In an era where digital transformation is paramount, Robotic Process Automation (RPA) stands out as a key enabler for efficiency and innovation in the finance sector.
In a series of articles about hyperautomation in finance, we explore the transformative role of RPA from three different angles, from specific customer case studies to the foundational strategies that ensure successful implementation. We discuss the efficiency gains and strategic advantages observed in real-world applications, delve into best practices for deployment, and in the last article in the series, we explore the importance of governance and change management in maximising the value of RPA investments.
After examining the impactful outcomes of RPA in customer case studies, we shift focus to the foundational elements necessary for such success. So, the next section dives into the best practices critical for RPA deployments, explaining the approach needed for technical and business achievements. This provides all the elements to design a roadmap for organisations aiming to leverage RPA effectively.
The implementation of AI- powered Robotic Process Automation (RPA) represents a significant step towards digital transformation. AI-powered RPA enables organisations to automate more complex, judgment-based processes, enhance efficiency, reduce errors, and free up valuable human resources for more strategic tasks. Drawing from the experiences detailed in the business cases, the following best practices are crucial for a successful deployment:
1. strategic alignment and governance
Before embarking on an RPA journey, ensure there is a clear alignment with the organisation’s strategic objectives. Governance structures must be established to oversee the implementation, ensuring that RPA initiatives are in sync with business goals and technology strategies. This includes setting up a Center of Excellence (CoE) to lead, guide, and support RPA initiatives across the organisation.
2. process selection and prioritisation
Identify and prioritise processes for automation based on factors such as volume, repeatability, error rate, and strategic value. Early wins with high-impact processes can build momentum and support for the RPA program.
3. architecture and technical environment
Ensure your RPA platform and business applications are up to date and that test, pre-production and production environments are aligned. Leveraging a centralised orchestration platform for robot management and deploying automation in a scalable, secure manner is essential.
4. validation and development
Collaborate closely with business owners to validate the accuracy of the processes to be automated. This collaborative approach ensures that the automation meets the actual needs and can adapt to process variations. Utilise a standardised automation framework as a template to structure the development of automation in a robust, scalable, and efficient way.
5. testing and quality assurance
Allocate sufficient time for testing to ensure the automation works as expected under various scenarios. This step is crucial to identify and rectify issues before deployment.
6. training and change management
Managing the human aspect of RPA is critical. Ensure that staff are adequately trained not only on how to use the RPA software but also on the changes to their roles and processes. Effective communication and support are key to facilitating a smooth transition and adoption.
7. continuous improvement and monitoring
Post-deployment, continuously monitor and analyse the performance of RPA solutions. Be prepared to iterate and improve upon the automations as business processes evolve and new opportunities for enhancement are identified.
8. security and compliance
Given the sensitive nature of processes often involved in RPA, ensure that automations comply with all relevant laws and regulations. Implement robust data protection measures and regularly review access controls to safeguard against unauthorised use.
By adhering to these best practices, organisations can not only achieve the technical success of RPA projects but also ensure they deliver tangible business value, aligning with the governance and change management strategies essential for sustainable growth in an ever-evolving digital landscape.
The authors of this insight are Cyril André – Senior Consultant, Yuval Keren – Head of Digital Solutions & Sébastien Corrao – Account Manager at Itecor.
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