In recent years, it is clear that hyperautomation has become the new way to success for businesses. Hyper automation is a combination of Robotic Process Automation (RPA) with other cutting-edge technologies, including Artificial intelligence (AI), Machine learning (ML) and Neuro linguistic programming (NLP). And now, businesses can automate end-to-end processes, even those that were not automated in the past. This contributes to improving the capacity of employees, aiming to automate complex repetitive tasks effectively and save time. So, what are top hyperautomation use cases for businesses to thrive in 2022?
Banking and Financial Services
Banking and Financial Services have great potential in deploying hyperautomation tools. Services that can be used include: periodic reporting, marketing, sales and distribution, banking, payment operations, lending operations, back-office workloads and the other business support activities.
Banking and Financial Services is an industry that has great potential in applying hyperautomation tools. Source: finance-monthly.com
One of the prominent applications of hyperautomation in the industry can be mentioned in KYC – the process of identifying and verifying the identity of customers. With the developments of technology and the goal of simplifying procedures and documents, creating convenience for customers, eKYC – electronic customer identification process – was born. This helps banks and financial institutions save time, money and human resources, while providing a better customer experience.
eKYC is integrated with OCR technology to extract information from identity documents, then upload the encrypted information to the system in less than 3 seconds with 99% accuracy. In addition, eKYC is also integrated with technologies such as Biometrics Authentication with Face matching – a tool that uses computer algorithms to select and identify through unique facials of customers with 98% accuracy.
The applications of hyperautomation solutions helps banks promote effective monitoring of transactions and proactively identify fraudulent activities With end-to-end AML solutions or in combination with RPA bots, banks can collect data and detect fraud through ML algorithms.
Find out more about Hyperautomation in Banking here!
Insurance is an industry that requires employees to do repetitive manual tasks. For this reason, Insurance is also considered as one of the industries with great potential in applying hyper automation tools with the aim of reducing pressure on employees, while increasing accuracy and improving efficiency working performance.
One of the popular applications of hyperautomation in the industry can be referred to as Customer Claims Processing. This is the most important process for any insurance company, requiring absolute precision.
With the presence of hyper-automated tools, a large number of documents from multiple sources will be verified and aggregated. This greatly improves the accuracy of these data and shortens the execution time instead of traditional collection and processing operations. Hyperautomation in compliance testing and data validation allows employees to process claims more quickly and accurately.
The support of hyperautomation tools helps insurance workers to handle manual tasks quickly with the highest accuracy. Source: virtusa.com
Insurance is an industry that needs to deal with a wide variety of digitally processed documents, including life insurance policies, claims forms, disability forms, change of beneficiary forms, etc. At this time, IDP – an intelligent document processing tool – will have the opportunity to assert its importance. With IDP, document processing operations will become faster and more accurate.
In addition, the application of hyperautomation in advanced analytics activities promises to make information sources more diverse and meaningful, from sensing to geolocation and the others. These technical forecasting models promise to help insurance companies calculate the exact risk probabilities and premiums for each specific customer segment.
Insurance companies can use machine learning technology to make more professional title predictions. With ML, businesses can process many different variables at the same time before making highly accurate predictions. From there, businesses will have a basis to propose policies with competitive prices for each specific customer group, based on those available data sources.
Healthcare is an industry that requires a reasonable arrangement of office activities. This helps doctors and specialists quickly understand clinical test results, thereby making accurate diagnoses and providing a better experience for each patient. For this reason, hyper automation has become more widely used nowadays, including Digital nurses, Bill processing, Medical transcription and Advanced analytics, which provide direct statistical results which are easy to understand quickly.
The Healthcare industry is also not ‘out of the game’ as it has begun to apply hyper automation tools in treatment and other back-office tasks in recent years. Source: dxsherpa.com
Nowadays, some hospitals have started implementing Digital nurses to interact with patients from the initial screening step. At this time, these digital nurses will ask some questions related to the patient’s health status and symptoms. Then, they will guide patients to appropriate clinics based on those results.
Meanwhile, Advanced analytics is a tool leveraged in building the ability to analyze clinical outcomes in an intuitive, easy-to-understand manner through the use of real-time data. This allows doctors and specialists to recommend effective treatments for specific patients based on the pre-aggregated data.
