How to measure ROI on RPA projects?

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Get to know in details about measuring ROI on RPA projects.

Robotic Process Automation (RPA) should be your ultimate go-to technology in 2021, if you want to reduce your workload and increase your revenue. You can achieve high-end efficiencies when you operate your business on a daily basis. We have numerous platforms and paths scattered when we want to achieve the most out of automation. The benefit of RPA is abundant for your business. But should they necessarily be worthy of your business investment? If yes, how do you calculate RPA’s Return on Investment (ROI)?

SAP iRPA

What are the tasks RPA is best at?

RPA can help you manage a variety of repetitive tasks which might be time-consuming when your team members perform it owing to its data management hurdles. All these tasks are extremely vital when you perform your everyday business operation. Making mistakes can become a costly affair.

RPA is best at handling rule-based and labor-intensive tasks with structured and readable data. There might be a few exceptions such as not requiring too much of human-decision making process. On the other hand, it also involves tackling time-intensive tasks. You also implement Optical Character Recognition (OCR) to utilise that data. With AI tools, you can bring in efficient RPA processes to unstructured data.

 

When you use a CRM system to send monthly call to action for your client base, you have to reformat the data often in the CRM application. The process can be simplified with RPA even if you have a single CRM system connected to your client’s CRM and reformat the data.

 

When you use RPA to manage different tasks, you can utilise it to handle other important tasks.

How do you calculate ROI for your RPA Projects?

When you implement RPA in your business, there are plenty of financial benefits, true. But you have plenty of indirect benefits such as improvement in customer relationship and boosting employee values. That’s going to be a long-term investment, isn’t it?

Talking about Return on investment, RPA software is usually tailored to cater each business requirements. RPA technology, in general, isn’t as expensive as Software as a Service (SaaS) programs. You can integrate it into existing architectures.

While businesses consist of top-notch IT workforce, you shouldn’t disagree to the fact that you need to contact experts in RPA implementation and software design, if you need to bring out the best process. This can save a lot of cost. The next cost of investment is the maintenance cost. You might have to involve machine and software cost in this loop. When you develop RPA, the maintenance cost would remain low if you implement the best SAP iRPA implementation company.

Why should you invest in RPA?

Let’s say your employee needs 3 hours in a workday to complete a task. In a 5-day per week work culture, it would take 60 hours in a month to complete the task. That would be more than 700 hours in a year.

When a bot performs a task, you can quickly learn and mimic the other tasks. When you are handling a spreadsheet, it might take many hours for you to completely review the incorrect value.

You get access to better time management traits among your team members. You can improve productivity, build your team strength and improve your team strength.

FAQs

RPA is going to be labour-intensive, time-consuming, rules-based with clearly defined tasks. You get to provide structured, readable data on the hands of your team members. These tasks are usually clerical and data-entry oriented tasks.

You can develop RPA through in-house programmers. But it would be less expensive when you bring in an outside team for implementation and development.

The process can get quite complicated. When you look at the hourly cost of your RPA tasks, you can compare it with non-RPA cost involved.

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