RPA is a powerful and reliable tool for businesses looking to automate their repetitive processes. While RPA promises several benefits for organizations and individuals, this technology has risks. Agile Managex Technologies will discuss the top RPA risks and how to handle them. Pay close attention, as your organization might be dealing with this issue, and you might not even know about it until it’s too late.

Tackling RPA Risks

1. Data Security

Cybersecurity remains the topmost concern for organizations globally. Unfortunately, cyberattacks result in data loss and can lead to long-lasting reputational damage and litigation. So, the actual cost of a single cybersecurity incident can rise to millions. As RPA bots handle sensitive data, security must be a top consideration.

Cybersecurity experts recommend putting in place measures such as encryption and access controls. Lastly, regular security assessments can help identify potential loopholes before a cybercriminal can exploit them. Agile Managex Technologies can not only help with RPA solutions but also with managed IT security services. Thus, you don’t have to worry about engaging a third party for risk assessment.

2. Process Interruptions

A bot is a piece of code, meaning it may not be perfect. You need to review the bot frequently to ensure it works as you intend. Otherwise, a process interruption can have a much broader impact on operations. Business process interruptions can cost millions and even loss of customers.

3. Change Management

‘RPA is a job killer’ is what most people think about RPA. Due to the rising inflation and global cost-of-living crisis, the last thing individuals want is a solution that will replace them. So they are likely to resist it.

From a business perspective, a failed RPA implementation means a loss of valuable resources and a dip in productivity. Therefore, the first thing businesses must do before implementing a disruptive technology like RPA is undertake effective change management.

The management must first assess the organization’s change readiness. Then, it should explain the need for RPA and how it will add value to the business. Secondly, communicate the benefits of RPA, including how it will not destroy jobs but make work easier.

For example, rather than waste time replying to the same customer queries throughout the day, let a bot handle it. The employee can focus on other value-addition tasks such as improving the process or engaging with prospective clients.

4. Bot Management

A single bot cannot automate all processes. In other words, you will have multiple bots working across your organization. In that case, bot management can become an issue. The best way to resolve the issue is by setting up a bot management policy. The policy will mention the bot owner for each bot, performance metrics, and trouble-shooting guidelines.

5. Data Quality

The RPA solution does not answer your problems if data quality is an issue in your organization. The bot works well only if the data is consistent and reliable. If there are data issues, then the bot will not work.

Regular data cleansing, validation, and verification can help improve and maintain data quality.

6. Vendor Risks

Lastly, organizations rely upon third-party vendors to develop, implement, and maintain their RPA solutions. Therefore, they must ensure the vendor is of good repute. Conduct due diligence and enquire about the vendor from different sources.

Conclusion

With the growing use of RPA, businesses are likely to encounter further risks. An effective risk management strategy can be beneficial in managing the risks associated with RPA. Agile Managex Technologies provides RPA consulting, implementation, and support services. Look at some of our existing RPA solutions and how they can add value to your business. Contact us if you require help with anything RPA-related.

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