Meanwhile, Bill processing is an important step in every hospital and there are always certain pressures on staff, especially when they always have to perform repetitive manual tasks. With hyperautomation tools, the smart payment feature will be activated with the reconciliation of invoice details with each department before consolidating. This makes processing and paying bills faster than before. In addition, hyperautomation tools can also integrate AI and RPA to streamline insurance and claims management in hospitals. At this point, the AI will determine the scope and terms of the policy, while the RPA bots will take care of sending invoices and other necessary supporting documents.
In addition, Medical Transcription is the result of using computer algorithms, allowing the system to recognize speech and convert to text. This ML model is integrated over several thousand samples with different voice requirements, ensuring increased accuracy. This will help doctors and specialists save time when filling out relevant information in the hospital’s EHR (General medical record).
In recent years, Retail is an industry that has witnessed a paradigm shift with the presence of new e-commerce sites and an increasing number of new users joining. At this time, maintaining convenience for customers is a prerequisite for the industry, especially in the context that other industries have begun to transform a long time before. With hyper automation tools, nowadays, Other management, Payment, Shipping, Warehouse and Inventory management, Supplier management, Risk management, Data monitoring, v.v. has become so much easier than before.
The applications of hyperautomation tools help businesses reach the target customer group in an easy way. Source: squarespace.com
Today, customers have so many choices that it is relatively difficult to gain their trust and loyalty. This is where hyperautomation tools can prove their worth in each business of this industry.
For example, with a camera with built-in AI, retailers will be automatically notified when the camera captures images of customers who frequent the store. This makes it easier for employees to connect and support customers with extra care – something a loyal customer needs to receive from a business that they like.
In addition, with hyperautomation tools, analyzing and valuing other competitors is a way for businesses to remain competitive in the market. With a digital workforce, businesses can monitor competitor websites and prices in real-time. At this point, they will receive 24/7 notifications whenever they notice price movements in the market. Collecting data from multiple sources will help businesses easily to make predictions, thereby improving the quality of their products to ensure increased profits.
Business Process Outsourcing (BPO) and Customer Service focus Industry
This is an important business for most companies based on product or service development and also for BPOs. With hyper automation tools, businesses can process caller information seamlessly, reducing average call handling time and improving efficiency. With the implementation of AI in call quality monitoring, Customer Service Representative (CSR) of this company will be able to understand the psychology of customers. In addition, with AI, businesses can screen calls based on importance, helping to shorten the customer’s problem – solving process.
Thereby, the presence of hyper automation tools help businesses conduct advanced analytics. With this data source, businesses can clearly identify customers at risk of leaving, then focus on improving their ability to stay. At this point, businesses can actively maintain relationships with customers to enhance their experience, thereby maintaining their credibility and loyalty with business.
With hyperautomation tools, businesses can maintain relationships and ensure customer loyalty easily. Source: positivethinking.tech
This is when businesses need to change or accept being left in their own race. If businesses have a need to innovate processes to improve productivity and improve quality, akaBot is the right partner who they are always looking for. As the pioneering hyper automation solution in Vietnam, akaBot is integrated with various technologies, including AI, OCR, chatbot, voice with RPA core technology. This promises to bring businesses an optimal and comprehensive automation solution, ensuring maximum resource savings. akaBot has been honored to accompany many Vietnamese businesses in various industries. For more detailed advice, please contact the hotline: +84 (24)3 768 9048 or fill out the registration form to revive the most detailed advice here.
akaBot (FPT Software) is the operation optimization solution for enterprises based on RPA (Robotic Process Automation) platform combined with Process Mining, OCR, Intelligent Document Processing, Machine Learning, Conversational AI, etc. Serving clients in 20+ countries, across 08 domains such as Banking & Finances, Retails, IT Services, Manufacturing, Logistics…, akaBot is featured by Gartner Peer Insights, G2, and ranked as Top 6 Global RPA Platform by Software Reviews. akaBot also won the prestigious Stevie Award, The Asian Banker Award 2021, etc.
Leave us a message for free consultation!