-consuming; the administrative process includes lengthy paperwork, along with the exchange of information along with other functions. BPM and RPA can work hand-in-hand in order to reduce the time consumed in the undertaking of the processes, thereby increasing productivity.
• Onboarding of employees in HR
The Human Resource section of every business requires undergoing several processes before onboarding an employee. HR validations in terms of information collected about the recruited individuals have followed the exchange of emails which initiate the process. With bots working at the backdrop of this collaboration of BPM and RPA, information is extracted from the emails automatically and recorded in the database.
In case of any missing information, the bots send emails to the relevant candidates to revert with the same. Following this, the information is validated and scanned and the onboarding is completed by respective teams.
• Improved dispute management in Banking
Bots accelerate the efficiency of the process in dispute management while reducing the costs immensely. The robots employed in the process required to log onto the interbank platforms in order to extract data and initiate the case with aid of the BPM, which helps in validating the transactions and diagnosing disputes if any.
In addition, the bots follow a set of pre-set regulations along with high-end cognitive skills, which enable them to initiate a refund in case a dispute is in existence.