Using Hyperautomation To Boost Customer Satisfaction
Hyper-automation can be seen as a potential threat to employees, as it drastically reduces redundant manual work. Nevertheless, companies must consider.
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Key takeaways
- Hyper-automation can be seen as a potential threat to employees, as it drastically reduces redundant manual work.
- Hyperautomation gives employees more time to focus on what adds value to their business.
- Taking these key points into account will allow companies to embark on their hyper-automation process while maintaining the involvement of management and employees and remaining focused on their objectives.
Hyper-automation can be seen as a potential threat to employees, as it drastically reduces redundant manual work. Nevertheless, companies must consider the plethora of possibilities it opens that could raise employees’ working levels. In addition, organizations need to understand that hyper-automation merges technologically advanced tools to create an environment that empowers employees to use the best approach to problem-solving.
Organizations have slowly realized that hyper-automation can be used for more than operational efficiency. Instead, it promotes digital transformation by using intelligent process automation (IPA), a set of advanced technologies that automate, optimize and integrate digital processes to make systems more efficient. IPA solutions open a world of automation possibilities for even the most complex businesses.
The first observation is that deploying these solutions cannot be envisaged without careful consideration of the company’s information system and business applications; as a result, integration, connectors, and APIs have become essential.
The second is that the processing of interactions can no longer rely exclusively on agents and remote advisers, who indeed form a precious resource but which are not economically scalable to infinity. Instead, companies have understood that they need to find additional tools to optimize the routing of incoming flows, reserve the added value of human agents for the most complex tasks, and automate the most superficial and recurring exchanges.
Hyperautomation in the Technology Roadmap of Organizations #
Strategy: A global survey of 600 CIOs and IT decision-makers shows that demand for automation has surged in nearly every business. According to a recent Salesforce and Manson Bourne study, demand for automation has exploded across industries. Still, legacy architectures are slowing progress, and 80% of businesses are concerned about supporting automation programs.
Real technological revolutions are easy to spot because they are also economic revolutions. Hyper-automation, which combines humans with AI and RPA robots to increase the speed and precision of work, is one such revolution.
It unlocks entirely new business models and generates economic and social changes that will go beyond what we can currently imagine.
A Hyper-craze #
From the steam engine to the silicon microchip, new business models arise whenever incremental changes are made to reduce the cost of production by ten or more. The lighting of homes with oil, to whales killed on the other side of the planet only stopped when the trains were able to deliver cheap oil from Pennsylvania. And as energy prices fell, entirely new cities and industries sprang up across the country, driving profound economic changes that contributed to social progress.
COVID-19 has tested the idea of hyper-automation, that is, full automation at high speed. As a result, we have already seen considerable changes in the models, methods, and tools we work with. Moreover, this change is here to stay: by 2030, we should expect the manual, paper-based business processes left behind to be as anachronistic as fax machines and Rolodexes.
The Cost of Paper #
To improve the customer experience radically, you must find your own automation goals to multiply your results by ten or a hundred.
The “paperless office” is a decades-old promise that left most businesses with an unfortunate legacy of millions of error-prone PDFs, spreadsheets, Word documents, and OCR workflows. The result is that most companies are still drowning in paper. Even though it is “digital” paper, it is still a mass of unstructured data that is difficult to work with.
Scanning documents using OCR tools can be expensive (forecasts say this industry will be worth $12.6 billion by 2025) and involves a significant human intervention to set up and correct errors every time a form changes.
In this case, you need to consider the price per page, factoring in software costs, human costs, and time spent fixing errors in terms of lost productivity. For example, if you need to update 200,000 old contracts with the new LIBOR [London Interbank Offer Rate] rates and each contract is over 80 pages, your price per page is the time it takes for attorneys and clerks to process clear approximately 26,000,000 contracts per page. You are using OCR tools and any workflow technology at your disposal if a human needs 10 minutes to find and correct an error where every percentage of error you can reduce represents millions of dollars in savings.
To solve the same problem, hyper-automation uses low-code integration and robotic process automation (RPA) to integrate documents from varied sources into the same workflow.
