It is a business and people project.
The objective of a workflow automation initiative should be expressed in terms of business outcomes. These outcomes will be achieved through people and technology.
Automation and AI allow a business to make tangible progress on implementing strategy.
Therefore there needs to be a clear plan to connect the strategic intent of business with the Automation and AI initiative.
Recent surveys by EY Global and McKinsey (UK) show that nearly 70% of executives think automation projects have been failures.
This is despite the fact that the companies doing the automation implementations think the projects were successful. The executives in their clients disagree.
Nearly 70% of senior executives say automation projects failed to deliver the promised business benefits.
Yet the automation systems implementer thinks that they did a good job.
So what’s going on?
So, you’re aware of Robotic Process Automation(RPA) and the benefits of workflow automation are abundantly clear, but the hard part is figuring out where to begin and how to begin.
Workflow automation is an essential element for accountants to remain competitive.
EY and Oxford University recently published an article on banks transformation projects highlighting significant gaps between promised transformation project outcomes and actual results. EY reported
Workflow Automation and Robotic Process Automation (RPA) offer significant benefits to a business. Some of the common and recurring benefits include: Efficiency gainsImprovements in accuracySignificant
RPA is about business outcomes. Not technology. Business outcomes. Not technology. Does it matter what Workflow Automation and RPA technology you use? To a degree yes it does.
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