Five Key RPA Facts
Robotic Process Automation (RPA) are robots that allow enterprises to automate repetitive, mundane tasks that were once undertaken by a human workforce. Implementing this technology frees the workforce to work on more strategic tasks and is set to completely evolve the current business landscape. To get a better idea of the current state of RPA, we surveyed numerous professionals to see what approach their companies are taking towards automation. This post shares with you the five main findings from that data.
1. The Majority of companies haven’t implemented RPA
Deloitte has ranked increasing automation processes as one of the most important strategic priorities for shared services. Despite this statistic, 58.6% of people we surveyed about the technology at their organization have not yet implemented RPA. In particular, non-profits and SMEs are falling further behind in this initiative. The number of companies without RPA has decreased from previous years’ statistics, showing that more organizations are entering the first stage of RPA implementation. However, this number shows that over half of companies we surveyed have yet to enter the realm of RPA.
2. Optimism towards RPA rises once it is implemented
As organizations enter new stages of implementation, they become bigger fans of process automation. Our statistics show us that only 3.1% of companies who have yet to begin implementing RPA believe that over 60% of their processes could be automated. Where as, 36.4% of companies who are in the first stage of their implementation can see automation impacting over 60% of their processes. These statistics imply that the true value of RPA is only acknowledged post-implementation.
3. P2P and Accounts Payable functions benefit from RPA
For companies in the pre-implementation phase, P2P was labelled as the product that would profit the most from automation, with 28.4% of respondents highlighting it as one of their priorities. For post-implementation organizations, this priority shifted from P2P to Accounts Payable with 18.2% of people at this stage believing it was the most automatable function.
4. Standardization is the major challenge
No matter what phase our respondents were in, the main consensus was that standardization was the key roadblock when implementing RPA. Automation programs remain dependable on their algorithms and whilst they are incredibly accurate programs, there can be problems if business processes aren’t aligned. Implementing RPA and ensuring its functionality requires extensive planning, communication and a strong governance framework.
5. RPA Implementation is not a process that can be done overnight
Organizations in the testing phase as well as in post-implementation and pre-implementation all agree that RPA is a process that is going to take more than 12 weeks. High percentages of companies throughout all the phases of implementation are aware that RPA is a long-term process. Therefore, for any person or organization starting on their RPA journey must be prepared to be patient if they’re to implement automation processes successfully.