NEW YORK, June 16, 2020 /PRNewswire/ -- Kryon®, the leading full-cycle automation solution provider known for its customer-centric approach to robotic process automation (RPA) and process discovery, today announces the results of a Forrester Consulting study, The Total Economic Impact™ (TEI) of Kryon Full-Cycle Automation Suite. The study was commissioned by Kryon to answer the ever-present question for any company taking its first steps toward an RPA implementation: "What tangible results will this investment generate for my business?" On June 17, 2020, Kryon will host a webinar featuring Forrester to discuss the results of the TEI.
To answer the question, Forrester interviewed two Kryon customers, Wyndham Hotels & Resorts and Long Term Care Group (LTCG). Both organizations have used Kryon's RPA solutions for several years and introduced Kryon Process Discovery™ last year. Forrester built a single financial model representing a composite organization to evaluate the value of full-cycle automation, providing a rigorous cost-benefit analysis that incorporates an evaluation of future technology, business flexibility, and associated risk.
The resulting model finds that a $2.9 million investment in Kryon's Full-Cycle Automation pays for itself and nets $10 million in benefits over three years, generating 352% ROI. These savings are generated by increasing productivity, raising engagement, streamlining training, and reducing internal support costs through a shift toward an automation-oriented culture.
Both Wyndham and LTCG were using Kryon's RPA solution and later rolled out Kryon Process Discovery™ after its launch in June 2018. Forrester evaluated Kryon Process Discovery's benefits on top of Kryon's RPA platform and showed that it enables organizations to:
- Identify and automate 75% more processes through unattended RPA
- Reduce time spent on identifying and mapping each process by 80%
- Reduce time spent on developing each automation process by 50%
- Reduce time spent on maintaining bots by 50%
- Achieve ROI of 352% vs 220% in the RPA only scenario
"We commissioned Forrester Consulting for this study in order to provide businesses the opportunity to evaluate the potential financial impact of Kryon's Full-Cycle Automation and the huge value-add that Process Discovery brings to the scaling up and successful implementation of RPA," says Harel Tayeb, CEO of Kryon. "The high 352% return on investment is a testament to the unique value that Kryon brings to its customers over any competitor on the market today."
For the complete study, please download it here.
About the Total Economic Impact™ of Kryon Full-Cycle Automation Study
Commissioned by Kryon®, this Total Economic Impact™ study examined the potential ROI enterprises may realize by deploying Kryon Full-Cycle Automation. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of Kryon on their organizations. Forrester aggregated the findings and data from two Kryon customers to evaluate the benefits, costs, and risks of an investment in Kryon Full-Cycle Automation.
Kryon® is a leader in enterprise automation, offering the only platform on the market which encompasses both Process Discovery technology and Robotic Process Automation (RPA). The Kryon Full-Cycle Automation™ solution maximizes ROI and cuts RPA implementation time by up to 80 percent. Powered by proprietary AI technology, Kryon Process Discovery™ automatically generates a comprehensive picture of business processes, evaluates them, and recommends which ones to automate. Kryon offers desktop-based attended RPA, virtual-machine-based unattended RPA, or a hybrid combination of both. The company's award-winning suite is used by enterprises worldwide, including AIG, Allianz, Deutsche Telekom, Ernst & Young, Ferring Pharmaceuticals, HP, Microsoft, Santander Bank, Singtel, Verizon and Wyndham Hotel Group.