Why Organizations Implement Hyperautomation and What are its Benefits?

13 Aug Why Organizations Implement Hyperautomation and What are its Benefits?

For modern business enterprises, digital transformation can be achieved without end-to-end automation of its business processes. In its December 2019 report titled “Move Beyond RPA to Deliver Hyperautomation,” Gartner emphasizes that organizations “must deliver end-to-end automation beyond RPA by combining complementary technologies to augment business processes.”

This is what they term hyperautomation, which was the #1 trend for the “Top 10 Strategic Tools for 2020.” In the post-pandemic phase, organizations are adopting hyperautomation to cope with the ever-changing technology landscape and adopt a more “people-centric” approach.

What is hyperautomation and why are organizations adopting this technology trend? Let’s learn more.

What is Hyperautomation?

Hyperautomation is a combination of multiple technologies to achieve end-to-end automation. Starting from Robotic Process Automation (RPA), it leverages the capabilities of additional technologies like:

• Artificial Intelligence (AI)
• Machine learning (ML)
• Process Mining & Business Process Management (BPM)
• Other automation and analytics tools

Effectively, hyperautomation is the best way to achieve digital transformation through end-to-end automation of business processes (that were previously executed by human resources). According to the 2021 Gartner Predictions, over 20% of all products and farm produce (by 2025) will be first touched by people only at the time of purchase.

How does this help? For employees, hyperautomation improves their productivity levels, job satisfaction, and overall performance. For customers, hyperautomation elevates the customer experience (CX), thus improving both customer acquisition and retention.

What are the multiple benefits of hyperautomation for organizations? Let’s discuss that next.

6 Benefits of Hyperautomation

Through the integration of AI and RPA technologies, organizations can now unlock more automation opportunities using hyperautomation. While RPA focuses on automating manual repetitive tasks, hyperautomation can be used to automate complex processes within organizations.

Here are some of the 6 business benefits of hyperautomation:

1. Improves business agility

In today’s times, organizations must be agile and flexible to adapt to changing business needs. With hyperautomation, organizations can achieve and improve their business agility according to changing demands and requirements. Intelligent automation tools enable enterprises to keep pace with growing market opportunities.

2. Amplifies process automation

Every business organization has intricate but recurring business processes – or those that require knowledge and logical thinking. By using process mining & machine learning/ AI tools, Hyperautomation imparts greater “intelligence” to RPA, thus automating complex business processes. This minimizes human effort, thus “freeing” them for more productive and advanced work.

3. Encourages team collaboration.

Hyperautomation is not restricted to the IT function – but extends to all business functions and departments. For instance, hyperautomation involves IT, finance, and sales functions by connecting them through data and processes. RPA-enabled cognitive software bots interact with various team members, thus enabling them to collaborate and work together.

4. Improves employee engagement

With advanced technologies, hyperautomation reduces the level of manual work, thus improving employee engagement and satisfaction. Using low-code hyperautomation tools, organizations can empower employees to be part of their digital transformation journey. Apart from eliminating time-consuming manual processes, hyperautomation removes process “bottlenecks” across their business operations.

5. Achieves cost efficiency

Hyperautomation enables organizations to achieve cost efficiency by automating tasks that previously required human intervention. For instance, using process mining & machine learning/ AI models, finance companies can leverage high-quality data from automated processes to identify areas of cost inefficiencies.

6. Leverage business insights using data analytics

With hyperautomation, enterprises can unleash the power of predictive analytics to extract powerful insights and predict future outcomes. They can use these insights to identify areas of inefficiencies and how they can be improved. Hyperautomation empowers organizations to understand the prevailing business trends and make accurate predictions.

Here are some real-life hyperautomation examples (or use cases) for your understanding.

4 Examples of Hyperautomation

Hyperautomation can be utilized for the benefit of varied industry domains. Here are some real-life use cases where hyperautomation can be used:

1. Retail

Hyperautomation can transform the retail industry in multiple ways like streamlining their front-office operations such as email marketing or advertisements. Some of the back-office operations that can be automated include billing & invoicing, procurements, inventory management, and logistics. Additionally, hyperautomation in retail can help in improving the customer experience through offer types like coupons as well as other personalized services.

2. Healthcare

The healthcare industry can leverage hyperautomation to the fullest by improving patient experience. Medical personnel and physicians have easier access to patient information, thus helping them to provide better medical treatment. Additionally, healthcare companies struggle to comply with industry regulations and obligations due to manual processes. Hyperautomation (along with Natural Language Processing) can automate regulatory compliance, thus making them easier to follow.

3. Manufacturing

In the age of Industry 4.0, hyperautomation (along with BPM) can help in modernizing legacy systems and applications. This can ultimately lead to the production of high-quality products. Besides that, hyperautomation can optimize the supply chains by enabling manufacturers to acquire their materials on time. Through supply chain automation, manufacturers can overcome the costs of supply delays arising from reduced “human” operators.

4. Financial services

With hyperautomation, financial companies can leverage real-time financial data to offer improved customer services. Hyperautomation can satisfy the need to provide personalized CX based on the individual’s investment portfolio and financial goals. When used with Optical Character Recognition or OCR technology, hyperautomation tools can provide high-quality results by reducing manual intervention.

Hyperautomation – Our perspective

Along with AI and machine learning, our hyperautomation platform offers Robotic Process Automation (RPA) which enables end-to-end automation of intricate & complex business processes. At NuMantra, we believe that organizations can leverage the full capabilities of AI/ ML and RPA by first analyzing and streamlining their processes using mining.

The business insights provided by process mining can be combined with external business data to develop AI/ML models that can predict future business outcomes and lead to better decision-making.

Our Hyperautomation solutions have enabled our customers to:

• Boost their process accuracy.
• Improve their response time and agility.
• Improve operational performance and cut costs.
• Optimize their existing resources.
• Improve their process insights.

In Conclusion

Here is an insight into why hyperautomation is important for your business. If you are just getting started on your automation journey, you can use our RPA capabilities to automate “siloed” business processes.

Is your business enterprise ready for hyperautomation? Find out how? Contact our sales representative today!