It’s safe to say that measuring the value of automated activities in real-time and on an ongoing basis is a top challenge we hear about daily when speaking to companies.
In fact, at the recent RPA for BFSI event in London, we conducted a short survey that revealed nearly 40 per cent of companies didn’t know how to measure the benefits of automation beyond simple cost savings.
We also found that more than 40 per cent of companies surveyed didn’t know how to quantify the total value delivered by their various small automation initiatives.
Not a single company we spoke to was confident it could accurately measure the value of its automated activities in real-time and on an ongoing basis, though we’re glad to report that all companies certainly realised just how valuable this insight would be. Everyone said that real-time automation value metrics were top of their wish list.
So what’s the issue?
Why can’t companies get the automation value insight they need? To start, it’s because end-to-end, automated services involve many processes, systems, teams and people. This is a recipe for complexity, not to mention lack of visibility, reduced control and increased costs.
Beyond that, on all levels, ‘data capture’ is a big challenge that stands in the way of helping companies gauge the true value of automation. Using data from existing technologies, whether that’s workflow, ERP or core applications, is not a ‘given’ – most systems just don’t do a very good job of providing this data.
If you can get past the significant effort that may be required to capture data for determining value, you’re still up against the fact that businesses are changing faster than ever before, and data now becomes invalid at an alarming rate.
And what’s the solution?
Some of the best insight we got from the RPA for BFSI event was that Robotic Service Orchestration (RSO) is climbing up the operations agenda in Financial Services – companies are really beginning to recognise the importance of orchestrating the delivery and management of services across their digital and human workforce.
As a leader in RSO, Enate is working with customers to create a strong foundation for transformation to digital services. This is regardless of both the maturity of automation within the business, and the RPA, AI or Cognitive technologies in play. We’re receiving excellent feedback on the platform’s ability to measure the value of automated activities in a simple and straightforward way.
This works by giving a real-time consolidated view of performance across an account down to the service, team and individual level, and by delivering data and insight that effectively give you your automation road map on a plate to identify opportunities for continuous improvement for your operations.
When it comes to measuring the value of automated activities in real-time, it’s this level of visibility and control aligned to a detailed cost and productivity reporting capability that so many companies seem to be lacking.
It’s not just Financial Services that have begun to focus on the importance of service orchestration for reporting value – we’re seeing it across all verticals, and across both IT and operations.
Measuring value is undoubtedly one of the most difficult obstacles facing companies setting out on their automation journey. To discover how to overcome this and other challenges, check out our whitepaper ‘Tackling the Top 5 Challenges of Automation at Scale.’ Click here to download part 1 now.
Challenges of Automation at Scale: How Robotic Service Orchestration Can Help
Do you know what and when to automate? We’ve identified the top five challenges we see when speaking to companies who want to manage their robot and human workforce to deliver the best service. Access part one of our free report to learn more.