Strengthen Your Leadership Skills In Implementing Robotic Process Automation
After five years of buzz, there is now a lot of momentum in companies adopting Robotic Process Automation (RPA) technology. At Everest Group, our Pinnacle Model™ research assessed the impact of more than 200 leading companies on digital journeys implementing RPA. Our assessment identified companies achieving superior business outcomes (Pinnacle Enterprises™), including 4X the ROI as other enterprises. We found these enterprises invested in key enablers for speed to impact in digital transformation and took a more holistic, participatory approach to implementation rather than a top-down approach. My conversation with Peter Quinn, who led RPA implementation at a large wealth management firm, reveals several characteristics about the successful approach enabling RPA success and higher ROI.
Where Can RPA Technology Add The Most Value?
Companies that look at automation as a single-point solution – such as how to reduce the number of FTEs in a process – find the payback is modest. Those that achieve the greatest ROI rethink their business from a digital perspective. They take an end-to-end view of all organizational functions and how they can digitize their entire service chain. I can’t overstate the importance of taking this approach, as it gives a company a different lens and different framework to understand where and how to deploy automation.
As Quinn investigated automation and RPA tools in 2014, he recognized it as a technology that could transform his company. “I knew it could help us save money, but that was #7 on my list of seven beneficial outcomes we could achieve with RPA. Transforming the company culture by eliminating repetitive work that people didn’t want to do was #1. Our staff attrition rate in middle and back-office operations was 20-25% and 25-30% in our Indian BPO partner.”
Read more in my Forbes blog: https://www.forbes.com/sites/peterbendorsamuel/2018/05/08/strengthen-your-leadership-skills-in-implementing-robotic-process-automation/#607308a3f6d4
