Calculating Total Cost of Ownership (TCO) of an RPA solution is an essential step for organizations to get a clear picture of how RPA adoption will impact profitability over time and ensure they select the right tool to meet their automation needs. On a fundamental level, TCO begins with the implementation of hardware and software, but these initial investment costs are not the only determining factors.
To make a well-informed decision, RPA buyers need to consider the ongoing total cost of ownership, beyond implementation. Costs unique to robotic process automation solutions that factor into TCO include:
- Cost of Automation Development
- Cost of Change
- Cost of Management
Keeping in mind that TCO only looks at the cost side of the equation and does not calculate the overall value the solution has to offer, it is just as important for RPA buyers to examine the features and benefits of their RPA solution to get a better understanding of the true TCO, during an automation asset’s full lifecycle.
To help you calculate the true TCO of your RPA tool, we have carefully reviewed each cost factor and highlighted the features to look for to reduce these costs:
Cost of Automation Development
First and foremost you want an RPA solution that can be up and running smoothly and rapidly, with minimal disturbances to other technologies and organizational resources. Ease and speed of implementation are essential criteria for selecting an RPA solution and have a large stake in TCO outcome.
Look for non-evasive RPA solutions that can be deployed quickly and easily
Solutions that call for complex system integration with existing applications or a great deal of custom scripting are a burden on your development team, extremely time-consuming, and can be prohibitively costly if you rely on external resources. By incorporating Kryon's patented visual technologies, Leo RPA interacts with applications at the presentation layer and can work across any business application (desktop, web, legacy, Citrix) with no code development or integration with existing applications. As a result, RPA projects can be up and running in days versus weeks or months - leading to enormous cost savings and quick return on investment.
Cost of Change
As we well know, change is a constant part of organizational reality - applications, people and business processes change all the time. A company's survival often depends on its agility and responsiveness to unpredictable market forces and potentially disruptive costs that can be accrued as a result.
Look for scalable RPA solutions that are responsive to change
Many RPA vendors boast authoring environments that deliver fast and simple creation of automation scenarios using drag-and-drop tasks, preconfigured connectors and application specific scripts. This means that changes or upgrades to underlying systems, applications, or technology do not require complicated rework to the automation process and can be addressed by the process owners. In some cases, it is not even necessary to redo the entire process recording, but only the portion that is affected by the change.
Case in point, Kryon's Leo RPA platform was specifically designed with business users in mind. Leo's authoring environment is easy to learn and does not require programming experience. This allows organizations to quickly identify business processes for automation and just as quickly the opportunity to offload these processes to software robots - keeping them ahead of the competition and accelerating revenues.
Cost of Management
The ability to manage and control your robotic workforce is no less important than managing a human one. As your virtual workforce grows, this becomes especially critical to ensure you maximize the productivity of your workforce.
Look for intuative RPA solutions that make it easy to manage your virtual workforce
Managing your RPA projects should be simple and straightforward. Solutions such as Leo, include a dedicated web-based management console that enables real-time monitoring, remote configuration, scheduling and management of your robotic workforce. This allows you to decide how many tasks your Leo Robot workforce are assigned allowing you to maximize virtual workforce capacity when volumes increases occur to leverage robots that are underutilized.
Building an RPA Center of Excellence (CoE): Delivering on the full promise of RPA involves developing a range of new competencies and related skills, across the organization. If your RPA tool necessitates the use of external service providers (SI's, consultants, IT development, etc.), then the cost of change can be significant and your ability to respond quickly to change can be hampered. Building an RPA Center of Excellence (CoE) further reduces the ongoing cost of ownership, while providing the ability to respond rapidly to business and change requests.
Expanded RPA Possibilities: Today's intelligent RPA solutions are flexible enough to serve multiple purposes. For example, Kryon's 2-in-1 platform can be deployed to work ‘unattended’ on a virtual machine (traditional RPA) or it can be deployed on an employee’s desktop to provide ‘attended’ automation. With 'attended' automation users can automate ‘swivel chair’ activities within the business application so they can engage with customers or simply focus on the task at hand. These solutions provide a greater ROI on RPA investments and deliver corporate-wide business process improvement.
Kryon Systems is committed to providing intelligent Robotic Process Automation (RPA) solutions to make digital transformations faster and easier. Our flagship platform, Leo, enables companies to automate high volume, repetitive, and time consuming business processes to impact business outcomes with significant ROI results on automation investments and low TCO.