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How can RPA make a difference in the Retail World? - Jitendra Bhojwani, SS&C Blue Prism Partner

By Grace Lanser posted 8 days ago

  

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How can RPA make a difference in the Retail World? - @Jitendra Bhojwani, SS&C Blue Prism Partner

A recent survey found that employees in the retail sector spend approximately 60% of their time completing repetitive admin tasks.
 Both retail staff and customer would rather their time was focussed on providing the best possible customer experience, meaning this is not the best use of their time. This is where Robotic Process Automation (RPA) can be reliable solution.  


Using Intelligent Automation, Digital Workers can interact with various applications as well as information sources in a comparable way to human employee. So, one can script these Digital Workers to perform tasks like preparing invoices, handling customer returns, and stock management. By delegating these time-consuming tasks to the Digital Worker, the human worker gets more opportunities to create higher value for the business by focussing on customers, not data entry.

When we automate these admin tasks, the Digital Worker can simplify and speed up the interaction between people and digital applications. This lets employees be more productive and eventually increases time to market- a key factor in determining overall business potential. 

Thanks to their smart mechanisms, the Digital Workers can even work with APS (Analytics Platform System) software without integration, APIs (Application Programing Interfaces), or programming expertise.  

Right from real-time inventory tracking to customer/sales data collection, - there are a whole lot of tasks that Digital Workers can perform flawlessly in retail. 

What are the use cases for Intelligent Automation in Retail? 

There are several in-house operations as well as front-facing tasks that Digital Workers  can do using Intelligent Automation. Here are a few examples: 

  • Collecting staff data for facilitating scheduling, onboarding, and payroll
  • Creating/processing the invoices
  • Scripted chatbots to clear general customer queries
  • Collecting and compiling register reports
  • Automated communication with suppliers and customers 

What are the major benefits of Intelligent Automation for retail industry? 

There are several ways in which RPAs (Robotic Process Automations) can help retail businesses to achieve their business goals. Here are some of the key benefits worth sharing: 

Improved Customer Experience  

Digital Workers can help organizations improve customer relations by automating tasks like chat support, item returns handling, and updating orders. It frees up the human bandwidth for more productive tasks and handling more complex issues that need specific expertise.  

Efficient Inventory Management 

Two key issues with inventory management in the retail sector are shortage and excess stock. Intelligent Automation can be used to constantly track the inventory data, and alert relevant teams as soon as the stock goes down/exceeds a certain limit. By placing an order in time or taking the right solutions for liquidating excess stock, businesses can maintain a balanced inventory to facilitate healthy sales movement. 

Minimizing Errors 

When compared to their human counterparts the RPAs are less error-prone in the areas like data entry, calculation, or preparing specific forms. It helps in increasing accuracy when processing invoices, managing orders, and other types of general recordkeeping tasks. 

Highly Strategic Data Access 

Thanks to its quantity-based model the RPAs facilitate data collection and analysis of transactions, purchases, sales, and even customer sentiment. This data can be used for different purposes like store planning, new lunches, pricing, running promo offers, and restructuring sales strategies. 

Cost Savings  

Admin tasks eat up lots of time and businesses end up with staff spending time on tasks that could be automated. Intelligent Automation can minimize the overall operational costs through FTE (Full Time Equivalent) savings. 

Revenue Increase 

When used in a strategic manner the businesses can leverage Intelligent Automation to increase the overall revenue  to drive more sales and reduce wastage. With the help of Digital Workers, businesses can achieve their goals faster. 

Intelligent Automation for Retail? 

Robotic Process Automation can offer significant benefits in the space of retail by getting intelligent Digital Workers to take on various repetitive admin tasks, thus enabling the employees to concentrate on more productive activities. Intelligent Automation not only saves time but also helps to streamline the workflows and ensure better accuracy as they are free from human error. Right from order management to invoice generation and data entry tasks- there are many ways in which RPA can help the retail sector in so many ways, allowing businesses to get more done in less time while reducing the need for human intervention. 

 


#InsideRPA
#Industry
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