How RPA might turn out to be an invaluable investment for your company?
“The first rule of technology used in a business is that automation applied to an efficient operation will magnify the efficiency” – Bill Gates
The tide of automation brings exciting opportunities in its wake – the most significant of which is RPA. However, there is still a small amount of apprehension about the effectiveness of implementing an RPA solution. The primary concern of business-owners is – Will there be sufficient ROI for the money invested on RPA?
As market leaders have pointed out repeatedly over time, RPA could turn out to be the best technology investment for your company and could potentially raise your game to the next level.
EApps as a company endorses RPA and has seen several of its clients prosper to soaring heights after its implementation. In order to address the common inquiries and allay any misgivings about the technology, we rounded up our team of RPA experts and asked them to list out the common questions posed by our clients.
Here we have, a selection standard queries which received the most votes for its frequency of occurrences in client meetings and the responses by our RPA team.
- Though I have an idea of what RPA is, I have trouble visualizing it as a technology. Can you clearly define what it is?
Ans: RPA is a continuum of technologies for automating repetitive, structured and transactional processes traditionally done by humans. There are numerous case studies of successful RPA implementation littered over the business ecosystem.
For instance, a global energy company automated more than 100 routine processes for sales and reporting seamlessly without any impact on the existing global process design.
The result? A 67 per cent reduction in time needed for journal entry and invoice processing with increased data accuracy. The corresponding profit was close to £1.5 million. In all, RPA can increase your bottom-line significantly and save the time of your staff.
- How long will it require to implement RPA into my company? Will I realize a sizeable return by the time the system goes live?
Ans: Well, the software is extremely simple to build and the implementation is faster when compared to traditional waterfall models or even agile systems which demand anywhere from 6-9 months. An RPA implementation is much faster – 8-12 weeks.
With RPA, you save time and money on recruiting new staff and their training. In comparison, an automated system delivers the expected results on a much faster rate from day one – no sick leaves or holidays. A single robot can take up multiple tasks one after the other with no fatigue.
- How secure is an RPA system? Also, will there be any compliance breach due to system errors?
Ans. As there is a shortening of response times, RPA can act more quickly to mitigate any potential security breaches. As for compliance issues, more often caused due to manual entry, automation helps you to adhere to all regulatory requirements. In fact, a robot can alert human whenever it senses an exception to its set of approved rules.
- Will there be layoffs in my company due to RPA?
Ans. Upskilling and reskilling are two common terms in the industry today. Over the course of time, we have discovered that productive employees find more job satisfaction on taking up tasks which require cognitive analytical ability, rather than roles which require them to work on repetitive and mundane tasks.
If you are doubtful about the repercussions of automation in your organizations, we suggest you propose you do an employee survey about their roles, expectations and their response on the boring and tiresome aspects of their everyday tasks.
Rest assured, the answer will be a resounding “aye” for RPA.