Lloyds Business Barometer out tomorrow is expected to signal a slowdown in economic growth for UK businesses. As economic activity and production continues to decline, businesses are under mounting pressure to become more efficient.
“In this competitive landscape, many businesses are moving towards a strategic focus on automation to speed up processes and increase efficiency gains. Considering the overall impact on the UK economy, organisations need to ensure they understand the general market trends and how their internal processes measure against this operational reality,” according to Ian Pollard, senior vice president EMEA at Signavio
While many companies recognise the importance of incorporating various automation and robotic technologies into their business models, statistics show that only one-third of these projects go according to plan.
Pollard continues: “Businesses are on the lookout for the technologies and approaches that will help deliver a competitive advantage. Over the coming year, we will see an increase in the amount of companies turning to technologies, such as Robotic Process Automation (RPA), to keep up with this pace of change.
“What we’re seeing however, is when incorporating new RPA systems, organisations often overlook the ‘process’ element of RPA – which is the foundational block to successful implementation. To avoid fast and massive investment failures, companies need to ensure they are bringing the right processes to life in an improved and optimised way.
“Automation is not as simple as just adding robots to your workforce. Instead, you have to ensure that both humans and robots are working in perfect harmony – and at scale. Amidst all this, human oversight and engagement remains critical to managing an increasingly digital workforce and responding to the wider UK economy at large.”