Optimize and Automate your E-Commerce Process at Ease
Robotic Process Automation, or RPA- that is, the use of front-end, desktop-level, no-
coding required software bots to handle the routine keystroke-level process- is
Robotic process automation is a powerful trend pervading virtually every industry today; in fact, due to its great ROI potential, it’s now poised to reach the overall market volume of $10.7 billion by 2027, growing at an annual rate of almost 34%.
Due to rapid technology advancement, e-commerce is undergoing a major transformation and is steadily becoming more efficient and customer-centric than ever.
Technologies such as Artificial Intelligence, Machine Learning, and Augmented Reality are already widely used in e-commerce, bringing benefits to both retailers and customers. One more technology that contributes to e-commerce development is RPA or Robotic Process Automation.
By deploying RPA, the e-commerce retailers will be able to manage their business in a more efficient and organized manner.
RPA is an application of technology, governed by business logic and structured inputs, aimed at automating business processes”.
Automation of processes eliminates the need for a human operator and means that technology is able to independently process the needed tasks.
The integration of RPA in business processes saves time and resources and, at the same time, minimizes the number of possible errors. For eCommerce, the automation of processes directly impacts customer experience which, in its turns, can lead to better sales. Considering the complexity of some eCommerce platforms, RPA integration is a 100% must-have. Magento eCommerce development, for example, is aimed at turning this complex platform into a smoothly functioning selling environment – and combined with RPA, the platform can truly work miracles.
In e-commerce, RPA has proven itself a highly disruptive force, advancing the automation of product management, customer interaction, data collection, anomaly detection, and customer qualification and segmentation.
The basic RPA examples would be filling in the customers’ profiles with data or claims processing. RPA aims to automate the micro-processes of the company and let employees focus on things that demand a more thorough and deep analysis.
From The Company
We at Lab RPA provide you a complete E-commerce process Automator, the best automation solution which includes a step by step solution from making the business logic to orchestrate the software robots which possess the key features –
- Logistical management
- Payment process automation
- Automating Invoice generation and processing
- Email processing automation
- Billing process automation
- Data scraping, retrieval, and extraction
A full-fledged operational automated framework to manage all of your E-commerce process and operations.
Key Challenges And Characteristics
The concept comes with its own automation challenges though. These are natural challenges, maybe every automation system cannot overcome them. Some of the most common eCommerce automation challenges are multiple integrations, dynamic product information, and frequent changes to the configuration. Multiple integrations refer to the various third-party system integrations that work on both ends of the system. Integrating all these integrations and having them work in sync with the newly induced automation process could be quite a challenge, which makes automation difficult.
There're some Key Concerns
Let's discuss them briefly!
Lack of governance and cohesiveness
Longer processing time
Nuances in the extraction of data and claim verification
Risk of manual intervention during reconciliation
Implementation Time & Cost
Disparate mediums: The disparate medium through which information is processed and collected (like images, emails, papers) creates a lack of accountability and ownership.
Legacy systems: Lack of integration of legacy systems with newer solutions hamper productivity.
Data retrieval: Data retrieval poses a huge challenge when multiple software, processes, systems, and applications are used.
Regulation and compliance: Change in laws and regulation can severely impact the claims processing, posing a serious challenge for companies to remain compliant when operating in different states and countries.
• Lack of time commitment from local team
• Lack of leadership buy-in
• Lack of IT support
• Lack of support from Analytics/Data function
• Lack of support from HR
• Unclear responsibilities
• Company lacking a clear RPA strategy
• Choosing a process that changes frequently.
• Choosing a process with insignificant business impact.
• Choosing a process where errors are disproportionately costly.
• Choosing a process that involves higher-level cognitive tasks.
• Choosing a process where better custom solutions exist.
• Pursuing in-house RPA development with in-house teams that do not have enough capacity
• Choosing a solution that requires intensive programming.
• Not relying on RPA marketplaces and other readily available tools.
• Choosing a solution that did not demonstrate scalability.
• Not building for scalability
• Not taking maintenance needs into account
• Not securing RPA privileged credentials
The Key Characterstics
Let's discuss them briefly!
Automating Merchandising Inventory Updates
E-commerce content creation
RPA in supply chain management
RPA for Customer Service
Open, login, and toggle between different applications and systems.
And so on....
The payment processing involves many actions and all of them have to be carried out perfectly: financial filings, accounts payable and accounts receivable, account reconciliation, and much more. RPA can help businesses unite all of the payment processes in a single mechanism that seamlessly works across all the channels.
