The Total Economic Impact of SS&C Blue Prism: A 2024 study
The integration of intelligent automation (IA) technologies is revolutionising operations across various industries, but its impact on Shared Service Centers (SSCs) has been particularly transformative. A recent report by Forrester, commissioned by Blue Prism, highlights the substantial economic impact and efficiency gains that can be achieved through the deployment of Blue Prism’s intelligent automation solutions in shared service centres.
The report defines IA as connecting "an organisation’s people, digital workers, data, and AI (generative and other types) to streamline and optimise business processes and decision-making.
“Over the last five years, IA has moved from addressing mainly operational challenges to more strategic challenges,” stated the TEI study. “IA is also increasingly driven by management and leadership, rather than the IT or technology department and, while today automation management is coordinated across the organisation, it used to be siloed.”
Note for readers:
Artificial Intelligence (AI) and Intelligent Automation (IA) are related concepts but differ in scope and application:
Artificial Intelligence (AI): AI refers to the development of computer systems that can perform tasks that typically require human intelligence. This includes tasks such as problem-solving, learning, perception, language understanding, and decision-making. AI systems aim to mimic human cognitive abilities, often through techniques like machine learning, natural language processing, and computer vision.
Intelligent Automation (IA): IA, on the other hand, focuses on the automation of tasks and processes to enhance efficiency and productivity. It involves the use of technologies like robotic process automation (RPA), machine learning, and natural language processing to automate repetitive and rule-based tasks traditionally performed by humans. IA systems aim to streamline workflows, reduce errors, and free up human workers to focus on more complex and strategic activities.
Significant Cost Savings and Efficiency Improvements
The Forrester report underscores the potential for significant cost reductions as one of the key benefits of implementing Blue Prism's IA in SSCs. According to the study, companies have reported a reduction in operational costs by streamlining processes and reducing the reliance on manual labour. This automation leads to faster processing times and fewer errors, which in turn decreases the need for rework and manual corrections. Over a three-year period, the return on investment (ROI) for such implementations was found to be substantial, highlighting the financial viability of intelligent automation.
Another advantage of Blue Prism’s intelligent automation is the enhanced accuracy and compliance it brings to shared service operations. Automation tools are programmed to follow precise rules and regulations, which helps maintain high standards of compliance and reduces the risk of human error. This is particularly important in industries where regulatory compliance is stringent and non-compliance can result in heavy penalties.
Among 166 respondents Forrester surveyed, 60% revealed speed, productivity, accuracy and auditability improvements as a top benefit, while 65% had extended value across more end-to-end processes from a combined automation and orchestration solution.
Key findings include:
- Business growth worth $50.3 million
- $12.7 million in improved productivity
- $2.4 million compliance cost avoidance
- $4.2 million in improved employee experience and retention
Improved Employee Experience and Allocation of Resources
Implementing intelligent automation does more than just cut costs and increase efficiency; it also significantly improves the employee experience. By automating mundane and repetitive tasks, staff can be reassigned to more strategic, fulfilling roles that make better use of their skills and potential. This not only boosts job satisfaction but also enhances the overall productivity of the workforce. The Forrester report notes that businesses have observed an improvement in employee engagement and retention following the adoption of IA technologies.
Scalability and Flexibility
Blue Prism’s IA solutions offer remarkable scalability and flexibility, enabling businesses to easily adjust their operations based on changing market conditions and business needs. This adaptability is crucial for shared service centres that need to manage varying volumes of work and respond quickly to new opportunities or challenges. The technology's scalability also means that businesses can start with small implementations and expand as they grow more comfortable and familiar with the technology’s capabilities.
IA is set to redefine the landscape of shared services. As more organisations recognise these benefits, the adoption of intelligent automation solutions like those offered by Blue Prism is likely to accelerate, setting a new standard in efficiency and innovation in service delivery.
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