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How Hyperautomation Reduces Costs and Increases Agility

Parvathy S. Nair

Aug 16 2023
How Hyperautomation Reduces Costs and Increases Agility

Understanding Hyperautomation

Gartner defines hyperautomation as “the orchestrated use of multiple technologies, tools or platforms, including artificial intelligence (AI), machine learning, event-driven software architecture, robotic process automation (RPA), business process management (BPM) and intelligent business process management suites (iBPMS), integration platform as a service (iPaaS), low-code/no-code tools, packaged software, and other types of decision, process, and task automation tools.” This comprehensive definition encapsulates the vast landscape of technologies that together constitute hyperautomation. It’s not just about automating tasks; it’s about orchestrating a symphony of innovations to elevate business operations to unprecedented levels of efficiency and adaptability.

In today’s competitive landscape, organizations are driven to seek out every possible avenue for optimization. Hyperautomation has emerged as a business-driven, disciplined approach that empowers organizations to rapidly identify, evaluate, and automate a multitude of both business and IT processes. It’s a strategic imperative that harnesses the capabilities of AI, machine learning, RPA, BPM, and more to pave the way for a new era of operational excellence.

However, hyperautomation is far more than the sum of its parts. It goes beyond usual automation by combining various advanced technologies. It’s the merging of AI’s thinking abilities, machine learning’s continuous learning, RPA’s rule-driven automation, and BPM’s process improvement. This combination creates teamwork that speeds up tasks and adds smartness and flexibility to them.

For a more comprehensive understanding of hyperautomation, do browse our existing content, where we discuss its use cases in the banking, insurance, healthcare, and even education sectors. 

So with that said, join us as we dive into how hyperautomation redefines automation and propels businesses forward by reducing costs and increasing agility.

Related article: A Practical Guide to Implementing Hyperautomation Into Your Enterprise

The Impact on Cost Reduction

Numerous studies have shown us that companies often find themselves weighed down by the accumulation of organizational costs, spanning data storage, security measures, and workforce expenses. Aligning a mix of technologies to support these operations is quite challenging, and consolidating these different components feels hard to achieve. A practical way to handle this growing organizational debt is by automating and coordinating tasks across different parts of the company. Intelligent automation, which uses a mix of technologies and digital workers, becomes a powerful solution. These elements work together to speed up processes and boost revenue, helping companies bring down their debt to a more manageable level. This leads to better cost-efficiency and long-term growth. We’ll go into the specifics below.

Efficiency and Productivity

Hyperautomation uses advanced tech to simplify complex tasks, learn, and speed up processes. This saves resources, cuts costs, and boosts efficiency. Consider a healthcare context: by automating tasks such as data entry and retrieval, hyperautomation minimizes the resources dedicated to these processes, leading to cost reduction. This efficiency boost allows healthcare providers to allocate more time and resources to patient care.

Minimized Errors and Rework

Hyperautomation, through its fusion of AI and machine learning, leads to a substantial decrease in human errors within processes. This collaboration of technologies ensures heightened accuracy, sidestepping the financial implications of mistakes. Real-world instances underscore how this error reduction bolsters operational efficiency and eliminates the necessity for costly rework and corrections, resulting in significant cost savings.

An example from the automotive sector – By implementing hyperautomation, AI-powered cameras and sensors can monitor assembly processes in real time. These technologies can detect even the smallest deviations from the required specifications, such as incorrect torque values or misaligned components. When such deviations are identified, the system can immediately halt the production line, preventing the production of flawed vehicles. The result? A significant reduction in errors and defects leads to higher-quality vehicles and fewer recalls. Not only does this enhance the brand’s reputation for reliability, but it also saves substantial costs that would otherwise be spent on rework, repairs, and potential legal liabilities associated with defective vehicles. 

Also read: Hyperautomation’s Role in Insurance: Importance, Benefits, and Use Cases

The Enhancement of Agility

Faster Decision-Making

Making well-informed decisions can mean the difference between success and missed opportunities. Hyperautomation equips businesses with real-time data insights, providing decision-makers with a comprehensive and current understanding of their operations. By effortlessly aggregating and analyzing data from various sources, hyperautomation accelerates the decision-making process. This newfound agility in decision-making enables organizations to seize opportunities promptly, respond to market changes effectively, and stay ahead of the competition.

