As fate would have it, the timing of this blog post coincides with IRPA's Automation Innovation 2015 Conference, where over 200 attendees will gather to discuss the most disruptive change in outsourcing today – Robotic Process Automation (RPA). When news of RPA first hit the radar a couple of years ago, it was received with mixed feelings by the outsourcing community. After all, no one willingly seeks to undertake disruptive change unless they are forced to or there are significant benefits to be realized as a result.
Swim at your own risk
As with most change, fear of the unknown means slowly putting your toes in the water; and this was also the case for RPA. In 2015, reports released by HfS research and Gartner went a long way to alleviate these fears. In their report titled "Insights from Early BPO Adopters of Robotic Process Automation," HfS explored the reasons behind 16 major enterprise clients' decision to accept the implementation of an RPA solution from their BPO service provider. And according to Gartner, eight out of the 15 largest service providers interviewed stated that they had either signed deals (or were in the process of signing deals) to incorporate RPA into business processes, applications and infrastructure offerings.
And then the results were in. Early BPO adopters of RPA reported remarkable outcomes, including: dramatic process improvements, cost savings, redeployment of resources to higher value functions, improved productivity, quality and customer service! As the value of RPA and the potential for real (and really big) business benefits became apparent, more and more service providers are realizing the significance of adding RPA to their business strategy.
So go on, take the plunge!
BPOs that are working today to make Robotic Process Automation a part of their standard client services portfolio are already reaping these rewards:
RPA Benefits for BPOs
1. Client Satisfaction and Retention:
BPO providers are expected, and often contractually committed, to deliver innovation. Service providers that leverage robotic process automation in their services portfolio have shown that they can increase value to their existing customers and differentiate themselves to new customers in a crowded marketplace.2. Cost Reduction:
Robotic process automation Process automation enables 24/7 execution at a fraction of the cost of human equivalents. Robotic FTEs cost less than offshore FTEs, usually between 25-50% less. In addition, some of the software robots available from RPA software vendors, such as Leo robots, can handle unlimited processes - allowing BPOs to service more customers with even less resources. Additional savings are a result of eliminating costs associated with training, since robots don’t need to be trained for each process.
3. Increased Productivity
Robotic FTEs operate around the clock without breaks or vacations and at a faster rate than humans, to execute more tasks in less time and increase revenue. And you it allows you to easily scale operations to meet your growing needs and those of your customers.
RPA Benefits for Your Enterprise Client
4. Quality Process Execution: Humans… make mistakes. Robots perform the same task, the same way, every time – error free.
5. Attractive Pricing: Lower operating costs lets you offer competitive pricing.
6. Greater Productivity: Because you can execute more processes in less time, your customer also benefits from increased productivity.
7. Increased Employee Performance: By automating/offloading mundane, repetitive, administrative tasks, your FTEs can focus on the customer and the task at hand.
Sink or swim?
While RPA is still a relatively new technology, it is quickly changing the outsourcing landscape. As RPA becomes increasingly accepted as a better way to do work, BPOs will find that it is no longer a competitive advantage, but a necessity.
To find out more about Robotic Process Automation and how it can benefit your company, please visit the Kryon Systems website.