Robotic process automation has the potential to revolutionise the way we operate our businesses but without the fundamentals, in place, many of our best-laid plans are destined to fail.
This is the message from multinational consultancy firm EY, which discovered that 30 to 50 per cent of initial RPA projects fall by the wayside. This is an alarmingly large number when the stakes are so high and the potential gains are so massive – and it all boils down to one overarching issue:
You can’t fix processes that you aren’t completely in control of.
It’s easy to get caught up in the hype cycle of what RPA can achieve and dive into the proverbial deep end. From a managerial perspective, it’s easy to believe that your processes are simple and two-dimensional, when in fact they are extremely dynamic and unsuited to automation on the ground floor. The truth is, when you don’t understand your processes completely, then digital workers are not likely to solve your problems.
You need to have a handle on every facet of your business before you can use automation the way it was intended.
The upside is that a business that adopts RPA correctly will reap significant benefits now and in the future, including cost savings, significant process improvements and a wide-scale redeployment of resources to higher, more value-creating tasks.