Robotic process automation in financial services

The essential journey to scale

What is robotics and cognitive automation (R&CA)? R&CA refers to a broad continuum of technological capabilities, ranging from robotics that mimics human action to cognitive automation and artificial intelligence that mimic human intelligence and judgment.

According to the 2017 Deloitte state of cognitive survey, 76 percent of companies across a wide range of industries believe cognitive technologies will “substantially transform” their companies within three years. However, the survey also shows that scale is essential to capturing benefits from R&CA. Specifically, 49 percent of respondents with 11 or more R&CA deployments reported “substantial benefit” from their programs, compared to only 21 percent of respondents with two or fewer deployments.

Without sufficient scale, it is difficult for the benefits from R&CA to justify the effort and investment. Learn more about the common pitfalls and how to build a successful foundation for scaling.

Building a foundation for successful scaling

A holistic view of automation capabilities can help organize and galvanize a team to avoid the common robotics and cognitive automation pitfalls and ultimately achieve scale. Start by articulating the robotics and cognitive automation mission based on key value drivers and establish a clear and compelling business case. Create a broad vision and roadmap. Establish robust, right-sized governance, select an appropriate operating model, and collaborate across boundaries. You also want to gain access to the necessary specialized skills and talent. And what about technology? Establish the architecture elements necessary to support scale. Select the right processes. Collect and analyze data with purpose.

Although R&CA hinges on technology, the primary focus should be on business outcomes. Technology is simply an enabler. The most successful organizations are laser-focused on what they are trying to achieve with R&CA, and they have success measures that are explicit and transparent. This clarity makes it easier to align people, resources, and initiatives across the enterprise to achieve the expected benefits.