One New Year’s Resolution You Should Really Consider — Hyperautomation
The New Year is a great time to set attainable resolutions that build a healthier, happier, and more productive lifestyle! In business, that translates to finding better ways to save time and money while increasing employee satisfaction. Luckily, a single solution makes it all possible, and it’s called Hyperautomation.
Hyperautomation is a holistic approach to process automation, combining a variety of cutting-edge software to reduce costs, minimize worker fatigue, and improve productivity — which is why it’s one New Year’s resolution your business really should adopt. Here’s why:
Cut the Cost of Paper
If your business relies heavily on printing, copying, and storing paper documents, Hyperautomation could be the push needed to take your business digital. While the physical cost of paper fluctuates year-over-year, the price of storage, labor, and paper mistakes only climbs. According to paper statistics from Industry Analysts:
- On average, the cost in labor to file one document is $20.
- One out of every 20 documents is lost.
- The average company spends $120 in labor to find one misfiled document.
- Approximately 25 hours are spent recreating each lost document.
- The typical employee spends 400 hours each year searching for documents.
While cutting back on company-provided lunches in 2022 is an advisable way to save money, it wouldn’t come close to the amount that could be saved by digitizing and automating paper documents. Those savings amplify with Business Process Outsourcing (BPO) options like KeyMark’s CloudCapture. BPO outsources the digitization of paper documents to a team of automation experts that rapidly process documentation for entire departments and place contents in a secure cloud ecosystem for faster access.
Reduce Workforce Wear
2021 presented the continued evolution of remote and hybrid workforces. While that became a good thing for some, organizations and departments still reliant on manual document-intensive processes and long workflows suffered from disorganization resulting in increased security risks, crippled productivity, and worker mental strain.
If improving your organization’s paper processes and manual workflows has been on your list of company upgrades to consider this year, Hyperautomation targets those pain points of disorganization and improves them with the best-in-class enterprise content management (ECM) systems.
Specifically, OnBase by Hyland is a single ECM platform to manage content, processes, and cases. OnBase stores essential data in one secure place, automatically routing the information when and where it’s needed. Using OnBase, teams can view and share files, no matter where they are, and increase overall efficiency by moving processes quickly through the pipeline.
Improve Productivity with Robotic Process Automation
According to Gartner research, the global revenue for RPA software grew about 11% from 2019 to 2020. That growth nearly doubled in 2021 to a 19.53% increase. With the competitive price of RPA technology steadily declining and the market rapidly growing, there has never been a better time to augment your workforce with RPA. Today’s RPA technology even implements low-code or no-code software that doesn’t require significant IT strain to get new bots created and running.
Hyperautomation solutions offer RPA that reduces time spent on repeatable, mundane, and low-effort tasks — giving those jobs to 24/7 programmable bots. RPA not only brings an immediate boost to employee productivity and satisfaction, but it promises significant cost savings from the initial installation.
Curious how much you can save with RPA? Discover your return on investment for RPA with our RPA ROI calculator.
Enterprise-wide automation became a high-focus strategy for businesses in 2020 and 2021 as organizations sought to harness more flexible workforces. As the New Year takes-off, it’s essential to realize that what was once a forward-thinking strategy is quickly becoming a baseline for competitive business. Hyperautomation not only ensures you’re meeting the status quo of corporate automation through an all-encompassing solution, but it also enhances any new automations with professional training, implementation, and support that’ll last through 2023 and beyond.
Want to learn more about the transformative power of Hyperautomation? Download our eBook on Hyperautomation solutions from KeyMark!