4 Benefits, 15 Use Cases of RPA and Blockchain Integration in ’23

Robotic process automation (RPA) and blockchain are emerging as disruptive technologies that forward-thinking companies are combining to drive digital transformation. This comprehensive guide examines the value of integrating RPA bots and blockchain networks and provides 15 use cases across major industries.

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A Primer on RPA and Blockchain

Before exploring their synergies, let‘s recap what each technology enables:

Robotic Process Automation

RPA utilizes software bots to automate high-volume, repetitive tasks1. Bots can work unattended to processes like data entry, calculation, and reporting. Or they can collaborate with employees in attended mode for more complex workflows2.

Key Benefits of RPA3:

  • Improved efficiency – Complete manual work at higher speeds and volume, enabling staff to focus on value-added work
  • Cost reduction – Reduce labor expenses by automating the work of human employees
  • Enhanced accuracy – Minimize manual errors by automating end-to-end processes accurately
  • Increased scalability – Easily scale to handle increased workloads by deploying more bots

RPA bots automating business processes

RPA bots automating repetitive, rules-based tasks

Blockchain

Blockchain establishes a decentralized, distributed digital ledger for recording transactions and data4. Each transaction is stored in a block that is cryptographically linked together in a chain.

Key Benefits of Blockchain5:

  • Decentralization – No central point of failure since ledgers are distributed across nodes
  • Transparency – All parties can view transaction histories enhancing auditability
  • Immutability – Transactions cannot be altered, only appended through new blocks
  • Security – Cryptography, hashing, and consensus prevent tampering or hacking

Visualization of a blockchain

Blockchain‘s distributed ledger stores transactions transparently and securely

Integrating RPA and Blockchain

RPA and blockchain are independent but highly complementary technologies. Their integration supercharges process automation with data integrity.

How RPA and blockchain work together:

  • RPA bots execute processes and generate data
  • Blockchain distributed ledgers record output data
  • Bots add data to blockchain blocks
  • Blockchain provides trusted, transparent audit trails

This synergy between RPA‘s process automation and blockchain‘s data security unlocks immense value.

4 Key Benefits of RPA and Blockchain Integration

The integration of RPA bots and blockchain delivers compelling benefits:

1. Efficient Processes and Easy Data Access

RPA software can work tirelessly 24/7 to automate repetitive manual workflows. This enables staff to focus on higher-value responsibilities that require human intelligence and creativity6.

Recording output data onto the blockchain provides a single source of truth. Historical data remains easily accessible in a standardized format. The result is streamlined data exchange and accelerated execution across core processes7.

A Deloitte study found 85% of RPA adopters gained improved process efficiency and productivity8.

2. Automated, Trusted Data Processing

Maintaining rigorous data security and compliance is a rising challenge. The average total cost of a data breach now exceeds $4.2 million globally9.

Combining RPA and blockchain enables reliable, auditable data processing. RPA bots consistently execute compliant processes while blockchain immutably records outputs, significantly reducing risks of error, fraud, or tampering10.

Gartner forecasts that 60% of organizations will use blockchain services by 2022 driven by the need for data transparency11.

3. Enhanced Transparency

A major benefit of blockchain is providing transparent, real-time visibility into transaction histories through its decentralized ledgers. All parties can view details like smart contract executions.

RPA bots can also create detailed event logs on activities performed, like modifications to databases. This improves auditing and oversight across processes12.

A Deloitte survey found 77% of blockchain adopters gained enhanced transparency and auditability13.

4. Regulatory Compliance Assurance

Many industries face strict regulatory compliance requirements, including financial services, healthcare, public sector, and manufacturing. Violations can lead to heavy penalties or reputation damage14.

RPA and blockchain allow standardized operating procedures that align with compliance policies. Workflows remain consistent across bot executions while blockchain ledgers provide detailed activity trails for auditors15.

An EY survey found 26% of respondents cite compliance as a top driver for blockchain adoption16.

The integrated framework ensures continuous compliance while increasing operational efficiency.

15 Use Cases of RPA and Blockchain Across Industries

RPA and blockchain integration provides transformative solutions across diverse sectors:

Finance

The finance industry sees significant potential from combining RPA efficiency with blockchain security:

  • Payments Processing – RPA automates repetitive tasks like payment data entry, calculation, and reconciliation. Blockchain ledgers provide a unified record of payables and receivables.
  • Anti-Money Laundering (AML) and Know Your Customer (KYC)17 – RPA can accelerate identity verification, transaction monitoring, and anomaly flagging for AML and KYC. Blockchain ledgers give regulators transparent trails required for audits.
  • Trade Finance18 – RPA streamlines processes like letters of credit, bank guarantees, trade contracts, and SLA monitoring. Blockchain provides immutable, time-stamped records of documents and fulfillments between trade partners.
Case Study: Marco Polo Network connects global trade partners via blockchain. Payment releases automatically when contract terms are fulfilled. This eliminated paperwork and accelerated cash flow by 50%.

  • Asset Management – RPA can consistently collect asset performance data and track attributes like ownership. Blockchain provides a single source of truth for all stakeholders to view asset records and contracts transparently.

  • Fraud Detection19 – RPA bots can create smart contracts while blockchain immutably secures them, preventing unauthorized changes. This increases fraud protection and reduces losses.

Supply Chain

Supply chains can gain enormous efficiency and transparency:

  • Enhanced Traceability20 – RPA can record supply chain data like transactions, delivery status, and inventory levels. Storing this data on blockchain allows assets to be traced immutably across the entire chain.

