Hyperautomation: The Digital Transformation Catalyst

Hyperautomation - The Digital Transformation Catalyst

In today’s business landscape, smart organizations and leadership teams across industries are focused on creating a strong digital ecosystem. The need to enhance their direct digital channels, gain business agility and sustain the perpetually complex customer interaction and user interface (UI) is eminent. The focus is no longer to strategize in silos but is to bring a holistic process advancement at a massive scale. Consequently, the dependence on artificial intelligence (AI), robotic process automation (RPA), Internet of Things (IoT), cloud migrations, etc., has surged, and in essence, their binding technology – hyperautomation.

As defined by Gartner, “hyperautomation is a disciplined, business-driven approach to rapidly identify, vet and automate as many business and IT processes as possible”. On the other hand, “Automation/RPA is a non-invasive integration technology used to automate routine, repetitive, and predictable tasks through orchestrated UI interactions that emulate human actions”. In simple words, hyperautomation can be termed as the toolbox of RPA, AI, iPAAS, and other decision management systems. It drives higher-level functioning from task automation to synchronization to intelligence, predictive insights, data-backed recommendations, process mining, and adaptive informative decision making.

RPA enriched with AI and ML creates the core technology for hyperautomation and offers flexibility for automating even undocumented processes relying on unstructured data inputs. If it is delivered in a cohesive structure, it helps create an agile, real-time, end-to-end process automation with the simultaneous implementation of multiple projects. It also delivers a highly secured ecosystem for data protection using public-private key encryptions, HTTPS, and blockchain. Undoubtedly, Gartner has considered hyperautomation among the top 10 strategic technology trends in 2020.

The big question is…

How Important is Hyperautomation?

Enterprises have adopted innovative technologies like RPA, AI, and ML to liberate mundane processes across legacy systems; however, the adoption is mostly implemented, at best, in silos. This constraint does not deliver instant digital interactions or intelligently orchestrate tools in real-time for functional UI. With the advent of hyperautomation, every action can be synchronized seamlessly, securely, and precisely across multiple vendors, workers, or even robots through dynamic digital interfaces and channels. For example, hyperautomation has enabled companies to integrate ML and optical character recognition tools (OCR) to RPA to gain real-time automation in the accounts payable process. In another use case, Deloitte leveraged IBM’s AI-driven RPA solution for automating the Travel and Expense management and reduced its report generation time to 10 minutes from 3 hours.

Suggested reading: Hyperautomation and the Evolution of the Global Supply Chain

Additionally, extensive multi-channel communication via telephone, mobile applications, email, SMS, website, and chatbots are also possible. For example, the use of IVR for customer care immediately activates multi-level information search to generate agent-friendly interfaces suitable for specific customer requirements. This customer 360-insight (before the call is passed to an agent) saves time and helps create a personalized customer experience. Another prominent usage is ‘agent assist’ intelligence which resolves customer issues with swift background checks and researches the best approach for upselling/cross-selling. As per data, hyperautomated BPO centers claim a 50% reduction in call duration or even complete elimination with self-service chatbots. Moreover, digital chatbot-guided interactions empower customers too.

While C-Suites across the globe have begun embracing technological proliferation, they are also apprehensive regarding cost margins and cash flows. As a solution, hyperautomation brings financial and time value propositions through cost and operational efficiency. It needs no or minimal coding, doesn’t require major system integration or data migrations and allows multiple embedments with multi-robots/AI tools, including integration of CRM, BPM, ERP, and intranet sites, among others. All this in weeks, irrespective of the organizational complexity. Another important factor that makes hyperautomation the talk of the town is its highest levels of enterprise security, governance, and resilience. The scalability can be stretched to millions of employee/customer heavy enterprises with triple-protection levels for customer data.

EvoluteIQ offers an end-to-end hyperautomation enablement platform to help your organization achieve process orchestration, data and event processing, and AI/ML enterprise connectors to build a seamless user journey across its lifecycle. EvoluteIQ provides a single hyperautomation enablement suite with integrated capabilities all at the price of a few RPA bots unlike other alternatives available in the market. Click here to request a demo.

Suggested reading: The New Normal for the Banking and Financial Services Industry

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