Is hyper-automation the next big thing after RPA in the digital transformation journey? Is it helping organizations to boost up their revenues? By 2024, organizations will lower operational costs by 30% by combining hyper-automation technologies with redesigned operational processes.
Hyperautomation is reintroduced as a top technology paired with AI/ML. A myriad of technologies including Artificial Intelligence and Machine Learning were combined for decision-making, RPA to free workers from monotonous tasks. Digital process automation is based on automating workflow and with a combination of Artificial Intelligence and RPA it created Hyperautomation.
What is Hyperautomation?
According to Gartner, it is an approach in which the organizations identify and automate the business processes. It takes automation a step further and when businesses integrate hyper-automation in their operations there is an increase in efficiency, satisfaction, performance.
Here are the four main components of Hyperautomation:
Intelligent Business Process Management
It is more than just Automation
When you hear the name automation, Robotic Process automation is what strikes your mind. But hyper-automation combines tools and technology, highly advanced that leads a new way of work and operations.
It allows you to automatically produce the output even for the low-value tasks by using automation tools and advanced Artificial Intelligence. With very little human interference hyper-automation creates an environment that is agile and allows you to take an accurate decision.
How Does Hyperautomation Help Business Leaders?
Organizations across the world are increasingly adopting the new form of automation to save cost, optimize their operations, and let employees focus on the other useful and rewarding works. There are huge benefits of hyper-automation. Here are some of the key advantages of adopting this approach:
1. Optimize Productivity and Innovation
With the processes being more efficient the results are higher quality products and services. Delivery to the customers is enhanced and the product can be delivered in short deadlines as well. Employees have no stress of repetitive tasks, therefore they have more time to use their skills and create innovative solutions with the next wave of added value.
When customers and employees are happy there is increased productivity and innovation.
2. Upskilled Employee Base
When employees get to focus on their workforce to be more productive and do better, it creates a more skilled workforce. All the repetitive and boring tasks go to the machines and the employees can focus on their productive affairs. This creates an environment that can handle several expert activities.
So it means businesses can gain a competitive edge as they can upskill their employees with hyper-automation. It is enabling people and robots to automate together from basic to the most complex, end-to-end business processes.
3. Improved Insights and Analysis
The automated data and processes offer higher process visibility and deeper process analysis. It offers correct insights on process performance based on KPIs and ROI which makes for better data-driven decisions. KPIs are the metrics that tell businesses how they are performing against the established goals.
4. End-to-end process Automation
Hyperautomation is used to describe the next level of automation initiatives. Hyperautomation enables end-to-end process automation, creating the avenue for complex processes to be streamlined and error-free. When RPA is integrated with AI tools it can handle both structured and unstructured data throughout the entire process. Hyperautomation has opened more gates of possibilities where RPA alone is not enough.
5. A Good Return on Investment
When the businesses have access to analytics data they can ensure a better return on investment. ROI is the key metric for businesses as it tells you that you are making money on sales and marketing initiatives. ROI is the most important metric to know in what way it is impacting the business. Therefore, keeping track and achieving a better ROI is the main goal of hyper-automation.
The misconception about Hyperautomation that it would take away jobs is invalid. The idea behind Hyperautomation is to automate the processes more and increase productivity. It can integrate various technologies like AI, Machine Learning, Natural Language Understanding, and more.
Over the last decade, ToXSL has helped industries to build resilience in their businesses even during the economic crisis. We are one of the most ideal partners already in the path towards a productive and highly intelligent automated service for enterprises through Hyperautomation.
To implement these improvements take a look at our extensive portfolio and discover the best opportunities. Contact us and know the detailed information.