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Today’s businesses brim with opportunities to automate processes. According to a survey by Gartner, 80% of executives think automation can be applied to any business decision.
Though bits of automation help, taking a holistic approach gives companies a competitive edge, boosts productivity, and reduces costs. This is where “hyperautomation” comes in.
Deconstructing Hyperautomation
Hyperautomation is an approach that combines automation technologies and development approaches, such as artificial intelligence, low code/no code development, and robotic process automation, to improve business processes. The end goal of hyperautomation is to empower teams to shift their focus from repetitive tasks to strategic initiatives that drive growth and innovation.
As an example in the following sections, we’ll delve into how a multichannel retailer initiated its hyperautomation journey.
Robotic Process Automation
Robotic Process Automation (RPA) is a software technology that automates routine, rule-based tasks. Like recording macros in Microsoft Excel, RPA bots can be programmed to execute a precise set of actions, mimicking human behavior in any software, including legacy applications. RPA can accurately complete mundane tasks much faster than humans and is widely used in various industries, including finance, insurance and healthcare.
Curious about automation, the retailer started small by automating invoice processing in the finance department. Before automation, the staff received invoices on paper or in myriad digital forms. They sorted and categorized the invoices, manually adding the details into the accounting system. The process was repetitive, time consuming, and susceptible to typos.
After automation, the invoicing bots extracted data from completed paper forms using OCR technology, retrieved information from several applications, and processed the information. RPA saved time, resources, and empowered employees to focus on high-value activities.
Artificial Intelligence
While RPA excels at handling pre-defined actions, tasks that require complex decision-making are beyond its capabilities. But artificial intelligence enables more dynamic forms of automation.
Companies, for example, can use AI for tasks that require judgment, learning, and adaptation, such as fraud detection, anomaly analysis, and predictive maintenance.
With invoicing streamlined, the retailer used AI to analyze customer data from the invoices and unearthed valuable insights about customer spending patterns.
Low-Code/No-Code
As the name implies, Low-Code/No-Code (LCNC) are application development platforms that support rapid application development with minimal coding. LCNC platforms empower business users or non-technical users to build custom apps rapidly by dragging and dropping visual interfaces and using pre-built components. The platforms support business agility by allowing anyone to bring ideas to life quickly, whether it’s automating repetitive tasks, creating internal tools, or even developing mobile apps. While the ease of LCNC development is a boon, it can also lead to unauthorized shadow IT practices. To maintain control and prevent siloed applications, companies can collaborate with skilled technology partners who can integrate LCNC solutions with existing technology infrastructure and align LCNC projects with the overall IT vision.
After analyzing the customer spending pattern, the retailer decided to build a custom app for their sales team using LCNC technology. This allowed them to tailor product recommendations and boost closing rates.
What began as a simple RPA experiment snowballed into a full-fledged hyperautomation journey, transforming the company.
Benefits of Hyperautomation
Apart from cost reduction and boosting efficiency, hyperautomation offers a myriad of benefits.
- Empowering the Workforce: When repetitive tasks are automated it frees employees for higher-order thinking, creativity, and strategic problem-solving, leading to enhanced job satisfaction, and innovation.
- Agility and Adaptability: Hyperautomation allows organizations to respond rapidly to market changes, ensuring a competitive advantage.
- Streamlined Workflows and Data-Driven Insights: Hyperautomation integrates disparate systems and automates complex processes, providing actionable insights for better decision-making.
- Continuous Improvement: Hyperautomation enables continuous process optimization. Each automated task unlocks valuable data and insights, empowering companies to constantly refine and streamline workflows.
Hyperautomation Challenges and Considerations
Some jobs might shift due to hyperautomation. To make the transition smoother, it’s crucial for companies to invest in reskilling initiatives that equip employees with the skills needed for the new positions. Since hyperautomation isn’t a one-off task, it’s also important to establish a robust governance committee made up of representatives from IT, business operations, technology consultants, and compliance to oversee an organization’s hyperautomation plan.
Building a Winning Hyperautomation Strategy
The hyperautomation journey demands active monitoring, tracking progress, and strategic adaptation to maximize the impact. Clear governance is the key to unlocking the full potential of hyperautomation.
Organizations need to establish explicit policies outlining the types of tasks suitable for automation, a streamlined approval process for new projects, and robust monitoring and reporting mechanisms.
Partnering with technology experts like Eleviant-CTG can ensure optimal process selection for maximum efficiency. As hyperautomation is not a one-size-fits-all solution, every organization needs a tailored approach to reap its full benefits. Talk to our experts to find out how we can help you unlock the true potential of hyperautomation.
