Traditionally, there have been two main ways by which an organisation deals with a change:
- The operations team develop a phased system upgrade.
- A brand new, entirely re-engineered platform is created, with a projected launch date, often built alongside the existing infrastructure.
Let us analyse the challenges faced by a business in implementing these rapid changes:
By the time system upgrade happens, the operations or market may lose the appetite for the change, or simply shift their priority to match the market.
The huge cost to implement the change on an infrastructure may profoundly offset the benefits earned by the change!
Changes to the tightly governed core layer of IT systems carries huge risk. Risk mitigation and regulatory compliance can drain out the last drop of the anticipated benefit of the change!
Now that you have that shiny new system, it will cost to the business, to ensure it remains fit for purpose.
Bringing the whole division up-to speed with the changes, leads to a plethora of often forgotten costs, including HR Learning and Development.
The result is, either the benefits are not realised as anticipated or the pay-back time (Return on investment) is massively extended.
And, here is a catch,
And before we blink, the market has changed! There is a new innovative competitor in the market with all of its operations online from day one! The competition is tough and the Operations require another change!
Here is a real life scenario,
Are the current market RPA providers and their solutions up for the challenge faced by the finance industry?
The systems and processes change all the time, because of FATCA, PPI, Sanctions or other regulatory or competitior requirements just to name the few of the many reasons. The RPA needs to be so agile that it can be amended with a couple of lines of code. Currently, there is a lack of this functionality in their offering.
The only solution here is the “Bespoke” RPA. The RPA solution built using bespoke coding using agile methodology. This can be updated with a couple of lines of code and can always stay ahead of the change.
Robotic Process Automations are beginning to have a profound effect on all aspects of organisations.
In the longer term, RPA means people will have more interesting work which will rely on human emotional or cognitive decision-making virtues.
Instead of filling mundane forms, sheets and documents, staff will be able to click the button and see the process complete, while finding the opportunity to add value to the organisation with their better skill-set.
We hope that this four part blog series (Click here to view all) serves as a good introduction to the Robotic Process Automation and the journey to its successful implementation.
Can your business benefit from such relentless commitment to perfection? Contact us to find out more!