While organizations from all parts of the world seem to be smitten by the benefits of Robotic Process Automation (RPA), surprisingly, only a few have succeeded at harnessing it to their advantage. As per a Forrester report, the RPA market is expected to grow to $2.9 billion in 2021. The market was valued at only $250 million in 2016. Many research firms anticipate that the RPA market will grow at a CAGR of over 36% and that the market size would cross $8 billion by 2023!
By automating recurring costs, enterprises have experienced more productivity, enhanced efficiency at lowered costs. Although automation has become an everyday term, the results indicate that not everyone has tasted success with it. If automation is slated to be the next best thing, with enterprises across the world vouching for its impact on their businesses and economy, why is it that we are yet to realise the full benefit of automation? Why is it that only a few have been able to make the most out of it?
Automation is that one word, which always creates excitement amongst business leaders, CIOs and the likes. Though, it has become a buzz word in leadership communications and strategic meetings, little have the industries experienced in terms of automation success and ROI. Getting processes automated and doing so successfully are two very different things.
Though vendors and service providers lure customers by calling their RPA solutions as easy to implement and maintain, it is easier said than done. As per a recent report by KPMG and HFS Research, there’s a significant gap between expectations and reality in the RPA space. While enterprises understand the benefits of RPA, the study found that many are not yet ready to implement it effectively, with only 13% of enterprise RPA initiatives achieving scale across the entire organisation, according to their survey.
While automation has become imperative to stay relevant in the market today, it would yield results, only when processes are automated the way they should be. Currently, enterprises are approaching automation as a short-term plan, without aligning people and implementing effective change management. Effective roll-out of RPA calls for adhering to certain practices, which ensure smooth implementation and success.
So, what does it take to taste success with automation?
As automation is known to significantly improve business response time, efficiency, accuracy and reduce man hours spent on time-taking repetitive tasks, organizations may want to automate every process. But it is advisable to plan it better and make the best use of time and resources needed to implement automation. As many organizations move to build their automation capabilities, there are certain best practices that help differentiate successful efforts from others.
Here are some of the best practices that could help you realise success in your automation plan.
There are various factors that lead to the success of an automation process and each one must be taken into account when automating processes in an organization. If done without contemplating the good and bad, it would not provide the desired outcome. The above given seven commandments are the best practices to reap the benefits of your investment. Follow these best practices and assure automation success for your organization.