Adapting to new technological advancements in day-to-day business processes and operations is not a luxury anymore, but a need. Regardless of your industry, it is imperative to meet your consumer needs and market standards.
Businesses are already using automation technologies, like Robotic Process Automation in record numbers.
By 2025, the global market for RPA is expected to reach $3.97 billion.
"Between now and then, it will expand at a CAGR (compound annual growth rate) of 31.1%."
As automation begins to take over major business processes and yield greater output. Many organizations, especially the SMBs, are still reluctant to create an automated workplace. In this blog, we will discuss why it is so.
From countless discussions over emails, Skype, and coffee tables, we at "TransForm Solutions" have found the following 5 reasons that impede businesses from adapting to automation:
1. Not having a clear understanding of the ROI
The RPA implementation cost varies from one vendor to another. For instance, let's take an example of chatbots used in customer service. Accord Deloitte, SMEs can pay from $4,000 to $15,000, for one bot.
But what people fail to see in hindsight is that these bots ensure round the clock service and great customer experience amongst many things that saves big bucks. Leslie Willcocks, professor of technology, work, and globalization at the London School of Economics' Department of Management, talks to McKinsey about robotic process automation.
She says, The major benefit we found in the 16 case studies we undertook is a return on investment that varies between 30 and as much as 200 percent in the first year. So, if only businesses do not have a myopic view of the RPA and the costs associated with it, they'll realize how hyper-rewarding automation is in the long run.
Many COOs and try to bring all automation at once. This drastically shifts the way employees work. It doesn't allow adequate employee training time and more importantly no time for the RPA solutions to make adjustments and customizations for the particular business need.
It is wrong to assume that RPA is a plug-and-play game. You need expert RPA professionals along the way for on boarding, deploying, and further scaling of automation in your business operations.
Having an expert RPA advisory team is imperative. It helps you begin with a clear set of objectives, layout goals hierarchy, and design a way forward with automation. It is to say that with the help of a professional team, you can streamline your robotic automation process without overwhelming your current workforce.
Yes, RPA calls for excitement, but it is disastrous when it is met with no-planning. It is imperative to not rush into everything RPA, before proper evaluation of how it can assist your particular business. TransForm Solution recommends prior to implementing RPA. You find yourself an RPA expert, and together find the answers to the following questions:
By doing this, you will realistically assess the extent to which RPA is currently appropriate for your company. And how can you effectively implement it without any loopholes?
Assessing and implementing is just 50% of the work done. Robotic Process Automation is a journey. And it should be taken that way, and not as a one-time event.
Therefore, there is a need for an RPA strategy and resources that take care of the RPA process as it unfolds over time. For RPA to be deployed effectively without any robotic process automation failures in the future.
One should plan realistically for months ahead. These plans shall be made keeping a bird-eye view of businesses and where it needs to head. All stake-holders, associates, and employees shall be in the know of this plan.
A system should be put in place with the help of RPA experts to see that once the automation is done, it stays relevant and rewarding across time. So, now that you know the reasons that cause reluctance to adapt to automation and how they are easily solvable...
The answer is NOW! But we won't keep you hanging without a WHY! Continue reading and you will understand. The fact of the matter is that automation is here to stay. And industry leaders have caught the whiff of its potency and need.
Here's an insight into the RPA investment intentions of thought leaders in several sectors and getting an expert RPA team onboard.
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"TransForm" Solution a Business' Process' Management company has been providing expert talent to businesses for growth and excellence for 18 years now. "Our RPA experts will help you in RPA Consulting, Workflow Automation & Designing, RPA Implementation, and Automation Monitoring & Support."
To get started with automating your business processes and having experts assisting you throughout your automation journey call us on 732 829 6935 or mail at email@example.com.