Since the emergence of the pandemic and Covid-19 implications, technologies have immensely transformed the way businesses operate and offered their services. Among all the strategic and technological approaches, “Hyperautomation” is one of the approaches that has gained a lot of traction from technology leaders.
As per Research and Market reports, the global hyperautomation market is expected to grow by USD 26.0 billion in 2027. These statistics clearly show the hyperautomation growth and its impact on business leaders. But is it that simple? Automation is simple to understand and easy to justify, but when it comes to execution, it’s complex and tough, especially if you don’t have the right strategy. Quite often, the biggest challenge in the embracing automation journey is the right set of use cases and aligning them with the right solutions.
However, many leaders believed that they found their tool for digital transformation in RPA. But, RPA is not hyperautomation and also hyperautomation is not a technology and strategic approach that is a combination of RPA and some AI technologies like Machine Learning, NLP, and others. So what is Hyperautomation?
What is Hyperautomation?
As it’s clear that Hyperautomation is not a technology, Hyperautomation is a business-driven approach that involves the orchestrated use of multiple tools, technologies and platforms.
Hyperautomation delivers a state that delivers an end-to-end, event-driven, intelligent and very well-integrated form of automation. That’s a lot of things, and you can deliver all of these with a single technology. For this reason, hyperautomation requires multiple orchestrations of technology tools and platforms. And to make this, you need to build a technology portfolio for the hyperautomation platform. These technologies could be RPA, AI/ML, Intelligent Document Processing, Business Process Automation, task mining, process discovery, Conversational AI and many others.
And to gain the most out of these technologies with minimal effort and gaining higher ROI, your organization requires an orchestration of these technologies. As per the Gartner survey, around 2 technologies, low code/no code and Business Process Automation, are used by IT leaders to enhance their business processes. So how do you choose the right portfolio for your organization? Here are three key steps to follow and build a technology portfolio for hyperautomation.
Align Your Business Goals
While embracing the automation journey, the first question that comes to mind is what value it would bring to use cases on which it is applied and what will be its impact on business. Aligning business goals is often complete in these stages such as.
Setting the Objectives
When it comes to aligning business goals for hyperautomation, three things that hold the utmost importance are- revenue, cost, and risk. Another important aspect is feasibility, which means what will be the complexity, scope and predictability of the outcome when new technology is introduced to the already deployed infrastructure. So to set the objectives right, determine the key outcomes and identify key metrics to measure those desired outcomes. Once you determine the outcomes, for example, if we say improved agility or higher ROI, prioritize your automation use cases accordingly that can help deliver these outcomes.
Discovering Automation Opportunities
To effectively discover and analyze automation opportunities, first align your use cases against three categories of automation that are-
- Task Automation
- Process Automation
Ask questions like are the process is simple and repetitive and involves daily tasks, whether they are complex and require a better technological approach or whether the data value is structured and unstructured. This helps in shooting down the automation opportunity all across the organization.
Identifying Technology that Brings Desired Outcome
Once an automation opportunity is discovered, the next step is to choose the technology that is the best fit for the business process. As each technology has a different role and characteristics hence, their capabilities are different as well. So select the technology that aligns with business goals and use cases.
Choosing the Right Set of Technology
When it comes to selecting the right set of technologies, it is not as simple as comparing one tool to another one. In fact, the enterprise should focus on determining the best combination of complementary technologies. To build a hyperautomation technology portfolio, organizations must prioritize the capabilities required for each hyperautomation initiative and then evaluate the product and technology features that optimally align with those requirements.
Build Your Technology Portfolio
Along with choosing technology that aligns with your business goals and objectives, it’s essential to keep these key considerations in mind while building the hyperautomation-
Time to Market Constraints
A trade-off between tactical and strategic value to establish the optimal equilibrium.
Total Cost of Ownership
Evaluate the TCO for a selected automation tool that justifies your overall budget. Evaluate your company’s ability to build, implement, and sustain automation using the chosen set of technologies.
Check whether your organization has the talent or opportunity to build support and maintain automation using the right set of technology.
Evaluate the platform and capabilities offered by the vendor and check whether the solutions align with your enterprise architecture.
Rising customer expectations and building a workplace experience require a strategic approach that goes beyond RPA. And hyperautomation is that disciplined approach that enables enterprises to go beyond RPA and offer customers what they expect. So are you ready to go on a hyper-drive with Hyperautomation? Reach out to us for a quick demo with our experts.