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 this last article in the series, we explore the importance of governance and change management in maximising the value of RPA investments. It highlights how ensuring RPA initiatives are strategically aligned can secure enduring benefits and adaptability in a rapidly evolving business landscape.
In these case studies, we see that hyper-automation’s tools open up a whole new horizon, offering a multitude of possibilities for improving return on investment, ensuring compliance and promoting the evolution of services. Integrating innovative solutions is undoubtedly crucial to driving business development and growth. However, our experience has taught us that adopting new technologies requires a solid organisational framework to ensure stability within the business.
Above all, we must recognise that a technical project aimed at the business world is, above all, a human adventure. It is imperative that effective governance and appropriate change management are pragmatically put in place.
Governance is the foundation on which the decision-making, policies and processes that direct and frame an organisation’s activities are built. Robust governance is essential for aligning technology decisions with the company’s strategic objectives and ensuring the ethical and efficient use of technology. Factually, optimal governance determines the following elements:
- A strategic alignment framework: Criteria for aligning IT investments and initiatives with the company's strategic objectives.
- Key performance indicators (KPIs): System availability, incident resolution times, user satisfaction levels, return on IT investment, etc.
- Risk reduction: Identifying, assessing and mitigating the risks associated with the use of IT, such as security risks, regulatory compliance, business continuity, etc.
- Efficient resource planning and management processes: Optimum use of financial, human and technological resources
- Consolidated management through regular reviews and well-defined decision-making processes.
Change management is the art and science of facilitating the adaptation of individuals and organisations to the changes brought about by the adoption of new technologies. Effective change management involves clearly communicating the benefits of new technologies, training staff to make the best use of them, and cultivating an environment conducive to innovation and adaptation.
Described in tangible terms, this process creates:
- The change management plan.
- The impact analysis.
- A detailed communication and training strategy.
- Identification of potential sources of resistance.
- A monitoring and evaluation template.
So, while purely technical success is essential, it is not enough to guarantee success in terms of business value. A balanced approach, incorporating both solid governance and proactive change management, is essential to maximise the benefits of new technologies and ensure the long-term viability of businesses in a constantly changing world.
The authors of this insight are Cyril André – Senior Consultant, Yuval Keren – Head of Digital Solutions & Sébastien Corrao – Account Manager at Itecor.
More insights
keeping up with the times through innovation and creativity
digital solutionsgovernance & service managementquality assurance & testing
November 01, 2024
ensuring success in AI-powered RPA implementation: architecture and best practices
digital solutions
October 01, 2024
streamlining finance with hyper-automation: case studies
digital solutions
September 16, 2024
