How Will RPA Impact Logistics, Banking, Pharmaceutical & Related Businesses in the Post-Brexit Era?
New legal frameworks derived from the execution of Brexit will lead to increased volumes of compliance paperwork for all document-heavy businesses, as well as more processes and requirements.
The Financial Times stated that the Competition and Markets Authority, also known as CMA, is preparing for an immense increase in responsibilities and workload after Brexit, including a collection of cases that could put it under a political spotlight.
It is clear that the compliance burden placed on companies in highly regulated sectors will be impacted by Brexit, because there will be both (i) an increase in compliance requirements and (ii) changed regulatory frameworks.
How to Control Increased Workload from Brexit?
Based on the FT report, in order to handle the increased workload, the UK’s CMA is looking to hire about 50 new staff members for its new state-aid division. That would take its staff total to approximately 900, in comparison to 800 at the Commission’s Competition Directorate. The decision to hire more people was based on the increased compliance workload.
Many organisations may face difficulties in finding skilled employees and gaining approvals for increased budgets. Industries must also find solutions to the potentially immediate reduction in productivity due to Brexit. This is pushing the UK and the EU towards finding more suitable alternatives, one of which is automation technology such as robotic process automation (RPA). This technology involves the use of digital workers, or robots, to collaborate with human workers to perform tasks faster and more cost-effectively than before.
There will be no major increase in costs with RPA, since Digital Workers from Venturiq’s RPA vendor partner, Blue Prism-
- Can work 24/7
- Take over all of the time-consuming and repetitive tasks from human colleagues, thereby freeing them to work on more creative or strategic pursuits
- Have the lowest total cost of ownership among the major RPA vendors
Furthermore, when the RPA Use Cases are implemented by Venturiq, Enterprises are able to take advantage of the best priced Blue Prism implementation in Europe. The Digital Workers can be trained to complete forms automatically, read and sort emails and download/upload data onto your current systems, as well as on websites. These forms can be those that address existing/ pre-Brexit requirements, special transition forms or indeed new forms associated with the Brexit deal. What this means is that your current employees can carry on with their normal working days, without the additional compliance requirements leading to overworked employees.
RPA can help to ensure that businesses directly affected by Brexit, such as logistics companies, pharmaceutical vendors and banking institutions can continue to run smoothly, regardless of how the Brexit deal may impact their sectors. Automation of repetitive tasks can go beyond reducing the burden on employees in their existing roles and also help to ease the strain that impending changes have on their processes.
The digital revolution and the Covid-19 pandemic have combined to shine a light on the profound impact of RPA. RPA is known for effectively performing back-office repetitive work, with more accurate results than the average worker; something which will be key, once new forms and processes are introduced.