Do your business processes rely heavily on tedious, often repetitive tasks? Do your employees spend time on manipulating, entering, and reentering data? How often? The human worker is worth so much more, yet we often waste their time on menial tasks and activities. It doesn’t need to be that way.
Robotic Process Automation (RPA) is driving technological advancement. There are great benefits to be had post RPA implementation. Do you want reduced time, improved throughput rates, process adherence, and standardization in your processes?
Look around you, Robotic Process Automation isn’t just some far fetched concept of the future. Digital leaders are adopting RPA to streamline operations and eliminate unnecessary inefficiencies. Others are combining RPA, business process management and artificial intelligence to improve their customer’s experience and grow faster.
There are many articles that talk about the numerous benefits that come from RPA. What’s frequently not mentioned is who exactly can benefit from RPA and what challenges they face. Although these may pose questions of concern, RPA can be a relatively smooth transition that correlates into saved time and money with the proper information, preparation, and control.
The Fast Facts:
Companies that have repetitive tasks that are also high-frequency can expect to see a 50-70% cost savings with RPA successfully in place. However, right now it is expected that businesses are missing out on 50% of automation opportunities. This means that there are large opportunities with the use of RPA especially when the right processes are selected to automate.
It is expected that by 2025 that businesses will gain a potential savings of $5 trillion to $7 trillion due to RPA.
For every $10,000 invested in RPA, you typically need to invest another $100,000 in consulting to identify which processes would benefit from automation.
ROI from RPA deployment can vary enormously (from 30% to 200%), depending on how effectively automation is aligned to processes.
41% Of companies won’t switch to RPA because of lack of clarity of the business process (Source: “State of Automation 2017” Sample: Enterprise Buyers = 400)
Is RPA the right choice for your business?
Business leaders cannot lull themselves into complacency based on present conditions, but must keep transforming for the future. Leaders at all levels of the organization need to have a firm understanding of the concepts and tools that are driving a revision of business operations and the way that work is performed. The organizations that adapt to these changes today will be in a better position tomorrow to respond and react to customers’ demands, competitive pressure, legislative mandates, and other changes in the business climate. Those who fail to address the customer-centric digital shift will be left behind as competitors focus on their customers and offer a better, more efficient workforce.
First and foremost, RPA is about improving business operations. Most of the time, these improvements are associated with work simplification as a major contributor to cost reduction. But a tool is just a tool. The real issue is how to use it to deliver real value. The traditional discovery and analysis activities involved in deciding what processes are prime for RPA are timely and costly. It no longer makes sense to perform these multi-million dollar digital kick-off or RPA feasibility studies. The technology available today makes this easy! Every IT system leaves a trail, the digital foot print of business operations. Harness this data and leverage it to make more informed, data backed decisions that give leaders the right information about what processes to consider for RPA.
Beginning the Digital Transformation Journey
As demand and expectations for RPA skyrocket, vendors and adopters are finding their initiatives unintentionally and often unnecessarily gated by the time and effort required by the pre-RPA process discovery and benchmarking of the as-is state. “How do we know what to automate next and why?”
Before implementing RPA, you need to have a complete understanding of how your processes are executing. This requires you to have full transparency into your business processes end-to-end. When you can visualize and analyze your entire process you can easily identify which processes would benefit from automation, and why. This is critical because if your process is already flawed, RPA will only make your bad process faster.
- Do not automate bad processes. Automating a bad process will only get bad results faster.
- Avoid the reconfiguration and continuous changing of bots and incurring the unnecessary costs.
- Get buy in from your team, otherwise you will not be able to scale.
But now you’re wondering “How do I avoid these undesirable things?” The key is to launch the RPA implementation right the first time by doing thorough preparation:
- Prepare your organization by first streamlining your operations and optimizing your business processes.
- Transform your company’s decision making from intuition-driven to data-driven. Don’t rely on biased opinions – everyone pictures the process in their own perspective, biased by their role.
Will You Succeed?
