The development of digital technology has led to a series of changes in working processes in businesses. They are gradually replacing manual labor with process automation. One of the most commonly used robots today is Robotic Process Automation. This is a software robot that specializes in handling tasks with fixed logic. How to measure the effectiveness of RPA at work? All will be in the article below.
RPA Metrics You’re Already Tracking
Total Automated Processes
Total Automated Processes is the total of all the processes you have in your production that make up your bot portfolio. This metric will give users an overview of how well RPA is evolving in automated processes. From there, experts will identify opportunities for expansion and development of RPA, find new directions for improvement and optimization of their processes.
Velocity is an RPA measure of time to complete work. This is an important indicator for businesses to evaluate the efficiency and productivity of software robots. After experimenting, the experts will measure the average working time of the robot. That has great significance in helping businesses save time and labor costs. Statistically, the average RPA works twice as fast as the office worker.
The Utilization metric shows how often an automated process is executed. This metric shows whether you are getting the most out of RPA’s resources. Because the outstanding feature of software robots is the ability to work continuously and without limit on time, they can work 24 hours without breaks or needing too much human intervention.
When we take full advantage of this feature of RPA, the robot will be equivalent to 3 workers working continuously with the same productivity. That helps to increase work efficiency and reduce pressure on employees.
Accuracy is a measure of the effectiveness of Robotic Process Automation. This indicator will measure errors when RPA operates. Operators can rely on Accuracy to consider process optimization and perfection, ensuring the best output quality.
During process automation, any errors will be fully visible to the business. This is different from manual labor; we don’t know if we are making a mistake? Through Accuracy, you will assess how much damage is caused by RPA’s fault.
Expected Business Value
Expect Business Value is a very important indicator related to the expenses of the business. This metric is the total of all the other KPIs. It is the sum of all the accruals from the above stats: speed increase, utilization, accuracy improvement,…
We have a way to calculate the expected sales value index. You will multiply all the cost savings from the above metrics by the cost of the FTE over a given period. This way, we will know the profit margin and the degree of automation of the business.
5 RPA Metrics You Should Be Tracking
Break-Fix Cycles is an indicator of the number of times an automation process breaks down and needs maintenance. The occurrence of this problem will directly mirror the ROI RPA.
Because when the bot is not running due to a system error, it will not work. That leads to a series of negative effects on businesses: loss of effective assistants, reduced work productivity, etc….
The smaller the Break-Fix Cycles index, the better for the whole automated system. Because when the number of system failures is reduced, Robotic Process Automation can work continuously. Thereby helping businesses stabilize productivity and minimize the situation of pasting workpieces due to RPA errors.
Break-Fix Person Hours
Break-Fix Person hours allow users to know how long it will take to complete the repair of a broken bot. This metric is also related to the Expected Business Value metric. Because the maintenance of software robots will take time, cost, and effort of employees.
We should improve this indicator to a minimum so that our business expectations are highest. From there, the company’s revenue will be increased, and other indicators will also be increased.
Break Root Causes
Break Root Causes is an indicator of why the bot was active in the first place. It gives you the ability to identify exceptions and vulnerabilities while automating the process. In addition, Break Root Causes is also a tool to help businesses comment and consider expanding the scale of RPA, maximizing the uptime of software robots. From there, the automated process is improved, and profits are maximized.
Average Automation Uptime
Average Automation Uptime is an indicator of RPA’s ability to work. This parameter gives you the working frequency of the bots to know the level and knowledge of the RPA for each job set.
In addition, the Average Automation Uptime is also related to the expected business value index. Because in the cost budget calculation, there is also the efficiency index of RPA. The lower the average automation time, the higher the expected business value.
Business Value Lost in Downtime
Business Value Lost in Downtime is a metric that measures the impact of troubleshooting with an RPA program. It relates to the total projected annual costs of the business.
Business Value Lost in Downtime is understood as the cost lost when the robotic process automation fails or needs maintenance. At that time, the company will have to pay to fix the problem. Work productivity is reduced, leading to a decrease in revenue.
Above are 10 metrics you should measure to evaluate the effectiveness of Robotic Process Automation. Each indicator represents a different aspect; based on them, you can know if your process is working effectively or not?
In addition, regular observation of RPA’s metrics will help businesses estimate the company’s total expected annual costs. At the same time, RPA’s automated process optimization and improvement work become easier.
WinActor is NTT Groupâ€™s Robotic Process Automation software. This robot works based on memorizing human actions, and it is capable of working accurately. Today, RPA is widely applied in businesses and companies to reduce work pressure and increase labor productivity. If you are still wondering about a good quality RPA software robot, WinActor could be the best choice for you.