Robotic Process Automation

The quest for more and more automation had already covered a lot of distance, whereas Robotic Process Automation (RPA) stands out as an important legs of that journey. With the help of machine learning and artificial intelligence, cognitive automation will take us even further.

RPA, on its own, offers very important benefits in terms of cost, margin of error and efficiency. It is now drawing further interest with its ambitious approach to taking the concept of outsourcing to unprecedented levels, as corporate operations assumed a more centralized character with the advent of enterprise resource planning systems since early 90s. The digital workforce opportunities offered by RPA provide a platform on which you can perform business processes without outsourcing. Even though the focus is mostly on the business processes involving the back-office functions, other processes entailing data transfers between systems using robotic software or business processes involving data analytics are also among the ideal candidates for automation.

RPA enables implementation in a much faster, economic and comfortable manner compared to a conventional information technologies project to produce the same effect at the same scale. The enterprises which are early adapters of this technology have already began to stand out. What is crucial at this junction is to understand that this technology will soon become a must-have for many organizations seeking to remain competitive, rather than an optional advantage to help them stand out.

Firms do not need to reach to certain maturity levels for seamless adaptation into the RPA technology and employing robotic software in implementing business processes. Today, RPA is often embraced by firms occupying various positions in the scale range, from SMEs to international corporations, as a practicable solution. The future is imminent, and RPA is set to become a must-have for any firm, large and small, in almost any industry. 

Today;

  • 30 to 40 percent of all business processes of an average firm will be affected by the RPA technology (Gartner),
  • An average firm will be able to achieve 35 to 65 percent cost advantages through RPA, based on its business volume and capacity utilization rates (Everest Group). 

In the future;

  • By the year 2025, 85% of more than 900+ processes an average firm executes will be managed by robotic software (McKinsey & Company),
  • By the year 2025, 140 million FTE white collar jobs worldwide will be taken over by robots (McKinsey & Company). 

Major benefits / features:

  • Its potential ability to operate 7/24 will provide faster reaction capabilities for organizations,
  • It is an agile solution as it does not require major changes in and development of the existing system infrastructure,
  • It can reduce the workload by 1/3,
  • Its potential ability to operate 7/24 will provide faster reaction capabilities for organizations,
  • It is a solid investment with less than one year required to see ROI,
  • It is much faster compared to manual operators,
  • It exhibits 100% performance with zero-error rating through the process.

Furthermore;

It is managed by business units – It operates under the business units, with only a minimal contribution from IT department.

It utilizes enterprise software – It operates through user interfaces based on user logins, and thus does not require integration.

It is able to learn – It can minimize the human intervention requirements by learning to handle exceptional cases.

It allows scheduling – Scheduling allows it to run automatically at specified time frames.

It is transparent – It optionally logs the steps performed and the triggers, so as to facilitate auditing. 

It enhances security and quality – It prevents manual errors in business processes.

On the other hand, one should opt for robots in the case of rules-based high-volume and repetitive work with a relatively low number of exceptions, whereas activities based on human relations, expert advice, exceptional perspectives, or activities to lead to change management and continuous development with relatively less prominence in terms of the frequency in overall workload would require human labor. At the moment, RPA is necessary to stand out among the competition, whereas in the near future it will evolve into the virtual workforce you will be obliged to adapt to and employ to stay competitive.

At Grant Thornton, we serve you through the following processes in your journey of digital transformation, with our proven methodology and competent global network. 

  • Process Analyses: The assessment of business processes in terms of their predisposition towards automation, followed by development efforts to ensure adaptation with technology.
  • Feasibility Analyses: Determination of expected cost benefits and productivity gains.
  • Automation, Development and Training: Development and testing of robots to match your business processes; commissioning and training processes.
  • Operation Model: Designing operating models to meet your needs in terms of integrating the RPA technology into the firm’s operations through the digital transformation process; providing support for implementation.