12 Mar, 2020 | Blogs
Despite becoming one of the most leading-edge technological solutions today, RPA or robotic process automation has been plagued with myths and fallacies that hinder its deployment in organizations. RPA is best used for repetitive, high-volume work to increase your staff’s productivity and efficiency. In this blog, we’ll look at the top five myths about RPA that are still doing the rounds today.
RPA myth #1. Robots will take away my job
The most common myth about RPA is that it will take away human jobs. This myth has been one of the biggest challenges of RPA adoption in organizations (read all the challenges here). Add to it, the perpetual barrage of negative news doesn’t help RPA’s cause. People need to understand that RPA is not meant to replace the workforce, but to work with them for a better outcome. While it is true that RPA will change the way we imagine work, it cannot replace human workforce on every level. On the contrary, RPA will create new opportunities and technical roles. RPA is here to stay, and one needs to keep an open mind towards change for organizational success.
RPA Myth #2. RPA bots are 100% accurate
Almost like all things in life, perfection is simply a perception. It can also not be achieved by machines and bots. While bots can significantly eliminate human errors, and often, even be 100% right, it may not always be the case. That’s because bots are only as good as the information that is fed into the system. It executes the formulas provided. If there is an error in the code logic, the bot will replicate the error until stopped. That is why it is best to partner with an RPA service provider to ensure error-free processes and successful adoption.
RPA Myth #3. End of Business Process Outsourcing
Another RPA myth is that RPA will bring an end to business process outsourcing (BPO). Contrary to popular belief, many BPOs are using this change-enabling technology to their advantage to enhance client experience and offer timelier as well as cost-effective services. RPA deployment is becoming more and more attractive to BPOs to lower costs, increase accuracy and efficiency, enhance compliance and analytics as well as to maintain higher client satisfaction and retention. Rather than marking the end of BPO, RPA is innovating and transforming the nature of BPO providers.
RPA Myth #4. It won’t work in my industry
Early adopters of RPA were the banking and finance industry, and that has somewhat labeled this technology as best suited for companies in this industry only. However, this is a common RPA myth since there are several use cases of RPA in just as any industries including retail, healthcare, aviation, real estate, etc. RPA has a proven track record when it comes to cost-saving in these industries and, hence, the need to drop the perception that RPA will not work in any other industry. There is scope for automation of mundane back and front office tasks in nearly all industries and functions like Human Resources, Marketing and Finance, making RPA suitable for standardizing tasks in an organization, regardless of the industry.
RPA Myth #5. Not worth the investment
Investing in RPA is a cost to the company if it fails to realize the technology’s full potential. When deployed correctly, RPA can improve efficiency, productivity and lower operational costs, making the return on investment exceed the implementation costs. One of the Big 4 consulting companies PwC claims that RPA provides a far more superior customer experience and significant error and cost reduction as well as efficiency benefits in a short period. PwC claims that RPA’s benefits can quickly deliver ROI between 300-800%.”
Busting Myths
These were our top 5 RPA myths surrounding companies that are looking for ways to streamline their operational processes and improve productivity. Businesses must understand the fundamentals of RPA before they start its deployment. To remain competitive, businesses need to have a common understanding of this technology and enough exposure to reap the maximum benefits of RPA deployment.
If you’d like to know more about RPA, then contact us and we’ll help you with the best possible solution. Nuummite Consulting is a leading RPA consultant in the MENA region, assisting companies in diverse industries, including retail, healthcare, aviation, IT and BFSI.