The Platform Advantage #
Hyper-automation can be achieved in different ways, but using a low-code automation platform has three significant advantages:
- Overcoming the shortage of skilled IT professionals.
- Ensuring the sustainability of your investments in hyper-automation.
- Building resilience in your systems and processes to deal with future crises.
Using a low-code automation platform to build mission-critical applications and automation allows you to increase the productivity of your qualified developers. Technologies related to hyper-automation allow companies to automate specific routine, repetitive and complex tasks usually performed by humans.
Hyperautomation gives employees more time to focus on what adds value to their business. By combining hyper-automation with a human touch, it is possible to improve the customer experience while reducing operational costs.
Hyperautomation can be used in many industries, such as finance, manufacturing, telecommunications, or running a professional services firm.
Hyper-automation is an emerging trend that combines artificial intelligence, robotic process automation, and data science to optimize business processes and allow employees to focus on high-value tasks.
For several years, hyper-automation has been one of the leading technological trends. according to Gartner, “by 2025, the market for software that supports hyper-automation will reach nearly $860 billion.” However, faced with the challenge of implementing a hyper-automation strategy, many companies are reluctant to take the plunge.
The Prerequisites of Hyper-automation #
The implementation of a hyper-automation strategy has a substantial impact on the entire company. To go beyond local automation initiatives, the design must be thought out in a cross-functional and global way.
To do this, the hyper-automation approach must be based on solid sponsorship within the company. In addition, all stakeholders must know the opportunities and challenges accompanying such an approach.
The objectives may relate to reducing costs, for example, by automating supervision tasks and managing the IS infrastructure, or improving the customer experience, by setting up an automatic management system. Common and repetitive customer requests.
The definition of concrete objectives, which are then explicitly broken down for each automation project, makes it easier to measure the ROI of the projects and to maintain the commitment of the stakeholders.
Once the objectives have been defined, choosing the first use case is a significant decision. A use case with high added value, which can be carried out quickly, will prove the interest of the approach.
A final aspect that is also important before embarking on its adventure in hyper-automation: is the technological aspect. It matches the chosen hyper-automation solution with the company’s current technology environment.
It is vital to assess the compatibility of the technologies already present in the company with the chosen hyper-automation solution. Hyper-automation projects requiring redesigning several applications or using experts on technologies unknown to the company can jeopardize the entire process.
To limit the risks, the projects must be carried out with a view to compliance and safety “by design.” The redefinition of a process at the end of the project to meet regulatory constraints or the redesign of an architecture necessary to overcome security flaws would have a significant impact on the ROI of the project and the success of the approach.
In this context, continuous integration processes and rigorous tests guarantee the achievement’s quality. Furthermore, as the automation process progresses, automated processes can quickly become complex, and it is essential to ensure the quality and swift operation of the techniques on an ongoing basis.
In addition, change management will also be a vital element of the process. The automation of business processes arouses the mistrust of some employees, fearing to be replaced. Therefore, support, through communication on objectives and opportunities, as well as an appropriate training plan, is essential.
Hyper-automation is considered one of the biggest priorities for any CFO, as it reduces operational costs and increases efficiency. according to Gartner, operating costs will decrease by 30% in the future thanks to hyper-automation.
Hyper-automation combines advanced technologies to add more value to organizations that aim for business process innovation and more opportunity. It is rapidly changing from an option to a condition of survival, forcing organizations to adapt to the changing landscape. Furthermore, given the pandemic, hyper-automation could be crucial in reducing business risk. With these significant benefits, hyper-automation is seen as the next breakthrough to provide organizations with increased efficiency, functionality, and growth.
Finally, as reliable as hyper-automation technologies are, no solution is infallible. Critical processes must have a backup plan allowing them to be carried out in the event of system failure. Therefore, it is necessary to plan a crisis and process a recovery plan.
It is also essential to regularly monitor the supervision processes’ functioning and update previously automated processes. Taking these key points into account will allow companies to embark on their hyper-automation process while maintaining the involvement of management and employees and remaining focused on their objectives.
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