RPA in Small Scale Businesses- Bringing out the BIG in SMBs
Robotic processes automation is the need of the hour. Businesses are heavily investing in RPA to stay ahead of their competitors. In-fact, in a recent poll by The Economist, 93% of business leaders said that digital transformation starts with automation but the same time it becomes somewhat difficult for small scale businesses to go about for such heavy investment due to their limited resources. But now because of constant evolution in RPA market, creating affordable process automation solutions using RPA in small scale businesses or SMBs and SMEs is not a wishful thinking anymore.
A report by Research and Markets estimates a worldwide $5 billion robotic process automation market in 2022. A July 2018 survey of capital market firms by Nasdaq also noted that 70 percent of respondents are already using the RPA technology in their operations.
Ability to Handle Task Variations
Due to constant change in market demand, the time and amount of tasks to be performed also changes considerably. So for humans, dealing with such tasks variations at a constant pace can be much more difficult as
humans need more time to adapt to process change.
This is where RPA comes in, small business can deploy RPA for performing manual and regular work, which can then be done effectively by these robots irrespective of the volume or the time-frame assigned.
This adaptability of RPA enhances the leveraging power of small scale businesses and help them to keep up with fluctuating market trends
A Better Way to Manage Data
RPA can minutely track their data and manage it in a better way while improving the workflow along with enhancing the work efficiency of its employees. This data can then be retrieved as and when required to extract useful insights for devising new business strategies in accordance with the current market trend.
Redundancy of Repetitive Tasks
In small businesses and startups it is imperative to build and maintain initial customer relations through regular email , filling up consent forms, maintaining contact lists etc ,that are repetitive and exhausting. Such mundane tasks can be easily managed by RPA solutioning. It will help in reducing FTEs workload to a great extent, enabling business to focus on more pressing matters for scaling up their revenue.
Scalability and Flexibility
RPA provides small businesses with the much needed scalability and flexibility in terms of the amount as well as the type of tasks required to accomplish a given objective. This automation process can be customized as per the need of small businesses to fit in the framework of their specific goals. This is due to robotic workforce being adaptable to task- and time-specific needs. With RPA small businesses, can respond to changing market demands more quickly and effectively.
Less Probability of Internal Resistance
Because of the small size and less number of employees, the probability in terms adapting to a new technology is very low. Such business are actually very well positioned for adapting RPA as few number of employees means better understanding of business processes that results in creating a straightforward workflow for the robots.
Low Rate of Human Error
Deployment of RPA can radically reduce the error percentage for small businesses as automation related responsibilities are assigned to fewer numbers of people as compared to large enterprises where such responsibilities are divided across various departments. It can help in scaling up the business by recognizing issues and resolve them in the initial stages within the automated processes. This also enhances the overall organizational efficiency.
RPA implementation empowers small businesses to increase productivity, address customer needs in a better way, efficiently respond to changing market demands and reduce operational costs. It is boon which ensures such businesses to achieve deliverable successfully within the TAT. But the biggest advantage of RPA is that it gives small businesses an edge over their competitor which was quiet unimaginable few decades back.