  • Counterfeit Reduction21 – Blockchain‘s tamper-proof ledger makes it much harder to introduce fake products undetected. RPA bots can automatically flag unverified items the moment they are added to the ledger. This secures supply chain integrity.

Case Study: Nestlé and IBM Food Trust use blockchain to authenticate infant formula. Consumers can scan a code to instantly verify the product’s authenticity and ingredients.

Healthcare

Healthcare is primed for transformation using these technologies:

  • Medical Data Management22 – Blockchain is an ideal secure ledger for fragmented patient health records from diverse systems. RPA bots can seamlessly collect, consolidate, and update these records.

  • Claims Processing23 – RPA software expedites repetitive aspects of insurance claims processing. Recording outputs on blockchain allows insurers, providers, and patients to view trusted records. This improves transparency and accuracy.

  • Pharma Supply Chain24 – Blockchain tracks drugs from manufacturing to delivery, improving oversight. RPA optimizes inventory and order management for pharmacies and hospitals. This enhances patient safety and availability.

  • Patient Consent Management25 – RPA can automate recording consent data which blockchain stores immutably. This provides robust audit trails required for regulatory compliance.

Case Study: Etherisc uses blockchain for policy terms so valid claims pay out instantly via smart contracts. This eliminated paperwork and sped up settlements.

Insurance

The insurance sector also sees major advantages from integration:

  • Policy Management26 – RPA and blockchain enable straight-through processing from issuance to claims settlement. Blockchain facilitates trusted data exchange between insurers, clients, and partners.
Case Study: axoni has an RPA and blockchain solution covering policy management end-to-end. This improved efficiency by 30% and lowered data discrepancies by over 50%.

Customer Service

RPA and blockchain boost customer experience:

  • Customer Data Management27 – A unified, secure customer database is created consolidating info from CRMs, emails, chats, and purchases. RPA extracts data while blockchain stores it immutably.

  • Loyalty Programs28 – RPA can accurately track and calculate loyalty points across customer interactions and partners. Storing points on blockchain ledger prevents unauthorized modifications or errors.

  • Dispute Resolution29 – RPA streamlines handling high-volume customer disputes. Blockchain provides transparent, immutable records to customers showing issues and resolutions.

Implementing RPA and Blockchain Solutions

Companies have a few options when adopting RPA and blockchain:

  • Implement separate RPA and blockchain systems initially, then integrate them
  • Select an RPA provider like Automation Anywhere with integrated blockchain capabilities
  • Engage an experienced consultancy to architect optimal integrations tailored to their needs

The worldwide market for RPA software is forecasted to surpass $13 billion by 2030, growing at 32% CAGR30. While only 3% have adopted blockchain today, adoption is expected to reach 60% by 2025 according to Gartner31.

Integrating these technologies unlocks digital transformation potential. Contact our experts to evaluate your RPA and blockchain options today.

Sources

  1. Deloitte – [Robotic process automation (RPA)](https://www2.deloitte.com/us/en/pages/consulting/solutions/rpa– robotic-process-automation.html)
  2. Gartner – 4 Trends Impacting RPA Adoption in 2019
  3. Deloitte – [Realizing the value of robotic process automation (RPA)](https://www2.deloitte.com/content/dam/Deloitte/se/Documents/technology/Realizing-the-value-of– RPA.pdf)
  4. IBM – What is Blockchain Technology?
  5. Deloitte – [What is the impact of blockchain for businesses?](https://www2.deloitte.com/mt/en/pages/technology/articles/mt-what-is-the-impact-of– blockchain-for-businesses.html)
  6. EY – How an integrated finance function can enhance value
  7. Automation Anywhere – Automate business processes with RPA
  8. Deloitte – [Realizing the value of robotic process automation (RPA)](https://www2.deloitte.com/content/dam/Deloitte/se/Documents/technology/Realizing-the-value-of– RPA.pdf)
  9. IBM – Cost of a Data Breach Report 2021
  10. Deloitte – [Continuous automated compliance built on blockchain](https://www2.deloitte.com/us/en/pages/consulting/articles/blockchain-for– compliance.html)
  11. Gartner – 6 Use Cases Show Blockchain’s Promise for Enterprise
  12. Automation Anywhere – Compliance and Auditing with RPA
  13. Deloitte – Breaking blockchain open
  14. Smarter With Gartner – How Tech Leaders Can Adopt an Agile Compliance Approach
  15. IBM – Automation and emerging tech in banking
  16. EY – Global Blockchain Survey 2020
  17. Automation Anywhere – AML and KYC Automation with RPA
  18. Trade Finance Global – Blockchain set to transform trade finance
  19. BBVA – How blockchain technology can prevent fraud
  20. Mordor Intelligence – Blockchain IoT Market
  21. Deloitte – Using blockchain to drive supply chain innovation
  22. HealthITAnalytics – How Blockchain Tech Will Improve Healthcare in 2024 and Beyond
  23. Automation Anywhere – Intelligent Claims Processing
  24. Pharmaceutical Commerce – How blockchain could transform the pharma supply chain
  25. HIT Consultant – How Blockchain Empowers Patients to Own and Control Their Healthcare Data
  26. Blue Prism – Blockchain and RPA in Insurance
  27. MuleSoft – Top 5 Use Cases of Blockchain in Banking & Financial Services
  28. Finextra – Natwest tests blockchain for loyalty rewards
  29. Automation Anywhere – Customer Service and Support with RPA
  30. Mordor Intelligence – Robotic Process Automation Market
  31. Gartner – 6 Uses Cases Show Blockchain’s Promise for Enterprise
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