Logo

Benchmarking survey offers hyperautomation insights

Research finds siloed automation provides limited benefits, while integrated approach enables success.

Kofax has published the 2020 Intelligent Automation Benchmark Report, a study conducted by Forrester Consulting and commissioned by Kofax. The report finds while many enterprises have prioritised automation, they’re struggling to scale and achieve hyperautomation. It also finds taking an integrated approach to intelligent automation can result in accelerated ROI, enhanced customer success and employee satisfaction, and reduced technical debt.

“The 2020 Benchmark data clearly tells a story of enterprises moving beyond siloed, ad hoc automation and toward integrated, single-vendor Intelligent Automation platforms. Boards and executives understand the value of a single platform that can digitally transform a multitude of processes while providing an open architecture capable of easily connecting to third-party applications,” says Chris Huff, Kofax’s Chief Strategy Officer. “Our aggressive R&D has been aimed at cloud-enablement, embedding AI to handle unstructured data, and orchestrating downstream workflows – allowing customers to rapidly drive increased capacity, productivity, employee satisfaction and customer success.”

For the second consecutive year, The Kofax 2020 Benchmark Report reveals organisations are making considerable headway automating key front- and back-office operations:

·58% of businesses have deployed automation technologies to digitise information

·52% are using it to automate front-desk interaction

·49% have implemented automation for fulfillment and verification

·45% use it to perform rules-based tasks

·44% use automation for business spend management

·44% automate back-office tasks

·38% automate decisioning

·30% use it to automate Accounts Payable (AP) and orchestrate workflows

Hyperautomation accelerates business transformation and success by enabling IT and citizen developers to harness complementary integrated automation technologies – including process discovery, robotic process automation, business process management, advanced analytics, business rules, embedded artificial intelligence and machine learning. Despite automation gains, the report points to several factors preventing organisations from achieving hyperautomation.

·Siloed Automation Leads to Technical Debt and Delayed Success:

oNearly all decision makers surveyed (98%) report adopting an unintegrated approach to automation resulted in unanticipated challenges.

oTwo of the most significant challenges reported were high technical debt (46%) and delayed success (35%).

oNearly half (45%) of enterprises report they’ve taken ad hoc approaches, automating their many use cases via siloed solutions from a multitude of vendors.

·Integrated Intelligent Automation Accelerates Digital Transformation:

o99% of decision makers believe there would be considerable value in working with a single automation vendor and automation platform.

o52% of decision makers cite improved customer experience as the top benefit of leveraging a single-vendor platform.

o78% of employees say a single-vendor automation platform provides greater efficiency of their daily tasks, and 65 percent say it allows them to be more productive.

Pega study demonstrates that greater collaboration across the business can transform organizations f...
Nottingham, UK-based law firm hires Amelia as a digital legal assistant to improve client experience...
Pega study demonstrates that greater collaboration across the business can transform organizations f...
Relay’s low-code workflow automation enables CloudOps teams to quickly and easily manage complexitie...
CSPs across North America, Europe, Latin America, EMEA and APAC disclose plans for automation.
Leading university pioneers use of graph analytics with AI, machine learning and translational bioin...
New survey reveals that 48% accelerated automation projects as a result of the pandemic, with cost s...
Expands continuous testing platform with best-in-class performance testing capabilities to support e...