What is Robotic Process Automation (RPA)

RPA, or Robotic Process Automation, is technology that uses software robots, also known as bots, to complete routine computer tasks usually handled by people. These bots can mimic human actions on a computer, like clicking buttons, entering data or moving files between folders.

For example, in a bank setting, RPA could be used to automatically handle authorized fund transfers. The bot would log into the banking system, retrieve the necessary account information, initiate the transfer and record the transaction details.

RPA is all about bots that are programmed to follow specific rules and processes. These bots are intelligent enough to interact with different applications, websites or systems in the same way a human would. Let’s explore the steps involved in a typical RPA workflow:

1. The first step is to identify a repetitive task that doesn't require much decision-making. This could include tasks such as processing invoices, filling out forms with pre-existing data or moving files.
2. The actions required to complete the task are recorded. For example: any clicks, keystrokes and any data entry needed for the task.
3. Once the business process is recorded, bots are configured to follow those same steps. This stage may involve programming the bot to interact with certain applications or enter data in specific fields.
4. The bot can be set to run automatically at certain times or triggered by specific events, like when a new file or email is received.
5. The bot executes the task by mimicking human actions. It logs in, clicks through windows, enters data and performs any other required operations.
6. Human overseers monitor the bot’s activity to ensure that the task is done correctly. Any errors or issues are logged and can be reviewed later.
7. If there is a change in the process or the systems that the bot interacts with, the bot would need to be reconfigured.

Owing to its several tangible business benefits, RPA has found its way into many industries. Here are some examples of how it’s being used:

• Banking and financial services: In banking, RPA can handle loan processing, where bots gather customer data from applications, verify documents and fill out loan systems. Another example can be anti-money laundering checks, where bots sift through thousands of transactions and flag suspicious activities for review.
• Healthcare: RPA assists with appointment scheduling, billing and patient registration. For example, a bot can pull patient data from forms, update health records and even schedule follow-up appointments.
• Retail and e-commerce: Retailers use RPA for inventory management and order processing. For example, when a customer places an online order, RPA bots update inventory records, process shipping and send tracking info to customers.
• Insurance: RPA helps take the hassle out of claim processing by extracting data from claim forms, verifying policy details and updating records. Bots also track claim status, notify claimants and escalate any exceptions to human agents.

Next, we will discuss the multidimensional relationship between RPA and cybersecurity.

Cybersecurity for RPA

Since bots have access to sensitive systems and data, they must be treated like any other high-access user in the network. Here are key cybersecurity considerations that should be considered when developing RPA solutions:

1. Secure identity and access management (IAM)
   In the context of IAM (identity and access management), each bot should have its own identity (unique credentials) and follow strict access controls. Furthermore, multi-factor authentication (MFA) and role-based access control (RBAC) should be used so that bots only access the data and systems necessary for their specific tasks. This limits the potential damage resulting from a compromised robotic identity.
2. Regular auditing and monitoring
   Like any privileged account, bot activity should be monitored to detect unusual actions. Regular audits of bot operations, system access and activity logs can reveal any suspicious or unauthorized actions and mitigate potential security risks.
3. Endpoint security
   The devices or environments where bots operate need secure configurations and regular updates. Ensure that all endpoints are protected with antivirus and anti-malware tools so that bots can be protected from external threats. This extends to the endpoints used by humans to configure and manage RPA entities.
4. Incident response for RPA
   Develop an incident response plan, specifically for RPA. This means that if a bot is compromised or shows unusual activity, your organization should have protocols to isolate and investigate it to prevent further damage.
5. Decommissioning and retirement
   Outdated or redundant bots should be removed from the production environment, including the access rights and accounts associated with those entities. The implementation plan should include the steps for complete retirement, dealing with orphan accounts and other risky elements.

RPA is sometimes confused with artificial intelligence because RPA bots, like AI, can perform tasks that mimic human actions. However, the two technologies work in different ways.

RPA handles tasks by following set rules and instructions. It is ideal for repetitive, structured tasks that don’t require decision-making. In contrast, AI can make sense of unstructured data, recognize patterns and learn over time. It is useful for more complex tasks that involve predictions and intelligent decision making.

When combined, RPA and AI create what’s known as Intelligent Automation. For example, an RPA bot handles data entry, while AI analyzes that data to provide insights or detect trends. Together, they can automate not just simple business processes but entire workflows that involve both structured and unstructured data.

Here are some benefits of incorporating business process automation into your operational workflows:

• Reduce labor costs by automating repetitive tasks and/or those that don’t require human intervention.
• Minimize the chances of human error in data entry and processing by automating every step involved.
• Free up your employees to focus on higher-value, customer-facing tasks.
• Comply with regulations in your industry by automating compliance-related activities.
• Since RPA implementation is usually fast, you get to enjoy a fast return on investment (ROI).

To effectively manage the risks associated with an RPA project, here are some tips to consider:

• Compliance: Establish clear ownership, implement proper controls and use an appropriate governance model to ensure regulatory compliance.
• Selecting the right technology: In the competitive RPA vendor market, it’s crucial to choose a reliable solution that aligns with your needs, as picking a problematic solution could lead to costly reimplementation later.
• Configuration and testing: Ensure the RPA implementation accurately meets all business goals and is thoroughly tested before launching in production.
• Operation: Change management is essential. Every environmental change must be reflected in the RPA system, with continuous monitoring to ensure that errors are caught early, and any risk of operational disruption is minimized.