Debunking the 6 Myths about RPA in Enterprise
Robotic process automation (RPA) has become popular with enterprises in recent years and can be most simply explained as ‘a robot who mimics human actions’. It is heralded for streamlining workflows seamlessly thereby making organizations a lot more profitable and responsive. It is also commonplace for it to increase employee engagement and productivity by removing repetitive tasks from the workforce.
Almost any front or back office process can be automated with intelligent automation. It is ideal for automating legacy systems that lack APIs, database access and virtual desktop infrastructures (VDIs) and can efficiently be implemented to propel a digital revolution.
However, as with anything that is a product of the current times, there are some common misconceptions and myths about its long-term impact. There isn’t a lot of information given to truly comprehend the benefits of RPA across all industries, and we are debunking those falsehoods and setting things right today!
RPA Myth #1 - It does not give a return on investment
Enterprises are always seeking new ways to reduce costs and save resources. Recently, more and more companies are turning to RPA bots in order to automate in-house. RPA does have initial implementation costs, but these are typically nothing compared to the often exorbitant costs that accompany management software.
When done right, RPA implementation delivers value virtually right away, just like Carta witnessed over $1M in cost savings with self-service automation. So when road mapping your RPA journey, you want to look for full-proof results that would positively impact your bottom line. Identifying what a conversational automation return on investment looks like is essential for leadership buy-in and organizational implementation and support.
The key to deriving the most ROI is slow but consistent adoption across all departments of your organization. RPA offers superior customer experiences, noteworthy error reduction, and significant cost benefits in short timeframes. RPA is easy to implement and known for delivering significant ROI and time-to-value benefits for enterprises.
Pro Tip – Tools that fail to scale and boost productivity can hurt your profitability.
RPA Myth #2 - It is not relevant in my industry
Modern Cognitive RPA technology has transformed how businesses automate. The reality is that automation in back office tasks are required in every industry and is useful for any repetitive, structured and rules-based business activity.
RPA can be used across all sectors –
- To manage order processing by default in the retail industry
- Automatically detect fraud in the banking sector
- Communicate with customers in any field
- To process claims in the insurance space
- Schedule appointments for patients in the healthcare industry
92% of industries agree that RPA has exceeded expectations for better compliance and Deloitte’s annual global survey concluded the results with improved compliance (92%), improved accuracy (90%), improved productivity (86%) and cost reduction (59%).
RPA Myth #3 - It is Unreliable
Leading RPA solutions are equipped with strong security tools to ensure safe and reliable operations. They can protect sensitive data, run access controls and provide full coverage visibility.
The end game of RPA softwares is automating desktop-based workflows and back-end business processes. Successful deployment of RPA within an enterprise showcases benefits like –
- Enhances accuracy and monitors the execution of operational efficiency
- A virtual workforce that promptly responds to business requirements
- Culture of collaboration and innovation
- Helps employees focus on more meaningful, strategic tasks.
As automation becomes more widespread in order to increase productivity and reduce costs, RPA will continue to be a major solution for the challenges workforces face, with a scalable, digital workforce.
RPA Myth #4 - It will take away jobs
Making business decisions and talking to clients and strategic planning requires human ingenuity, and that comes forth from the brilliance of the human mind.
Automation softwares is becoming more and more intelligent, but that doesn’t mean RPA will replace human intelligence or human employees. Rather than spending time responding to the high volume of repetitive and mundane customer inquiries/complaints, the automation relieves employees and gives them back their time so they will be able to focus on high-value work needed for complex case resolutions.
In fact, RPA has resulted in new job opportunities. Companies are searching for people who can help them implement and manage automations such as – RPA developers, engineers, analysts and more.
RPA Myth #5 - It is not required if an iPaaS service is being used
iPaaS solutions standardize how applications are integrated. Developers, consultants and even non-technical users use iPaaS to build integration flows to share data within an organization or external companies.
Organizations can connect different applications, business processes and data, whether hosted on-premises, or in a private/ public cloud environment, and this has its uses but iPaaS and RPA technologies have their unique strengths. When combined with artificial intelligence, a hyper-automation solution drives the show and that can scale and cover all aspects of automation challenges.
Scaling is the key component here. And RPA with iPaaS offers a long-term solution for automation that relieves organizations of menial work and executes digital processes independently. Schedule a free consultation with our AI experts, and let’s look at how we can use your current data to improve your revenue trajectory for 2023 & beyond!
RPA Myth #6 - It requires you to automate EVERYTHING!
At the very onset, automation seems like a huge undertaking that requires organizations to go all in. They think that RPA needs to be adopted across every process, but trying to automate everything at the get-go lacks a focused strategy.
You can start small and determine which are the prime areas that will be most beneficial. Pick tasks and processes that will deliver quick wins. Essential processes like report generation or claims processing are a good place to start. Finding an RPA solution that grows and scales your business is critical for how your company moves forward.
- Spanning industries, RPA saves money and improves business metrics globally
- Increased value from personnel as they are able to focus on more strategic work
- Happier employees increases the rate of employee engagement
- Automation boosts employee productivity
- Higher accuracy as RPA reduces manual errors
- Greater resilience to match workload peaks and spikes in demand
Even with so many misconceptions & myths surrounding RPA it is visibly remodeling the entire landscape of how daily operations get done. Aisera is known for scaling companies and bringing in big numbers! Our top-notch technology is known in Silicon Valley to impact companies like Dave, Zoom, Snowflake and McAfee. Get in touch with us, and see how we can help you champion your digital transformation journey!