The subsequent geopolitical issues in the past few years have shed light on the shortcomings of global supply chains. Manufacturers worldwide are stumbling from its effect and adopting new ways to automate their processes to streamline their workflows. Automation is the latest buzzword in the digital revolution and the manufacturers are going beyond to leverage cognitive technologies like Robotic Process Automation, Artificial Intelligence, and Machine Learning to bring about end-to-end digital transformation.
The “Hype” behind “Hyperautomation”
Hyperautomation is enabling manufacturers to diversify their core capabilities and explore the potential of their enterprise. Operational technology has advanced dramatically in recent years, the traditional shop floor has advanced from utilizing steam-powered engines to leveraging
robots and state-of-art technology.
Here are some of the most significant advantages of Hyperautomation in the manufacturing industry and why manufacturers are investing in them-
Disparate steps in supply chain or back-office processes are prone to errors and delays. Hyperautomation helps bring down the possible bottlenecks or delays by automating processes that need complex documentation and interaction across multiple platforms, thereby increasing efficiency.
Suggested read- Role of Hyperautomation in Supply Chain Management
Better inventory management:
Keeping track of a colossal inventory is challenging. Even a minor bottleneck negatively impacts the business’s overall productivity, reputation, and revenue. Fortunately, Hyperautomation handles massive volumes of monotonous processes and executes them with better accuracy. Inventory management, if done manually at a large scale, is liable to delays due to mislabeled or miscounts, among other errors. Hyperautomation frees up employees from repetitive tasks, rectifies errors at earlier stages, and completes tasks with higher accuracy.
Integrated workforce and higher productivity:
Hyperautomation empowers manufacturers to create an integrated, cohesive workforce that drives business growth. The collaborative intelligence of a human and a digital workforce allows personnel to use AI for better decision-making, and leverage the insights to boost productivity while enhancing their processes.
Thus, everyone involved in the manufacturing process, right from business analysts to developers, are trained in automation to be an active part of the transformation journey. Personnel is freed up from performing menial, manual tasks. This boosts the quality of work while increasing employee satisfaction.
Better analytics and insights:
Manufacturers require accurate insights to help them improve and optimize processes that maneuver the organization’s growth. Hyperautomation leverages AI/ML algorithms, optimized Robotic Process Automation (RPA), business processes, and analytics to tap into valuable data from disparate sources, act intelligently on it, and make innovative decisions. The strategy enables them to unlock the real value of data and retrieve real-time insights to analyze the latest business trends and predict after-math.
Improved finance and accounting activities:
Hyperautomation can be leveraged in the finance and accounting department to automate financial planning, payroll, budgeting, accounts payable, etc. For example, the accounts payable work involves collecting invoices and releasing payments. Hyperautomation helps streamline this process by using Optical Character Recognition (OCR) for data extraction, automated invoice release, payment verification, etc., while RPA helps in the process of checking the authenticity of a huge number of invoices.
The objective of implementing a new transformation strategy is to improve current processes and yield better results. Hyperautomation helps manufacturers maximize the ROI as all their repetitive tasks are automated, and workers can concentrate on value-added tasks, improving productivity.
Hyper-automation is being implemented by multiple verticals for and resolving a majority of business hurdles. A robust automation strategy helps banish the barriers that technology or tools are limited to, and enables a wide range of interoperable systems to simultaneously boost business benefits and enjoy maximum ROI. Organizations are utilizing the power of automation at a much bigger scale, identifying all processes that can be automated beneficially and leveraging them end-to-end by using advanced technologies.
How can Neebal help?
With Hyperautomation, Neebal automated several processes and provided detailed insights into sales forecasts of one of the leading agrochemical companies, resulting in an 80% reduction in time taken for achieving similar results. If you are ready to implement Hyperautomation in your business, contact us today to get started!