As you already know, hyper-automation, automation of digital processes, or intelligent automation of processes, is the discipline that combines different technologies with optimization, prediction, and automation capabilities based on AI, to facilitate the digitalization of business processes seeking maximum efficiency and profitability.
Its technological ecosystem is made up of technologies that cover:
- The orchestration of end-to-end processes through BPM (Business Process Management) tools,
- Process mining or Process Mining,
- Intelligent decision-making using Digital Decisioning tools, BRMS (Business Rules Management Systems),
- Obtaining the value of the data through analytical techniques and AI (Machine Learning, Natural Language Processing, or Best Next Action, among others),
- Capturing and processing documents with OCR (Optical Character Recognition),
- The automation of repetitive and low-value tasks through RPA (Robotic Process Automation),
- Storage and management of the organization’s content with ECM (Enterprise Content Management) tools.
Implementing hyper-automation in companies
Implementing this technology allows companies to improve the productivity of their employees and the customer experience and increase visibility and operational efficiency. But to obtain the expected success on the road to hyper-automation, a good roadmap must be in place that starts from the fundamental level of digitization in which the company.
Our proposal is based on the technological maturity scale model in 4 steps, placing the organization at the level most in line with its current context (its processes and the technologies used in its implementation).
From this initial point, the personalized roadmap is defined to go up the steps, designing and providing the most appropriate customized solution to take each step evolutionarily.
Do you know where your company is and if it is ready to apply hyper-automation?
Hyper Automation, according to the activity sector
Let’s see 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 consultancy, 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 compliance with SLAs from 60% to 100%.
In the most administrative part, hyper-automation can help, for example, in the generation of invoices, managing suppliers, creating purchase orders, reviewing contracts, etc. And in the most active part, in the streamlining of the production process and the good management 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 process automation and robotization. Application cases range from large-scale banking or retail/mortgage lending to processes related to wealth management, risk compliance, auditing, or debt collection, among many others.
For example, more and more banks and financial institutions are turning to the automation of marketing operations to reach customers in more channels. 80% of the commercial teams of these types of companies report that automation platforms produce approximately 451% more qualified information.
Accordingly, 43% of executives in the retail industry automate processes to reduce operating costs and increase efficiency in areas such as stock control, supplier management, employee management, or order control. By applying hyper-automation, reports can be generated automatically, verification of certifications, notification of records, analysis, management of employee registrations and terminations, etc.
In the insurance sector, entities can apply this technology in the commercial area, the policy subscription and issuance process, the claims processing process, the regulatory compliance area, etc.
Hyper-automation greatly reduces the typical long, tedious, slow, and inefficient processes of insurance companies, saving time for employees and reducing customer response times. For example, almost 80% of the workday of employees in the underwriting business consists of reviewing and completing forms and information on clients and assets to be insured. Intelligent automation can free up to 30% of an employee’s time retrieving and analyzing that information.
47% of managers of energy and utility companies have reduced costs more than expected thanks to 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, etc.