As you already know, hyper-automation, digital process automation or intelligent process automation, is the discipline that combines different technologies with optimisation, prediction and automation capabilities based on AI, to facilitate the digitisation of business processes seeking maximum efficiency and profitability.
Its technological ecosystem is formed by technologies that cover:
- end-to-end process orchestration through BPM (Business Process Management) tools,
- Process Mining,
- intelligent decision-making using Digital Decisioning tools, BRMS (Business Rules Management Systems),
- obtaining value from data through analytical techniques and AI (Machine Learning, Natural Language Processing or Best Next Action among others),
- document capture and processing with OCR (Optical Character Recognition),
- the automation of repetitive and low-value tasks through RPA (Robotic Process Automation),
- storage and management of the organisation’s content with ECM (Enterprise Content Management) tools.
Implementing Hyperautomation in companies
The implementation of this technology allows companies to improve employee productivity, customer experience, visibility and operational efficiency. But in order to achieve the expected success on the road to hyper-automation, a good roadmap must be drawn up based on the actual level of digitisation at which the company is currently operating.
Our proposal is based on the 4-step technological maturity scale model, placing the organisation at the level most in line with its current context (both in terms of its processes and the technologies used in their implementation).
From this starting point, we define the personalised roadmap to climb the steps, designing and providing the most appropriate tailor-made solution to take each step in an evolutionary way.
Do you know where your company is and if it is ready to apply hyper-automation?
Hyper-automation according to the sector of activity
Let’s look at how companies are implementing hyper-automation in different business sectors:
Supply chain (production and logistics operations) 🏭🚛
Many processes can be automated within the supply chain, from the administrative area to production and logistics operations. According to Cyborg Consulting, supply chains can reduce service costs by up to 60% and time by up to 80% by applying hyper-automation. In addition, they can increase the percentage of SLA compliance from 60% to 100%.
On the administrative side, hyper-automation can help for example in the generation of invoices, supplier management, the creation of purchase orders, the review of contracts, etc. And on the more operational side, in the streamlining of the production process and the proper handling of the data required for the manufacture of a product, the planning and management of business resources such as raw materials or the fleet, the tracking of shipments, etc.
Banking and finance 💳
In the last five years, Trycore has detected significant progress in the banking and finance sector with a 51% increase in the use of process automation and robotisation. Application cases range from large-scale banking operations or retail/mortgage lending to processes related to wealth management, risk compliance and auditing, or debt collection, among many others.
For example, more and more banks and financial institutions are turning to marketing automation to reach customers across a wider range of channels. In fact, 80% of sales teams in these types of companies report that automation platforms produce approximately 451% more qualified information.
According to Cyborg Consulting, 43% of retail executives automate processes to reduce operating costs and increase efficiency in areas such as stock control, supplier management, employee management and order control. By applying hyper-automation, reports can be generated automatically, certifications can be verified, records can be notified, analyses can be carried out, employees can be hired and fired, etc.
In the insurance sector, companies can apply this technology in the commercial area, the underwriting and policy issuance process, the claims handling process, the regulatory compliance area, etc.
Hyper-automation greatly reduces the typically long, tedious, slow and inefficient processes of insurers, saving employee time and reducing customer response times. For example, almost 80% of an employee’s working day in the commercial underwriting area consists of reviewing and completing forms and information on customers and assets to be insured. Intelligent automation can free up to 30% of an employee’s time spent retrieving and analysing that information.
47% of energy and utility executives have reduced costs more than they expected through process automation, according to Cyborg Consulting.
These companies can apply hyper-automation to secure critical infrastructure, effectively manage claims, perform financial analysis, generate deliverables, reports and reports, manage invoices, purchase orders, and more.
Are you interested in starting on the road to hyper-automation?