by Changepond Posted on May 8, 2019
Robotic process automation in simple terms is the automation of manual and repetitive tasks using a software bot. It mimics human activities and the bot interacts with multiple systems to automate an array of processes.
Robotic process automation in simple terms is the automation of manual and repetitive tasks using a software bot. It mimics human activities and the bot interacts with multiple systems to automate an array of processes. Blockchain on the other hand provides a secure and immutable distributed ledger which is used for maintaining a permanent and a tamper-proof record of transactional data.
RPA and Blockchain – each of them have benefits of their own such as operational efficiency, time efficient and improved customer satisfaction. RPA has evolved from performing a simple task such as filling up an e-form or sending an email to using AI/ML in automating visual perceptions and decision-making processes. Blockchain has evolved from being a method used in bitcoin transaction to an independent technology that provides secure and trusted transactions.
The eventual goal of any company or an industry is to increase their customer satisfaction. The two technologies – RPA and Blockchain independently have been able to help achieve this goal. RPA helps in automating any high volume and a repetitive task and Blockchain provides a secure way of handling transactions. The technologies together can help achieve a greater customer satisfaction in areas such as Compliance management, Resource Management, Loyalty Management, Process Automation and Optimization.
Combining RPA and Blockchain is already being followed and in experiment phase in many industries. This helps in achieving some of the goals listed below.
- Secured Automation: Security is the important advantage of Blockchain technology whereas RPA helps in automating the entire process without human intervention. With both of them combined together, secured automations help many industries achieve a faster growth and an increased customer satisfaction. Banking and Finance is where both these technologies started their journey and combined together they can help ensure a secured and automated transactions every day.
- Audit and Compliance: Areas that require a manual audit and ensure compliance can be benefited by these technologies. Blockchain provides an immutable ledger whereas RPA makes sure of compliance and in eliminating human errors. These secured auditing records can be retrieved any time.
- Customer Satisfaction: Ensuring highly secure and fast automated transactions in any business makes their customers happy and attracts a large customer base for the company.
In simple words, RPA will help reform the execution of business processes while Blockchain will help provide the support for executing these business process in a secured manner across various technologies and industries.