Initial adoption of Robotic Process Automation (RPA) typically starts with Efficiency – using new technology to improve accuracy, quality, and speed while reducing costs. And the most common business case metric is some variant of Return on Investment (ROI), with the reference benchmark being the cost of a Full-Time Employee (FTE). But we know from decades of research that traditional ROI measures and cost/ benefit analyses typically understate ‘soft’ and strategic benefits when applied to IT investments, and don’t account for many operational, maintenance, as well as human and organizational costs, which can exceed technical costs by 300-400%. Moreover, inherited from IT evaluation practice, one tendency has been to understate total costs in order to be able to allocate only hard, financial benefits allowable under traditional ROI regimes.