Deep Analysis shares economic study on Hyland's RPA software suite
Organizations can realize a 227% return on investment by implementing Hyland’s RPA platform, according to advisory firm Deep Analysis’ findings.
The influx of new applications, data and processes, especially in the absence of clear communication, change management and thoughtful integration, can create gaps in automation and in integration with legacy systems. This may result in employees creating manual workarounds for new inefficiencies, security weak spots and process gaps.
To avoid frustrations like these, it’s important to identify the preliminary use cases for any new technology, as well as fast followers and future-state use cases. It’s tempting, when considering use cases for a new investment, to zoom out and look at everything the solution could possibly handle — “Imagine the ROI!” And while this approach may work to get a new implementation approved, it’s not the best way to roll out said implementation.
Look to robotic process automation (RPA) as an example. While there are hundreds of RPA use cases specific to dozens of industries and departments (and implementing many of them is likely in your organization’s future and in the future of automation in general), it’s impossible to roll them all out immediately.
To avoid the reduced efficiency, security and accuracy that can result from trying to tackle too many use cases too quickly, it’s important to implement RPA in the right places, in the right order.
— Frost & Sullivan
Learn more | Business Process Management
When you’re looking to maximize ROI from digital transformation and begin automating quickly, RPA is a great place to start. Because RPA automates high-volume tasks, it can begin saving you time and labor hours right away.
For example, notes a Frost & Sullivan whitepaper, “A routine regulatory audit may require large volumes of data to be pulled, categorized, summarized and reported. To conduct this through a manual process may take hours or days, and the potential for human error puts an organization at risk for regulatory compliance infractions. An RPA-based system can use a virtual agent to consistently conduct this process and create the report, but with greater accuracy and in a much shorter time frame.”
According to the whitepaper Frost & Sullivan Research Suggests RPA Tied to Company Success, Profitability, “RPA has become a differentiating factor within automation and an enabler of digital transformation.”
While the technology has been around since the early 2000s, its usage “has accelerated with other automation-enabling technologies, such as artificial intelligence and machine learning” Frost & Sullivan says.
Used at its fullest capability, a modern RPA platform like Hyland RPA enables your organization to:
When used alongside Hyland content services and intelligent capture, Hyland RPA can move your organization from paper-based to completely digital.
When individual bots run the next available task continually, with no human intervention required, you’ll decrease the risk of human error, downtime based on resource availability and working hours, and the total time to completion.
As the bots work on mundane and repetitive processes in the background, employees can focus on more engaging and strategic work, boosting their morale. These employees can then devote more thought and attention to the people your organization serves, ultimately resulting in higher customer satisfaction.
The ability to access and process sensitive data without human involvement reduces the risk of exposure and enables defensible audit trails and chain of custody. RPA can also improve business continuity and disaster recovery as copies of core processes can be backed up and restored off-site.
All the actions a bot takes are recorded, beginning to end. These audit trails can be used to debug any errors and optimize process execution.
Because Hyland RPA easily integrates with Hyland platforms and the systems you use today, no extra installation, integration or support costs are incurred, and the systems you’ve already invested in can perform tasks and processes more efficiently and accurately.
Organizations can realize a 227% return on investment by implementing Hyland’s RPA platform, according to advisory firm Deep Analysis’ findings.
In surveying more than 400 IT and business decision-makers about their organizations’ level of adoption of and interest in RPA, Frost & Sullivan found that while implementation varies greatly across (and within) organizations, and different industries approach RPA with varying priorities, there is a universal “typical RPA journey.” That is, companies overwhelmingly find success by implementing RPA in the same departments in the same order:
Here’s why: RPA automates structured, rule-based, voluminous and repetitive digital tasks where human effort does not add business value.
So, the best use cases to start with are those that are structured, rule-based, voluminous and repetitive, and where human effort does not add value. And of all functional business areas, the most rules- and data-heavy in most organizations are IT, HR, finance and accounting.
With that in mind, and with a focus on these departments, it makes sense to look for the opportunities in your unique organizational processes by asking the following questions:
Here are some digital transformation-specific examples:
Legacy systems are often incompatible with modern applications and initiatives, and upgrading these systems is a crucial piece of your digital evolution. But migrating information to modern applications is both time- and resource-consuming. In IT, manual system migration requires employees to engage in massive volumes of tedious tasks that could result in error, inefficiency and low morale.
Seamlessly integrated systems are key to automating entire processes, not just individual tasks. Ironically, though, the act of integrating is often undertaken manually. But it doesn’t have to be. This is a fantastic use case for RPA.
Having humans process sensitive or protected information can increase the risk of intentional or unintentional data exposure or regulatory violation. Why have employees copy and paste sensitive information between systems when RPA can handle it?
Once you’ve seen the benefits of automating and optimizing digital processes by automating mundane, voluminous tasks in IT, finance and human resources, you (and your stakeholders) will want to see what else RPA can do across the organization. How far you take your implementation is referred to by Frost & Sullivan as RPA intensity.
RPA intensity, or the number of departments in an organization that use RPA, correlates positively with the organization’s profitability. That’s right: The more processes you automate, the more you profit.
No matter which industry you’re in, you may find that following Frost & Sullivan’s typical RPA journey, beginning with IT and the back office, gives you a good framework for introducing the technology at your organization.
RPA IT department use cases include:
RPA accounting and finance use cases include:
RPA human resources use cases include:
— Frost & Sullivan
Whether you work for a hospital, a university, a tech company or a local government office, choosing a feasible initial implementation for RPA is crucial. Starting strong means you’ll continue strong. But you won’t realize the full value of a modern RPA suite by keeping it relegated to the back office forever.
The Frost & Sullivan survey found that 82% of organizations plan to implement RPA in at least one new department within the next 24 months.
Here are just some of the ways they plan to do so:
RPA in healthcare use cases include:
RPA government and public sector use cases include:
RPA insurance use cases include:
RPA higher education use cases include:
Learn what success looks like for Hyland RPA customers:
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