From small companies to large enterprises, Robotic Process Automation (RPA) is helping CIOs transform the way they use and implement technology. With 53% of organizations implementing RPA in some way, the reports of ROI are startling, up to 300% in the first year. So why isn’t RPA being adopted by every company? The answer is simple – as with all new technologies, there is a fundamental lack of understanding across leadership about RPA and its value. This blog addresses 5 key questions CIOs have about RPA and its value that can be easily communicated to business stakeholders.
The 5 Questions All CIOs Have About RPA
How quickly can I implement RPA?
RPA solutions can be quickly integrated within an organization’s workflow, and quick to demonstrate value. Typically, RPA deployments take less than two months
Should we build or buy?
What's most cost effective - a traditional bot or a custom solution? Traditional RPA bots aren’t always the answer. The decision is largely influenced by these 3 factors:
Traditional RPA bots are getting smarter and smarter, but there are plenty of hurdles that they can’t clear. Current best practices involve having a human “Bot Manager” with the responsibility of managing bot access to secure data. A custom RPA solution can be built with your specific security goals in mind, eliminating the need for human interaction.
How complex of a task are you trying to automate? The more steps and interfaces a bot needs to interact with, the more likely things will go wrong. Purpose-built custom RPA solutions more reliably perform complex tasks because they are built to do exactly that. If you’re looking for an end-to-end automation solution, a custom solution can be built to your specific requirements. Forrester analyst Craig Le Clair recommends that traditional RPA be governed by the rule of fives: “No more than five decisions, no more than five apps, and no more than 500 clicks.”
CIOs need technology that performs. Custom solutions simply perform better. From enterprise level automation to simple integrations – this is always the case. Full control over your solution means that you get exactly what you want, with no unintended consequences or additional concerns.
How will this affect cybersecurity?
Cybersecurity is one of the top concerns for every CIO. RPA has the potential to address a host of cybersecurity problems – from collecting data faster and more efficiently to reducing human-error. As more data is being fed through different online channels, businesses are more at-risk for data-leaks and breaches in security. Since human-error is eliminated by RPA, it will quickly become a tool for risk and security management in 2020.
Not all RPA implementations are the same – traditional bots can have different security gaps and with that – different security concerns. Gartner recommends an assessment from a testing supplier should be a requirement in the selection process for any RPA tool . These testing providers can give assurances that the tools have been tested for vulnerabilities and security flaws. Make sure you know what you’re getting, if security is paramount – make sure that the bots you’re using reflect your requirements. Custom RPA solutions can be built to suit your specific compliance and security goals.
What’s the ROI and how do we measure it?
Like any other project, measuring ROI is based on setting key metrics before beginning your RPA journey. Measures can include reduction in labors hours, increased velocity at which processes can be completed, improved data accuracy, and higher employee satisfaction (RPA has high adoption rates because it eliminates mundane tasks). You need to assess which metrics drive the most value for your organization.
Is RPA scalable?
RPA delivers its greatest value when implemented with scalability in mind. With the right preparation and planning, RPA can scale as your organization grows. At the start of each project, fivestar* looks across multiple dimensions that impact scalability including changes in workflow and systems, and expanded usage.
53% of organizations have begun to implement RPA – that number is only going to grow. You need to know that the technology they’re implementing has proven, measurable value. If you’re thinking about implementing RPA or bringing RPA to your clients – you should be prepared to answer these 5 questions.
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About the Author: Cameron Avrigean
Cameron Avrigean is a Marketing Coordinator at fivestar*. Cameron is an analytics fanatic with a penchant for copywriting and social media. He works with the marketing team to create engaging content, and is looking for the next big thing. Cameron holds a B.S. in Business Management from Point Park University.