Companies are always searching for new ways to increase revenue and advance beyond the competition. So, it’s no surprise that when a new technology emerges, it often starts to trend across the business industry.
This past year, one major trend across businesses has been robotic process automation (RPA), a type of automation software that streamlines business processes to reduce errors and increase company-wide productivity.
While RPA has been successful in upgrading many companies, it can only automate individual, assigned processes that follow a routine structure.
By combining RPA with other advanced digital technologies, new technology was created that can independently automate every aspect of a semi-structured business process: hyperautomation.
Hyperautomation is an emerging technology that will change the way companies use automation in their business processes. This technology is the next upgrade to advance your business beyond competitors and increase company-wide revenue, and here’s why.
What Is Hyperautomation?
Let’s begin by answering the question you’re probably asking: what is hyperautomation?
Hyperautomation is a technology that combines machine learning (ML) and neural networks with semi-structured RPA software. These technologies are then enhanced with the implementation of data analytics and process mining to create a systematic automation software that can function independently from human intervention.
In layman’s terms: hyperautomation is essentially a digital worker that is made up of a combination of different algorithmic technologies. These technologies work simultaneously to complete digital tasks that your employees would otherwise have to do manually.
The digital worker can be taught to mimic actions and over time, with cognitive processing, find better, more efficient ways to complete tasks.
How Does Hyperautomation Actually Work?
This technology exists as software on your computer. Similar to an app extension or other software, hyperautomation is downloaded and runs in the background and can be implemented on a single device or across an entire system within your company. It employs all aspects of the digital technologies involved to complete end-to-end processes.
Unlike other automation software that can only complete chunks of a business process, hyperautomation can complete tasks from beginning to end. It can even infer predictions based on the outcomes of the processes completed, resulting in updates to the process along the way to ensure peak efficiency.
This type of automation is able to work full-time, all of the time, with very minimal human intervention necessary.
How Can Hyperautomation Upgrade Your Business?
This technology can automate business processes from beginning to end, meaning it works beyond any other automation software that can only complete structured or semi-structured digital tasks. With this technology in place, your business can be upgraded in ways you never imagined possible.
More Efficient Processes
Hyperautomation can complete massive tasks like data transfer and data acquisition to better understand and meet customer needs. These types of tasks can be completed at an accelerated rate. Upon completion, hyperautomation technology will infer conclusions based on the results produced.
This means employees won’t be spending their time manually entering and looking through big data sets. Instead, they will be presented with an unbiased result, along with sets of suggested solutions and improvements to further employ.
The conclusions predicted by hyperautomation may not be exactly what your employees expect, but they can be valuable for evaluating data sets in new ways that employees might not have thought of before.
Not only will these big, data-centric projects be completed at a faster rate, but they will also be more accurate with the elimination of human error. Creating processes that are efficient and have virtually zero-error will help drive success rates and customer satisfaction levels up, resulting in increased revenue over time.
Reduced Risk
Working with sensitive data increases risk within any company. Sensitive data can range from employee records and information to customer files and billing statements.
This is information that is always at risk to a certain degree, but when available to employees, that risk increases. Employing technology that can reduce security risks is essential to keeping sensitive information safe.
Hyperautomation can reduce risk within companies by automating the transfer and movement of this information within a secured system. There will be no human interface with the data, so the likelihood that employees without clearance will see the data is diminished significantly.
Without the risk of human error or access from all employees, all of the data in the company will be more secure.
In case there ever is a question of data security in your company, hyperautomation can be set to log all data interactions, transfers, and management so that there is a record of proof that ensures your security standards.
This is not to say that you shouldn’t trust your employees with sensitive data, but by implementing hyperautomation, you are protecting yourself and your entire company from unnecessary risk.
Increased Productivity
With hyperautomation, employees won’t be worried about mundane, daunting projects that take up a significant portion of their day. Reducing the amount of data entry, transfer, and management that employees have to do every day will give them more time to focus on cognitive-centric tasks.
These are the thought-driven, creative projects that are most important to their job and the work that they usually enjoy doing the most.
With more time to focus on this cognitive work, employees can find themselves with reduced burnout and increased engagement: the formula for high productivity. Having employees that are engaged and productive increases the likelihood that your employee retention rates increase.
High employee retention rates ultimately mean you have satisfied, accomplished employees at your company, creating a culture that attracts new employees like them.
Hyperautomation makes it possible to reduce the repetitive, mundane tasks that employees hate. Scaling this automation technology company-wide means that the majority of your workers will be better adept for their jobs. The better your employees are at their craft, the more likely you are to start reaching and surpassing important goals.
As your business continues to grow and compete in your industry, it’s important to take the necessary steps to help you become an industry leader. Upgrading your business with the help of hyperautomation can get you to the forefront, ahead of your competitors.
With productivity, engagement, efficiency, and security all performing at their highest, it’s likely that your company will see real results and start exceeding goals throughout the future.