Hyperautomation is the need of the hour for SMBs


Automation is becoming all-pervasive. Gartner has predicted that the global robotic process automation software revenue will reach $1.89 billion in 2021; this is a 19.5 per cent jump from 2020. Though automation has been in the picture for a while, adding a layer of advanced technologies, hyperautomation has gained a significant buzz among the C-suite since it ranked first among Gartner’s top 10 strategic trends for the year 2020. With the help of—but not limited to—advanced technologies like artificial intelligence (AI), robotic process automation (RPA), machine learning (ML), and intelligent business management software, hyperautomation takes the whole automation process a step further.

Hyperautomation – A notch above automation

Even though technology plays a key role, hyperautomation is beyond a mere amalgamation of multiple technologies or siloed toolkits, products, or services; it incorporates process design. In essence, hyperautomation is an approach to rapidly identifying and automating multiple end-to-end processes.
However, hyperautomation should not be approached as an end state. It’s about developing the culture of asking ‘Can I do it better?’ repeatedly and constantly reinventing every step in the process. It’s a journey that organisations must embrace to automate multiple end-to-end processes across the enterprise. When we say ‘enterprise’, is hyperautomation a prerogative for only large companies? Does it transform small and midsize businesses (SMBs)? The answer is yes.

Reimagine the way you work

Hyperautomation is about thinking innovatively and empowering employees to reimagine work in a fundamentally different way. From task automation to process automation, the organisation can move toward process reinvention. Let’s take a common use case: employee onboarding. Document collection and verification, being a ‘swivel chair’ work, can be taken up by the digital workers (robotic process automation). The AI engine can read and parse the documents sent by the employee, and the bots route them to IT and finance departments. The humans come into the picture to handle exceptions. As another example, Vuram automated end-to-end invoice processing for a client in the Middle East. Upon automating the entire process, more than 85% of the process went through straight-through processing.

Enhance customer experience

Hyperautomation technology stack adds a layer of intelligence (machine learning and analytics) to the legacy systems. With this addition and defined business rules, ML algorithms can make decisions on behalf of humans with little or no intervention. On the other hand, together with humans, hyperautomation has the potential to create a workforce that is well-informed, nimble and capable of using data and insights for swift and precise decision-making. These technologies make delivery of tasks more efficient, smooth and accurate, resulting in superior business outcomes and enhanced customer experience.

Improved decision making

With hyperautomation, SMBs can integrate RPA with AI and ML skills to arrive at decisions derived from business data. The ability to visualise current data through advanced analytics contributes to accurate insights and better decision making. Risks and opportunities can be identified immediately. The workplace can be informed and agile enough to make quick decisions. These developments were not possible erstwhile with traditional automation techniques. Thus, hyperautomation validates the significance of automation as well as augment it to display how all these technologies can be used in tandem for end-to-end superior automation solutions.

Today, hyperautomation has developed and matured to the extent that it has permeated nearly every segment of the economy. Hyperautomation can make SMBs that rely on the human workforce to do a majority of the tasks to transcend to a low-touch, autonomous organisation where humans perform critical, cognitive tasks. When adopted wisely, hyperautomation can trigger in-depth and large-scale transformation across processes, market strategies, and infrastructure. In this regard, the enterprises need to take a call on when the pilot projects have run their course and should be expanded in their scope across the whole organisation. Although initially, the new tools, talent and processes will seem like a humongous challenge for the company, but once absorbed in the thread of the organisation, it can lead to significant top-line growth or savings for the bottom line.

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Disclaimer

Views expressed above are the author’s own.



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