SS&C Blue Prism, our Diamond Sponsor for the World Intelligent Process Automation Summit, shares their thoughts on achieving ROI from your automation journey. Continue reading:
Millions are being spent, but what about returns?
Millions of euros have been invested in automation globally, yet it’s still not being used to its full potential. Automation is often simply seen as a tactical tool meant for overcoming existing weaknesses and completing straightforward tasks. But there’s far more to it than that. Automation should be strategically implemented to support your key business objectives. In doing so, organizations can transform their operations to continuously evolve and achieve an effective return on investment (ROI).
Join SS&C Blue Prism in Berlin at the World IPA Summit this February for a presentation on how to achieve the best ROI from your automation program
RPA is just part of the story
RPA deploys bots, known as digital workers, to perform repeatable and time-consuming tasks, freeing up employees for more engaging, meaningful work. Digital workers are unlikely to make the same mistakes or oversights as their human counterparts, providing consistency in these tasks thanks to their ability to follow defined rules and processes extremely accurately. What’s more, digital workers are able to work tirelessly, 24/7 and without interruption. So, as long as the processes are sound, the digital workers will be able to create considerably faster process cycles, performing them exceptionally and with no breaks.
Gartner predicts that 72 percent of companies will use some form of RPA in the next two years. Most companies will stay at the baseline level of using RPA to solve simple back-end processing. But RPA’s potential reaches far beyond that scope. RPA is now being used as a vehicle for the latest advancements in AI to create cognitive automation capable of much more. Combine this with business process management (BPM), which orchestrates entire end-to-end processes, then you have an incredibly powerful automation toolkit. This is all non-invasive technology that causes no disruption to underlying legacy systems, providing a full audit trail for compliance purposes. Whether it’s improving customer service, increasing efficiencies in the back-office, or raising employee satisfaction rates, RPA, AI, and BPM can work in harmony to truly transform an organization’s ability to meet any of its key objectives.
By using scalable, end-to-end intelligent automation (IA) and strategic planning through process mining, you’ll start to see a much greater return on investment.
Keeping up momentum
Digital transformation is not stationary, and neither are your business goals. As leaders in the automation journey, it’s important for you to look beyond present successes and strategize for the future. Only 11% of organizations feel confident in their automation strategy and most only achieve a fraction of their potential automation success before losing momentum and hitting a plateau. But with a well-structured robotic operating model in place (ROM) in place, organizations can boost their growth and discover new potential.
To achieve long-term automation ROI, organizations need to examine their current processes and find out where they can be optimized. Many organizations find themselves stuck after reaching their first goal: using automation to simplify workflows. They get comfortable having achieved cost-neutral operations and are unable to see past this first, transactional success. But success isn’t simply achieved upon saving a bit of time and money. It comes when leaders institute transformative success, which is an ever-evolving mark.
Implementing strategic automation
Transformative success comes when an organization’s goals develop from tactical to strategic implementation. Tactical goals are automating established, basic processes. Strategic goals look beyond the day-to-day and find ways to connect the network of your business processes in a consistent and meaningful way. The best way to kickstart this automation journey is by using a process assessment tool to determine the effectiveness of your current program and uncover new growth opportunities. This is achieved through process mining. Process mining uses data-driven analysis software to seek out missed automation opportunities. With this knowledge, you can create a roadmap for viable integration and scaling processes.
Your goals should be flexible and adaptable. Strategic automation requires leaders to reimagine processes, first by looking at the business objectives, and then by working through existing structures to find space for growth and further connectivity. This search is where team collaboration and corporate buy-in are imperative.
How leaders can drive digital transformation
Leaders should be champions of digital transformation if they want to achieve ROI on their automation program. If you’re going to strategically deploy digital transformation in your organization, first you must find where the changes are needed. The best way to achieve this is by encouraging existing employees familiar with your business objectives to seek opportunities for automation and empower them to brainstorm solutions. This is done by establishing a center of excellence (CoE). A CoE sets up procedures and establishes governance to ensure business processes are staying consistent, improving automation and avoiding ROI plateaus. This can be accelerated due to the low technological barriers, meaning no programming skills are necessary to configure a digital worker.
As a leader, you need to focus and commit to digital transformation. For this, you’ll have to get organization-wide buy-in. You should be able to clearly communicate your vision about how IA will improve your organization, using specific examples of tangible ROI opportunities.
It’s important to set up specific roles and responsibilities once your goals are set. Human and digital workers need to be unified and work collaboratively. Assure employees that digital workers will enhance their workflow and speed up processes, not act as their replacement. IA takes over the tasks that humans shouldn’t have to do, improving employee morale by leaving them to work on more creative problem-solving. Encourage curiosity and feedback from employees so they feel empowered to seek out further opportunities for growth. Finally, reward employees who show themselves to be emerging leaders. This will further boost your organization’s automation journey.
Intelligent automation for reaching your goals
IA is more than just speeding up operations and completing mundane tasks at a reduced rate of errors. It uses human ingenuity to expand outcomes and goals, furthering an organization’s ability to progress and improve. It’s about finding growth and transformation so you can have an ever-evolving, higher standard for your business objectives.
Automation is changing the way we work. IA offers endless opportunities, so long as leaders are willing to expand their vision for the organization and are always seeking—and encouraging others to seek—new ways forward.
Want to be a leader in intelligent automation?
If you want to find out more about how to achieve the greatest ROI on your automation program then register for the World IPA Summit, taking place in Berlin on February 16th and 17th.
