To fully understand why we believe the market needs this new category you must understand the "why" behind Thoughtful. You'll then grasp why our world-view requires a new set of rules and solutions.
Why we're building Thoughtful
What you'll find is that RPA is a capability; it is NOT a solution. Once implemented, there's still a gap between developing the bots and maintaining them. This gap is what gets me most excited about our mission at Thoughtful.
We're building a company whose mission is to help people and organizations do the best work of their lives. We recognize this mission is a multi-decade endeavor that will have many acts. For act 1, we've decided to engage at the confluence where most work gets done, the interaction between humans and software.
We believe that humans are best positioned to tackle challenging problems using creativity and imagination.
We also believe that modern software can be an amazing leverage point for employees to do just that. However, there's a problem with this narrative. Most of the 1700 hours/year spent in front of a computer are NOT going towards high-value work for the average employee. What does this mean for your organization? Costly, inefficient, and uninspired populations within your workforce.
To better understand the problem, let's start with first-principles:
- Organizations pay employees to create value for the company, their teams, and shareholders
- Humans create the most value when solving problems to move the business forward or reduce costs
- The information revolution has organizations spanning healthcare, legal, defense, financial services, and insurance accumulating large pools of employees doing lifeless work in business software (data entry, invoicing & collections, clerical work, reporting, repetitive emails, data reconciliation, checking-work, etc.)
- Humans become unengaged when they're not challenged or put in a position to be creative, which is extremely unproductive and leads to employee churn!
These first principles unveil an EXPENSIVE and systemic set of problems for organizations. Problems whose symptoms look like bloated cost centers, poor data integrity in critical systems, high employee churn, issues scaling business processes, and trouble attracting top talent. Let's be honest, if you're an operator, you can likely point to several areas of your organization that have these problems.
Enter stage-left 🤩: Outcomes-Based Automation (OBA)
OBA is a category of software automation focused primarily on driving measurable outcomes. This new category of service reduces the implementation risk while delivering an outsized ROI. As the creators of OBA, Thoughtful partners with customers to deploy, manage, and grow OBA strategies (NOT sell software licenses), with measurable outcomes being front and center.
Our partnership model:
- We help with process design optimized for value creation and automation
- We build and deploy our bots using the most modern open-source technology stack. We're a preferred Robocorp partner and contribute to many of the open-source projects.
- We do iterative deployments with a focus on time-to-value for the business
- Guaranteed uptime, support, maintenance, and quality assurance for the life of the automation
- We charge via a clear ROI driven bots-as-a-service pricing structure
A key part of our engagement model is understanding your' economics to support the process "as it is today". Then in partnership, we define what success looks like for your automation program. As you'll see in Alex's piece, The Business Case for Thoughtful, we create a strategy that yields true outcomes making most OBA implementations a no-brainer and a valuable strategic lever.
We'd welcome the opportunity to discuss how an Outcomes-Based Automation program can help your organization cut costs, improve efficiency, and create a happier more productive organization. Get in touch!
Check out the original articlehere.
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July 19, 2023