In this video, we are going to give some thoughts on how you can find the true business impacts of the automations you have invested in by introducing a concept called Automation Yield.
A key to successful intelligent automation programs is to have the right focus. At the beginning of RPA, and really still today, organizations tended to be very task-focused. If these individual tasks can be eliminated, automated, and streamlined, we can save time and money. However, there are plenty of issues with only looking for task solutions.
That is not to say task solutions should not be employed. They are key to an end-to-end intelligent automation solution. However, the individual “automatable” tasks often don’t result in end-to-end change because something else down the line is not automated, or improved at the same time.
Tasks tend to only be measurable in “labor hours”. This can be problematic as the reduction or elimination of those labor hours may not have the qualitative impact you were hoping for. For example, if you have something like a price change that requires manual approval, you can automate the entry of the change and save many “labor hours”,
but since the approval process is still manual, you have a bottleneck. Your throughput hasn’t increased.
A task focus also tends to respond to squeaky wheels and those wheels may be in various parts of your organization. So going back to the previous example, the approval portion may not get automated for a year as other “easier” projects get implemented.
It is a very “birdshot” approach where you scatter your bullets and bet that one hit.
Thus any true KPI impact is hard to discern and you get a series of “quick wins”.
By contrast, by looking at your process, you can identify your KPIs and target a series of tasks that produce a fluid transaction flow all the way through. It allows for a very targeted, sniper approach to your opportunities.
Your task focus can come here, once you know the impact you can have on a specific area with a series of iterative opportunities.
You can have a series of quick wins that actually drive enterprise impact, greatly decreasing your time to value.
So what sort of value or “yield” should your process automation bring? It is much more than hours saved and it is not all “soft” savings with no actual dollars. We have identified some broad categories: quality, audit and compliance, scalability, customer experience, and empowering impact. This may sound like “soft” savings still but these categories can be a helpful guide to “keep looking” for automation yield. Don’t be satisfied with finding a single metric to track your automation’s success.
Here are some examples corresponding to each of the categories shown on the previous slide. You can see some real dollars here from downstream labor costs, to reduction in audit cost, increase in repeat customers, reduced training costs. Again, the categories are helpful to start the conversation, to begin uncovering where your real yield is, to have a framework to understand the impacts of your transformation. Or it could even be a way to expand your project to say, “this is the impact it should be having, why isn’t it?” and use that to uncover additional opportunities.
These metrics start to dive into the realm of process and even organizational metrics, quantifiable KPIs that your organizations are judged by. The success of a digital transformation program will be determined by these top-line impacts.
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