When is it right to admit your forecast is not precise? 

In terms of accuracy, many people claim that their forecast is very good – on average. In one tea manufacturing company I worked with the sales director claimed a 2% accuracy for his monthly sales forecast. The manufacturing director was less impressed because some individual products were 30% over, and some were half the forecast. The fact that they balanced out over the whole month and the whole product range did not make life easier in production 
“Prediction is difficult, especially about the future” – Niels Bohr 

Precision vs Accuracy 

There are two key aspects to any business forecast and that is the precision and the accuracy of the forecast. These two terms are often, even usually, confused and I often must check which is which myself! An accurate forecast is close to the actual outturn; a precise forecast has a narrow spread and is more reliable. If I forecast sales for one day only, I could be amazingly accurate on that day but would know nothing about the precision. If I forecast sales every day for a year, I am likely to discover that on half the days my forecast was too high and half the days my forecast was too low. On many of these days, I will be close; on many of these days I will be way off. This spread, or precision, is often the most important aspect of business forecasting. 

Aiming for the middle 

A military man I know once shared with me a technique they used when hiking across unknown territory. When walking across fields to hit a road going across their path which had a junction with another path or road which continued their journey, they would not aim for the junction directly. 
Airport Security Queuing

Who are the main suppliers of RPA technology? 

There are three main suppliers, with many others joining the fray all the time. 
(Courtesy: Forrester Wave TM Q4 2019) 
Automation Anywhere 
Forrester Wave Automation graph Q4 2019
Automation Anywhere is more script-based, while UIPath and BluePrism have visual process designers. This means you need to have better programming skills to use Automation Anywhere. 
Automation Anywhere and UiPath have Macro Recorders, a feature that will get you up to speed in process mapping, while BluePrism lacks this feature, due to their rather outdated technology. 
Besides these, there are specific differences when it comes to automation techniques. You need to consider your process and the steps taken to automate it. UiPath Robotic Process Automation shines in Citrix and was specifically designed for BPO Automation, based on client insights. 
From Cognitive Capability and Re-usability point of view Automation Anywhere leads the way. 
Client-server architecture is much better with Blue Prism. 

What is the future of RPA? 

Intelligent Process Automation (IPA) or popularly known as Intelligent Automation is an advanced form of RPA. Intelligent Automation combines RPA with other technologies such as: 
Structured Data Interaction (SDI) 
Machine Learning (ML) 
Natural Language Processing (NLP) 
Natural Language Generation (NLG) 
AI-Decision systems 
Chatbots and more 
This is helping businesses to automate processes more efficiently and effectively than RPA. 
The main focus is to deliver meaningful and intelligent outputs. Unlike RPA, intelligent automation can efficiently process unstructured data, with better exception handling and continuously learn. It offers better cost reductions compared to RPA. 
For note, the ratio of Robots to Humans is a measure of how far an organisation has embraced RPA. A recent survey shows companies Robot: Humans ratio is: 
8% are 1:1 
64% less than 1:1 
28% are zero 

Some examples of RPA projects Implement has delivered 

We applied both RPA and automation to enable our client to check compliance to sales processes more quickly and with significantly less human resource.  
Click here to read the full case study. 
Working in partnership with Lean Consulting. 
Regulatory compliance in Financial Services
Real time work allocation
We created a Bot that had the flexibility to manage the allocation of work across many departments, from the call centre to underwriting and claims processing, taking into account availability, technical competencies and existing workload.  
Click here to read the full story. 
Working in partnership with Lean Consulting. 
For more information or to book your exploratory consultation please call us on 020 7739 6565 or email admin@implementconsultancy.com 
Switch from manual processes to RPA processes
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