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Top Three Stages of Finance Robotic Automation Failure

Robotic Automation is no doubt one of the hottest topics nowadays. Gartner claimed that RPA will be implemented in most finance departments.

Even though this approach offers many advantages, it also comes with challenges. Johanna Robinson, VP and Head of finance for Gartner, said that leaders can see the benefits upon implementing it.

However, she also said that leaders must have a new mindset when dealing with this approach. This is because the lack of preparation and responsiveness during the phase of implementation is what made most companies failed.

Here are the three stages of finance robotic automation failure

Failed To Have End-To-End Plan In The Planning Stage

Deploying RPA in a company needs the right planning. Most firms failed because they did not realize that it needs a careful plan for an end-to-end progression.

Focusing only on one activity is one of the worst things you can do. Moreover, a plan that only involves a single procedure will burden and prolonged the implementation process.

To solve this issue, Robinson said that finance departments must start slow. They need to start a plan for using a single bot first. With this, they can build a solid foundation and deploy more bots later on.

Treating RPA As An Ordinary Tool In Building Stage

The common mistake most companies do during the building stage is that they treat RPA tool like any other tool. Thus, it held the maximum potential of this approach.

Remember this, implementing other technology tools usually relied on the “chances” approach. This means that most of the tools were went trial and error before it was fully implemented.

Robinson said that leader must not bring RPA in the trial and error process. In the end, they will just burn more resources and wasted more time.

Relying Too Much on In Testing Stage

There is nothing wrong with relying on your IT teams. However, if you’re depending on them too much in identifying the problems and looking for solutions for RPA can cause failure.

You and your RPA team should be the one in control. Moreover, the team must lead the direction of this approach.

Also, experts recommend that the RPA team must have a clear view of what responsibilities they shouldered. With that in mind, they can involve and deal IT teams in a more effective way.

Top Three Stages of Finance Robotic Automation Failure
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