Hyperautomation has been making a huge impact as the next big thing in automation innovation. It has been listed in Gartner’s Top 10 Strategic Technology Trends for 2021 and research by Gartner indicates that by 2022, 65% of organizations will introduce Intelligent Process Automation (IPA) that leverages Machine Learning (ML) and Natural Language Processing (NLP). IPA harnesses both Artificial Intelligence (AI) and Robotic Process Automation (RPA) to facilitate the hyperautomation of multiple processes from end-to-end. This end-to-end process automation – hyperautomation has myriad applications across a range of industries.
Hyperautomation has been so successful because of its ability to boost operational efficiency and the ability to process large volumes of unstructured content thanks to its AI component. Since processing unstructured content is a challenge for nearly 90% of businesses with its volume growing by 50-60% annually, hyperautomation presents itself as a much-welcomed upgrade. It also streamlines processes for optimal efficiency. Use cases often involve process redesign to get rid of any inefficient steps. Myriad industries are implementing IPA solutions for hyperautomation and the hyperautomation market is expected to exceed $23 billion by 2027 growing at an annual CAGR of 19%
The Need to Think Big
One of the ways you can impede your adoption of hyperautomation is by viewing its applications from a narrow point of perspective. You are essentially approaching it as the solution to an existing dilemma without considering how it could be applied to your entire business as an ecosystem. While this is a good starting point, a broader vision is required for maximum value from hyperautomation.
In order to extract every possible business benefit from an IPA implementation and in extension hyperautomation we recommend a more holistic stance on the matter. Despite wherever you may be at this current point, whether tackling singular issues at a micro-level or already considering extensions – the capabilities and potential applications of hyperautomation can always be expanded upon.
Pushing the boundaries of hyperautomation for your business will entail:
- A hands-on approach to broadening the horizons of hyperautomation as the business transforms.
- An IPA solution that is accessible to all while also relatively hassle-free to scale.
- Each and every employee can depend on the IPA solution for assistance in their delegated responsibilities.
- Back-end tasks will now become increasingly streamlined with the all-round automation of tasks.
Why Push the Boundaries of Hyperautomation?
While a single target approach might seem like the best possible application of your IPA implementation it is still considered a better option to go down the path of hyperautomation wherein the reach of IPA will be all-encompassing and all-purpose. Here is why you can harvest more value from hyperautomation applied enterprise-wide:
- Because Cost Cutting Depends on the Comprehension of Value – Companies who developed use-cases with a value-centric approach were able to reduce costs by 20%.
- Instant Scalability – Since additional human resources are not required to scale businesses can now do so on demand.
- Increased Accuracy – All manual errors can now be eliminated simultaneously removing the need to rework any processes.
- Rapid Turn-Around-Time – Processes and responses are much faster thereby boosting efficiency.
- Boost in ROI – A tangible 300% ROI in a matter of a few months.
- All Round Benefits – According to the Harvard Business Review, a strategy for enterprise-wide intelligent automation reduces costs, increase revenue and improves scalability and productivity.
Intelligent Operations for the Win
There are a plethora of benefits that result from the implementation of hyperautomation. The influence of hyperautomation is felt by every single individual within an enterprise since they can always count on the IPA for data and insights required for their tasks. Automated quote processing for instance can accelerate quote processing for faster turnaround times and sales reps can respond to customers faster, ultimately increasing sales. Customers can also benefit from faster quotes or swifter responses to other queries. This higher customer delight directly impacts overall company image and retains customers.
The crux of the matter is when an enterprise maximizes hyperautomation for an almost fully automated enterprise it will attain the ideal balance between what IPA does best and what humans do best. Employees are liberated from tedious, data-intensive tasks and can apply their creativity and unique skills to business challenges, while intelligent automation streamlines processes for maximum efficiency ensuring that humans are supported with the relevant insights and outputs for their tasks.
It is clear that hyperautomation is not just another digital fad but one that comes with tangible advantages. Integrating IPA into your business will entail identifying all potential processes that can stand to gain from the adoption of hyperautomation. As enterprises continue to experiment with various processes, they can begin to expand upon the value gained from hyperautomation and how it can best be of use for their specific requirements.
If you’re interested in exploring the subject further visit our blog on Why Hyperautomation is Imperative for Modern Businesses or our Top 5 Hyperautomation Trends to Look Out for in 2021.
Want to find out more about how you can make hyperautomation a part of your enterprise? the Rapid Acceleration Partners team would be glad to help. Our next-gen, AI-powered content intelligence platform RAPFlow enables full lifecycle AI orchestration on a single platform. When used in tandem with our RPA tool RAPBot, it provides end-to-end workflow automation capabilities that can be deployed in just weeks. You can even build your own use case and the platform can easily integrate with your existing systems. Book a demo to get a more detailed understanding of how our products can transform your business.