Cost to Benefit is of utmost importance in any RPA program for any organization to figure out benefits gained.
The 3 main levers that need to be considered are:
1. Increase in the Cash flow - Once an investment is done, the organizations will focus more on the immediate ROI. Factors that should be considered are:
1a. Reduce spending - Focus on reduction in spending, eg. Leverage existing team members to perform additional roles, RPA License utilization
1b. Create Additional Revenue streams - Build a strong process pipeline basis current bottlenecks in manual processing and how RPA can value-add
1c. Encourage Your Customers - Pass on some discount benefits, eg. provide free support, maintenance, monitoring for x months post stabilization phase
1d. Offer some prepayment awards - Pass on some License reselling margins to the customer
2. Cost to Benefit Ratio - Sometimes termed as 'Cost Takeout', perform
2a. Cost-Benefit Analysis - To derive the Cost/Benefit ratio
2b. Control Finances - Involve Finance team in proposal creation
2c. Job Evaluation - Evaluate your team
3. Revenue Growth - Target more customers, train the Sales team, manage growth on a QoQ basis.
Let me know your thoughts.
Hi @Amar Yelane, Thanks for the article and for giving insights on the cost-benefit analysis of the RPA program, can you help us understand how can we do the Estimation of robots needed & what would be the Refinement of Benefits in such a scenario?