Smart Automation: Unlock the full potential of digital transformation
By The Hackett Group
Procurement organizations can execute work with 25% fewer full-time equivalents (FTE)s and at a 17% lower cost than they do today by adopting smart automation – a category of technologies that includes robotic process automation (RPA), smart data capture, conversational interfaces, cognitive automation and agile orchestration – to optimize structured knowledge and interaction work. Furthermore, world-class procurement organizations that deploy smart automation technologies in new use cases to execute work that is already highly technology intensive may find themselves positioned to realize a digital world-class productivity advantage of up to 55%. These findings – part of a new analysis that combines The Hackett Group’s benchmarking data and digital expertise – highlight the size of the smart automation prize. To deliver on that potential, though, procurement organizations must adopt new ways of deconstructing and analyzing work to identify optimization opportunities and determine the right smart automation tools to apply. They will also need to take targeted actions to mobilize the organization for the journey.
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The Hackett Group
The Hackett Group (NASDAQ: HCKT) is an intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices digital transformation firm to global companies, offering digital transformation including robotic process automation and enterprise cloud application implementation. Services include business transformation, enterprise analytics, working capital management and global business services. The Hackett Group also provides dedicated expertise in business strategy, operations, finance, human capital management, strategic sourcing, procurement and information technology, including its award-winning Oracle and SAP practices. The Hackett Group has completed more than 16,500 benchmarking studies with major corporations and government agencies, including 93% of the Dow Jones Industrials, 89% of the Fortune 100, 83% of the DAX 30 and 57% of the FTSE 100. These studies drive its Best Practice Intelligence CenterTM, which includes the firm’s benchmarking metrics, best practices repository, and best practice configuration guides and process flows that enable The Hackett Group’s clients and partners to achieve world-class performance.