The benefits of hyperautomation are becoming more and more apparent as businesses look to improve their business processes. Telecom expense management is a prime example. Developing an automated process for telecom expense management has many benefits.
This will lead to an increase in productivity as these departments won’t have to spend so much time managing processes that could be done by machines such as robotic process automation.
What are the benefits of hyperautomation for telecom expense management?
Hyperautomation is an emerging field that helps with cost containment and process efficiency. This means it could potentially recoup a lot of money from inefficient processes, as well as help identify wasteful practices before they happen.
It also guarantees compliance to all regulations when necessary by automating all tasks needed for regulatory compliance– while still adhering to organizational policies.
One study showed how RPA can save about $500 million in one organization’s IT department alone over five years (without even counting other departments). And this is only the beginning: if these trends continue, entire organizations will be run on robots or artificial intelligence within just a few decades, meaning that:
- Companies can reduce their expenses by up to 30% per year.
- Automating tasks reduces errors and increases efficiency, which in turn saves time and money.
- Hyperautomated processes lead to better decision-making as computer algorithms can process more data than humans at a given point in time.
- Eliminate manual work, which leads to fewer mistakes and higher accuracy rates.
- Reduce costs by scaling operations with fewer people needed on staff.
- Improve decision making through data analytics and predictive modeling
- Improve customer service with fewer wait times
- Enable employees to focus on more strategic tasks rather than mundane and routine work.
Benefits of hyperautomation for Finance departments:
Finance departments within organizations would get the benefit of being able to automate manual tasks such as reconciling invoices or calculating monthly reports with ease, freeing them up from these repetitive tasks so they have more time on their hands for higher-level responsibilities like strategy development. Hyperautomation also helps to ensure that finance teams are able to adhere to security and compliance requirements.
Hyperautomated processes will help procurement departments achieve better pricing by allowing them to have access to a global marketplace with an improved level of transparency into supplier costs, which is one way to avoid overpaying for goods.
It also helps to improve supplier relationships by eliminating some of the administrative tasks required in order to make a purchase, such as negotiating prices and sending requests for quotes-thus streamlining the purchasing process, and saving time.
Benefits of hyperautomation for Security departments:
In terms of the network security department, RPA will help organizations mitigate risks associated with cyber-attacks because it is able to mimic human behavior almost flawlessly while staying within predetermined scripts during an attack scenario.
This means that companies will have better control over their systems even when they’re not staffed 24/hours per day or seven days per week.
Benefits of hyperautomation for IT departments:
By automating redundant or repetitive tasks, RPA will reduce the time IT staff need to spend on these tasks. This means that IT operations can be streamlined and easily scaled up when more resources are needed for projects.
Besides that, IT staff can be assigned to more strategic tasks. Hyperautomation will also help organizations reduce the number of critical cybersecurity vulnerabilities because it is able to mimic human behavior almost flawlessly, matching the speed and pattern of every user action inside a company’s system in real-time.
Why hyperautomation would be key for the next years?
It will change the way businesses operate. As a result, more jobs may be created in different sectors as new technologies are developed to support RPA initiatives.
For instance, the need for IT professionals is expected to increase by 34% over the next nine years and machine learning specialists will become one of the top skills needed according to LinkedIn’s 2017 Emerging Jobs Report.
RPA can not only automate processes like invoicing but also generate useful insights about your business activities such as predicting future cash flows to help you plan ahead more efficiently. Hyperautomation is beneficial because it reduces wasted resources that would be better used elsewhere in the organization.
With many companies now automating their workflows, it is becoming increasingly important to automate as much of the process as possible. This would help not only managers and employees but also have an impact on the company’s bottom line by reducing operational costs.
An intelligent workforce capable of adapting quickly to changes in our world instead of being replaced by them.
According to Gartner, hyperautomation will have the potential to boost workforce productivity by up to 40% and increase revenue between $225 billion and $400 billion.
Hyperautomation means better processes, more reliable results, and a faster response time – not to mention the reduction in human errors. It also opens up possibilities for improving performance metrics across all departments because robots can do any task that is repetitive or error-prone much quicker than humans are able to.
Asignet is the technology and automation leader of Telcom & IT Lifecycle Expenses Management utilizing its patented RPA Robot process automation platform. The Asignet platform builds and monitors telecom, SaaS, Cloud, IT billing, inventory, and usage, helping global enterprises to optimize, secure, and manage all IT assets and their expenses.
Contact us for more information.