What is robotic process automation? What results does RPA bring? What processes are eligible for automation? These are questions that every asks (and should ask) at the beginning of their RPA journey.
We are here to offer answers to all of these questions and more, through a detailed infographic about robotic process automation in 2018. Check out the infographic and full description below.
What is Robotic Process Automation?
A very broad definition that we’ve used before describes robotic process automation as “a useful tool for maximally efficient use of a company’s available resources” (“tool” covers both software and services). Its most important trait is functionality, operationalized in terms of capacity to facilitate an optimal resource allocation leading to best possible business results.
What results does RPA bring?
Automating business processes through RPA can lead to a Return on Investment of between 30 and 200 percent in the first year alone and 20 to 25 percent cost savings, on average.
Robotic Process Automation market size
The market is expected to exceed $0.5.1 billion by 2025 and a potential economic impact of nearly $6.7 trillion — registering a CAGR of 30% during the forecast period.
What processes are eligible for automation
Manual and repetitive
Processes that involve a high degree of manual input, structured and repetitive input or activities that are susceptible to humar error.
Activities with clear processing instructions (template driven), with decision making based on standardised and predictive rules.
Low exception rate
Activities with a low rate of variable outcomes that would otherwise require complex human exception handling.
Processes requiring readable input types, including text based data, user interface (UI) activites (keyboard strokes, mouse clicks, etc). Optical character recognition (OCR) and green screen. Processes can operate within almost any application or environment, such as desktop, Citrix, web, server, etc.
High volume/high frequency
High transaction volume processes (including batch processes), such as those that run end of day and end of month. High frequency processes, such as those that run intra-daily, daily and weekly.
Mature and stable
Processes that are stable, predictable and well documented within the business, with operational costs that are consistent and well defined.
Our recommendation is to commence automation with processes that can be evaluated against a known cost/time base. The cost savings or benefit gained can typically be expressed in terms of greater accuracy, faster response times, reduced staffing costs and higher productivity from reallocated staff.
Automation to avoid
We strongly recommend you avoid automating processes that are either marked for re-work or those that will continually change over the short-medium term.
Benefits of automation
- Operating cost reductions
- Improved accuracy and quality
- Reduce technology integration costs
- Revenue leakage detection and reduction
- Maintain and strengthen competitiveness
- Process speed and timeliness
- Shift from process focus to customer focus
- Rapid scalability to demand spikes
- Headcount flexibility
- Improves risk, compliance and audit management
- Workforce shifts to higher value tasks
- Regulatory reporting improvements
Where to start with automation: key questions
- In which areas or departments do you want to start RPA?
- Do you have budget, or are you building a business case for next FY?
- Have you identified processes to start RPA?
- Process frequency (hourly, daily, semi-weekly, weekly, monthly, etc.)
- What are the RPA drivers (cost reduction, service/quality improvement, reallocation of headcount, reduction of revenue leakage, competitiveness, etc.)?
- What are your timeframes (PoC/Pilot, Initial Production, Full Enterprise Production)?
- Who will lead the RPA program?
- RPA Model — Centre of Excellence, Managed, Hybrid, etc.
- Do you have sufficient resources to start (personnel, IT, HR, etc.)?
Industries that use RPA in Australia
- Financial services
Introducing CiGen — Robotic Process Automation and Intelligent Automation services
At CiGen we offer a comprehensive range of Robotic Process Automation and Intelligent Automation services:
- Proof of Concept / Pilot Program
- RPA Robots for Hire
- Implementation & Training
- RPA Software Licencing
- Management and Support
We partner with organisations to help them actualise the benefits of process automation, achieve rapid ROI and cultivate a flexible operational environment for their future growth.
Our ultimate goal is to energise the organisations and workforce of tomorrow as digital technologies increasingly evolve toward Artificial Intelligence (AI) and Computational Intelligence (CI).
CiGen licences and manages its own fleet of robots which can be deployed at short notice to serve as the digital extension to your workforce.
Applicable scenarios for RPA Robots for Hire
- High volume, low frequency tasks — such as annual, quarterly or ad hoc batch processing
- Limited resources are being hindered by back office processing requirements
- Falling behind on time sensitive or SLA related operations
- Unexpected spike in data entry or data conversion
- Looking to extend capability without increasing headcount
Benefits of RPA Robots for Hire
- Significantly cheaper when compared to an FTE
- No software investment required
- Instant notification of task completion or unexpected scenarios
- Tasks can be executed 24 x 7 x 365
- No RPA knowledge or learning required
- No interference with your day-to-day operations
- Win back time to focus on growing your business
- No technology infrastructure to build and maintain
This article has previously been published on the CiGen blog.