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Entrepreneurs
HYPERAUTOMATION AND WHAT IT MEANS FOR YOUR BUSINESS
YEC
COUNCIL POST
Expertise from Forbes Councils members, operated under license. Opinions
expressed are those of the author.
| Membership (fee-based)
Oct 22, 2020,07:20am EDT|
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By Riccardo Conte, serial entrepreneur and founder of Virtus Flow, a no-code
digital process automation platform that streamlines work through process
automation.
Getty
Hyperautomation is a concept introduced by Gartner. However, the idea behind it
has been in practice by companies leading the digital transformation race for
some time. Forrester refers to it as digital process automation (DPA). Gartner
identified it as one of the 10 trends of 2020 and predicted that adopting these
technologies will reduce as much as 69% of the manager's workload by 2024.
What Is Hyperautomation?
Hyperautomation is no more than the combination of different technologies to
undertake end-to-end automation of an organization’s processes under a unified
and intelligent system. It is the application of technologies such as robotic
process automation (RPA), intelligent business process management (IBPM),
machine learning and artificial intelligence (AI) to streamline and orchestrate
as many tasks, activities and processes as possible. Hyperautomation is adopting
automation technologies as a synergy of powers or capacities instead of adopting
only one. It relies on data to autonomously offer input on the best decision to
make.
Hyperautomation looks to augment workers’ abilities to reduce operating costs
and errors. It seeks to accomplish digital transformation to its full potential
to increase organizational agility and eliminate silos. With machine learning,
hyperautomation enables organizations to learn from the processes themselves. It
determines, for example, which route is the most efficient and which steps can
be eliminated. It goes beyond the simple use of RPA to reproduce human tasks. It
fixes the gaps left by RPA and allows organizations to automate even complex
processes where human input was previously needed. This new approach has changed
the scope of automation from individual tasks to knowledge work that drives
better business outcomes.
Which Technologies Does Hyperautomation Use?
Although it uses a complementary range of technologies, hyperautomation has two
key components: RPA to connect legacy systems and IBPM to manage long-running
processes.
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• RPA is the use of computer software to reproduce tasks, activities or
processes that are repetitive and rule-based, such as data entry, payment
reconciliation and data sharing. It's also used to get two or more software
platforms to talk or exchange information. Its use is limited to single tasks or
short processes that have been established or defined, usually where humans are
not required to intervene.
• IBPM combines business process management (BPM) and complementary technologies
such as AI to help businesses dynamically automate processes from end to end,
such as an onboarding process where data needs to be collected, shared and
stored and following steps are triggered automatically. IBPM allows for
automation of workflows instead of single tasks.
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Hyperautomation Complementary Technologies
• Machine learning is the application of AI to allow the software to
autonomously learn and improve without the need for programming. It aims at the
autonomy of the system to access data, learning automatically from observing the
way data moves. For example, machine learning can allow the software to identify
activities where value is being created and those where it is not. It can
provide data-backed validation to eliminate operational efficiencies.
• AI is the ability of a computer or software to reproduce an activity that is
usually done by a human because it requires human intelligence or discernment,
such as learning, planning, recognizing speech and solving problems. AI looks to
perfect the capacity of these systems to work and think like humans.
Benefits Of Hyperautomation
Hyperautomation facilitates the connection between various business applications
and operations with structured and unstructured data. It simplifies data
analysis and process discovery as well as new automation opportunities. It
empowers organizations to make informed decisions based on data gathered and
analyzed by the automation systems. It directly shows which decision should be
made. It complements human intelligence for better business decisions. Here are
some concrete benefits:
• Erasing deficiencies and gaps: Businesses are no longer restricted by the
limitations of one technology. They can now digitize and automate full lines of
business processes and others that have a complete organizational reach. Instead
of streamlining payment reconciliation, for example, the business can automate
the entire process — from the moment a customer asks for a quote to the moment
it’s fulfilled — and retrieve data to understand inefficiencies.
• Integrations: Hyperautomation simplifies data sharing across multiple apps
that business lines and areas use. It facilitates smoother and quicker data
access. For example, if the organization is using a human resources app to
manage salary payments, now it can connect it to other apps that help manage
other processes, such as employee hiring and onboarding. HR can have a better
and quicker picture of the entire department's work.
• Real time (for real!): Hyperautomation allows organizations to understand, in
real time, what is happening. Managers can have immediate information regarding
the number of open requests, those that haven’t been assigned, status, who is
working on a project, what’s missing and who made a mistake, for example.
Problems are easier to solve, and faster decisions can be made. Businesses can
respond to customers’ requests sooner and have full access to what’s going on
with their requests.
• Productivity: This is probably one of the most significant advantages of
hyperautomation. Employees’ capabilities are potentiated and complemented. Staff
can spend time on value-adding activities such as developing closer
relationships with clients. No more data entering. No more printing and
scanning. Instead, hyperautomation allows for digital signatures and automatic
storage by profile or project. No more calling and back-and-forth emails between
HR and IT to set tools and desks for employees’ first day. No more guessing, but
data-based decisions.
• The best of human intelligence: We love the idea of a self-piloted system, but
we like the driving experience. The same goes for hyperautomation. We want to
get rid of inefficiencies, but we want to hold the helm strong. The first step
is to understand that a machine needs a lot of data to become accurate, and this
gives us an idea that in the short term, human decisions are always better. But
we can use these new technologies to gather a huge amount of data to make better
data-driven decisions. It is the best of the two worlds.
YEC
Young Entrepreneur Council (YEC) is an invitation-only, fee-based organization
comprised of the world's most successful entrepreneurs 45 and younger. YEC
members... Read More
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