Robotic Process Automation Training
According to Minister for Education Ong Ye Kung, Singapore’s economic growth cannot be achieved through manpower-led growth, but should be based on productivity and innovation. The question on every business leader’s mind is how.
Well, the answer might just lie in an emerging technology called Robotic Process Automation (or RPA). RPA involves the use of software robots that mimic tasks usually performed by humans. These robots help to manage and automate a wide range of repetitive, rules-based tasks that requires handling high volumes of structured data, freeing up employees to pursue more meaningful, differentiated work. According to HfS Research, a market research company, more companies are looking to invest in RPA in 2018 than all other technologies including Internet of Things and Blockchain.
In fact, this RPA wave has already arrived on our Singaporean shores. In late 2017, UOB announced that they have deployed two robots which cut data processing time by over half. Not to be outdone, OCBC has launched their own version which reportedly reduced their housing loan re-pricing processing time by 97 per cent!
Many leading companies now recognized the importance of adapting to this new Digital Age, or what is known as the Fourth Industrial Revolution. This often entails the transformation into a truly digital-first organization, where longstanding analogue practices are superseded by digital ones, supported through the adoption of digital technologies like RPA.
The time to implement RPA now.
However, achieving the Holy Grail in RPA, i.e. a triple win for the company's shareholders, customers and employees, can be a daunting challenge. There are no official statistics available, but it has been cited in media that as much as 30-50% of all RPA implementations fail. Many a times, the challenge is not technical. Rather, it is more about seamlessly weaving RPA into an organization's work processes, change management and culture, e.g. a digital-first mindset, and governance.
Your RPA journey starts now. As Lao Tzu said, "the journey of a thousand miles begins with a single step." To help you kick start your organization's own digitalization journey, sign up for our introductory workshop on RPA. Course details can be found below.