Hyperautomation takes enterprise digital transformation to a new level by putting “brains” behind standard robot-driven rule-based functions. If automation is the elevation of a business’s processes and tasks, then hyperautomation takes it to the next level.
But hyperautomation isn’t complete until you have a closed-loop approach to your AP process. Aside from the essential functions of AP automation, key information generated by a smart AP solution can significantly affect your business’s outlook and future.
What is hyperautomation?
Gartner, a research firm, defines hyperautomation as “the application of advanced technologies, including artificial intelligence (AI) and machine learning (ML), to increasingly automate processes and augment humans.”
They go on to say that hyperautomation “extends across a range of tools that can be automated, but also refers to the sophistication of the automation (i.e., discover, analyze, design, automate, measure, monitor, reassess.).”
Hyperautomation isn’t about replacing humans. Instead, it’s about augmenting them.
Instead of task completion through automation, hyperautomation puts intelligence behind the automation to further enhance functionality for the business at large.
Why AP automation plays a key role in your hyperautomation strategy
AP automation is a no brainer to include in a hyperautomation strategy.
At the most basic level, AP automation is the consolidation of tasks relating to the myriad of incoming vendor bills, meaning less touchpoints for resources. In the case of AP processing solutions like DocuPeak, automation can intelligently read each bill coming through, pull the data, enter it, organize it, match it against data and business rules, and approve bills for payment—giving crucial time back to an AP or P2P team.
Arriving in all forms—digital, paper, email, snail mail, fax—automation of these incoming invoices immediately upon entry, through a unified system, ultimately allows a business to have a comprehensive, real-time look at their enterprise-at-large. Need to make well-informed decisions in a timely manner? Smart AP automation solutions, like DocuPeak, make that possible.
So it’s no wonder, in a hyperautomation strategy, that the measure, monitor, reassess goals would benefit from an AP automation solution that would allow for accurate and swift reporting and end-to-end audit trails..
The right AP automation solution enhances hyperautomation
No two solutions are alike, especially if you’re still relying on OCR to drive your AP automation process. That’s why it’s crucial to not only have an AP automation solution for your hyperautomation strategy—but to have the right one.
When considering key technologies to include in any hyperautomation strategy, tight integration with back-end systems position your ERP to scale further through automation-driven potential.
A solution that sits outside your system of record, relies on push-pull information, or lacks cohesive or adaptable functions, limits your growth potential.
That’s why DocuPeak’s financial process automation solution hosts a combination of cloud technologies that make data readily available regardless of growth in vendors or invoice volume. And advanced technologies like AI and robotic process automation (RPA) make it possible for your AP process to sync intelligently with NetSuite.
Take your growth into hyperdrive
Hyperautomation is essential for a variety of reasons. Stepping into a post-pandemic world, it’s the “digital twin” that can help a business grow and adapt.
But enterprise efficiency starts with your most essential functions. AP processing, one of the most important functions in any business, needs to be part of your hyperautomation strategy. Beyond that, only the right solution can help you execute your strategy effectively.
Solutions like DocuPeak from Webiplex can help your business expand its bandwidth and take your enterprise automation to the next level.
See what DocuPeak can do for you by connecting with us today.