RPA: Key Takeaways and Learning from our experience in implementing first pilot of RPA in IB Finance business:

I would like to start with opening statement acknowledging that  we are still in the early days of robotic process automation, where many of us are sold on the concept, but are waiting to see positive results in real execution and benefits.

The good news is that we have taken the leap in this sphere to see the first example for forward looking organization and maybe we would be ready to share war stories!!!

The project, troubles and all, is a valuable story for others to hear as they ponder their own steps into the brave new world of RPA.

Few takeaways from experiences of this rapid RPA engagement:

 

  1. RPA automation through any tool will not meet all of our business requirements, so we need to focus on selecting smartly process to automate, it need not be complex process at first instance and it should not be target to automate all parts of process. May be target of 60-70% should be considered as big success.
  2. Different RPA tools have varying capabilities and no RPA tool will meet all of business requirements so we need to configure and utilize its functionalities smartly. Remember it is still evolving so they will catch up with any functionality or feature they are currently lacking. May be organizations in excitement are getting too emotional and trying to capture and make first time right too early
  3. The selection of projects on initial projects at-least should focus on areas where we can gain faster rather than focusing on areas of pain. One of the main objectives of automation is efficiency gains or to generate business savings. These business savings can then be invested in automating more complex process in later phases.. not in phase 1.. it is too soon
  4. RPA projects should be driven by the organization, not as an isolated business division led project. Engaging broad audience while sharing common vision and goals is critical. It can help remove many delays and blockers
  5. There should be a system to learn the lessons from failures and success of other departments/units and organizations. We spend a lot of time learning hard way. Is it necessary to inflict all tough lessons on yourself
  6. The automation time cycle for any project should not be large and in no way longer than 3 months. We should identify a process in a way that 80% of the real process can be automated in a time frame of 4 to 6 weeks. These should be moved to production immediately with little efforts, consider having a proof of concept which can be converted to “production ready” state
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About Retvic Bisaria
Hi, I am Retvic Bisaria, a finance professional working for an US based IT offshoring and Outsourcing company. Besides a finance professional, I am a photography enthusiast and love visiting places.

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