Robotic Process Automation is Efficient Short-Term Solution, but not Long-Term Strategy, Says Novarica
November 15, 2016 (BOSTON) – Robotic Process Automation (RPA) is often discussed as a relatively easy and low-cost approach to better processing and operations. Despite the futuristic-sounding term “robot,” the reality is that RPA is more of an interim solution and not a long-term replacement for proper system integration and modernization. In its latest executive brief available at http://novarica.com/rpa-2016/, research and strategic advisory firm Novarica explains the values and shortcomings of RPA and scenarios in which it might be appropriate.
“Robotic process automation can offer value if it is recognized as an interim fix on the larger path to integration and systems modernization,” notes Jeff Goldberg, Vice President of Research and Consulting and lead author of the report. “For those insurers still operating on mainframe systems, RPA can cut costs and free up human resources to perform more valuable work in other areas of the IT enterprise. However, RPA is often erroneously viewed as a stand-in for true systems integration or modernization, and insurers will eventually need to replace or integrate core systems in order to keep up with the pace of change in the industry. While a worthwhile stopgap solution, insurers should be skeptical of promises of robotic process automation as the way of the future.”
Desk copies of the brief are available to qualified media. Please contact email@example.com or call Adam Asher at 617-897-1921 for more information.
Novarica helps more than 80 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its clients include more than 80 property/casualty and life/annuity insurers. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and of more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project assurance, and IT strategy. More information at www.novarica.com.