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 that is used for maintaining a permanent and 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 transactions to an independent technology that provides secure and trusted transactions.
The eventual goal of any company or an industry is to increase 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 repetitive task and Blockchain provides a secure way of handling transactions. The technologies together can help achieve 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 the experiment phase in many industries. This helps in achieving some of the goals listed below.
In simple words, RPA will help reform the execution of business processes while Blockchain will help provide the support for executing these business processes in a secured manner across various technologies and industries.