Enterprises across the world are slowly going through a digital transformation. As we race to unlock value from the next generation of digital technologies, it is estimated that about 45% of the Enterprise business processes can be automated.
Now, if we look at the automation tools, amongst them, Robotic Process Automation (RPA) is the most sought after tool that is rapidly permeating into most functions and also keeping up to its promise of greater business benefits. While many enterprises have embarked on an automation journey and successfully piloted intelligent automation, very few have been able to industrialise its benefits and unlock its true potential.
A recent study revealed, almost 30-50% of initial projects are stalling, failing to scale, being abandoned or moved to other solution. There are many factors that determine whether an RPA program will succeed or fail. It is important to understand these drivers to mitigate issues that may result in poor business outcomes, leading to abandoned projects.
If you or your enterprise have begun your automation journey, you too would have experienced certain challenges. Whether it is in the strategic front, enterprise program management, process and technology or people and change, enterprises are finding it extremely difficult to look beyond these challenges and reap the benefits of RPA. This is mostly because of the inability to get RPA benefits as per business case, the lack of visibility on the RPA’s performance and difficulty in scaling the implementation. Some organizations have also faced challenges such as hostility from the employees, uncertainty in terms of selecting the right processes, training their workforce to handle automation etc…
While in most cases, the intentions seem to be in place, the initiatives have failed to achieve the desired objectives. You can partly blame it on the overpromising and under-delivering agents, however, it is majorly due to the lack of knowledge on part of the early buyers in terms of applying this technology and identifying the most suitable business cases.
In order to be able to know how to reap the benefits of RPA, one needs to be able to measure the performance of the RPA tool they have implemented in their organization. Measuring the success of RPA programs is a challenge for most organizations as the technology for RPA or intelligent automation is still new. Without clear benchmarks and key performance indicators, organizations struggle to plan their RPA programs for maximum effectiveness. Further, it becomes difficult to evaluate the impact of bots on the workforce and roll out relevant change management programs, which may lead to poor adoption and abandoned projects.
Here’s where you need the RPA Balanced Scorecard Framework. BSC helps organizations address the above mentioned challenges using a comprehensive set of measures. It is a powerful and strategic tool that enables enterprises to track, plan and execute a RPA programs. It captures a holistic view of the cost savings and service improvements with a strong focus on people and change management. By identifying the financial and customer impact as well as enterprise program, people and change management processes, this framework acts as a one-stop tool that tracks and evaluates the short-term and long-term health and benefits of RPA programs. Through proper planning and execution, this tool helps enterprises benefit from continuous process automation, productivity improvements and cost savings.
Originally developed by Dr. Robert Kaplan and Dr. David Norton as a framework for measuring organizational performance using a balanced set of measures, The Balanced Scorecard FrameworkTM provides additional non-financial strategic measures that ensure long-term success. This framework has evolved over time and is now considered a fully integrated and strategic management system.
One of the concerns around RPA that is discussed, and often ignored, is the impact of RPA on the workforce. Any organization with an RPA implementation plan should adopt a long-term view when considering the impact of bots on the workforce landscape. The RPA BSC helps organizations do this by focusing on ‘people’ and ‘growth’ to plan for a smooth transition and track progress. Additionally, the RPA BSC framework can be used by enterprises across the RPA maturity spectrum, i.e., for beginners, adopters and leaders. It delivers benefits across the enterprise for various roles.
Today, several early adopters have realized that RPA is not just another automation solution but a strategic platform to re-imagine how operations can be modernized and optimized. Companies in today’s hyper-competitive landscape are looking to go beyond automating tasks, towards creating new and ongoing value for the organization. If you are already on the path of automation and planning to onboard one, start your journey with the help of the RPA Balanced Scorecard Framework. The earlier you do, the sooner you would reap the benefits of RPA. If you are ready to scale and gain the benefits of digital transformation led by automation and AI, EdgeVerve’s RPA Balanced ScoreCard FrameworkTM is just for you.