“Right from the 1990s, businesses achieved unprecedented levels of speed, accuracy, and cost efficiency by using technology to do so much more than what a human workforce could. Recently, a transition to Robotic Process Automation (RPA) and artificial intelligence-driven cognitive automation to transform businesses is one of the foremost game-changers among the emerging technologies. Organisations with a large scale as well as mid-size workforce will benefit from introduction of RPA as it can eliminate redundant tasks, boost capabilities and ultimately save money. But the reality is that even low scale organisations and entrepreneurs are showing interest in process optimisation through technologies like RPA. The Robotics and Intelligent Automation (RIA) spectrum is broadly divided into three categories with some capability overlap across categories: Basic RPA, Enhanced Process Automation and Cognitive Automation (IQ). The first few to kickstart their process automation journey mostly ended in failure leading to reputational, financial, and legal damage. The management of companies then wondered:
• Was RPA a one-time, cost-effective solution constituting ideal mix of basic, enhanced and cognitive automation?
• Did we identify and evaluate all the risks and benefits involved in existing and future automation opportunities and what are the expected regulatory compliance requirements to adhere?
• Is there an effective business continuity plan in place in case of RPA failure?
• Most importantly, how important is it to identify in-house or external consultants who are Subject Matter Experts (SMEs) who can support the RPA transformation…”
Contributors: KPMGCategories: SIG U Resource, Whitepaper
SRC Type: Disruptive Digitization, Robotic Process Automation (RPA)