Hyperautomation soars in APAC as businesses aim for recovery
As enterprises begin realizing the benefits of automation, the demand for hyperautomation is now increasing among some of them as well. Hyperautomation is the concept whereby everything in an organization can be automated. For most organizations, hyperautomation will streamline processes across their business with the use of Artificial Intelligence (AI), Robotic Process Automation (RPA), and other technologies without any human intervention.
Compared to other regions around the world, hyperautomation in the Asia Pacific, particularly ASEAN region, are becoming increasingly popular. In fact, Gartner’s top strategic technology trends for 2022 identifies hyperautomation as a key technology that enterprises will look into next year. Their research explains that hyperautomation enables accelerated growth and business resilience by rapidly identifying, vetting, and automating as many processes as possible.
“Gartner research shows that the top-performing hyperautomation teams focus on three key priorities: improving the quality of work, speeding up business processes, and enhancing the agility of decision-making. Business technologists supported an average of 4.2 automation initiatives in the past year, too,” said David Groombridge, research vice president at Gartner.
With the market for software that enables hyperautomation predicted to reach nearly $860 billion by 2025 by Gartner as well, many businesses have still not maximized the value of their digital investments because they lack insight into how outdated processes hold back business operations. To apply automation that truly moves the needle, organizations need to understand how workflows across people, processes, and systems.
As such, RPA solution providers like IBM, UI Path, Automation Anywhere, Cyclone Robotics, and others have been developing various solutions for hyperautomation use cases, depending on an organization’s needs. With RPA and AI being the key technologies in enabling hyperautomation in enterprises, businesses need to ensure they can quickly identify process bottlenecks and automate solutions to help improve customer satisfaction, drive revenue growth, and improve cash flow and operating margins.
Hyperautomation use cases in APAC
For Cyclone Robotics, RPA has evolved over the years from its basic stages to the current RPA+, which requires end-to-end process automation capabilities at the departmental level and will continue to advance to enterprise-level hyperautomation of the future. Case in point — their partnership with Sinolink Securities, an Asia-Pacific leading securities and investment management firm.
After Cyclone Robotics’ initial RPA products and applications were proven successful, Sinolink then began to broadly deploy RPA across the whole company. By 2021, more than 200 RPA operations have been successfully deployed in over 30 departments, achieving 100% execution accuracy with zero errors, 24/7 automated operations, and saving over 6,000 minutes of manpower every day.
Moving forward, Cyclone Robotics is working with Sinolink to establish its hyperautomatic middle office with Cyclone Robotics’ recent innovations, such as the aforementioned AI Skill Platform and CIRI. Sinolink can now look forward to a more deeply integrated RPA that adds value to its management, business, and collaborations, enabling it to explore more applications for automation.
Meanwhile, IBM has identified several industry-specific examples that also demonstrate the benefits of hyperautomation. In healthcare, there are many repetitive processes, contractual obligations, and regulations whereby the technology can be combined with natural language processing to automate services, speed processes, reduce costs and provide higher quality.
For the industrial sector, production facilities can use hyperautomation technologies along with business process management solutions to produce higher quality products at scale. Many industrial environments also use legacy systems and processes that could benefit from optimization.
And in financial services, hyperautomation, along with technologies like optical character recognition, can reduce manual intervention while ensuring high-quality results on front- and back-end processes. It can also aid economic recovery from the pandemic.