Hyper Automation technology brings a lot to the table and the benefits offered apply not just to accounting enterprise-level companies, but also to accountants who are small and medium businesses (SMBs). Of course, to understand those benefits and advantages, you need to know a bit more about what Hyper Automation is and what it’s all about.
What Is Hyper Automation?
Hyper Automation takes the trend of automating processes and accelerates it. It combines robotic process automation, or RPA, with artificial intelligence (AI), as well as other tools that enable advanced results. Think super in-depth analytics, advanced process mining, and more. The result? Expanded automation capabilities that go well beyond what was possible even a short time ago.
The underlying premise of Hyper Automation is simple – automating as much knowledge work as possible helps to engage everyone within the business and fosters deep transformation.
Why Consider Hyper Automation in Accounting?
Why should enterprise companies and SMBs in accounting consider Hyper Automation? There are plenty of benefits to be found here. Some of the most critical include the following:
- Identify and Automate Rapidly – Identifying business processes that can be automated, and then automating those processes, can be time-consuming and challenging, even for large enterprises. Hyper Automation harnesses an evolving set of AI technologies that allows you to do this much more rapidly.
- Automation at All Levels – Often, automation is only applied to IT-related processes. However, with Hyper Automation, you’re able to empower both business and IT teams through automation, which allows them to seamlessly contribute. In fact, any employee in any department within an accounting firm can become an automation leader and develop powerful tools that foster success and growth.
- Human-Robot Cooperation – In the past, software robots and humans worked side by side, but separately. With Hyper Automation, you enable them to work cooperatively, even collaboratively. This applies not just to basic processes, but complex, long-term, mission-critical business processes. Imagine what can be accomplished when humans and robots can work not just together, but collaboratively, iterating and building on what each achieves.
- The Tools You Need – Finally, Hyper Automation delivers access to vital tools at all scales. You can do everything from discovering automation opportunities to measuring the return on each automated business process to fine-tune your operation.
With all that being said, understand that Hyper Automation goes well beyond just replicating what you can already achieve with RPA. Think of this as the next step in the evolution of this technology.
Where Can Hyper Automation Be Used?
Unsure of the specific ways that you can use Hyper Automation in your accounting business? Hyper Automation solutions can automate accounts payable, accounts receivable, auditing and compliance, financial planning and budgeting, payroll and more.
In HR, Hyper Automation can be used to automate the hiring/recruitment process, employee relations, talent development, compensation and benefits, and more.
The applications and potential benefits are virtually limitless as long as you can implement Hyper Automation technology.
Beyond Enterprise Applications of Hyper Automation
Hyper Automation might seem as though it’s primarily a tool for big accounting businesses to use, but the truth is that SMBs can also benefit from this technology. The challenge here is finding a partner to handle the heavy lifting and implementation processes. That’s where Valenta enters the picture.
We’re proud to work with accounting enterprise-level businesses as well as SMBs in need of Hyper Automation and cutting-edge solutions that foster business growth and stability. We offer critical services and solutions at each stage in your Hyper Automation journey, from discovery to building, management, running, engagement, and measuring.
Our key services include in-depth consulting solutions, from helping you conceive and design an automation strategy and vision to assessing the impact and ease of automation and aligning those with desired business outcomes. We deliver implementation solutions and managed services as well, all designed to ensure you can make use of Hyper Automation technology even if you represent a small business.
Moving Forward
Hyper Automation is the next step in technology and delivers critical capabilities. We can help ensure that you’re able to leverage the value of this opportunity. Contact Valenta today to learn how you can leverage hyperautomation.