Kryon announces completion of Forrester Economic Impact Study

  • June 22, 2020
  • News
Kryon announces completion of Forrester Economic Impact Study
Kryon announces completion of Forrester Economic Impact Study
June 23, 2020 - Kryon, a full-cycle automation solution provider known for its customer-centric approach to robotic process automation (RPA) and process discovery, announced 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. On June 17, 2020, Kryon hosted 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 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
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