Hyperautomation, the phenomenon of optimization of organizational processes in companies

Each year, the consulting firm Gartner unveils the 10 technology trends that are most likely to impact businesses. Since 2020, hyperautomation is part of this ranking. But what is behind this new buzzword?

Automation is defined by companies as the willingness to use technology to automate as many tasks as possible. “Hyperautomation”, “digital process automation” or “intelligent process automation” are terms that take the concept even further. Indeed, thanks to the combination of more advanced technologies such as Artificial Intelligence (AI), Robotic Process Automation (RPA) and Machine Learning (ML), hyperautomation will allow to continuously analyze, process, measure, design and re-evaluate undocumented and structured data. The ultimate goal is to ensure a better harmonization of processes and to reduce repetitive tasks performed by humans.

Hyperautomation can be extended to many business processes. Within an organization, its implementation requires a total restructuring of the departments in which it operates (production, finance, etc.), which nevertheless generates significant costs. However, the benefits of this investment are numerous in the long term:

• Better execution of complex tasks: These new hyper-automated processes allow a considerable saving of time in the accomplishment of complex operations, which before relied solely on human knowledge and skills.
• A digital right hand: Hyperautomation does not aim to replace humans in their work, but rather to assist them in improving their performance. Indeed, the creation of an intelligent digital workforce allows for analysis and decision making. Ultimately, the main objective is to have a better global vision of automation opportunities in order to improve future organizational processes.
• Improved profitability: The implementation of end-to-end automation is an investment for a company, but in the long run it brings great business value. Better employee performance management coupled with improved process analysis and decision making have a naturally positive impact on organizations.

Hyperautomation aims to optimize all business processes with a holistic approach. From this observation, it is possible to say that all industries can use this strategy. Indeed, Automation Anywhere studies daily the benefits of hyperautomation in many fields:

• Insurance: Reducing costs and improving the customer experience by automating claims processing and administrative tasks, underwriting and eligibility, audit management, and decision making among others.
• Banking: Create a new era of financial services by automating customer service, claims processing, credit adjudication, and regulatory compliance, among others.
• Healthcare: Improve patient experience and compliance by automating operational analysis, data management, medical records, and claims processing, among others.
• Manufacturing: Optimize the most time-consuming processes by automating transportation and supply chain management, freight pricing, ERP processes, inventory management, and invoice verification, among others.
• Public Sector: Improving connectivity and performance through automation of human resources, financial processes and procurement among others.
• Life Sciences: Enabling innovation and operational agility by automating clinical trial data management, product safety issue tracking, pharmacovigilance and complaint management among others.

What about payment? This type of advanced automation can also be an integral part of the settlement process. Indeed, it is possible to integrate automated notification scenarios according to events observed in the merchant’s environment (payment failure, dunning failure…). With the CentralPay payment solution, the hyperautomation of payment-related processes makes it possible to send payment links or notifications according to payment or collection scenarios. In the end, this workflow of programmed API actions optimizes customer payments by reacting quickly to different events on the merchant platform with automated actions, without any human intervention.

The trend of hyperautomation appeared long before Covid-19. However, it is undeniable that the health crisis has spurred its development. In 2020, the Gartner report highlights the fact that the crisis “has motivated many companies to accelerate this approach within their operations, but not necessarily in a very effective way. […] Some companies have automated certain processes, but they still need to be linked together to create a coherent whole.”

Hyperautomation has brought the DTO (Data Transfer Object) to the forefront. Its role is to simplify and make visible the data transfers between the subsystems of an organization. End-to-end automation” is therefore useful for highlighting interaction flows between processes, functions and KPIs that were previously invisible.
This concept is therefore powerful, as it allows us to imagine the organizational processes of tomorrow. Indeed, thanks to the real-time observation of business value creation (or non-creation), companies are able to react and make decisions quickly, while facilitating the continuous identification of new potential opportunities. So this is just the beginning for hyperautomation…

The CentralPay payment solution helps you digitize or optimize your payment processes, to help you imagine tomorrow’s purchasing paths.