With the innovative technology available to us today, we can do so much more than we were able to just a decade ago. Professional teams are always looking for ways to move faster and accomplish more, and automation has been key to helping them reach their goals. As our adoption of automation has grown over time, new technologies and tools have become available, setting the stage for a whole new era of automation—one that makes its potential in optimizing business processes and improving the lives of employees even greater: hyperautomation.
Hyperautomtion is essentially an amalgamation of other related technologies that further enhance the effectiveness of the solutions they are intended to provide, and it is often considered as an advancement of Robotic Process Automation (RPA). RPA works on automating rule-based human processes, or tasks that are repetitive, with the aim of eliminating the need for human intervention. Hyperautomation, on the other hand, welcomes human actions alongside because, in hyperautomation, we're trying to simulate human intelligence. This is possible with the help of AI (Artificial Intelligence), ML (Machine Learning), analytics, and process mining (refer to Fig. 1).
To better understand what hyperautomation is, it might be helpful to explain it with a metaphor. Consider, if you will, that you're starting a new position at a bank. During your training for customer onboarding, you discover that they have a long and intricate procedure that they require you to carry out for each new customer you sign up. With KYC regulations in place, there's a lot of documentation involved, and the process involves the following steps:
Sure, this may be a standard operation for banks, but there are certainly a lot of steps in this process that could be automated successfully. With that in mind, how can we hyperautomate this process?
Although it's a relatively new technology coined by Garter back in 2019, teams across a multitude of different industries have been adopting hyperautomation. So, how can you use it in your organization, and why is it even worth considering at all? Well, to start, it can help you in the following ways:
Introducing hyperautomation to your team's processes can have the intended effect of empowering your employees to do more, bringing about a noticeable increase in productivity. By automating low-value tasks, you'll pave the way for your team to shift their focus to more high-value tasks that require creativity and a more human touch. With this approach, your business can operate more functionally and with greater agility, creating an efficient workspace that is more innovative and driven. Freeing up your employees from more mundane tasks also has a positive effect on overall employee satisfaction too.
Hyperautomation integrates with technologies across various systems and effectively bridges the gap between legacy and more modern systems. It also has the added benefit of improving process visibility and brings together data in order to generate more actionable insights.
Hyperautomation has the capacity to automate processes and perform complex tasks without errors. This naturally decreases error rates and improves speed and performance. Furthermore, the added power of AI, ML, and process mining enables the automation of end-to-end business processes which makes it easier for you to operate with a smaller, more nimble workforce. Adopting hyperautomation also decreases performance burden for both enterprises and employees alike.
One of the biggest benefits that hyperautomation can bring from a business perspective is an increase in revenue as a result of cost reduction. With hyperautomation, you eliminate the need for manual, resource-heavy touchpoints and can replace them with more streamlined, automated processes. How much can something like this save you? According to a prediction by Gartner, enterprises can reduce operational costs 30% by 2024 when they leverage hyperautomation.
This benefit is especially relevant for those in e-commerce and other similar, customer-centric industries. One of the main goals of these businesses is customer satisfaction, and having a more thorough understanding of your customers' wants and needs is paramount. With hyperautomation, analytics get a much needed upgrade that can significantly improve the performance of your company.
Take an online book shop for example—with hyperautomation implemented, AI bots can keep a tab on the number of site visits, customer behavior, purchase history, and so on. With this data, the bots can then make a series of educated predictions and recommendations. This provides the company with a greater insight into their customers so that they can make decisions accordingly.
Now that we've broken down what hyperautomation is and the benefits that can come with adopting it, let's take a deeper dive into how it actually works.
In general, the automation cycle follows the process of Analyzing, Improving, Automating, and Monitoring. But as we've already established, hyperautomation incorporates other technologies like AI, ML, RPA, and process mining. How do they work into the basic automation cycle? (refer to Fig. 2)
Note: Hyperautomation doesn't include a pre-decided set of technologies. It's not a single technology in and of itself, but rather an integration of related technologies that can be incorporated depending on the use-case.
Robotic process automation (or RPA) is a form of business process automation technology based on metaphorical software robots (bots) or on artificial intelligence (AI)/digital workers. It is sometimes referred to as software robotics (not to be confused with robot software)—source: Wikipedia.
The fact that hyperautomation has been listed as a top trend by Garter the last three years running does much to suggest that it's going to replace traditional automation as we know it—making our tasks easier and our processes even more efficient.
If you're looking to inject some hyperautomation into your current business operations, our expert team of professionals at Crowdbotics can help! We specialize in helping businesses implement tech solutions that take their operations to great, new heights. Get in touch with us today for a comprehensive assessment of your organization's development automation needs.
June 18, 2021