What is Hyperautomation?

“Hyperautomation is a business-driven, disciplined approach that organizations use to rapidly identify, vet and automate as many business and IT processes as possible,” states Gartner.

Hyperautomation involves the orchestrated use of multiple technologies, tools or platforms, including:

Artificial intelligence (AI)

Machine learning

Intelligent document processing (IDP)

Event-driven software architecture

Robotic process automation (RPA)

Integration platform as a service (iPaaS)

Business process management (BPM) and intelligent business process management suites (iBPMS)

Low-code/no-code tools

Packaged software

Other types of decision, process and task automation tools

In order to use these technologies, the first step of any intelligent automation process must start with data accessibility enabled by content ingestion tools such as intelligent document processing (IDP) for document-centric processes. Actionable, structured data is needed to power any automation. Analysts estimate that over 80% of data is unstructured, which makes process automation difficult, if not impossible, without a platform to transform data into a usable, structured format. The hyperautomation strategy – automating and integrating everything that can be automated – needs to start with data.

The Entire Spectrum of Hyperautomation

The analyst and Systems Integrator community refers to the combination of a variety of automation solutions as “technology orchestration,” as if each type of automation technology was a different instrument in a symphony working together. This depiction breaks the orchestration of automation down in three core categories: Process Mapping and Intelligence, Data-Led Transformation and Workflow, Process and Task Automation.

Automation Technologies

PROCESS MAPPING & UNDERSTANDING

Process Discovery:

  • Process Mining
  • Task Mining
  • Process Mapping & Understanding
  • Process Reimagination:

    • Process Mining

DATA-LED TRANSFORMATION

  • Intelligent Document Processing (IDP)
  • Document Management & Storage

WORKFLOW, PROCESS & TASK AUTOMATION

  • Low code/no code-led workflow automation
  • Intelligent virtual agents (IVA)
  • RPA
  • API Integration

Where to Start Automating

Developing a hyperautomation strategy begins with prioritizing what your organization wants or needs to automate. It also involves understanding your available resources and what data you need to uncover to “feed” those processes. According to a recent annual global survey of executives by Deloitte, 73% responded that their firms have embarked on a path to intelligent automation, which was a major jump from the previous year. In Zinnov’s “Global Automation CXO Survey 2021,” they found 89% of leaders are focused on intelligent automation, which includes intelligent document processing, RPA, low-code/no-code, process mining and intelligent virtual agents and AI.

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What Business Problem Are You Solving For?

As companies are looking at incorporating process changes or reimagining their operations or even their business model, it is important to identify what problems are desired to be solved through automation. Here are the top four business problems that get the most traction as they promise the greatest ROI:

Increase Revenue

Reduce Costs

Improve Customer Experience

Reduce Risks

Identifying Your Data with Intelligent Document Processing

The main capabilities of IDP are ingesting, classifying and extracting unstructured and semi-structured data from both physical or electronic documents and transforming it into structured data. IDP eliminates the need for humans to manually review, classify, redact or handle any of the data included documents. Once in a structured format, the data from the now-searchable file can be exported into any other application or repository with the ability to be archived, searched and analyzed. Ephesoft’s IDP platform can easily integrate directly into applications or using APIs or iPaaS and export the data into an ERP, RPA or any line of business application.

Success Stories

Flowserve Corp.

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Global manufacturing company processes contracts 6X faster while decreasing error rate by 90%.

Honda Logistics

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This transportation and logistics powerhouse turned their AP department into a profit center.

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Benefits to Digitizing Your Documents

Positive customer experience

Easier document submission by phone or browser

Faster processing and delivery of new account data increases efficiency

Decrease time-to-account profitability

Dramatic reduction of human error due to manual data entry

AI provides context and additional insight into customer behavior

Comply with and standardize regulatory requirements that affect customer onboarding globally

Data can be used enterprise-wide, especially in KYC, AML, Tax, Operations, Credit, Wealth Management and Legal departments

Increase visibility into customer risk and improve risk ratings

Reduce duplicate requests

Maintain regulatory compliance throughout the customer lifecycle

Accelerate response to regulatory change

Enrich customer profiles

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