Customer Support and Personalization
The automation of order placing, information search, and other processes that are related to the customer’s interaction with the store result in faster and better user experience and increase customer’s loyalty. An example of RPA use for customer support would be sending the user automatic notifications about the order and collecting customer’s feedback after the order is received.
The Enterprise Resource Planning system helps manage all business processes and keeps them in one place. The thing is, there are hundreds of micro-processes going on within each process and they consume a significant amount of time if managed manually. RPA is able to automate the whole ERP process and free you from hours of mundane work. In addition, you can integrate your ERP with inventory and always know the status of your resources.
Marketing Automation-Marketing is essential as it helps you let people know about your store. Apart from the creative part, marketing also includes sending emails in a bulk, filling in the information about the customers, constant information updates, handling the complaints, and any other activity that involves interaction with your shoppers. RPA helps automate these processes and provides marketers with a ready set of data that can later be used for future campaign planning.
Logistics ManagementSupply chain is one of the processes that demand the most attention. From inventory management to shipping and order monitoring, RPA is priceless as it adds security and speed to the logistics process. RPA is able to take care of the whole process, send notifications on the order status, keep you alert about the inventory, and all other tasks that are involved in product shipping. With the help of RPA, eCommerce retailers can ship faster and in a more efficient manner, always knowing what’s going on with the orders.
Accelerated ROA strong wave of artificial intelligence development is still a far-sighted vision for industrial leaders. However, robotic process automation is a mature technology that yields a potential ROI of 30-200% in the first year, states Mckinsey.
Scalable TechnologyRPA is capable of completing pre-defined business tasks more accurately, quickly, and unceasingly than humans. The simplest form of RPA is known as web or screen scraping. It can be trained further to acquire multiple skills to handle customizable processes such as accounting and finance.
Industrial giants such as eCommerce, banking, and insurance businesses are using RPA to ensure compliance with more efficiency. With an expected spiral growth in digital data generation and audit, RPA is needed to prevent employees from taking unnecessary pressure.
Onboarding VendorsThe first step for any eCommerce business is to locate vendor information and input the same into invoice applications. Traditionally, manual efforts were required to extract and copy vendor information from emails or websites.
Delivering Customer ServicesAs a portal that receives diverse customer queries, eCommerce businesses require a strong customer redressal system in place.A typical customer service agent receives 25 calls or email requests per day with an average 20 minutes spent on each query. Here’s a broad visualization of the current state of customer service sector at any eCommerce business.
Increased Data AccuracyUsing RPA increases the reliability of data. That’s because, unlike humans, robots are unable to key in data incorrectly; nor will their “minds” wander while performing repetitive tasks. But, you must resolve bad data being received on the front end for it to work right.
Standardized ProcessesA side effect of using robots is the necessary standardization of processes. In order to start using a robot, a company’s process all need to be standardized, which in turn increases worker efficiency, and then greatly increases the speed at which the robots can do their work as well.
One of the crucial factors in achieving high ROI is in understanding what can be achieved through RPA and selecting the right processes to automate. Automating a small process with a time-saving of few minutes per process can yield better savings over a year. For instance, RPA driven cost rationalization in horizontal processes such as HR, finance and accounting, procurement, contact center process are much faster than industry-specific processes such as claims processing.
The biggest hurdle in value realization is the complexity of processes. Process complexity can increase with stringent regulatory requirements, geographies, and numbers of exceptions that can potentially stretch development and user-acceptance testing time. While you can expect to reach break-even in six months for simple processes, it may take you as long as two years for complex ones. Cost savings can vary from 10% to 50%, once again determined by the complexity of processes.
Confidential processes where there is a high risk in involving humans merit your scrutiny for robotic process automation as well.
When there is a potential to save $2 trillion in global workforce costs through automating 45% of work activities (according to PwC), no wonder enterprises are drawn to invest in robotic process automation (RPA). RPA is believed to demonstrate value realization faster than many other automation initiatives.
RPA takes just about 25% of the time required for a business process workflow solution and 16% of the time taken for enterprise application integration to demonstrate significant value. One of the immediate perceivable benefits of RPA is cost reduction by employee optimization — freeing them from routine tasks to do jobs that demand high cognitive skills.
Calculating ROI requires a detailed analysis of parameters unique to your organization. Some of the pre-requisites to achieve significant early ROI are:
- Identifying suitable tasks for automation
- Carving out appropriate processes
- Choosing the right systems
A typical ROI realization process takes from 6 to 9 months