9 Key lessons learned from Robotic Process Automation 1st European Innovation Summit
During last week’s Robotic Process Automation (RPA) conference in Frankfurt, organized by IQPC, we had the opportunity to listen to a number of high level case studies from some of the world’s biggest brand names, on how automation with robotics can transform and disrupt shared services, back office and administration processes.
From a two-day conference full of knowledge sharing and valuable insights exchange, here are 9 key takeaways that we think represent the current state of RPA technology and perception:
- The need for robotization is starting to become very clear for departments and/or industries that operate with a high number of structured and rules-based processes, like F&A, HR, Banking, Healthcare and Insurance.
- RPA is still very new and innovative, however the adoption is so rapid that it is projected to move quickly up the adoption curve in the next few months.
- Most companies that have already realized the need for robotic process automation, are looking for the most secure and efficient way to introduce it in the organization.
- It is generally agreed that the most challenging and important thing for an organization getting started with RPA, is the willingness to innovate and the strategic vision of the initiative.
- Companies are advised to involve not just Business and Governance, but also IT and HR departments from RPA discussions day one in order to ensure a smooth and successful transition.
- Starting with a pilot project and choosing to automate one of business bottlenecks or pain-points is considered a wise move as the benefits will be more obvious and employees will be more keen to embrace the new technology with more enthusiasm.
- With the increasing adoption of Robotic Process Automation it is highly likely that we will soon experience a shift in future job skills. Companies have already started realizing the need for higher-value jobs and are investing more in people’s talent in order to become more agile and efficient.
- The new-age drivers for transparency and customer-driven operations are greatly empowered by process automation as RPA is enabling organizations to spend more value-time dedicated to customer interaction and engagement. In addition, by streamlining processes, organizations are able to respond with speed and elasticity to increasing customer demands and thus enhancing customer experience.
- Robotic Process Automation will rapidly evolve in the next months leveraging AI and cognitive technology. At the moment, there has been no actual implementation of such capabilities, however the industry is moving towards that direction in a very fast pace.