Robotic Process Automation Implementation (RPAi): Hiring and Employing a Robotic Workforce

Enterprises today are rapidly adopting Robotic Process Automation (RPA) software to release their human workforce for more value added tasks. RPA solutions bring about a rapid improvement in productivity and a substantial reduction in time to introduce new products and services. “RPA products often come across as previous screen scraping and process automation scripting tools,” points out Terry Woods, CEO of Robotic Process Automation Implementation (RPAi). “We help CIOs understand and differentiate the underlying RPA product architectures and how they enable different Robot workforce scenarios and associated strategic benefits.” RPAi has over a decade of extensive experience in assisting banks and insurance companies with operations excellence. “We observed that a large percentage of processing staff were effectively working as robots and not enjoying it,” states Woods. “We arrived at the conclusion that a unique operations experience and expertise would be required to most effectively implement RPA and as a result launched RPAi in early 2015”.

According to Woods, 20 to 40 percent of existing banking back office processing staff perform tasks like account processing, fraud, credit, check processing, and new business onboarding work that can be done by software robots at 5 percent of the cost, at over twice the speed, and with no human errors. RPAi specializes in implementing a robust RPA platform, positioned to leverage adjacent exponential technologies that consequently allow robots to move up the knowledge worker value chain.

Additionally, RPAi augments their clients’ internal team with additional deployment capacity and also provides ongoing best practice mentoring. In one instance, RPAi enabled a large North American Bank to save time and manpower with robotics. The bank had 70 people processing mortgage requests at the cost of $45-55K per head, every year. RPAi helped to bring down the bank’s expenditure to the equivalent of less than $7K per head in addition to eliminating human errors and improving service levels. “These are situations where you have people performing tasks in a robotic sense and that’s the work which can be performed by robots working 24X7 at a fraction of the cost— $1/hour,” delineates Woods.