We have witnessed the rapid growth of automation in the workplace, where businesses seek to streamline their operations by automating repetitive and time-consuming tasks. However, as the complexity of business processes increases, traditional automation tools struggle to keep up with the pace of change, leading to the development of hyper-automation.
Hyper-automation has become a buzzword in recent years, with the market share projected to grow by $82.2 billion by 2028. That is a growth of 16.4% CAGR according to a 2023 PRNewswire report. This growth is not surprising as a Salesforce report predicts that at least 80% of organisations worldwide will adopt hyper-automation to optimise productivity and improve customer satisfaction.
The next evolution of automation, it integrates technologies such as artificial intelligence (AI), machine learning (ML), robotic process automation (RPA), and intelligent business process management suites (iBPMS) to create an end-to-end automation solution that transforms the way a business operates.
What is Hyper Automation?
Hyper automation combines various technologies to create a more comprehensive and interconnected automation system. It involves the use of AI and ML to enable intelligent decision-making and the automation of complex processes. This approach aims to automate as much of the business process as possible, from data capture to analysis, decision-making, and action.
Hyper automation incorporates RPA, a technology that uses software robots to perform repetitive and manual tasks. This includes tasks such as data entry, validation, report generation, and other tasks that require data manipulation. RPA can also interact with various systems and applications, automating tasks across multiple business processes.
Another key component is iBPMS. This technology provides a platform for automating and optimising business processes. It includes features such as process modelling, workflow automation, business rules management, and analytics. iBPMS is designed to be adaptable and scalable, making it an ideal tool for businesses that need to automate complex processes across multiple departments.
Benefits of Hyper Automation
Hyper automation offers several benefits for businesses seeking to automate their processes. These include:
Increased Efficiency and Productivity
Hyper automation can automate manual and repetitive tasks, reducing the time and effort required. This can improve efficiency and productivity and enable businesses to handle larger workloads without needing to hire additional staff.
Improved Accuracy and Consistency
Automation eliminates human error, reducing mistakes and improving accuracy and consistency. This can lead to better quality outputs and increased customer satisfaction.
Enhanced Customer Experience
It can enable businesses to offer a better customer experience by reducing response times and improving the quality of interactions. This can help increase customer satisfaction and loyalty.
Automation can help reduce costs associated with manual processes such as labour, training and errors. This can help businesses reduce costs, increase profitability and allocate resources more effectively.
Hyper automation can provide businesses with real-time insights into their processes, enabling them to identify and address inefficiencies, bottlenecks and other issues. This can help companies to make data-driven decisions and improve overall performance.
By automating repetitive tasks, businesses can free employees to focus on higher-value activities such as innovation and strategy. This can help companies to stay ahead of the competition and adapt to changing market conditions.
Automation can help businesses scale their operations quickly and efficiently without hiring additional staff. This can help companies to meet growing demand and respond to changes in the market.
Challenges of Hyper Automation
While hyper automation offers many benefits, it also presents several challenges businesses must overcome to implement it effectively. These challenges include:
Integrating various automation technologies can be complex and require significant effort. Businesses need to ensure that their systems are compatible and can communicate effectively.
It relies on accurate and consistent data, and businesses need to ensure that their data is clean and of high quality. This requires effective data management practices.
Governance and Control
Hyper automation can lead to a lack of control and oversight, leading to compliance and security issues. Businesses must establish governance and control mechanisms to ensure their automation systems are secure and compliant.
Automation can lead to job displacement and uncertainty among employees, leading to resistance and reluctance to adopt the new technology. Businesses need to address these concerns and provide training and support to their employees to ensure a smooth transition.
Implementing Hyper Automation
To successfully implement hyper automation, businesses need to follow a systematic approach.
Hyper Automation is the future of business processes, enabling businesses to automate complex tasks and improve efficiency and productivity. It combines various automation technologies, such as RPA, AI, ML, and iBPMS, to create an end-to-end automation solution that can transform the way businesses operate.
However, implementing it presents several challenges that businesses must overcome, such as integration, data management, governance and control, and employee resistance.
At COREMATIC, we are positioned to assist businesses with their journey to hyper automation with many projects under our belt already. By following a systematic approach, businesses can effectively implement hyper automation, providing significant benefits such as increased efficiency and productivity, improved accuracy and consistency, enhanced customer experience, cost savings, increased innovation and insights, and scaling operations.