Buying RPA - From Hype to Reality
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Symphony Ventures conducted a market survey to determine how much hype surrounds Robotic Process Automation. Do companies understand what it is? Do they know how to buy these software bots? Do they depend on the marketing coming from the software vendors themselves or are there resources to help them vet the market? Ian Barkin, Co-Founder and Head of Strategy at Symphony Ventures, presented our survey findings at the IRPA OAISS seminar in Chicago. Learn more about 'Future of Work' technologies and how Robotic Process Automation is driving innovation at enterprise companies at www.symphonyhq.com Symphony Ventures is an industry leading professional services firm passionate about creating value for the world’s leading organizations by designing, delivering and managing truly modern business processes. As thought leaders we are redefining the approaches and shaping the technologies that will allow you to unlock the value of your organization.
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Buying RPA - From Hype to Reality
- 1. Orchestrating the world’s work1 Buying RPA – From Hype to Reality Market Survey
- 2. Orchestrating the world’s work2 Who is Symphony? Pioneers in Automation and Inspired Thought Leaders A team with a BPO / Consulting Legacy 45+ Professionals – all delivery staff trained in multiple RPA tools ‘Cool Vendor’ in the Business Process Services category Recognition ‘Leading Service Delivery Automation (SDA) Providers #2 Leading Robotic Process Automation (RPA) Service Provider Experienced Service Delivery Practitioners Symphony is the recognized leader in RPA-specific services. We are independent, and focused on enterprise transformation via modern tools & techniques. Global Team (US, UK, PL) Positions & Publications National Outsourcing Association RPA Board Member Published in Professional Outsourcing Magazine Co-author of ‘The Rise of Legal Services Outsourcing’ © 2015 Symphony Ventures – Confidential & Proprietary Innovation Lab and Key Vendor Partnerships
- 3. Orchestrating the world’s work3 Automation Spectrum AIUnassistedAssistedManual Judgment based Customer focused Problem solving Unstructured Value adding Repetitive Semi structured Customer facing Manually triggered Repetitive Rules driven Structured Schedule/event driven Pattern matching Unstructured Repetitive
- 4. Orchestrating the world’s work4 Symphony Ventures are practitioners in Robotic Process Automation. It is in our interest that information about RPA is presented in a clear and informative manner. Partly due to the sector’s newness, but also due to the excesses of marketing hyperbole combined with a smattering of ignorance, much of what is written and published on RPA only serves to confuse and complicate matters. We firmly believe, if this technology is going to realize its full potential, it must be presented to everyone clearly and pragmatically. We wanted to find out if you agreed with us… Our Motivation
- 5. Orchestrating the world’s work5 The Respondents 100% of responses 17 disciplines 6 industry sectors 18 countries Our respondents were a diverse group, from many different disciplines across the globe. Most had a pretty good idea what RPA is, and others had some decent experience to base their opinions on. We have not explored or implemented RPA We have started exploring RPA but not implemented anythingyet We have implemented RPA in a number of areas already We have implemented RPA in a number of areas already I've never come across RPA before I have read or heard some stuff about RPA I am / have been involved in an RPA project I am / have led an RPA project Superficial: I have read quite a bit about RPA Reasonable: I have a good idea about RPA, gleaned from some direct experience Full: I would consider myself very well informed about RPA Which of these best describes your company's experience of RPA? Which of these statements best describes how well you understand RPA? Which of these best describes your own experience of RPA?
