The RPA Maturity Curve: An Explainer Video
The robotic process automation market is well on its way to maturity. Its global value is expected to increase at a compound annual rate of more than 33 percent between now and 2023. Many businesses already automate well-defined processes using software bots that complete knowledge-work tasks at one-third the cost of a full-time equivalent worker.
Other enticing advantages of deploying bots to handle clerical business functions include:
- Continuous uptime: Software bots can continue to run automated processes in the background using minimal resources.
- Slim margin of error: Manually executed knowledge work has an average error rate of 5 to 10 percent; a well-configured software bot's margin of error is closer to 0 percent.
- Low operational risk: RPA bots rigidly conform to programmed rule sets so they will always be compliant with operational protocols.
- More meaningful work: Employees who are armed with RPA have more time to focus on judgment-based functions that will add value to the business.
But to realize these benefits, organizations must determine the level of RPA maturity they're equipped to handle. We previously created the RPA Maturity Curve to help businesses do precisely that. Now, we're going one step further.
Introducing our new explainer video: In this six-minute clip, we discuss the entire RPA Maturity Curve, level by level, to provide a clear picture of the IT and business requirements and outcomes associated with each tier of bot deployment.
Consider this part one in a series of informational clips about RPA still to come. Enjoy!