Whether it is a strategy played out on a board game or planned out in a boardroom, all invested parties have the same end goal—to win—and ideally to win big quickly, smoothly, and easily with minimum risks and mishaps. When it comes to playing Scrabble, a lot of thought and plotting goes into a player mastering the game of wooden tiles to achieve the highest possible score. This game was first played almost a century ago in 1931. Similarly, a great deal of thought process and strategic planning goes into running a business for a smooth operation, from product development and production floor to on-time delivery and post-sale, in order to obtain the highest possible growth and company earnings. However, hyperautomation in a business setting was not available a hundred years ago. In fact, the concept of hyperautomation did not even exist at all.
What is Hyperautomation?
The term “hyperautomation” first surfaced in October 2019 when research giant Gartner included the new-age technology in its top ten strategic technology trends in 2020, and again in 2021 and 2022, soon after the onset of digital transformation. In just two short years, the use of hyperautomation has increased tremendously in numerous industries, including banking and finance, medical and healthcare, insurance, retail, and others. By 2024, Gartner forecasts businesses will be able to reduce operational costs by 30 percent just by using hyperautomation.
“Hyperautomation has shifted from an option to a condition of survival,” said Fabrizio Biscotti, research vice president at Gartner. “Organizations will require more IT and business process automation as they are forced to accelerate digital transformation plans in a post-COVID-19, digital-first world.”
If you are new to hyperautomation and its many benefits, it is a must-have technology, especially for businesses with complex processes. Hyperautomation is a new-age technology based on the integrated formation of a combination of Robotic Process Automation (RPA), artificial intelligence (AI), machine learning (ML), and other intelligent technologies that streamlines operational processes. It solves complex problems without human intervention by automating everything in an organization that can be and should be automated. Businesses who do not follow suit with hyperautomation and do not create a winning business formula of efficacy, efficiency, and agility will fall behind their competitors and eventually get left behind.
A-Z Benefits of Hyperautomation
The following are key benefits of implementing and utilizing hyperautomation, from A to Z.
- Automates all possible tasks and business processes by combining all AI technologies with RPA and BPMS.
- Bridges the gap between connected assets and business processes.
- Combines assembly of technologies, tools, and components to increase the extent of automation.
- Decreases manual work leading to fewer mistakes and higher accuracy rates.
- Enhances AI capabilities (NLP, OCR, ML, etc.) so more tasks are processed quickly and efficiently.
- Focuses on more strategic responsibilities rather than mundane and repetitive work.
- Generates better business efficiencies with faster and richer insights for quicker decision-making.
- Helps productivity by enabling bots and people to automate more complex, end-to-end business processes.
- Industrializes tedious and repetitive tasks and processes to make the work of staff easier.
- Justifies decision-making through data analytics and predictive modeling as computer algorithms process more data than humans at a given point in time.
- Keeps customers happier than ever through faster response times, more accurate results, and other positive results bettering the customer experience.
- Leverages more smart intelligence, improves consistency throughout, and reduces human error.
- Maximizes monitoring and streamlines and optimizes company assets, equipment, and business flows.
- Nurtures team collaboration, improves team productivity, and reduces team stress levels.
- Orchestrates work between staff and bots while processing unstructured data.
- Particularly advantageous for companies with legacy operations or low automation levels.
- Quickly deploys methodology for AI, ML, and OT/IT data orchestration.
- Reduces costs by replacing unnecessary manual tasks and by scaling operations.
- Simplifies processes by eliminating extraneous tasks that hinder production and quality.
- Tackles the tedious invoice process by automating the end-to-end, multi-layered approach to provide successful returns.
- Unlocks maximum potential by enabling everyone to contribute to the automation process.
- Useful technologies and tools to manage and maximize the automation cycle, from process discovery to product delivery.
- Validates automation and elevates it to show how the combination of RPA and disruptive technologies can be used together in an end-to-end automation solution.
- Welcomes everyone to contribute to the automation process to achieve a more significant bottom-line impact and higher ROI.
- X-outs manual work, which leads to fewer mistakes and higher accuracy rates.
- Yields higher-quality products with a faster time to market and less costs.
- Zoom in on and capitalize on the data collected and generated by digitized processes.
More and more companies are realizing the great benefits of hyperautomation and are utilizing the new-age technology not only to save costs, boost productivity, and gain efficiencies but for the overall operational win, from end-to-end. And with achieving the end goal of “winning” through the ease of hyperautomation, there is now more time during the day to sit back, relax, and play a game of Scrabble, for the win of course.