With robotic process automation (RPA) becoming a prominent topic of discussion, firms are thinking of ways to integrate digital labour into operations.
While swift results can be enticing, firms should identify relevant risks and ask the right questions before diving into implementation. By doing the initial legwork, firms can position themselves for success. Streamlined processes and effective controls can help pinpoint issues early and ensure a positive return on investment.
Implementing new technology is often a long and tedious process. This is why it’s so important to get all the steps right. RPA requires a structured controls approach to effectively address new issues that a firm may not have encountered before. Honing your focus on relevant risks and asking the right questions will ensure a successful RPA investment.
The following five areas of risks are important to address:
Doing the initial legwork can save additional effort later. As you implement your RPA control framework, we encourage you to ask the following questions:
While controls may come as an afterthought in new process implementations, firms can greatly benefit from effective control structures. Starting early ensures that implementation goes smoothly, and your business gets the most out of RPA.
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“Bots for the sake of bots is a very blunt instrument. . . . without investing the time in risk and controls assessments up front, you simply run the risk of making a big problem happen much faster.”
As Robotic Process Automation gains momentum, firms need to implement a strong control framework to address potential risks.
We design and deliver a sustainable control environment through 'best practice' processes and controls coupled with supporting technology and benchmarking.
We do this by:
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