Rapid Process Adaptation

Adaptability is a hallmark of resilient organizations. Hyperautomation empowers businesses to adapt processes to changing conditions swiftly, ensuring they remain effective and aligned with strategic goals. With the ability to seamlessly reconfigure workflows and incorporate feedback-driven improvements, hyperautomation guarantees that processes evolve in lockstep with the dynamic business landscape. Whether it’s responding to shifting customer demands or integrating new market trends, hyperautomation provides the necessary agility to stay relevant and thrive in a fast-paced world.

Improved Customer Experience

Customer expectations continue to evolve, demanding personalized experiences and swift responsiveness. Hyperautomation plays a pivotal role in meeting these demands by enhancing the customer experience across touchpoints. Through AI-driven chatbots, predictive analytics, and dynamic process adjustments, hyperautomation enables businesses to offer tailored solutions and proactive assistance. This translates to quicker query resolutions, personalized recommendations, and seamless interactions, all of which elevate customer satisfaction and foster lasting loyalty!

Also read: Hyperautomation in Healthcare: Use Cases, Benefits, and Solutions

Implementing Hyperautomation Strategically

As organizations recognize the transformative potential of hyperautomation, it becomes key to implement it to unlock the full benefits effectively.

Identifying Processes for Hyperautomation

The first step in harnessing hyperautomation’s power is identifying the right processes to automate. Not all processes are created equal, and selecting the ones that offer the highest return on investment is crucial. Complex, repetitive, and rule-based tasks often stand out as prime candidates for hyperautomation. By conducting a comprehensive assessment, businesses can prioritize processes that are resource-intensive and prone to errors. This strategic approach ensures that the integration of hyperautomation yields maximum efficiency gains and cost savings.

Developing a Hyperautomation Roadmap

Implementing hyperautomation isn’t a one-size-fits-all endeavor; it requires a structured approach. Developing a hyperautomation roadmap involves crafting a step-by-step plan that outlines the processes to be automated, the technologies to be deployed, and the expected timeline. This roadmap acts as a guiding compass, ensuring that hyperautomation initiatives align with overarching business goals. Moreover, it enables organizations to start small with pilot projects, learn from these experiences, and gradually scale up. By incorporating feedback loops and constant evaluation, businesses can fine-tune their hyperautomation strategy for optimal outcomes. 

Having trouble identifying which workflows could benefit from hyperautomation? Reach out to Autonom8 today and simplify your workflows. Ask for a free demo today.

Also read: Hyperautomation in Banking Sector: Use Cases, Benefits, and Solutions

FAQs on how hyperautomation reduces costs

What exactly is hyperautomation, and how does it differ from traditional automation?

Hyperautomation is an advanced form of automation that combines various technologies like AI, machine learning, and RPA. Unlike traditional automation, which focuses on specific tasks, hyperautomation integrates multiple technologies to transform entire processes, making them smarter and more adaptable.

How does hyperautomation contribute to cost reduction?

Hyperautomation reduces costs by streamlining tasks, minimizing errors, and optimizing resource allocation. This leads to increased efficiency, decreased labor expenses, and reduced rework or rectification costs, resulting in overall savings for businesses.

What are some real-world examples of organizations that have benefited from hyperautomation's agility?

Organizations like banks, insurance companies, and healthcare providers have leveraged hyperautomation for agility. Banks use it for faster customer onboarding, insurers for quicker claims processing, and healthcare providers for efficient patient record management. These examples showcase how hyperautomation enhances agility in different sectors.

What are the challenges organizations might face when adopting hyperautomation?

Integration complexity, workforce reskilling, and security concerns are common challenges. Integrating various technologies, ensuring employees are skilled to work with automation, and maintaining data security can pose hurdles during adoption.

How can businesses strategically implement hyperautomation to maximize benefits?

To maximize benefits, businesses should start by identifying processes suitable for hyperautomation based on complexity and potential ROI. Developing a clear roadmap, beginning with pilot projects, and measuring success using key performance indicators (KPIs) are essential steps. Regularly evaluating and adjusting the strategy ensures optimal results.