Many of our members recently enjoyed a stimulating discussion with Joanne Griffin the founder of AdaptIQ, to look beyond the hype to the real opportunities presented by Robotic Process Automation (RPA).
RPA should hold no fears for finance leaders to understand and is similar to other automation projects. Keys takeaways from the meeting were:
The opportunities offer by RPA are significant
Robotic processes offer an opportunity to automate repetitive processes at scale
They offer excellent levels of accuracy, the ability to scale and reduce costs significantly
Don’t implement in a vacuum
Common pitfalls are lack of organisational buy in, not selecting the right processes, poor implementation and insufficient post-implementation support
Its is very important to get full buy in from the IT function and address IT governance considerations
Implementation is a full-scale transformation journey with wide-ranging impact
It is important that the cost of maintaining robotic processes is allowed for at the outset
Build an ecosystem
Automation is a team support
The project sponsor is key
Develop a clear roadmap to capture the return on investment
The choice of technology partner is key
Many RPA programmes are stalling after the proof of concept stage
Strong change management processes and realistic expectations are important
A focus on building transferable skills is required to facilitate scaling
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