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While digital transformation becomes an integral part of enterprise strategy, various hurdles need to be overcome in the process. Adopting new-age technologies and making changes to existing processes and practices pose challenges. Let’s consider some of the challenges posed by Robotic Process Automation (RPA) and Intelligent Automation to see how industry leaders are facing them.
New technologies pose many challenges as there are “unknowns” that make strategy development difficult. Here are some factors that enterprises must consider:
An agile approach, starting small but quick with a key decision-maker, is the best way for enterprises to strategize and address challenges.
Onboarding the right set of people who have the required skills and knowledge is essential while adopting new technologies. Hire people with business understanding, technical skills, and expertise to direct the enterprise in the right way. Consider contracting, partnerships, and upskilling as well, apart from hiring AI and RPA experts.
Today, there are plenty of platforms that allow application development with minimal coding knowledge. Exploring low-code MXDPs for AI, RPA, and BPM can be practical and cost-effective. Keep the hiring capabilities of the organization in mind and pick transformation efforts that don’t involve drastic learning curves.
Returns on Investment
Predicting and determining the effectiveness of these technologies and arriving at a perfect ROI model can be complicated. With one-time investments versus subscription-based models and different vendors with drastically different models based on automation, the software, or the platform that manages it, prediction gets complex.
Apart from expenditure, calculating savings and revenue generated also need multiple factors to be taken into consideration. ROI cannot be based only on the number of employees that the technology can replace. The personalized and efficient service enabled by these technologies, and the impact they have on EX, CX, and the overall enterprise productivity need to be considered for calculation.
So, realistic expectations and a broad analysis are required today. Move beyond trying to determine an accurate ROI model. Instead, get started, and let use cases measure ROI, and decide if large-scale adoption is viable for the enterprise.
The Right Pick
Selecting the right vendor and use case is important. Multiple vendors are offering the same services and various use cases that come into the picture as well. The best way to go about it is to determine the features that the enterprise will prefer and benefit from, such as AI, ML, IoT, cloud deployment, etc.
Next, talk to the vendors and have a use case discovery session. After this, get proof of concept from various vendors to evaluate the RPA application. During this process, it’s important to ensure maintenance, monitoring, and review of the automated processes.
Adopting new technologies isn’t always easy for all. Many people are afraid of change and the possibility of losing their jobs. So, a people-centric approach is required. It is crucial to understand the possible impact of this technology and ensure people get the right message. Asking employees about their pain points and explaining automation benefits will ease the process.
What’s best is to consider platforms that easily integrate with the current working habits of employees. A UI that’s easy, friendly, and helpful without any threats will enable seamless change management. Host sessions to educate the workforce on new technologies like RPA and intelligent automation. Highlight its benefits and minimize the myths that surround technology for clarity and smooth transitions.
Take a look at the Neutrinos Low-Code Platform that insurers are leveraging for RPA and other digital transformation initiatives. Read our blog on Intelligent Document Processing for more information.