Evolution is never absolute and the same is applicable to technology- because that too has undergone a lot of transformation. Organizations accepted this transformation in the form of Robotic Process Automation will eventually led to reduced human efforts and the emergence of the ‘digital workforce’. This digital workforce helped to increase efficiency and speed up repetitive, high volume and rule-based tasks requiring very little human judgment. Referred to as robotics process automation, it is quite simple to implement and configure RPA and requires very little IT expertise.
IT robotic process automation can be deployed to automate repetitive human task and can deliver quickly- with return on investment (ROI) between 300% and 600%. Considering the impact that robotic process automation has on ROI, all verticals across the various enterprise are upping their Robotic Process Automation (RPA) efforts and related outcomes. Although most of the enterprises are still in the early stages of RPA adoption, some have showed superior outcomes in their RPA journey.
However, enterprises in the process of adopting robotic process automation need to leverage its power for digital transformation and increased ROI. Whether as an advantage or to boost productivity- RPA is fast becoming the go-to technology for various digital transformation initiatives. But, more importantly, enterprises have been able to reduce the time to value (TTV) gap owing to the emergence of RPA. Let’s take a look at some proven best practices to increase ROI, close time to value gap and transform digitally:
Slow, Yet Realistic: Transformations take time to show results. To unleash greater value in a short time span, enterprises need to set a realistic time expectation for RPA implementation process completion. Here, it is important to consider that if a human follows a 20-step process to complete a task, it would require up to 50 steps for the robot to complete. A key insight to consider is that if any task takes exceeds 30 steps- will require a longer time frame to achieve outputs. The most successful implementations are carried out with shorter processes, which can be delivered in two to three months- with continuous momentum throughout.
Develop a Center of Excellence: The very first step to an organization’s process automation is to create a centralized team- that will build, run and maintain all robotic process automation implementations. Having a well-trained team, responsible for designing, running and reporting on process automation successes and failures, further increasing efficiency.
Combine RPA and Desktop Automation: Studies have shown that on combining robotic automation- without human intervention and desktop automation- with human involvement, enterprises are able to reap the greatest value from their RPA investments. Pure robotics automates nearly 10-30 percent of repetitive and mundane tasks leaving enough scope for desktop automation for further process optimization thereby increasing employee efficiency. It will also help employees to focus on larger processes that might require a human touch. For instance, human employees can have more time to deal with customer-centric issues thereby, raising customer satisfaction levels.
Measuring Metrics: Enterprises, in the process of implementing robotic process automation for a better ROI, must establish a set of metrics- helpful in tracking and reporting the process automation performance.
If enterprises are not already investigating RPA, they are behind times and a lot of ROI potential still untapped. Like mentioned already, in the next few years, there will be a significant wave of RPA deployments throughout all industries. The time is now to adopt RPA- for a better ROI that will revolutionize businesses.
The insights are taken from an extensive analysis on IT robotic process automation market by Future Market Insights. The detailed report can be viewed at Here.