RPA in Insurance is a commendable technology trend, which can advantage insurers in designing a high-growth business strategy while reducing cost.

End result is improved opeational agility

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Invoice processing
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  • The large volume of invoice processing has repetitive manual tasks which can result in delayed and incorrect payments.
  • Invoice processing has many challenges such as invoices with formats; require consolidated data from various sources into the single financial database system etc.
  • RPA automatically processes invoices once received.
  • The paper-based invoice format can automate using OCR.
  • RPA can automate the data input, reconciliation error, and even it can process certain decision-making required for invoice processing, which minimizes the need for human intervention.
  • RPA can automate the end-to-end process from receipt to payment.
Sales Orders
  • Data consistency across enterprise systems is a very tedious task.
  • Sales representatives need to spend their critical time in entering data to the CRM system as well as the ERP system.
  • Finance analysts have to replicate the data and enter it in another system or module.
  • This may result in duplication, produce errors and affect productivity.
  • RPA can perform sales activities end-to-end by automating tasks such as sales order entry, invoicing, etc.
  • RPA helps to maintain a database by removing duplicate data.
  • Helps remove all the time-consuming tasks like data entry and can concentrate on their main task- prospecting, and generating more business.
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The manufacturing sector runs a plethora of activities to get that end product into the customer’s hands. The smallest of the errors can affect the product quality and cost them a customer. Innovation and branding have become more important than in all these years and in such a competitive scenario RPA adds to the value of the company adopting it.