Paul Gerrard

Next Level Finance Tech for 2020: Hyperautomation


Hyperautomation is going to be a top digital strategy in 2020, according to the latest research from Gartner, which defined it as “the combination of multiple machine learning, packaged software and automation tools to deliver work.” Despite its name, hyperautomation is actually a highly people-centric approach, designed to help humans handle repetitive tasks more easily and crunch big data more quickly. This frees up workers’ time to address more complex operations.

But hyperautomation goes beyond automating tasks via robotic process automation (RPA). The RPA process, an early form of hyperautomation, is only one step in the journey. True hyperautomation is capable of integrating fully with finance functions, and looping humans into the process.

Hyperautomation is a multi-pronged approach

A combination of tools – including RPA, intelligent business management software (iBPMS) and other AI – must be brought together for optimal AI-driven decision-making. Automation doesn’t replace human talent – it enhances it. When hyperautomation is properly deployed, it often creates a digital twin of your organisation (DTO). The DTO allows your business to visualise how functions, processes and key performance indicators interact, delivering continuous real-time intelligence to better drive business opportunities and galvanise value.

Next Level Finance Tech for 2020: Hyperautomation

By committing to a workplace driven by collaborative intelligence you can significantly expand the capabilities of your team.

Hyperautomation and business intelligence go hand in hand. This union must be supported with employee training to ensure all tasks that can be handled with automation are offloaded and that the results are appropriately leveraged for a competitive edge. By committing to a workplace driven by collaborative intelligence and seamless interoperability, you can significantly expand the capabilities of your team.

Proper integration is key

Poorly executed hyperautomation can do more harm than good. Your organisation must be able to develop a platform that integrates tools to cover the spectrum of automation, deploying smoothly to harness big data and providing both surface and in depth reporting for stakeholders and CIOs.

Next Level Finance Tech for 2020: Hyperautomation

Your organisation should harness big data and providing both surface and in depth reporting for stakeholders and CIOs.

Hyperautomation, at its best, can help organisations redirect human assets in a way that most efficiently utilises IT budgets. A new type of role will become available to those seeking to enter fields where finance intersects with technology: the so-called super-jobs, defined as “machine-powered, data-driven roles that require human skills in problem-solving, communication, interpretation, and design.”

Employees are continually expected to do more with less, yet view technology as a threat to their employment. But technology augments jobs, it doesn’t replace them, and tech roles will continue to expand. Hyperautomation and reimagined employee roles could be the key to the future of finance.