Key factors for Intelligent Automation success
Organizations that are clearly benefiting from Intelligent Automation have six distinguishing characteristics:
1. Enterprise wide strategy - Companies that have an enterprise wide strategy reduce costs on average by 24% and increase revenue by 8%, whereas organizations without an enterprise wide strategy reduce costs by 14% and increase revenue by 3% on average.
2.Technology, infrastructure and cyber security - Organizations with a supportive IT function, with the required technology, infrastructure and cyber security in place report on average a 21% reduction in costs compared to 13% among organizations that lack these functions.
3. Mature process definitions, standards and processes - These lead to higher gains in back office workforce capacity. Organizations with mature process definitions, standards and processes in place achieve an average increase in back office workforce capacity of 19% compared to 12% among organizations which do not.
4. Combining Robotic Process Automation (RPA) with AI - This approach appears to be the most powerful factor helping organizations increase revenue. Organizations combining the two report an increase in revenue by nine per cent on average, while those that do not increase revenues by only 3% on average. Almost half (45%) of organizations scaling automation combine RPA and AI, while only 20% of organizations piloting and 36% of those implementing are doing the same.
5. Clear understanding of how to capture value - A clear understanding of how to capture value from Intelligent Automation leads to much higher reductions in costs. Executives with a
clear understanding report their organizations reduce costs by 21% on average, while those lacking a clear understanding reduce costs by 15%. However, executives who say they have a clear understanding of how to capture value do not report significantly higher gains in revenue (6% compared to 4%). It is possible that they are not being ambitious enough in their targets to reap the full benefits.
6. Radical simplification driven by a need for cost reduction - scaling organizations are more likely to agree that the main purpose of their strategy is radical simplification, driven by a need for cost reduction. Some 73% do so, while only 61% of piloting organizations take the same stance.