Hyper automation is a state of art technological tool combines various technologies such as artificial intelligence (AI), machine learning (ML), robotic process automation (RPA), natural language processing (NLP), and more to automate and optimize business processes. All business processes are optimized on the basis of cost function which includes finance, turn around time and accuracy (reduction of errors) From computational theory, this can be achieved using using Monte-Carlo simulation techniques with cost function optimization. Generally, Hyper automation sit on top of Robotics Process Automation (RPA).
Some of major reasons to use hyper-automation to optimize their processes:
1. Increased efficiency: enables businesses to automate repetitive, laborious , manual tasks, freeing up valuable time for employees to focus more on domain, strategic and value-added work. By automating these tasks one can improve operational efficiency and productivity.
2. Cost reduction: Due to automation, the human intervention can be reduced significantly and hence increase the cost efficiency.
3. Enhanced accuracy and quality: Humans are prone to errors, but hyper-automation minimizes the risk of human error by executing tasks consistently and accurately. This leads to improved data accuracy, higher quality outputs, and reduced rework or corrective actions.
4. Accelerated processing time: The TAT which is becoming more and more critical day by day can be reduced without compromising on accuracy using the hyper-automation. This can lead to reduced processing times, quicker response rates, and faster overall cycle times, ultimately improving customer satisfaction.
5. Scalability and agility: Easy to adopt, scale and manage changes in the process to make more agile and compatible to meet the changing demands of the business.
6. Improved customer experience: Can be one the major criteria for implementation of hyper automation. By automating critical, complex and time consuming processes enhance customer experience by reducing TAT, streamlining customer interactions, and ensuring consistent service delivery.
7. Data-driven decision-making: Hyper-automation generates a wealth of data about business processes, enabling organizations to gain insights into performance metrics, bottlenecks, and areas for improvement. By leveraging this data, businesses can make data-driven decisions to optimize processes and drive continuous improvement.
8. Compliance and risk management: enables organizations to enforce required compliance to reduce risk of occurrence and hence avoiding penalties and other legal issues.
Overall, hyper-automation empowers organizations to optimize their business processes by leveraging the capabilities of advanced technologies. It offers numerous benefits, including increased efficiency, cost reduction, improved accuracy, accelerated processing time, scalability, enhanced customer experience, data-driven decision-making, and better compliance and risk management.
- Category: Cloud
- Date: 05-07-2023