In today’s fast-paced global environment with automation everywhere many organizations have deployed RPA to achieve improved customer satisfaction and process savings.
While RPA has enabled most of the customer services on-demand, people still seem to be confused about the relationship of artificial intelligence with RPA. Some professionals are wondering if their futures are secure.
RPA undoubtedly has the potential to transform today’s workplace because it has reduced the costs associated to human error and thus created an impact on companies and their employees to an extent where it has created uncertainty and fear for the enterprise looking forward to streamlining their operational platform and enhance overall productivity.
According to a Gartner report, by 2020, 20% of organizations that used RPA will have replaced it with another tool, either for a lower total cost of process or improved straight-through processing.
The deployment of RPA tools cuts costs and speeds up the technical processes. This is one of the most hyped digital business technology in the recent years.
However, there are many myths around RPA tools that need to be debunked and explored a bit more. Not to be surprised at the fact that half knowledge is even more dangerous!!
Any enterprise’s automation journey aimed at achieving cost efficiencies and enhancing customer care should not go for a toss. Let’s explore the popular myths about the RPA to set the records straight.
Myth #1. All-round Automation
RPA is not there to automate anything and everything. Yes, of course, it’s true that process automation makes the process fast-paced, accurate and less expensive. But this does not conclude that every process is fit for automation.
Before automating a process, you must be able to probe if automation will save time and reduce production cost while maintaining optimum ROI on that particular process. Only then RPA implementation would make sense.
Myth # 2: RPA is the eternal solution
RPA tools can be used to generate short-term results such as eliminating the need to rekey digitized data, cutting production costs, allowing higher- quality processes and increasing customer satisfaction.
However, in the long run, technology transformation efforts would require the involvement of other technologies too. Be it optimizing business activities or addressing IT challenges in the fourth industrial revolution; it would demand the combined effort of automation tools, artificial intelligence, and RPA.
Myth #3: RPA is platform dependent
Before deploying an RPA tool, it is advisable that you check its compatibility with your platform, as RPA supports heterogeneous platforms.
Enterprise architecture experts and technology innovation leaders must have the technical know how about the functionality of RPA tools to be able to select the right software platform.
Your RPA platform must be able to embed within your ERP system for a smooth and secure functioning of the platform.
Myth #4: RPA is a human replacement
Do you think any such technology exists on this planet that can overpower the human brain? Well, the reality is that till now no such technology has been discovered.
However, RPA stands out with its advantages as robots can work tirelessly for hours together without making errors.
Yes, of course, it has led to a redirection of talent towards customer engagement activities aimed at revenue growth, but that does not certainly indicate any reduction in employee enrichment.
Myth #5: RPA and IT don’t go hand in hand
Without the involvement of IT and governance, the deployment of RPA is risky and will not make any sense.
When RPA and IT work together on professionalizing activities that are currently undermanaged, it opens up a broader conversation about automating tasks and allows the business to facilitate a much quicker set of results and get an understanding of which tools are right according to the scenario.
Myth #6: RPA is error free
Or is it the other way round? Yes, RPA reduces the chances of human error. RPA software robots are capable of making mistakes.
However, they can mitigate the risks caused due to human error. According to IDC White Paper Research, 2008 – human error costs the average multinational corporation an estimated $62.4 million a year.
RPA does eliminate the cost of retaining human employees and their errors, but certainly, we all know that robots do not have any common sense of their own.
This is indicative of the fact that if the command being given contains an error by any chance, this error will be repeated infinite times till it is detected and corrected by a technical expert.
Myth #7: RPA is an overpriced investment
A research survey says more than 90% of BPO service providers confirmed their commitment to invest in RPA technologies.
It is indeed true that RPA tools and solutions can cost up to tens of thousands of dollars. However, it depends on the desired features and the size of the business needing them.
The initial implementation cost of RPA solutions might seem to be a large investment, but when taken into account along with the added benefits it provides, such as cost reduction, increased efficiency, and superior customer experience, the implementation capital stands insignificant.
Myth #8: RPA will shut down BPO’s
With the evolution of RPA, BPO’s have got the opportunity to serve their customers better. This has also increased the percentage of customer acquisition and retention.
The need for outsourcing will always be there because technology can only automate some areas of product development. Operations and higher-level tasks need intellect and cannot be managed by a virtual workforce.
Enterprises would become a back-office processing center without the human resources. Hence, RPA and human expertise are collaborative with each other.
RPA will eventually transform, innovate and maintain a competitive advantage in the BPO sector.
Demystifying the Myths
RPA is still in its budding stage & there are many facts that would be revealed as it traverses the digital transformation journey.
For companies strategizing to streamline their business and operational processes, these Mythbusters would prove to be an eye-opener such that they can position themselves in the digitally disruptive era to reap the benefits of RPA deployment.
RPA has the potential to disrupt many industries; however, before putting its immense power to use, you will need to figure out the use cases that can be best addressed by RPA.
The capability of RPA tools to automate work in a fraction of the time, increase accuracy, improve compliance and reduce productivity costs has overwhelmed many stakeholders.
These skills should not be confused with the expectations of RPA as this alone is the not the solution to your organizational challenges and that one tool will not automate all your business processes.