At our most recent Think IT Leadership Group Meeting we learned the key to successfully incorporating RPA within an organization and what you need to know before you make this decision. I want to thank George Tegeler, Senior RPA Development Manager at BMO Financial, for leading a very informative meeting on RPA- Robotic Process Automation. I would also like to thank Elkay and Centro for generously hosting our meeting.
George started the meeting by explaining RPA; Building industry-leading capabilities to improve customer experience, support growth, drive productivity, enhance risk management and enable innovation. We learned how the RPA process works. It is used for task automation, as it mimics human-automation and rule-based tasks. It also works as a cognitive function utilizing AI & Machine Learning to automate processes by applying intelligence and judgment. The key features of RPA are as follows; Non-Invasive & Low Risk, Accurate & Consistent, Available & Reliable, Leaves an Audit Trail, and it’s flexible.
Next George filled us in on the many benefits of using RPA in your organization. One of the biggest advantages of using RPA is the immediate and significant reduction in expenditure that it can deliver. When work is automated not only is it completed faster, but it also can be performed consistently at a much lower rate. Therefore, getting greater output for less, which results in a better bottom line. Some of the other benefits of using RPA include Financial Benefits, Customer Experience, Employee Experience, Improved Compliance, and Scalability & Agility.
George finally explained to us that you as a company need to know what kind of “Journey” you would like to take with RPA. Which ownership tools you will use, product selection and what your support model is going to look like. You need to ask questions. Is there a happy or negative flow? Is it updating data correctly and efficiently? There are many things that go into adopting RPA within your organization. It’s never going to be an easy process and it’s not always going to go the way you planned. But at the end of the day, when you and your company know where you want to take your journey, your RPA success will follow.
If you were unable to attend the meeting, please review the slides here.