What is Hyperautomation and Why is it Important?

As a technology strategist advising enterprise leaders on digital transformation, I‘ve seen firsthand how quickly software automation has disrupted traditional companies the past decade. Emerging capabilities in robotic process automation, artificial intelligence and machine learning have reached level of maturity allowing major improvements in efficiency, quality and competitiveness.

The convergence of these technologies have led to "hyperautomation" – where entire workflows can be optimized to minimize human involvement. This comprehensive guide will outline what exactly hyperautomation entails, where it can be applied, as well as tips for getting started.

What Exactly is Hyperautomation?

Hyperautomation refers to the sophisticated orchestration of multiple automation technologies to rapidly transform business operations end-to-end. Instead of focusing just on tasks, it takes a holistic process view across departments.

For example, a loan application at a bank would historically involve multiple manual steps:

  1. Client fills out paper application
  2. Loan officer reviews application, gathers documentation
  3. Underwriting team analyzes terms and credit history
  4. Senior management reviews for final approval
  5. Funds get transferred and booked

There are many repetitive information lookups and validations across those stages. Hyperautomation would digitize the entire workflow – from uploading an application via mobile phone, using RPA bots to collect documentation, leveraging AI algorithms for credit risk analysis, offering customized terms for management approval, through automated booking and wire transfer on disbursal.

The integrated automation eliminates human latency while applying intelligence to unlock hidden business potential.

According to leading research firm Gartner, the total global market for hyperautomation enabling software, services and tools will reach nearly $600 billion by 2022. They forecast an amazing 3X growth just over the next 3 years!

And looking just at RPA software, GrandView Research estimates automation adoption expanding at 24% CAGR to $17 billion by 2030. Spurred by competitiveness and staffing shortages, companies have strong motivation to pursue automation and AI initiatives.

The Key Pillars Underlying Hyperautomation

There are 5 key technology pillars that enable hyperautomation:

Robotic Process Automation (RPA) – prerecorded scripted bots that mimic user actions to handle repetitive screen manipulation tasks in the browser or desktop apps

Artificial Intelligence (AI) – using neural networks to train computer systems that emulate human-style pattern recognition and decision making for complex tasks like analyzing images, processing speech or making predictions

Machine Learning (ML) – advanced statistical modeling techniques that apply algorithms enabling applications to independently learn from raw data without explicit programming

Analytics – tools that process large datasets and generate visualizations to uncover insights driving improved planning and outcomes

Business Process Management (BPM) – approach centered on documenting procedures with modeling notations that can be translated into executable artifact and optimized over time

Hyperautomation key technologies

These 5 pillars work together to deliver an integrated automation capability that far outperforms the typical isolated deployment seen in earlier attempts:

Technology Example Focus Area Limitations Solved by Hyperautomation
RPA Automate repetitive tasks Brittle bots require frequent maintenance
AI Underwrite complex assets Narrow scope leaves gaps in processes
ML Personalize promotions Requires integration with core systems
Analytics Uncover usage trends Manual analysis still needed tying insights into operations
BPM Map processes for documentation Rigid frameworks lack flexibility to optimize

Whereas first generation standalone tools automated only fractions of entire business workflows, hyperautomation connects all underlying systems together for true transformation.

Streamlining Operations to Enable Digital Transformation

Many companies have had individual groups experimenting with emerging technologies like RPA or AI CHATBOTS to improve their functions. But these disjointed initiatives in pockets of the organizations very rarely translate into meaningful transformation.

The template I guide clients through involves:

  1. Catalog all processes, systems and stakeholders across the enterprise
  2. Identify biggest pain points amenable to automation based on volume, latency, accuracy
  3. Prioritize opportunities that will return demonstrable results tied to KPIs
  4. Prototype integrated automation spanning existing tools grafted seamlessly into workflows
  5. Establish metrics-driven governance model focused on expansion and continual improvement

Transformation requires empowering people to envision their department‘s future state, rather than merely bolting on automation into current ways of working. For example, leading retailers focused early RPA pilots on card payment processing – with small measured improvements. But companies excelling at digitization reimagined checkout itself using sensor fusion to enable grab-and-go shopping integrated with apps providing receipting and loyalty nudges.

Let me illustrate the before and after shot using a claims processing example:

Typical Manual Claims Journey

  1. Member mails paperwork that may be incomplete
  2. Processor logs claim which delays processing for 4 – 6 weeks
  3. Examiner reviews and attempts phone/mail follow-ups driving more latency
  4. Approver verifying complex rules leads to ~30% mispayments
  5. Finance cuts check or initiates transfer

Hyperautomated Claims Process

  1. Member uses mobile app to submit claim supported by e-documentation
  2. Automated bot reviews instantly, requests any missing evidence
  3. Parallel examiner review and recommendation
  4. Real-time decisioning engine cross-checks policies for approval
  5. Digitized payment disbursal through preferred channel

Transitioning from claims forms moved around by internal mail to integrated mobility apps, RPA-driven claims engines and straight-through processing typifies the transformation hyperautomation delivers.

10 Benefits Driving Competitive Advantage

The business case for enterprise-wide hyperautomation includes:

1. Improved Customer Experiences – Streamlining issue resolution and inquiries using CHATBOTS while applying natural language processing and sentiment analysis to understand needs

2. Greater Efficiency – Reducing latency and administrative costs through straight through transaction processing underpinned by automated validations

3. Enhanced Revenue – Applying machine learning algorithms to unlock new opportunities tailored to customer situation and needs

4. Higher Profitability – Optimizing operations by applying predictive data models while removing wasted efforts thereby boosting margins

As per leading Management Consulting firm McKinsey & Co, effective implementation of process automation reduces operational costs by 25 to 40 percent across industries. Further, typical IRR exceeds 30 percent with payback on automation investments within 6 to 9 months.

5. Consistency & Accuracy – Minimizing errors and variation in oversight or decisions using rules engines

6. Improved Compliance – Higher accountability, traceability and internal control by orchestrating digital systems assayed by analytics

7. Better Business Intelligence – Unified datasets combined with trend analysis and benchmarks to tune operations

8. Increased Agility – Faster iteration of systems functionality using low-code platforms to adapt to evolving needs

9. Enabling Innovation – Removing mundane tasks allows teams to focus on next-generation solutions and customer experiences

10. Future Proofing – Establishing scalable digital foundry for continual enhancement as technologies progress

Let me leave you with this closing thought. In working with Fortune 2000 leaders the last 20 years helping shape their digital evolution, I‘ve yet to see any innovation as profoundly disruptive as hyperautomation promises to be. It represents the genuine convergence of technologies needed to truly release human potential. The question isn‘t whether to pursue digitization anymore – but how quickly your organization can envision, then unlock, that better future.

I welcome the opportunity to offer tailored guidance, drawing from decades of experience modernizing global firms across dozens of industries. Please reach out to schedule a consultation where we can explore your automation goals and possibilities in more detail!