Robotic Process Automation (RPA) Analytics with Eagle Insight
Businesses are transforming, there’s no stopping that.
Driving this transformation are robotics and automation by helping make manual
operations more skill-centric, value-based, and efficient. The COVID-19
pandemic has only fast-tracked the adoption of these inevitable technologies.
Robotic Process Automation (RPA) aims to take over the dreary, mundane tasks that consume a significant
part of an average employee’s workday. By shipping off these tasks to the RPA
platforms, employers enable employees to focus on value creation and increase
productivity.
In RPA, efficiency is not compromised, tiredness is not a
factor, and accuracy is unwavering. But as the technology is still taking baby
steps, there is room for improvement. This is where data and analytics come in.
More than ever before, the
ability to collect, organize, manage, and analyse data has become paramount.
But with the rapid rise of automation, most companies are behind the eight ball
in learning from automation-related data. According to a Harvard Business
Review report, more than 70% of employees are inundated with data that is not
relevant to them, and four in five data analysts waste time trying to discover
and assimilate relevant data.
How Can Post Robotic Process Automation Analytics Supercharge Your
Organisation’s Strategy and Planning?
A sturdy RPA analytics engine
allows your business to achieve transformative outcomes by actively quantifying
your automation benefits and demonstrating the areas of weakness. When
automation is supported by intelligent analytics, the organisation can maximise
the benefits of the new technology and optimise the entire automated process.
Post automation analytics can
unlock efficiency and enable quicker and smarter decision making, helping
uncover new insights around your organisation’s automation ecosystem and how to
enable it to solve more meaningful problems.
It allows for accurate
forecasting, extending beyond the usual fiscal and performance revisionary
methods. For forecasts to be useful, they must consider different variances and
their impact. It must analyse how the variance impacts the overall target,
different KPIs, timeline, costs, and process. This information provides the decision-makers
with actionable insights.
Forecast vs actuals allows
companies to also understand how predictions fare at different forecast points
and help zero in on the optimal timeline for future forecasts.
What are the Business Benefits of
Post Automation Analytics?
Even as far as five years ago,
the benefits of adopting automation included up to 200% return on investment,
according to McKinsey. Effective Robotic Process Automation analysis can help sustain and/or
improve the end-to-end automation process in your organization and increase the
ROI.
Tracking down, analysing, and
expounding RPA data can help you understand whether the investment in RPA is
paying off. Thanks to automation, various silos of data can be merged or
converted into actionable insights that help optimize ROI and Net Present Value
(NPV).
Advanced analytics can open your
eyes to huge cost-saving measures and enhanced business intelligence. For
example, you can predict buying and spending patterns based on historical data
to better strategise and improve cash inflow. The forecasts can also enable
greater process optimisation by removing manual efforts.
How to Optimise Your RPA
Analytics?
A recent Gartner report stated
that by the end of 2022, RPA will be prevalent in some form in at least 85% of
the big firms. That’s a significant achievement for RPA, but it still needs to
be deployed and used effectively.
Every metric to measure its
success should tell a story about what your company wants to achieve. If it
does not, then the metric needs a rethink.
Aspects like robot productivity,
velocity or time taken for automated processes to execute, utilisation, process
throughput, and real-time health help define optimal efficiency and success.
Companies can clearly gauge process exceptions, process volume, queue,
utilisation, expected business value, and ROI.
Measuring Bot performances for
efficiency and utilisation helps determine the efficacy of the RPA implementations
and react accordingly. Once RPA implementations are in place, the bots become
the primary workforce for those processes — except that the bots are not
impacted by fatigue, feedback, pressure, or emotions. They can complete tasks
much quicker and significantly lessen a process’ handling time. With the
ability to work non-stop, bots can maximise business outcomes and transform a
process in no time. It is, however, imperative that the performance of the bots
be regularly measured against relevant metrics to ensure a company is making
the most of RPA.
Give Your RPA Journey the Eagle
Insight Boost
Scaling RPA deployments is a huge
challenge, no doubt. A lack of understanding and experience in the field can
negatively impact your implementations and lead to loss of revenue, efforts,
and morale. Eagle INSIGHT is
a turnkey embedded Automation Analytics platform from CLOUDGATE – a fast-growing
specialist in RPA solution development, deployment, and consulting – that can
fast track your automation goals and help significantly improve business
outcomes. Explore Eagle INSIGHT yourself by signing up
the community edition through the product website www.eagleinsight.io