The benefits of RPA

Featuring Danielle Supkis Cheek, CPA, director of entrepreneurial advisory services at PKF Texas


Video transcript:

So RPA has a lot of benefits, and mainly, it’s about how many headcount can you reduce, because they [RPA bots] are truly digital workers. Because they are in effect sitting at a computer — but digitally, of course — like a human being would, you’re just giving it robotic processes to do that are just routine, regular, not thinking through a lot of things, but tasks. So what you want to look at for what cost savings you’re getting is how many headcount can you reduce with the digital workers for RPA. Usually, somehow comparing it to the benefits, the payroll, payroll taxes, holidays, bonus pay, weekend pay, all that kind of stuff. So you’re starting to talk about measuring it in the cost of FTEs. While the technology is fairly expensive, when you start talking about, “I’m replacing one, two, three people’s annual salaries,” and that’s just covering the first stage. Or even just bringing that up, maybe you’re not looking for terminations or anything like that because that’s scary and you have a really great team, but you can free up your really good workers to do higher-level, higher-order tasks that’s probably what they want to do rather than doing some rote data entry that a machine can do for you. And you’re also looking at reducing your turnover rate from unhappy employees because they’re doing low-level tasks.

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VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.