Technology is constantly evolving. A study conducted by Deloitte shows that 90% of CEOs believe they and their employees are being disrupted by the rapid pace of technological changes and are finding it difficult to prepare for what lies ahead. Robotic Process Automation has proven to be a technology that helps organizations make better use of the technology they already have with increased efficiency, reduced cost and improved morale.
Your competitors are looking into RPA – here’s why
2020 is poised to be a banner year for RPA. Another recent Deloitte study found that 64% of companies have already begun their RPA journey in one way or another with successful implementations across most industries. Your competitors are most likely looking to RPA because of the countless benefits it offers their organization.
Here are the 5 reasons your competitors are looking into RPA:
1. Improves efficiency.
RPA enables you to maximize output by automating repetitive, labor intensive, time consuming tasks. Essentially, it allows you to get more done with less! Highly skilled employees can then use their time to focus on high-value business operations while automation completes routine, manual processes.
2. Boosts productivity.
RPA is quick to implement and won’t cause any downtime in operations. We know it’s tough to get organizational buy in on technology changes - RPA has some of the lowest employee resistance of all IT implementation projects – with only 17% reporting resistance from employees. RPA will ultimately improve your bottom line and your employee’s satisfaction, by allowing them to focus on higher impact, less mundane projects.
3. Eliminates human error.
Human error is one of the largest avoidable costs within organizations – representing $62 billion globally. With Robotic Process Automation, human error simply isn’t a factor. Implementing RPA makes you more efficient and productive while eliminating the risk of human error from your workflows. The best part – RPA is easily scalable, leaving the door open for you to build on your RPA successes.
4. Helps them stay competitive.
RPA presents a huge opportunity when it comes cementing your competitive advantage. With less repetitive, time consuming tasks on their plate, your employees to are better positioned to focus on high-value tasks positioning you for success.
5. Produces long-term ROI.
According to the Institute for Robotic Process Automation, an RPA bot “costs about one-third the price of an offshore full-time employee and one one-fifth the price of an onshore worker”. RPA projects typically generate ROI within the first year – multiple studies have shown a range from 30 – 300% return. This makes RPA one of the fastest ROI generating IT projects out there. As more and more tasks can be automated, the return on investment grows.
How RPA can benefit you
RPA has shown continuous growth over the past few years and is now becoming accessible for an increasingly wide variety of companies. Choosing the best implementation partner is critical to the success of an RPA program. fivestar* has built RPA solutions in healthcare, financial services, retail, and government. With 23 years of experience under our belt, we have the skills and knowledge required to help you get the most value out of RPA.