What tips would you add to the following when making a business case for procurement technology (like RPA)?
Be clear about the problem (or opportunity) that we are trying to address. Define your problem in an agnostic way and explore all potential solutions to the problem.
The point is that investing in technology may not be the only or the most appropriate solution. Don’t ‘back fit’ a technology solution to a problem without exploring other potential solutions
Baseline the ‘as is’ situation as accurately as you can. The distinction between tangible and intangible impacts of technology is important as, by definition, we can’t measure intangible impacts. But without a baseline, we can’t scale the benefits
The benefits from improved procurement throughput (doing existing things better) or getting better outcomes (doing new and different things) will often far outweigh time efficiency benefits
Classify your benefits into tangible (measurable) benefits and intangible benefits. Tangible benefits need to be credible and evidence based. Good practice is to relate benefits to corporate goals and priorities
Benefit projections are often conditional upon assumptions. Validate that your assumptions are realistic, and consider expressing benefits as a range, with ‘best case’ and ‘worst case’ outcomes as a form of sensitivity analysis
These are really helpful tips. But i believe that the technologies like RPA require a heavy investment and can cause a huge a loss if it gets damaged. So, its very important to understand all the demerits associated with these and prepare yourself for the same.