Intelligent Automatin News #8
Marty Pavlik
EVP | AI Automation Strategist | Transforming Fortune 500 Enterprises with AI | $100M+ Digital Transformation Leader
As us Bears fans enjoy leading the division, here’s a Sunday edition full of intelligent automation insights. I made it a point to include a few articles on RPA, which I hadn’t been.
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Go Bears.
-?????????Marty
What Is Procurement? The Process and KPIs That Matter
In this blog, Celonis’ Larry Dignan overviews the vital strategic role procurement can play. It is a critical function amid supply chain disruptions, inflation and the need for ongoing cost management.?Here’s a look at the role of the procurement process and ways to continually improve to boost profitability.
What is Procurement?
Procurement exists to acquire the goods and services required by businesses at the best possible terms. Procurement teams are increasingly critical given ongoing inflation and supply chain challenges. The Procurement management process can have multiple stages ranging from business requirements to supplier sourcing to tracking the receipt of goods.
A Trifecta of RPA Resources
As I looked back on the previous seven issue, I realized that I haven’t really touched on RPA as often as I should have. While the initial crush on RPA has slowed as businesses (finally) begin to understand it’s flaws and limitations, it remains an important piece for intelligent automation plans.
While RPA isn’t growing as fast as the last few years, it’s still growing. Forrester Research’s predicts the total market for RPA will hit $25 billion by 2025, with $6.5 billion of that as software and the remainder as services.
As you’ll see in the articles below, while RPA is slowing as companies better understand where it does and doesn’t fit, it will remain an important piece of many intelligent automation puzzles. Even if, as argued in the Enterprise Automation Market Forecast (see below), RPA will increasingly be commoditized.
RPA 1: How Much Does Robotic Process Automation Cost?
This comprehensive overview from Itrex Group goes into detail about explaining RPA and a variety of ways to think about the costs and benefits. The article begins with a staggering statistic, “Office employees spend around 69 days per year on administrative tasks. This costs US businesses $2.87 trillion in lost productivity annually.” Read more here.
RPA 2: Five Things to Lower RPA Total Cost of Ownership
As with any technology, many companies latched onto RPA as a technology savior without understanding exactly what it could do (an all-too-common problem with new technology and breathless press coverage and marketing). This article rightly focuses on the most important decision as the number one way to lower RPA costs: Choose the right processes for automation.
The article goes on, “One of the biggest (and costliest) challenges businesses face in their RPA implementations is choosing the right processes for automation. Imagine the waste of resources and time if RPA is used to automate processes that do not add value to the business.?Nearly 1/3 of unsuccessful automation projects can be attributed to poor process selection.” Discover four more.
RPA 3: RPA – Cost of Automation Ownership
The cost of automation goes beyond the software and implementation costs. This article by Karan Sehgal explains the different costs for automation and how to account for them. See what the costs of RPA are here.
Enterprise Automation Market Analysis: 2022-26
Co-written by Alan Pelz-Sharpe, Matt Mullen, and Dan Lucarini; this Deep Analysis analyst brief goes into detail what is and isn’t part of the market and estimates the market at $10 billion, with a 5-year CAGR of about 14.8%.
One particularly interesting nugget relates to the expertise around the industry rather than the technology itself, “Though the overall market is growing and will continue to grow at a strong clip, the lack of available human expertise means that real-world limitations choke its full potential.” Get your own copy for free here.
The 5 Elements of Intelligent Automation
This is a good, high-level overview article from eWeek if you want to understand the basic elements of intelligent automation. “As industrial automation gives way to intelligent automation, the goal switches from cost savings and process efficiency to business value and innovation. Today, automation is about improving customer experiences, business excellence, service improvements, innovations, and strategic decisions. Bottom line savings are always welcome, but in this new world, the goal of automation is much more about?digital transformation?and top-line growth.”
领英推荐
Intelligent Automation: The Winning Variable in a World of Constant Change
What’s the variable in the change equation that separates the leaders from the laggards? It’s intelligent automation. The technology makes processes and operations more resilient and agile so businesses can react and adapt to change.
The remainder of the article from Kofax EVP Jim Nicol highlights aspects of the intelligent automation company’s latest research. Read more about the winning variable here.
Events
3rd Annual Hyper Automation Conference
October 18
Free Online Event
Key topics include:
·???????Assessing and accelerating AI readiness
·???????Best practices for formulating and scaling a winning hyperautomation strategy
·???????Building a cloud strategy for automation
·???????Hype vs. reality: Demystifying automation
Iowa Lean Consortium 2022 Annual Conference - We're Speaking!
October 24-25, 2022
This hybrid annual event is the largest in Iowa for continuous improvement professionals. Doculabs' Rick Hassman, Practice Lead for MFP/CPG/Retail, is speaking. His session is "Elevating the Power of Industry 4.0 With Process Mining."
After attending this session you will:?
Process Mining & BPM Digital Summit
October 25-27 (Online)
Learn how process tools can identify bottlenecks, improve performance and redesign processes to be customer centric and end-to-end at scale.
Celosphere 2022
November 9-10
Munich, Germany and streaming online across planet Earth
Case studies, updates from Celonis, and news and advice for using process mining to fight inflation and supply chain disruption.
Just For Fun
Image credits
Robot Photo by Possessed Photography on Unsplash