According to a recent study from the Process Excellence Network (PEX), nearly 60% of surveyed companies are either implementing or currently running RPA programs to transform internal processes, but according to Ernst and Young, half of RPA implementations are failing due to lack of adoption, and the cost of training the robots.
Getting It Right the First Time: The Right Technology to Accelerate your Digital Transformation
Processes are everywhere and are typically connected and/or recorded in your IT systems. Using advanced algorithms, advanced process analytics tools, like TimelinePI, can extract and read the time stamps used to record specific events along your processes. The software then visually models these time stamps in such a way that you can instantly identify deviations from the ideal process flow — to find the root cause of a problem that may be costing your business money. And it works with any system, regardless of what process you are looking to automate. ABBYY Timeline can connect and extract data from practically any system used in the running of your company – Legacy Systems, Packaged Applications (ERP, CRM, HCM, etc), Trading Partners, Databases/EDW/Marts.
Accelerate Time to RPA in a Fraction of the Cost of Traditional Methods
- Enhance insight into process execution by gaining transparency into the performance and efficiency of operational processes to automatically assess processes and identify opportunities for RPA.
- Easily identify and quantify the impact of inefficient or broken process variations, determine their root causes and how to fix them.
- Develop an understanding of process performance based on actual data.
- Achieve sustainable process efficiency at a fraction of the time and cost of traditional lean or optimization efforts.
- Improve profitability and eliminate waste by simplifying and streamlining operations to reduce operating expenses while enhancing processing speed, accuracy, and consistency.
- Increase process efficiency with RPA by identifying process weaknesses, compliance deviations, and opportunities for high impact/high ROI automation.
Automatically piece together the ‘as-is’ business process analyzing events, correlations, frequency, and performance. Within minutes all of the relevant information is presented in an easy to read and understand format.
Easily create an interactive model, your literal process digital twin, containing all the relevant process information down to the single case level. Highlight process exceptions, unusual transactions, bottlenecks, deviations, weaknesses and potential risks in processes.
Automatic process assessment removes the roadblocks caused by mountains of disorganized data and limited understanding of processes. Why base your RPA investment on samples and best guesses? There isn’t any excuse not to know anymore – let the data speak for itself.
How can ABBYY Timeline help you?
Pre-implementation ABBYY Timeline eliminates the arduous, costly and often subjective manual process discovery and evaluation. We automatically generate an interactive model and provide an array of Intuitive analytic tools built on industry best practices to help you understand and quantify process behaviors. Easily identify high-value automation candidates and quantify automations’ potential impact.
In a nutshell
With the right amount of preparation and team buy-in, RPA offers a lot of opportunity to reduce process costs and free up resources for more meaningful tasks. We already discussed the need to focus your RPA initiative on the right process and to prioritize your efforts to processes with high automation potential and high return on investment. When you can align your organization, both management and project members behind a well planned RPA initiative, you will realize great gains.
Let’s wrap this up…
The new digital operation will be a complexly pieced puzzle of business functions and technology that will deliver rapid change to the way work gets performed. Leaders need to respond with flexible solutions they can adapt to the next development. Most corporations understand this, with 93% of the more than 900 respondents surveyed for the Forbes Insights/KPMG report “Business Transformation and the Corporate Agenda” saying that they have just completed, are planning or are in the midst of a business transformation.
There’s one thing that seems clear is that the digital transformation is here to stay and is going to continue to reshape the way we think about business and transform the manner in which business operations and processes are executed. It’s time to turn on the
If you still don’t yet have a blue print for intelligent automation or your operational transformation in 2019 you still have time to plan. If your organization is prioritizing digital transformation and truly wants to accelerate their success — TimelinePI, the Process Intelligence Platform is an absolutely critical piece of the puzzle.
Unlimited Automated Process Assessment for your 2019 Blue Prism, Digital Transformation and RPA initiatives
ABBYY Timeline has an exclusive offer for Unlimited Automated Process Assessment in partnership with Blue Prism. But it won’t last long (January 1st – March 31st).