Hyperautomation: What it is and How Organizations Can Benefit from it

Hyperautomation Spans Entire Organizations

What’s particularly exciting about hyperautomation is that it spans multiple departments, networks, and job roles that used to require human intervention and cognition in some way. It essentially eliminates lower-level cognitive tasks and frees up everyday workers to focus on the most valuable creative activities. It’s a revolution of innovation and will dramatically impact organizations of all types. By 2024, Gartner projects operating costs can be lowered by 30 percent or more by using these vital technologies. Some of the most visible industries to be impacted include healthcare, insurance, travel, and government agencies, all of which rely on disparate legacy systems and relatively slow decision-making processes. 

Hyperautomation makes end-to-end processes far more intelligent and sophisticated, and it helps optimize the way tasks are completed. The technologies involved come in many shapes and forms, such as:

• Machine learning algorithms that continuously analyze data, surface patterns, and enable more accurate predictions and outcomes. 
• Natural language processing (NLP) algorithms that understand speech and writing can quickly interpret communications. 
• Optical character recognition (OCR) that enhances the process of transforming images into text. 

Key Business Benefits of Hyperautomation

Hyperautomation builds a connection between systems and operations with structured and unstructured data, simplifying data analysis and enabling faster decision making. Some of the most important benefits include:

Data Sharing

Hyperautomation simplifies the integration of data across business lines, systems, and applications, and ensures faster and more efficient data access. For example, an HR department can benefit from linking data across hiring, onboarding, and salary payments to provide a more holistic picture of the whole department’s operations. 

Real-Time Information Access

Organizations can understand what’s happening moment to moment in cross-enterprise projects; for example, seeing what’s been requested, who it’s been assigned to, who made a mistake, and how to correct it. 

Productivity

Instead of manually entering data and printing and scanning customer information, hyperautomation allows employees to spend more time on value-added activities.  It eliminates the manual interaction of emails between departments like HR and IT to ensure a better overall employee experience, as an example. And hyperautomation digitizes processes across departments to enable end-to-end automation processes like procure-to-pay. 

Where Hyperautomation Fits in Top Industries 

Hyperautomation is taking shape in various industries, helping organizations improve business operations on a bigger scale than ever before. Several examples follow:

Banking

Hyperautomation can help banks in a multitude of ways, including regulatory compliance, marketing, sales, and distribution, customer service, payments, loans, and back-office operations. RPA manages lower-level tasks so that teams can improve strategic decision-making and advisory services, identify risks and opportunities, and conduct live reporting of data. Intelligent character recognition, for example, allows banks to improve their “Know Your Customer” (KYC) processes and compliance, transferring manually written customer information into electronic versions for faster analysis and action. Hyperautomation saves time, money, and human intervention.

Healthcare

Hyperautomation can create intelligent billing processes by collecting and consolidating billing details from various departments without human intervention. AI and RPA identify medical policy coverage and conditions, for example, and intelligent chatbots can support and automate bill submissions. ML-enabled voice recognition enables the transcription of speech into text, handling thousands of cases at a time. The end result of all of these hyperautomation processes is the improvement of back-office and customer-facing operations that enhances the overall customer experience and grows operational efficiencies. 

Call Centers and Customer Service

Another real-world example is the use of RPA and AI in call centers to automate manual processes like mouse clicks and application launches to help agents pull information about a client from multiple systems quickly. When a customer calls an agent, the agent can see a more complete customer profile without having to keep switching from one app or screen to another. These activities can be extended to other service-related functions such as CRM, package tracking, and project automation. 

Conclusion: Automate Everything You Can

The bottom line with hyperautomation is that anything that can be automated should be automated. When you combine such advanced intelligent tools as AI, AI and Machine Learning, RPA, and NLP, the sky's the limit with how much benefit your company can derive. Hyperautomation ensures that every intelligent tool is being optimized to provide the greatest business benefit across the broader organization. 

In today’s global and digital world, companies across all industries must be ready to make rapid changes and innovate to stay competitive. Simplilearn’s Post Graduate Program in Digital Transformation, in partnership with Purdue University, is perfect for professionals who are looking to drive strategic initiatives and lead their respective organization to success. Check it out today!