Demand complete ownership from your RPA Partner
The CFOs can now see quantifiable benefits of automation, right 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
Cost Optimized and High Performing Intelligent Automation that delivers Measurable ROI runs on mature practices and deep domain expertise. Organizations must rise to challenge the unfulfilled promise of process automation, and demand RPA-as-a-Service from their technology partners.
This is the era of automation. Businesses with automated processes could brave through the uncertain times with resilience. According to Gartner, the RPA market has been in upswing since 2018, and this renaissance complements the larger trend in hyper-automation. In the next four years, businesses are likely to cut down almost one-third of their operational costs with redesigned processes. By all means, RPA as an enabling technology has made its mark, as it freed the knowledge workforce for high-value cognitive tasks, reducing process completion time and improving organizational efficiency.
The Unfulfilled Promise of RPA
On the flip side, Robotic Process Automation, the buzzword, is now squawking behind the doors, pushing organizations to abandon their projects halfway. Data as per EY confirms that up to 50% of initial RPA projects fail. The success of RPA at organizational level appears to be a far cry from the projected results. In most cases, C-suite leaders are unable to see accuracy and efficiency in results to convince them of the promised ROI. Are you setting up your RPA initiatives for failure? There is every need for you to tread with caution and demand nothing less than complete ownership of the outcomes from your technology partners.
Distant Return of Investment Alienate Business Sponsors
Robotic Process Automation is implemented through a multi-phased approach. From the strategic planning to implementation and testing, the cycle could be unexpectedly long. Often, the deployment takes much longer than the licensing period, and organizations are forced to reinvest even before witnessing the results. The gap between promised results and the efforts and cost investment widens, making it difficult for business owners to stay invested in the project. At this point, organizations abandon the process to prevent further costs.
Prohibitive Upfront Opex Investment Delay Commercial Approval
McKinsey automation research shows that only 55% of institutions believe in the success of automation. One of the primary reasons is the hidden costs involved in the completion. From licensing to development and operation to governance, organizations are burdened with huge expenditure, beyond the scope of initial projects. Process efficiencies take longer to accrue while the cost of running the Robots keeps mounting. Investment in recurring licensing costs often derails commercial approval. Or worse, the project gets abandoned as the annual license expires.
Stretched Timelines Elude Outcomes
Longer result evaluation time has been one of the challenges holding back organizations from RPA. In a report by Deloitte, 63% of the organizations reported that they could not complete automation projects on time. Also, the results do not justify the value, impacting the potential of Robots in enhancing employee productivity.
RPA-as-a-Service to the Rescue
As per McKinsey research, over 30% of industries have the capability to automate multiple processes. Yet, they do not move ahead with a well-designed, deployed and managed intelligent automation. That's where RPA-as-a-Service steps in to redefine the automation delivery patterns, with total ownership of outcomes, delivering up to 100% accuracy with effective cost benefits.
RPA Managed Services Deliver on Promise with End-to-End Ownershi
RPA-as-a-Service has a multi-stage approach in implementing automation, with the technology partner taking end-to-end ownership. First, the automation experts conduct a feasibility study, identifying the processes that are redundant, time-intensive and voluminous. The second stage is dedicated to solution designing to automate identified processes. High-value use cases are created for process understanding and validation before moving to production. In the last stage, Robots are deployed in client IT systems for data safety and high efficiency as per project scope.
Automated Processes Deliver up to 100% Accuracy
RPA-as-a-Service delivers up to 100% accuracy depending on the nature and complexity of the process. With total ownership of the outcomes, the client IT teams are free from managing the Robots within their environment. Instead, the MSP deploys expert teams to oversee the processes and monitor the Robots.
Guaranteed Outcomes Drive Cost Efficiency
Pay only on demonstrated results - that is a promise not many can deliver on. RPA-as-a-Service thus requires a mature partner with a proven track record of delivering outcomes. The businesses need not purchase annual licenses. The managed service provider delivers process automation advantage with monthly payouts, gaining confidence of business sponsors. In any case, if the results are not impactful, customers are free to walk out, without incurring any loss.
Cloud4C RPA Expertise Sets the Benchmark in Managed Services
Cloud4C RPA Managed Services are designed to make automation impactful for clients across industries. Unlock the full potential of the process with our 200+ man-years of RPA experience and UiPath certified experts. Our solutions have transformed processes across Finance and Accounting, HR, Operations, Procurement, Supply Chain and other sectors for higher efficiency.
We have managed services at the core of our operations. Total ownership is our culture. With us, you get guaranteed outcomes, with monthly payment options. Our mature practice and deep domain expertise deliver the shortest time to value, with unmatched accuracy.
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