Digital transformation is defined as the integration of digital technology into businesses, with the intention to revolutionize operations.
While Digital Transformation is a relatively new concept for many businesses, its history has roots dating back to the creation of the binary system at the beginning of the 18th century. The moment that “ones-and-zeros” started to replace paper, the dawn of the Digital Transformation age started. This transformation would continue to develop on the computers of the 20th century, followed by the apparition of the Internet and its expansion during the 1990s.
As companies grow their RPA program, one of the biggest challenges faced is scaling their automation program. Many RPA initiatives never leave the pilot phase or just encompass a few processes. In 2018, only 16% of companies had deployed several use cases at scale, while 45% were still at the test, pilot or Proof-of-Concept phases. Yet, RPA only reaches its full potential when deployed at scale. Only then will companies benefit from significant cost reduction and performance improvement and capitalize on the digital experience.
All these technological advancements spurred dramatic accelerated digital transformation. The use of digital technologies continues to spread and become more accessible, including: storage and treatment of increasing quantities of data, digitalization of payments, broadcasts and communication, and rise of GAFA. Since 2008, Data Science has boomed with the thrive of Big Data, Data Lakes, Artificial Intelligence and Deep Learning, among others. Companies now seek profound digital transformation for their businesses and strategies.
Digital transformation has become a priority on most company’s strategic roadmap. In particular, enterprise automation or Robotic Process Automation (RPA) is at the forefront of this digital shift. RPA is on the rise: with an estimated CAGR of 30%, the market size should reach $2.7 billion in 2023. The Oil & Gas industry, traditionally slower to adopt technologies, has embraced automation as the first step towards a new digital experience.
Automation is more and more adopted in the industry as a whole. However, only when organizations become mature enough and master automation foundations can they reach scale with automation: managing 100+ bots requires strategy, defined roles and responsibilities, IT assets, and a continuous improvement program.