In today’s digital-first world, hyperautomation is the need of the hour as businesses, large and small, realign themselves to the new normal. It is now a matter of survival for organizations across the globe to adapt to automation as a way of functioning in this evolving landscape. Gartner predicts that the global hyperautomation-enabling software market will reach nearly $1.04 trillion billion by 2026, with a CAGR of 11.9%.
Organizations have begun the shift towards integrated, end-to-end solutions for their business leveraging the power of hyperautomation. This approach is a significant step-up from the standalone solutions that are slow to implement and cost-inefficient owing to their disparate nature. CEOs and heads of digital are expected to embrace and drive automation as a “strategic motion” given that enterprises that excel at automation will continue to stay leaps ahead of competitors that do not.
So, how do you build these integrated, end-to-end business solutions?
The need for an integrated solution that can connect the various functions and verticals in an organisation has become more critical now than ever before. Leveraging an enterprise automation or hyperautomation enablement platform therefore becomes imperative for organizations as they digitally transform their operations and processes. Hyperautomation enablement platforms like EvoluteIQ’s EIQ platform is designed to drive the core initiatives of an organization that are focussed on revenue, business operations, and growth.
The EIQ hyperautomation platform has a host of integrated capabilities that can help a business implement secure automation at scale and builds business applications 15x faster than traditional platforms.
From automating workflows to providing actionable real-time data insights for effective decision making and powerful integration with legacy systems or out-of-the-box applications at a fraction of cost, the EIQ platform is customizable and easy-to-use with a simple drag and drop facility.
Suggested Reading: What is Hyperautomation?
Powerful Capabilities in a Low-code Environment:
The EIQ Platform combines the capabilities of process orchestration, RPA (Robotic Process Automation) data and event processing, AI/ML, enterprise connectors and front-end application development to build seamless user journeys using a simple, low-code/no-code interface.
With the recent release of the latest version of the EIQ platform: the EIQ 5.0 – Nile Edition, we have introduced a unified data infrastructure, enhanced decision automation, faster enterprise integration, unified RPA capabilities, and productivity management tools rounding off our offerings and weaving the functionalities together.
For instance, take the case of RPA. Traditional RPA by itself automates repetitive human tasks but has limitations in scenarios such as in the case of in accounts payables where you get the invoice from a third party, a human verifies and validates them, and processes it further for approval reducing up to 60% of vendor invoice processing cycle times. However, RPA in today’s shape and form alone cannot address requirements beyond repetitive task automation.
This is where Process Flow as a capability comes into play to enable end-to-end workflow automation. While RPA and Process Flow take care of automating repetitive tasks and task automation, these are only transactional in nature and often not adept to cater to the vast amount of data that is involved. To further utilize such data, Dat Flows and Machine Learning Flows play a part in ingest, transform, and analyze data as well create actionable insights out of it.
To cater to use cases involving real-time streaming data such as in the case output from ECG devices, IoT (Internet of Things) devices, social media monitoring, the platform’s Event Flow capability can be used.
The EIQ Platform Connectors help connect to the multiple existing disparate systems in an enterprise and enable all systems to “talk” to one another. All these applications must be delivered across web or mobile device, and for this, the EIQ platform provides multi-channel apps all of which is available on a low-code/no-code seamless platform unifying functionalities under a single roof at a fraction of the cost.
As EvoluteIQ Co-founder and CEO Sameet Gupte says, “Most players in this space attach a steep cost to a solution like this but we at EvoluteIQ believe that transformation and innovation doesn’t always have to be expensive; that the future lies in democratization of technology, not a monopoly.”
If you would like to learn more about the EIQ platform functionalities and how we can help you take your automation journey to the next level, contact us today.
Suggested Reading: Hyperautomation-The Next Big Move Towards Smarter Automation