RPA for Retail Industry

AutomationEdge Cognitive RPA solution to make your workplace more human friendly.

Enhancing Customer Experience with RPA and AI

Retail is a very low margin and high volume industry. According to the report, a global retail sale is going to reach $27.7 trillion by 2020. With increasing competition and price war in eCommerce, retail businesses are focusing more on improving customer experience, cost reduction, product availability and employee productivity. Considering the pressure to provide experience and quality product, the scope of human error also increases.

To achieve efficient and error-free operations, the retail industry is integrating disruptive technologies like Robotic Process Automation (RPA). The retail organizations have a massive stack of processes like inventory management, invoice processing, customer queries, business analytics, order processing, sales spreadsheet management, employee on-boarding & off-boarding which are the best cases for automation to achieve high efficiency and reduce cost.

Enhancing Customer Experience with RPA and AI

Retail is a very low margin and high volume industry. According to the report, a global retail sale is going to reach $27.7 trillion by 2020. With increasing competition and price war in eCommerce, retail businesses are focusing more on improving customer experience, cost reduction, product availability and employee productivity. Considering the pressure to provide experience and quality product, the scope of human error also increases.

To achieve efficient and error-free operations, the retail industry is integrating disruptive technologies like Robotic Process Automation (RPA). The retail organizations have a massive stack of processes like inventory management, invoice processing, customer queries, business analytics, order processing, sales spreadsheet management, employee on-boarding & off-boarding which are the best cases for automation to achieve high efficiency and reduce cost.

Challenges in the Retail Industry

Product Availability

Product Availability

Retail companies need to maintain a high volume of inventory to make the product available on demand. With very low visibility, companies tend to invest a lot more than required in inventory which incurs heavy costs.

Workforce Management

Workforce Management

Being profoundly human dependent industry, there is always struggle in retaining and managing the workforce. This leads to increased HR activities and time consumption.

Business Analytics

Business Analytics

As a low margin industry, accuracy and efficiency is the key to success in the retail industry. Fluctuations in market demand, delay in sales analytics can cause a huge impact.

Managing Market Demand

Managing Market Demand

Fulfilling the market demand is generally affected in retail due to manual operations like invoice processing, order processing, etc. Delay in supply leads to loss of sale.

Customer Satisfaction

Customer Satisfaction

Fulfilling the market demand is generally affected in retail due to manual operations like invoice processing, order processing, etc. Delay in supply leads to loss of sale.

How RPA Can Impact Retail Industry

Automate Invoice Processing: Automating invoice, contracts and quotation processing will reduce TAT significantly with improved accuracy. Paper-based invoices in different formats can also be processed using OCR technology.

Employee On-boarding: Automating employee on-boarding process includes screening resumes, entering employee details in different systems, providing respective access as well as enrolling for training. RPA can also predict the trend in employee resignation and retention.

Inventory Management: RPA can help predict the fluctuation in the market using machine learning. This helps retail companies to prepare in advance to meet the changing market requirement. By integrating different systems, RPA can significantly reduce order processing time.

Sales Analytics: The sales team in retail relies on excel sheets to track monthly or quarterly sales. It takes significant time to consolidate and sent these numbers to the central management. AutomationEdge is the fastest RPA solution to process structured as well as unstructured data in excel spreadsheets.

Efficient Customer Support: Using past data, Chatbot and machine learning together can automate customer support for structured and unstructured requests. Natural Language Processing helps understand requests in plain English in email or chat.

Consumer Behavior: RPA when used in consumer behavior analysis for factors like social media emotions, past shopping and browsing history, can help in effective new product launch, analyze market trends, store planning, trade promotions and many more.

Case Study

Global Retail Company automates media
invoice processing to process 10,000+

invoices and save 400+ man hours.

Benefits of RPA in Retail

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