Businesses must digitalize their operations to remain competitive. Robotic process automation is driving digitalization as it gains popularity to discover new ways to impact business. Automation has a huge potential to drive down costs and significantly enhance business response time, accuracy and frees up employees for more critical tasks. Enterprises on their path to digital transformation are inherently adopting RPA. According to Gartner, RPA market will touch $1 billion by 2020 with 40% of large enterprises to adopt an RPA software tool.
RPA utilizes the robots to perform tasks by interacting with digital systems to execute a business process just like humans do. With RPA organizations can reduce the cost of staffing and employee engagement. David Schatsky, managing director at Deloitte LP points out how a bank employed around 85 bots to run 13 processes to handle 1.5 million requests per year instead of employing 200 full-time employees. It led to a cost reduction of 30 per cent.
Is your organization planning to adopt RPA? Are you considering the idea for implementing an RPA solution for cost-saving and efficiency? Find below 7 tips you can adopt for an effective RPA implementation.
1. Setting realistic and attainable goals
Equipping and installing RPA system is one thing and to propel RPA to run at scale is a different ball game. Bold and unrealistic claims about RPA from vendors and investment consultants won’t help you achieve the desired objective. Hence expectation management is the first step towards RPA implementation.
2. Aligning CX strategy
Apart from cost reduction or bolstering ROI, RPA should offer you other business impacts along with efficient customer experience. For example, enterprises such as airlines who handle large call volumes can offer seamless experience to their customer by answering regular queries through live chatbot instead of letting them wait in the queue.
"You put that virtual agent in there and there is no downtime,
no out sick and no bad attitude,"
-Kris Fitzgerald, CTO of NTT Data Services
3. Go for the highest fetching ROI
At the end of the day when RPA is all about cost reduction and efficiency, you should measure the time and costs saved through automation and compare it with the cost to be incurred by implementing the process. Hence, you will be in a better position to prioritize such processes that will save most time and have the highest ROI.
4. Start your implementation with right departments
Implementing RPA in departments that typically involve large number of standard processes is recommended to allow for a large-scale automation. This provides you with the basis for your enterprise automation roadmap and gives you a relatively non-intrusive start in automation.
5. Gradual scaling of RPA
RPA implementation can be very short and technically it is easy to move too quickly to RPA system by adding more robots. It is important here to note that it can do more harm than good if you cannot handle the implications. Hence, you must get used to the process and slowly add RPA solutions as and when required. A post implementation adoption process is necessary to successfully manage RPA implementation.
6. Involving IT right from the beginning
Enterprises often employ RPA as a business initiative and make the mistake of not involving IT in the implementation process. IT with its technical expertise can help solve unforeseen issues related to RPA implementation. It can also help organizations to pick the right RPA software and can help in vendor selection process. They can also help asses existing solutions that can have significant role in the new functionality required.
7. Involving and guiding the stakeholders
Involve and consult your team that is responsible for the process and introduce automation to them. Right awareness and understanding about what RPA brings in and how it will benefit the business amongst the stakeholders is very important. It not only builds confidence around RPA implementation but also prevents any friction to the process.
Robotic Process Automation will yield great results and is an important resource towards an organization's digital journey. Along with efficient workforce management it gives an organization a competitive edge.
Once you have decided to implement the RPA solution, we at Espire Infolabs provide you the right RPA strategy to bolster your RPA implementation which is result oriented, driving business growth and optimum ROI. Feel free to contact us for our offerings
To know more about RPA click on this link:
MORE FROM OUR BLOGS
Designed a scalable Kofax solution to automatically extract and manage key financial data for a leading UK-based real-estate company
The customer depended on physical processing of key financial documents which involved extensive dependence on manual efforts , therefore, required a strategic partner to design an agile tech solution which can automate the invoicing process and digitize key business processes and efficiently manage confidential data.
Automated data extraction and digitized key business processes for a leading UK-based Housing Association
The client needed to develop an agile tech solution which automatically carries out document field extraction from multip-age non–invoice documents with a technology partner for designing a scalable solution which can seamlessly automate and extract multiple line items from documents to calculate the line total while safely storing the data for future needs
Optimized data storage & accessibility with API-based integration for effective data management
Espire designed and implemented a solution architecture to build microservices based on API-led Integration layer for data flow among existing systems, the microservices-based architecture on the Mulesoft Integration Platform provided easy accessibility & reusability of data
Designed a Cognitive Solution for effective data extraction & management for a leading Real estate giant
Implemented a cognitive solution embedded in AI & ML to seamlessly extract data from financial documents like invoices, rent receipts and user data, which reduced manual efforts and reduced costs by 50%
Accelerated digital transformation for a leading housing & real estate company
Developed an automated data extraction platform for seamless extraction of rent documents, receipts and secure data storage
Digital transformation in energy and utilities top 4 use cases of data analytics and bi to maximize
Data Analytics and BI capabilities are disrupting the energy and utilities sector, allowing them to tap into their archival data to design scalable solutions for streamlining operational strategies and delivering enhanced customer experience
Espires top 10 webinars for fy20 21 a win win for us our partners and customers
With FY20-21 in hindsight, in this blog, we share a list of Espire’s top 10 webinars from the past financial year that resulted in win-win for us, our partners and our clients!
Hyperautomation a practical solution for businesses in 2021 and beyond
The task of automating complex systems and processes, hitherto handled by humans, can still not be made possible by one single automation tool, the need is to bring together the different tools and technologies to create a synergy that can help you automate seamlessly, more rapidly and at scale. For this, hyperautomation fits the bill.