When business analysts talk about the total cost of ownership (TCO), they recognize that there’s more to buying a new technology than appears on the price tag. In the case of RPA, the conventional idea of TCO may include factors such as the costs of developing automation workflows and managing RPA projects.
But if we want to understand the full financial picture of buying and implementing RPA, we need to take an even more holistic look. When a company starts automating its work processes through RPA, they’re doing more than just adding a new tool – they’re growing their workforce. Making the most of that growth involves understanding what robots add to the company and how employees can work with them most effectively. TCO reflects only part of the work that needs to be done.
So how much does RPA really cost?That’s where the idea of total cost of automation (TCA) is helpful. TCA includes all of the elements of TCO, but it also factors in the other work that employees do in order to support their company’s use of automation – such as running a Center of Excellence, choosing tasks to automate, analyzing and optimizing processes, and monitoring robots.
To give a more thorough look at the elements of total cost of automation, we and our partners at EY recently published a new whitepaper – Robotic Process Automation: Total Cost of Automation. It explains the idea of TCA, examines the elements that it includes, and explores the ways we at Kryon save our customers money by offering uniquely comprehensive solutions that minimize costs throughout the RPA lifecycle.
The whitepaper is available for free on our website, and we invite you to download it today to gain a comprehensive picture of the expenses associated with RPA.