By JOLT Experts on Jan 10, 2019 1:02:53 PM
In the last two years, Gartner has had over 2,000 interactions on robotic process automation (RPA) topics. Far exceeding other technology discussion topics, reflecting the amount of interest and excitement about this technology among business and IT leaders across all industries.
By 2020, Gartner predicts that 90% of large and midsize organizations will have at least one process supported by RPA. With the ease of implementation and low acquisition cost, RPA should be a digital innovation initiative for companies of all sizes.
- Rapid time to value — RPA has fast implementation cycles, in average as low as six to 10 weeks, as opposed to months and years of implementation cycles with other new technologies including AI and ML.
- Low cost of acquisition — RPA software license fees and implementation costs are just a few thousand dollars to start as opposed to millions with other technology platforms.
- RPA technology is ubiquitous and non-intrusive — RPA technology works across many heterogeneous systems, and its implementation does not require hard integration with existing technologies. RPA comes with connectors and/or is already pre-integrated with all general business suites including SAP, Oracle and Microsoft.
- Quick ROI realization — Clients could perceive ROI in a matter of 8 to 12 weeks, meaning right after the implementation. This could be from direct or indirect cost savings ranging from FTE hour reductions, lower turnaround times, production efficiency boosts, ease and flexibility in process executions, etc.
Consider how your industry competitors could already have started to boost their business outcomes by adopting RPA, Gartner estimates that over 10.000 companies have begun implementations of RPA and are already moving to scale it to the next level, by the end of 2018, 60% of organizations with 10.000+ employees will have deployed RPA, ramping up use cases across business units, functions, and geographies. This is data that should be giving you serious FOMO if you’re not dived in to RPA yet.
RPA adoption rate by industry
Source: Pegasystems survey
From the business perspective, the benefits that RPA can deliver are abundant, these include:
- FTE hour reduction
- Productivity boost
- Turnaround time cut
- Operational expenditure reduction
- Error-free data processing
- Labor upskilling opportunities
- 24/7 availability
- Compliance and audit trail
- Competitive advantage
On the technical end, both business and IT leaders will appreciate the ease and agility that RPA implementations offer, as well as solving issues such as data and application integration without relying on the use of complex APIs or coding, better yet it won’t be disrupting your business’ daily operations. Some of the technical advantages that RPA offers include:
- Quick implementation cycles
- Low cost of acquisition
- Pervasive and non-intrusive technology
- Quick return of investment
- Facilitates data and application integration from legacy, cloud, and on-premise systems
The costs of not automating corporate manual tasks
- Growing operational inefficiency
- Reduced productivity
- Customer dissatisfaction
- Higher risks in compliance and security
- Business processes inconsistency and low visibility to detect gaps
- Lost revenue
- Increased labor costs for manual, repetitive tasks
Don't miss the opportunity to get ahead of the curve and jump on the RPA bandwagon, contact us today for a free assessment on how to get started with Robotic Process Automation, and enjoy gaining significant business advantage over your competition in the digital age.