The RPA ROI Debate Is Finally Settled
The CFOs can now see quantifiable benefits of automation, ight from the start.
Industries are reaping operational excellence with Robotic Process Automation(RPA) across functions. There is no ambiguity over the transformational impact of intelligent automation. But, experts are divided the over Return of Investment (ROI) and execution timeline. Whatever the conclusion of the debate may be, your RPA initiative must project the ROI upfront.
The ROI Quandary and CFO Dilemma
Return of Investment (ROI) is a key success measuring tool in RPA. The heated argument over quantifiable benefits overshadows the impact of automation on operational efficiency and process time reduction. As we discussed in our last blog, often, prolonged, multi-phased implementation of RPA bots forces organizations to abandon the process.
According to a recent survey report, 69% of RPA projects fail to take off for inherent complexity in project execution and lack of clarity on the intended automated responses
Certain service models take years to deliver the projected ROI while incurring additional costs for automation tools, process development, and maintenance.
We are with the CFOs, for their concerns over investments are real. But, this should not delay their automation journey any further.
RPAaaS - The Solution Designed for ROI
McKinsey states that RPA is a promising new development in business automation that offers a potential ROI of 30% - 200% in the very first year. But, the lack of RPA service providers delivering on this promise makes enterprises stray from their automation goals. As per Gartner insights, organizations must push for a holistic ROI formula that includes more qualitative measures, in addition to the typical quantitative cost measures such as person hour reduction and process time optimization. The advanced solution model that provides an added layer of managed services to a typical RPA implementation can give customers efficient payback in time. Let’s take a look at some of the key benefits of RPA-as-a-Service.
Reap ROI Right From Start
RPA as a Service, takes away the need for recurring investment in platform licensing. The onus is on the service provider to demonstrate the benefits of process automation in a chosen function before the customer signs up for the project. Thus, the organization gains ROI from the initial month, helping them hone strategies based on the primary results. Consistent measurements based on key tools such as performance, process time reduction, and overall functions provide a roadmap for planning the next step in automation. The solution model aims to bring down the RPA abandonment rate by organizations and gain business sponsors’ confidence. Additionally, the client can demand RPA bots to be designed to meet the elasticity of scale
Goodbye Upfront CAPEX Investment
RPAaaS comes with varied subscription models to suit the specific needs of the organization. Enterprises need not invest a huge capital upfront, instead, they are free to opt for monthly or pay as you grow subscription options. The service provider identifies complex processes, designs, and develops RPA bot based on feasibility assessment for enterprises to experience incremental benefits to make informed decisions.
The result - a change in perception amongst leaders and trust of the CFOs in the values that the RPA program can deliver.
Instant ROI with Cloud4C RPA as a Service
Cloud4C RPA managed Service is designed to support organizations in accelerating their automation journey. Our upfront value proposition takes away the uncertainty in terms of stated goals, as we take complete ownership of the outcomes. Our managed services expertise delivers 100% accuracy while adhering to the mandatory compliance regulations and security standards.