If it can be automated…make it so.
Automation is a significant operational buzzword for any organization these days, but a related one is gaining traction and may eventually replace the former altogether. Hyperautomation.
No, it’s not lingo stolen from your favorite sci-fi show about how fast a ship travels through space. Though there is potential for proactive organizations to reap the benefits of “warp speed” efficiency and process oversight. Hyperautomation involves implementing end-to-end automation across every possible process and workflow throughout the organizational infrastructure.
It goes well beyond individual task or process automation. To some, that’s now almost short-sighted in its effectiveness compared to what hyperautomation is starting to deliver. As a comparison, a business could automate its new employee onboarding flow—but hyperautomation could involve seamlessly automating the whole of the HR management pipeline, involving recruiting, job postings, interview screenings, onboarding, training, benefits submissions, and performance reviews.
According to recent estimates, the global hyperautomation market was worth around $9 billion in 2021 and is predicted to reach $26.5 billion by 2028 (CAGR of 23.5% between 2022 and 2028).1
What drives hyperautomation?
Hyperautomation requires the integration of numerous technology platforms and tools, such as artificial intelligence (AI), task-triggered software, robotic process automation (RPA), low-code/no-code tooling, and other decision-making architecture. As these and other innovations continue to advance in complexity and sophistication, it only enhances hyperautomation’s potential—think of the recent leaps and bounds in automated, AI-generated content and how swiftly that’s changing the dynamic of content management in every industry.
Benefits and challenges of hyperautomation
Hyperautomation offers numerous benefits, such as reducing errors and speeding up production by automating manual tasks. Teams can be equipped to pivot to industry shifts and customer demand with more agility while developing new business models, products, and services more quickly and effectively.
Hyperautomation can extend beyond the limits of organizations to connect vendors, supply chain managers, and asset operators, boosting overall business resilience. Real-time compliance is also improved as it becomes easier to monitor and ensure regulatory measures are in place, helping to keep activities within pre-define guardrails while reducing human error.
As with any technological advancement, there are challenges to be reckoned with, not the least of which is overcoming legacy infrastructure and traditional workflow inertia. Organizations that are considering hyperautomation should be proactive in defining essential KPIs and how to best calculate ROI. Plus, after stakeholder and executive buy-in are procured, the company must figure out the best hyperautomation infrastructure and take steps to ensure the customer experience isn’t disrupted during the transition.
Areas of application for hyperautomation
There are countless ways in which hyperautomation can be implemented. Internally, finance, procurement, and human resources are just a few departments that can benefit from automating everything from purchase requisition approval to data extraction to payroll and invoicing and beyond.
Externally, hyperautomation can transform the customer journey by enabling personalized, omnichannel shopping experiences and automating feedback loops. End-to-end supply chains can be optimized, and workflows can be customized for any eventuality, including crisis management.
This is why many consider hyperautomation to be the future of business operations—not just an option but increasingly necessary to competitive survival. By automating multiple processes across a company, businesses can improve efficiency, drive innovation, reduce errors, and ensure compliance. Challenges certainly exist, but they can be dealt with through healthy change management and detailed communication plans to streamline the transition.
It may be time to enjoy work at warp speed, after all.
- Zion Market Research, “Hyperautomation Market – Global Industry Analysis,” August 2022