RPA reduces repetitive tasks by using robots to complete processes and can help reduce costs. Good examples of processes where RPA adds value includes Order To Cash and Procure To Pay. But faced with budget restrictions and limited investment during Covid-19, it’s more important than ever to maximise your ROI when undertaking RPA projects. This will involve carefully assessing the relevance of each RPA business case.
Choosing a value management approach
Some organisations are still attempting to robotise processes that will not provide the best ROI from their RPA investment. To assess if RPA is relevant to your business, it’s essential to take a fact-based value based management approach. This way, you can adopt specific business process management (BPM) where real business value will be gained and maximise your investment.
Performer is the latest automated cloud-based tool from SOA People that will help assess what value RPA will bring to your business projects. With analysis of your existing processes and industry benchmarking, you will quickly be able to prioritise your investment choices according to fact-based business value.
Here we demonstrate in 4 simple steps how a value management approach using Performer could help you quickly assess the relevance of your RPA projects and deliver real value.
4 simple steps to define the business case for an RPA project
Identify the strengths and weaknesses of your target processes and uncover opportunities for optimisation and robotisation. Benchmark against your industry or geographical sectors to assess RPA potential and the positioning of your business in relation to the competition.
Valuation and action plan
Calculate the overall potential gains and for each process to be robotised and make any adjustments. Prioritise your investment choices and create an action plan.
Build your business case with a five-year cash flow statement, ROI potential and NPV and payback calculations on your chosen RPA projects.
Monitor the value produced monthly from your RPA project for each of the robotised processes. Ensure continual improvement process cycle is in place and deliver the value of your investment.