• December 3, 2020
RPA Reduces Costs for Procurement Offices by 17, Says Report

A new report highlights procurement offices as prime targets for automation. According to The Hackett Group, when the procurement department begins using RPA, it can result in cost reductions of up to 17 percent on average. When organizations implement RPA as part of an overall digital transformation, cost reductions are even greater—up to 45 percent or even higher, the report said.

For world-class organizations, which the Miami-based consultancy defined as the top quartile of companies they looked at based on effectiveness and efficiency, the benefits of automation and digital transformation are even greater. RPA, the report said, can yield a 43 percent decrease in costs.

While the report focused on cost savings, it also noted that removing humans from certain processes results in considerable error reduction. “Fewer handoffs means fewer mistakes,” the report said.