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  • How Robotic Process Automation Benefits Pharmaceutical Industry

    Robotic Process Automation

    Process automation becomes a new norm in modern industries. On one hand, it can reduce the chances of human errors and on the other hand, complete repetitive tasks with ease. Robotic Process Automation (RPA) is such a process automation service. It can help various industry sectors to reinvent business operation and increase productivity in a cost-effective way. Here we are going to see its benefits and importance for the pharmaceutical sector.

    What is Robotic Process Automation?

    RPA is a software-based automation service that utilizes the concept of revolutionary AI technology. Robotic Process Automation, as the name suggests, relies on robots or the software for performing mundane tasks and certain business processes with higher accuracy and speed. RPA services can replace humans from repetitive jobs to bring automation in the process. The biggest advantage of robotic process automation is it can work on a 24/7 basis.

    RPA follows the operating procedure and involves a series of interconnected steps performed by robots to achieve a specific goal. It is a highly efficient and cost-effective technique and enables users to monitor and review the process. These days, RPA is widely accepted across various sectors like finance, telecommunications, mining, travel, retail, and utilities. Also, it can play a vital role in highly regulated sectors like healthcare and pharmacy.

    Related Reading- How RPA Services Transform Workplaces in Future

    Important Business Benefits of RPA Services

    RPA can offer the following noteworthy benefits to the company irrespective of its size and nature of business.

    • More Efficiency

    It helps in reducing the time for performing repetitive and non-core tasks. It can enable the employees to focus on important processes thereby increasing productivity.

    • Better Performance

    Robots do not take breaks! They are robust and work continuously with high accuracy. As a result, the company can produce high-quality products and avail a superior performance.

    • Reduced Cost

    RPA can replace full-time resources from the non-core processes and decrease the overheads. As per an official survey, RPA can save up to 25% in operational cost.

    • Advanced Data Analytics

    Robotic Process Automation can gather valuable data readily and assist the management to predict the future outcome through advanced analytics.

    Statista has predicted that the RPA services will get the revenue worth $3.1 billion by 2019 and $4.9 billion by 2020. Now, let’s see the impact of RPA in the pharmaceutical industry.

    Importance of Robotics Process Automation in Pharmacy

    Pharma companies can deploy digital workforce with the help of RPA services. Robotic Process Automation, together with ML and AI, enables the pharmaceutical industry to thrive while eliminating tedious tasks. It can drive business growth by serving the following objectives.

    1. Address compliance and regulatory requirements
    2. With a significant reduction in the possibility of human errors, RPA can assist the pharmaceutical industry to meet stringent standards and complex regulations.

    3. Meet patient expectations
    4. With high-quality medicines and compliance with regulations, the pharma company can meet the patient’s expectations thanks to RPA integration.

    5. Reduced Cost
    6. RPA can help companies to reduce production and compliance cost. In other words, pharmaceutical companies can get a higher ROI.

    7. Reduced TTM (Time to Market)

    As mentioned above, RPA can increase productivity by completing all repetitive tasks rapidly. It has also a vital role to play in facilitating clinical trials and gathering real-time data. As a result, the pharma companies can come up with the new medicines in a shorter time than before to get the advantage of a reduced TTM.

    Flawless data processing and reduction in report processing time can help the pharmaceutical companies to come up with improved performance and high productivity. The additional processes can also be managed with ease by integrating RPA in the pharma industry. These processes include.

    • Pharmacovigilance-related Operations
    • Clinical Trials and Data Analytics
    • Drug and Medical Device-related Protocols
    • Management of Compliance and Regulation Process

    Parting Shots

    The pharmaceutical sector has to comply with the highest standards imposed by the authorities. RPA in the pharmaceutical industry is aimed at bringing automation while enabling the management to follow the government’s guidelines. What’s more, it can decrease labor costs and increase productivity of your pharmaceutical company. RPA can increase turnaround time for accomplishing tasks and offer various benefits to small and big pharmas alike.

    Silver Touch Technologies is a trusted RPA service provider globally. Just drop us a line at info@silvertouch.com and our experts will help you explore ways to integrate RPA at your workplace or improve the existing system. Time is just right to bring digital transformation at your workplace.

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