Despite widespread global adoption of RPA, an EY study reveals that 30% to 50% of initial RPA projects fail. Read how infusing Trust by Design can help organizations overcome this challenge.
Robotic process automation, or RPA, has emerged as a potent productivity-enhancing innovation that has been embraced globally by almost every industry sector. Hardly surprising, given digital labor can work around the clock, 365 days a year, and never needs a day off.
That said, is RPA delivering on its promise of seamlessly automating routine tasks so that humans can focus on ideas, innovation and higher-value work? The jury’s still out. Many companies are experiencing significant productivity gains from embracing RPA. However, an EY study found that 30% to 50% of initial RPA projects fail, unleashing innumerable risks.
Let’s consider a few examples:
- A telecom company deployed bots for managing its complaints-handling process. However, coding errors led to many grievances being diverted to an incorrect queue, resulting in a backlog of complaints.
- A global conglomerate deployed bots in its finance and accounts function to automate the accruals process. Its auditors, however, noticed that the accruals had been materially under-reported for a whole quarter. Incorrect rule-set definitions in the bots had led to the problem.
Information security is also at risk: There have been reports of malicious employees launching cyberattacks on bots to access sensitive company data. While critics blame the underlying technology, this is seldom the case.