5 Key Business Benefits You Can Achieve Through Hyperautomation in 2024

Hyperautomation is an emerging approach to automation that businesses like yours are quickly adopting to drive digital transformation. But what exactly is hyperautomation, and what benefits can it provide for your business?

What is Hyperautomation?

Hyperautomation refers to the process of rapidly automating as many business and IT processes as possible using the latest cutting-edge technologies. It goes beyond traditional automation like RPA to automate entire workflows end-to-end.

Hyperautomation often leverages technologies like:

  • Robotic process automation (RPA)
  • Artificial intelligence (AI) and machine learning
  • Intelligent business process management suites (iBPMS)
  • Low-code/no-code development platforms
  • Process mining
  • Digital twin technology

The goal is to automate as much of the business as possible to improve efficiency, agility, insights and experiences.

Key Benefits You Can Achieve Through Hyperautomation

Here are 5 compelling benefits your business can realize through hyperautomation initiatives:

1. Dramatically Improved Productivity and Efficiency

One of the biggest potential benefits of hyperautomation is freeing up your employees from monotonous, repetitive tasks so they can focus on more rewarding, high-value work.

According to McKinsey, hyperautomation can reduce the time employees spend on repetitive tasks by over 90%. Just imagine how much more productive your team could be!

By using software robots, AI agents, and automated workflows to handle tedious, routine processes like data entry, documentation, reporting, and customer service inquiries, you can reduce the burden of repetitive work.

TaskEstimated Productivity Gain with Automation
Data Entry70%
Document Processing60-70%
Reporting & Analytics50-60%
Invoice Processing50-70%
Email Handling40-60%

According to Forrester, hyperautomation can improve employee productivity by 30-50%. That translates to a major competitive advantage for your business!

2. Significant Reduction in Operational Costs

By reducing repetitive human labor through automation and minimizing errors, hyperautomation drives down operational costs substantially. Intelligent process automation and AI require far less manual work across your business.

Hyperautomation also provides enhanced visibility into your processes through technologies like process mining, allowing you to continuously identify and eliminate inefficiencies. According to Gartner, this optimization can reduce costs by 30% or more.

For example, JP Morgan automated over 100,000 manual hours per year in their loan processing workflows, dramatically lowering costs.

3. Increased Agility and Improved Decision Making

Hyperautomation breaks down data and process silos across your organization by integrating disparate systems and data seamlessly. This gives you and your team a unified view of your business and access to real-time data.

With your systems and workflows intelligently automated and orchestrated, you gain increased agility to quickly adapt to changing business conditions. Hyperautomation also augments human decision making by providing AI-driven analytics, predictions, and recommendations.

For instance, automated insights can help you adjust pricing based on market demand, optimize your supply chain in real-time, or provide predictive maintenance recommendations for equipment. This enables data-driven decision making.

4. Democratization Through Low-Code Platforms

A key aspect of hyperautomation is the use of low-code platforms that enable non-technical employees to build simple automations, bots, dashboards, and custom applications themselves without deep coding skills.

By empowering your business users and "citizen developers" to automate workflows and access data through intuitive drag-and-drop interfaces, you can foster better collaboration across your organization and drive a culture of continuous improvement.

According to Gartner, low-code application development is growing by over 23% per year, enabling widespread hyperautomation.

5. Improved Customer and Employee Experiences

As a business leader, keeping both your customers and employees happy is essential. Hyperautomation can enhance experiences and satisfaction across the board.

Intelligently automating tasks like order processing, customer service and support enables your team to provide faster, more personalized service to customers. AI chatbots can offer 24/7 support.

For your employees, eliminating repetitive, mundane work allows them to focus on more meaningful and engaging responsibilities that take better advantage of their skills. Automation reduces boredom and burnout.

And by streamlining collaboration and providing real-time data access through hyperconnected systems, you foster a more motivated, empowered workforce. The result is greater employee retention and satisfaction.

Real-World Examples of Hyperautomation Benefits

To see the tangible benefits of hyperautomation, let‘s look at a few examples:

Company: TGI Fridays
Benefits: Using hyperautomation to optimize staff scheduling reduced labor costs by 10-15%

Company: Sentara Healthcare
Benefits: Automated processes like bed assignments and discharge workflows improved productivity by 60%

Company: Hitachi Vantara
Benefits: Automating order processing delivered over $4 million in cost savings

Company: Virgin Media
Benefits: An automated customer support system handles 1 million inquiries per quarter, improving customer satisfaction.

As you can see, businesses across many industries are achieving real ROI through hyperautomation initiatives. The key is finding the right processes and workflows within your own organization to automate in order to maximize benefits.

Getting Started With Hyperautomation

Hyperautomation may seem daunting, but breaking it down into manageable steps makes it very feasible:

  1. Identify processes and workflows that are ripe for automation. Look for repetitive, high volume tasks.
  2. Prioritize automations that will have the biggest business impact. Start small with pilots.
  3. Determine the right technologies to automate each process like RPA, AI, iBPMS, etc.
  4. Develop the skills and collect the data needed to implement automation.
  5. Continuously optimize your automated workflows over time.

With the right strategy and planning, hyperautomation can help your business execute faster, reduce costs substantially, and provide a better experience for employees and customers. The key benefits around efficiency, agility, decision making and democratization make hyperautomation a must-have initiative for forward-thinking businesses today.

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