One Stop Solution For RPA In Retail Industry

Today, customers expect a faster and flawless shopping experience with an upcoming attitude toward automated checkout. To put this in perspective, Robotic Process Automation (RPA) In Retail Industry is the perfect answer to tackle various challenges like reducing operational costs with increased efficiency, and customers’ expectations. With its transformational results, RPA is pervasive across all industries now; Retail is not immune from it. But how does it help retailers in improving their business process efficiency and enhancing employees’ and customers’ experience? Let’s explore its substantial role specifically in the retail sector.

Interesting facts about RPA Solution For Retail Industry by the top RPA leader-UiPath

• 60% of critical retail business processes can be automated
• 80% of retailers predict that AI and intelligent automation will soon be mainstream technology
• 10% potential revenue growth due to automation

Challenges of Retail Industry That RPA Can Solve

Being one of the most fast-paced industries, retail business face several challenges that require them to keep operations running as seamlessly and efficiently as possible. Besides, inventory management, supply planning, invoice and order processing, and customer queries, the retailers have to-

• Keep a high volume of inventory to make the product available on demand
• Provide fast and efficient customer service and support
• Process and deliver orders on time to achieve customer satisfaction
• Train, manage and retain critical employees at stores
• Generate accurate forecasts to optimize demand and inventory planning

Top Use Cases Of RPA For Retail Industry

RPA has plenty of use cases for the retail business to reflect its huge potential. According to UiPath, following are the best use cases of RPA in Retail:

Inventory Management and Store Planning

RPA in the retail sector can help you collect and consolidate consumer and market data generated from multiple sources like CRM, ERP or any web application. It helps you to drive more effective retail strategies to match your stores with customers’ preferences, improve their experience, and boost profits. Effective store planning also facilitates you to manage inventory and keep the shelves stocked with the right mix of products.

Sales Analytics

Comprehensive collection and analysis of large amounts of sales data is a time-consuming and intensive task. RPA automated analytics provides rapid access to reports providing real-time business insights to take multiple retail decisions such as trade promotions, target campaigns, and segment markets for increasing sales opportunities.

Orders Delivery and Return Execution

RPA bots can help retailers execute orders and return faster with high accuracy, avoiding delays in order delivery and returns. These bots can make the necessary changes in the inventory database and customer billing with 100% data accuracy for processing orders delivery and returns. Liberated employees from these repetitive, high-volume, and mundane tasks can devote their valuable time to more value-added activities i.e. customer relationship building, new customers onboarding and so on.

Product Categorization

Retail employees have to categorize thousands of products based on both global and local stock-keeping units considering various associated factors. The manual categorization of products is time-consuming and error-prone. And it may disappoint a customer who fails to find it due to the wrong product categorization done by the retailer. To solve this issue, retailers can integrate an RPA bot to automate the process of product categorization. Based on assigned attributes, it helps in giving proper taxonomy to every product that allows customers to find it when they search for it.

ERP Data Transactions

RPA-integrated ERP can automate data entry processes like billing, price changes, account payables, receivables, sales orders, and more. Manually processing these tasks requires hundreds of man-hours that turn into high operational costs. Retailers can reduce this processing time and improve accuracy three times by automating these tasks.

Many other retail processes can be automated by RPA that are as follows:

• Order prioritization process
• Customer support and queries
• Invoice and billing process
• Compliance management
• Create reliable master data plans
• Receipt confirmations
• Employee on-boarding & off-boarding
• Freight costing
• Validate and transfer documents

Importance and Benefits of RPA for Retail Industry

RPA has huge potential for the retail industry to reflect its importance and benefits that are as follows:

• Improves operational and technical efficiency
• Deliver a consistent customer experience by integrating customer-facing systems
• Eliminate tedious tasks and enhance employees’ experience
• Better compliance with audit trail
• 100% data accuracy in business operations
• Improve product availability to fulfill market demands
• Enhance customer satisfaction with faster order and return processing

3 Best RPA Platforms

Known for their high-end capabilities, the three Best RPA platforms are–
• UiPath • Automation Anywhere • Open RPA

All these platforms offer powerful RPA tools to build and develop your digital workforce and Eastern Software Systems have expertise on all of them, we can help you in respect to many factors that needed to be consider while choosing the right RPA platform for your business.

Wrap Up

With RPA bots, everyone from account managers to store associates can do everything much faster. Achieving efficient and error-free operations, the retail industry is embracing disruptive technologies like Robotic Process Automation. It enables retailers to compete with increased customer experience, reduced cost, and improved product availability and employee efficiency.
To provide end-to-end RPA solutions and services with a high business value effect, Eastern Software Systems evaluate clients’ business processes specific to the industry and scope of RPA.

To know more contact us and take a consultation from our certified RPA experts marketing@essindia.com

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