By 2024, organizations will lower operational costs by 30% by combining hyperautomation technologies with redesigned operational processes,” according to the Gartner Predicts 2020: RPA Renaissance Driven by Morphing Offerings and Zeal for Operational Excellence report.
Source: Gartner 2020
Robotic process automation (RPA) software revenue grew 63.1% in 2018 to $846 million, making it the fastest-growing segment of the global enterprise software market, according to Gartner, Inc. Gartner expects RPA software revenue to reach $1.3 billion in 2019.
McKinsey Global Institute estimates that using demonstrated technologies, more than 81 % of predictable physical work, 69 % of data processing, and 64 percent of data-collection activities could feasibly be automated.
Three-Quarters of Organisations are planning to Automate now or in the immediate future.
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Our expert consultants understand your business, perform landscape assessment, identify opportunities, suggest optimizations, predict productivity and return on investments giving you a clear roadmap for automation rollout. We share a documented report including the impact, result and risk factors of the RPA implementation.
We assess existing manual processes that require automation. We design process pipeline, process profiling, process flow diagrams creating a blueprint. Our experts based on your feedback then implement automation projects for your organization or support existing rpa support operations. We create best quality, resilient, fault tolerant automations that are flexible to organization changes.
We create a proof of concept or pilot automation helping you evaluate automation fitment for your organization to allow you to make the right choices for your organization automation journey.
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Hyperautomation is trend number one on Gartner’s list of Top 10 Strategic Technology Trends for 20201.
Hyperautomation unlocks maximum potential for an automated enterprise
Robotics Process Automation has evolved in a spectacular manner with unprecedented growth in terms of its adoption by industry. However, Robotics Process Automation nature requiring refined processes, rule-based activities,pre-defined outcome, lack of insights has not only lead to limited candidates for automation but also have lead to suboptimal outcomes over expectations.
Hyperautomation allows expansion of scope allowing including many more organization processes in the ambit of an organization’s digital workforce candidates.
Hyper Automation is achieving more by using in orchestration capabilities of
Artificial intelligence such as machine learning (ML), natural language processing (NLP), intelligent optical character recognition (OCR), and AI computer vision, allowing robots can read and see, for work processing. Automated process discovery tools that look deeply into how teams operate showing what could be vs what should be automated.Workforce engagement capability allowing the democratization of automation by involving not just the traditional RPA developers and testers, but also involve your subject matter experts, business analysts, and business users. Advanced analytics to present insights into the real ROI of automation and its impact based on business outcomes that matter to any company.
Promising Areas Of Opportunities in Hyper automation Enabled Digital Workforce
BPO adopted automation early for tangible benefits in areas Process improvements, the Credit assessment, Fraud prevention, Collections, Payments, Recordkeeping, Reconciliations, Settlements, Assessment of insurance history, Insurance operations
Finance And Accounting Processes such as Bank reconciliation process, Fixed asset management, Financial and external reporting, Inventory management, Payables management, Tax planning, and accounting are high potential opportunities
Insurance Industry has lot to gain from the virtual workforce in processes such as Underwriting and pricing, Claims processing, Business and process analytics, Customer onboarding, Legacy System, Policy administration and client servicing, Regulation and compliance maintenance
The most common use cases across the industry namely Streamlining vendor applications and estimating, Capturing and managing claimant data, Streamlining, automating and enhancing communications, Scanning, indexing and converting forms and data
Banking Due To Its Rule-Based Process By Nature Has Highest Automation Adoption And Potential. Major Processes for Automation are Customer Service, Compliance, Accounts Payable, Credit Card, Processing, Mortgage Processing, Fraud detection, KYC, General Ledger, Report Automation, Account Closure Process, Account Origination & Receivable, Surrender, Collection, Underwriter Support, Deposits.
Retail has seen lot of traction form intelligent automation in many areas such as TRADE PROMOTION, Sales Analytics, MAPPING CUSTOMER BUYING PATTERNS, CUSTOMER FEEDBACK MANAGEMENT, CUSTOMER SERVICE, REPORT AUTOMATION
Intelligent Automation OpportunitesExist in All Other Industries Such as Petroleum, BPA, Telecom, Real Estate few areas are capacity planning, production reporting, Tower operations etc.
Human Capital is an interesting area where automation could unveil new opportunities in processes such as onboarding, offboarding, resource scouting, Employee Claim Settlements, Payroll management, reporting, etc.