- 6. Orchestrating the world’s work6 Firstly, we looked at why people are interested in, or are implementing, RPA… 0% 20% 40% 60% 80% 100% Cost Savings Compliance Error Reduction Customer Service Improvement Ability to Scale Reduce Dependency on BPO Ability to Focus on Core Business Percentage of respondents answering ‘Extremely Important’ or ‘Very Important’ 0% 20% 40% 60% 80% 100% Alternative to BPO Enhancement to BPO Nothing to do with BPO
- 7. Orchestrating the world’s work7 0% 20% 40% 60% 80% 100% Very immature: it's very early days with no credible vendors Immature: it's early days but there are a few credible vendors Arrived: the technology and services are available, if you know where to look Mature: the technology and services are readily available, with plenty of competition Next we wanted to know people’s views on RPA’s place in business… 0% 20% 40% 60% 80% 100% This year Next Year Within 5 Years Way Off in the Future
- 8. Orchestrating the world’s work8 We then wanted to understand how RPA was being marketed right now and through this year… 0% 20% 40% 60% 80% 100% It's all hype Lot's of hype, but some exceptions Pretty reliable, but some hype Reliable and trustworthy Not seen much at all 0% 20% 40% 60% 80% 100% Even more hype Same, mainly just hype More credible, good case studies Much more credible, dependable advice
- 9. Orchestrating the world’s work9 Finally, we wanted to get people’s views on what they saw as important for RPA in 2016… 0% 20% 40% 60% 80% 100% Much less hype Advice on how to assess RPA Advice on how to select RPA Advice on how to contract for RPA Advice on how to Implement RPA Advice on how to integrate RPA Advice on how to manage RPA 0% 20% 40% 60% 80% 100% Enterpise-level security AI capability Automation standards More RPA software vendors Established vendors moving into RPA Credible service providers to implement RPA Outsouricng providers supporting RPA
- 10. Orchestrating the world’s work10 What that all means… • RPA is understood by most people to provide a wide range of important benefits to businesses • This is despite the excessive hype that has dominated the market over the last few years • This year, and the next, will be the time at which RPA matures to become ‘business as usual’ for many leading organisations • The timing of this will depend on how pragmatic and independent the messaging and advice is from the RPA (and Cognitive) vendors and service providers • The demand is there from users, it is up to the RPA (and Cognitive) providers to meet the challenge
- 11. Orchestrating the world’s work11 How we are meeting the challenge… • We believe the only way for RPA to prove its worth and provide the benefits that it is so capable of delivering is for providers to move from focusing on hype to focusing on reality • We will only ever provide uncomplicated and informative advice and tools to our clients and the market, based on our deep experience of implementing RPA in large organisations around the world • We will continue to remain independent of all software vendors so that we can provide the appropriate and valuable advice and solutions to our clients • We will continue to explore new technologies and services that represent the future of work, but only where they will be able to deliver tangible and meaningful benefits to our clients
- 12. Orchestrating the world’s work12 Ian Barkin ian.barkin@symphonyhq.com @ibarkin www.symphonyhq.com enquiries@symphonyhq.com @SymphonyVenture 18 King William St London EC4N 7BP UK 100 Pine Street San Francisco CA 94111 USA Rynek Główny 631-042 Kraków Poland 745 Atlantic Ave Boston MA 02111 USA
Hinweis der Redaktion
- We asked respondents to rate the key benefits of RPA in order of importance for their organisation: Unsurprisingly, Cost Reduction came out on top: 94% of respondents rated it as Extremely or Very Important to their organisations This was followed very closely by Error Reduction (89%) All of the RPA benefits, apart from BPO Dependency Reduction, were rated as Extremely or Very Important by over 70% of respondents, demonstrating RPA’s broad capabilities and advantages Most respondents (65%) saw RPA as an Enhancement rather than a Replacement to Business Process Outsourcing. As RPA matures we expect this number to flip, as corporates look to automate first then outsource.
- We asked respondents how mature they thought the RPA market is: The majority (58%) thought that RPA was Mature / had Arrived However 42% thought that it was still Immature or Very Immature This is clearly the ‘end of the beginning’ for RPA We then wanted to know when people thought RPA would reach its ‘tipping point’ i.e. when will the technology be seen as ‘business as usual’? Whilst some (23%) thought it would be 2016, the biggest percentage (40%) thought it would be 2017. The remainder (37%) hedged their bets and said that it would be within 5 years. No-one thought it would take longer than that.
- We asked respondents what their experience of RPA marketing has been so far: Most (48%) thought the marketing was ’pretty reliable’ but a significant amount (42%) thought there was still ‘lots of hype’ Depressingly, only 2% thought the general RPA marketing they had seen was ‘reliable and trustworthy’ And then we asked what they expected to see with 2016’s RPA marketing: Encouragingly, 60% thought it would be ‘a little bit more credible’ and 31% thought it would be ‘much more credible’ Only 9% thought it would still be mainly hype
- We asked respondents what they’d like to see in 2016: Most people (over 60% of all respondents) want practical advice on how to implement RPA, how to integrate it with their existing systems and how to adapt their organisations to manage RPA They are also keen to know how to select and assess RPA software and vendors And then we asked what they thought would be important success factors for RPA in 2016: Interestingly, Automation Standards was the most popular answer (63%) The need for credible and independent service providers was also high on the list (58%) Combining RPA with AI capability (56%), and ensuring security was maintained (52%) was also deemed important