It pays for top managers to step up and fortify their RPA plan
AUTOMATION sets the tone for the future of work as the method is a viable solution for businesses to scale operational efficiency, add speed, free-up time, and reduce costs.
One prominent technology tool that enables automation at its core is robotic process automation (RPA). Essentially, RPA is a great tool to deploy for businesses looking to optimize operations.
In 2018, the technology was deemed the fastest-growing segment of the global enterprise software market. It’s obvious that business leaders are well aware of this affordable and simple technology.
However, are these businesses successfully reaping the benefits from RPA? More importantly, are the executives strategizing their RPA deployment effectively?
A Forrester survey consisting of global data and analytics decision-makers revealed that there are dominant challenges that businesses face when it comes to automation.
To begin with, 25 percent admitted that their firms face a shortfall when it comes to the overall vision or strategy for automation.
Another, 25 percent believe that their organizational structure, readiness, and alignment are gapped while a recorded 26 percent declared that they are challenged by cultural and change management.
While RPA is not relatively new and has established its presence in various enterprise digital initiatives projects, the technology lacks implemental support from the executives.
As decision-makers, executives need to pay attention to their businesses’ RPA deployment plan because a solid implementation strategy can enable automation at a greater scale and support other advanced capabilities.
The technology can enhance business operations by boosting productivity while reducing operational costs at the same time, so executives need to make sure that the bots deliver on those promises.
Having a structured RPA program highlighting the aims, objectives, and desired results can be a good way to start.
At the same time, it is important to identify the processes that will be automated and the directors of each automation project to prepare employees for the dynamic shift they will experience.
On another note, a study has estimated that the world will see an estimated 2.5 million attended bots and 0.8 million unattended bots running in 2020. Not only that, it has been projected that the market value of RPA will reach US$3.97 billion in 2025.
Needless to say, RPA will only increase in importance and relevance from now on since it will influence work culture and impact how tactical business goals are achieved.
Businesses that have already invested in RPA solutions will need to gather intelligence on how to scale automation across their operations, effectively.
Ideally, executives will need to get IT teams to review other processes that can be automated and how to go about investing in these new RPA-based projects.
Of course, the ROI has to be evaluated to ensure that the deployment is able to deliver values and supports digitalization efforts.
In short, managers need to realize they have a pivotal role in helping automation projects succeed.
The key here is realizing that RPA is not only an investment in going digital, but it is also a business strategy and ultimately, a step forward in gaining a competitive edge.