Technical debt is inevitable. But by using the right solutions, you can reduce technical debt and, instead, use it for your business advancement.
Does this excite you? If yes, then let us see that how you can move from technical debt to technical wealth.
This article will guide you through definitions of technical debt and wealth. Further, it will take you through five real-world cases of technical debt and rectify them using RPA.
So, what’s the wait? Let us dive into it!
What is meant by Technical Wealth?
Technical Wealth (also known as Technical Asset Management) can be defined as a combination of business processes and practices that sustain business lifecycle management. These practices include contractual, financial, and inventory operations. It can also refer to multiplying total wealth in the long run and marketing on investments that can potentially grow in value.
So, after knowing the definition of technical wealth, let us see how you can use RPA to reduce technical debt and move to technical wealth.
Ways To Reduce Technical Debt With RPA:
After learning the meaning of technical debt and the factors that lead to it, let us look at some real-world technical debt scenarios and see how RPA can help to reduce technical debt in such cases and lead the company towards technical wealth.
Data-Related Technical Debt:
A successful marine equipment company, expanded over the period, lagged in timely testing products due to lack of proper documentation, leading to regression.
For this case, RPA can help by keying the data into CRM without any error. RPA can toggle between various interfaces and register data, and key them into CRM.
Structure-Related Technical Debt:
An IT-service organization lacked a proper structure of onboarding. So, when the firm experienced a hiring boom, it could not retain it because it didn’t develop a standard application programming interface (APIs). The company faced unstable teams because of this negligence.
This IT company faced with unplanned and unmanaged hiring boom. Onboarding is a tedious and time-consuming process, be it customer onboarding, vendor onboarding, or employee onboarding. It requires a lot of documentation process and vetting. However, RPA can streamline the onboarding process by eliminating complexities, human-prone errors, paperwork, and much more.
Time-related Technical Debt:
A Canadian company used a quick ‘if-then-else approach to translate the product from English to French and Japanese. Because the firm used a shortcut approach and neglected using a sophisticated system, the firm was challenged to translate the product for other regions.
In this scenario, RPA can help by automating the variation of reiterative statements in the codebase. Yes, RPA can also help translate MS docs, PDF files, or HTML text to other languages. In this case, RPA can help by accelerating the development of a multi-lingual software version.
Cost-Related Technical Debt:
Two big financial firms decided to merge and develop a new IT system. In creating a new IT system, the developers overlooked the system’s architecture, and as a result, they had to rectify a mass of incorrect codes.
By implementing RPA tools for end-to-end business process testing, it offers codeless automation. Compared to traditional tools, coding in RPA is minimal. And it quickens the process. RPA tools come with CI-CD integration that enables continuous automation and monitoring of the product.
Resource-Related Technical Debt:
A health organization failed to generate automatic renewal of contracts. This failure led them to perform the task of managing contract renewals manually. They lacked the resource to automate the renewal of the contract management system.
RPA is the best solution when it comes to performing repetitive tasks. In this scenario, RPA can help by taking over the creation and execution of contract renewal and freeing the technical team from manually performing the task.
So, these are the five basic real-world technical debt scenarios that are prospective candidates for RPA implementation. Once you know the best suitable processes for RPA implementation and start integrating them into your operations, you take a step towards technical wealth. As we read earlier, technical wealth is nothing but the practice of increasing your total wealth for the long run. So, start using the benefits of RPA to build technical wealth.
If this article has been insightful, share it with your firm and educate your employees to reduce technical debt with RPA.
Get Help From The Experts!
If you are facing technical debt issues, then call our experts! If you are looking for long-term solutions and benefits for your business, call our experts! Our RPA experts will guide you and help you with RPA solutions. So, what’s the wait? Call us now at +91-8010-369-369 or write us your queries at email@example.com. Book your free demo NOW!