Going beyond RPA, to improve Straight-through Processing rate up to 82%
Digital Service Providers (DSPs) are on various stages in their Robotic Process Automation (RPA) implementation journey, as part of their digital strategy. RPA has gained all the attention and certainly reduced the cost of manual operations for various DSPs’ processes. Most organizations consider RPA implementation as a one-time solution and achieve Straight-through Processing (STP) of around 30-50%. However, as per industry experts, it is possible to achieve 75 to 85% STP for any enterprise’s process automation by focusing on continuous improvement. The potential factors impacting STP in DSPs’ process automation are:
- Multiple human touchpoints
- Inefficient human-robot engagement
- Processing unstructured, non-digital, and low-resolution image input data
This insight elaborates on Automation Optimizer Framework to identify automation inefficiencies within existing RPA implementations, perform automated repair and apply continual monitoring mechanism.
“Automation Optimizer Framework to improve Straight-through Processing”
Automation Optimizer Framework comprising of three major components namely Intelligent Root Cause Analysis Engine, Integrated Solutionizer, and Continuous Performance Monitoring tool. Implementing this framework can easily accelerate the Straight-through Processing rate by up to 82%.
- Srinath R
- Mogan A B
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