Welcome to hyperautomation in the world of global payroll. In the free GPMI webinar “How to Do More With Less: An Introduction to Hyperautomation for Global Payroll,” industry experts from Phoenix Technology explained how companies can leverage digital workers and consolidate and streamline operations using advanced tools.
During the webinar, Arpit Bitta, Chief Technology Officer at Phoenix Technology Systems, and Abhay Verma, Chief Financial Officer and Head of Partnerships at Phoenix Technology Systems, discussed how hyperautomation could be used by companies in their journey to understand the kind of technologies currently at the center of the global payroll industry.
So, how is hyperautomation defined? It is a combination of various activities all working seamlessly together to obtain incredible efficiencies. Hyperautomation, which includes robotic process automation (RPA), intelligent business process management, machine learning (ML), and artificial intelligence (AI), allows companies to learn from their own processes and data.
“One single component is not hyperautomation,” Bitta explained. “Hyperautomation allows increased efficiency of processes, elimination of wasteful tasks, and the automation of very complex tasks, which may take months to compile all that data. We can get it done in minutes.”
While many companies could view hyperautomation as too costly or complicated to implement, the fact is that it can save organizations money, utilize staff more strategically, and decrease tedious workloads.
“Hyperautomation can apply to any organization and any task across the board,” Bitta said. “It can improve overall processes and make systems better.”
Verma said that when companies discuss hyperautomation, they should be talking about data flow. The first way to do that is to have a direct integration for data.
“Let data flow from Point A to Point B without anyone touching it,” Verma said. “The whole point of automation is to relieve manual and laborious tasks from the workforce.”
Key factors in hyperautomation include the following:
- Integrations—APIs, connectors, etc.
- Interactive user experience (UX)—Chat bots, automated short message service (SMS), etc.
- Workflows—Approvals and rejections
- Learning—Understanding trends and identifying anomalies
- Intelligence—Decision-making based on learning
How do you apply this to global payroll processes? Bitta said it starts by mapping out the entire data flow payroll process area and identifying focus areas where labor-intensive and manual intervention steps are being performed. Other best practices include identifying process improvement opportunities early and standardizing global templates.
“It’s not just payroll we focus on,” Bitta said. “It’s everything surrounding payroll. That’s what matters on how well we can do our job. We are the end-all and be-all of that data.”
Register for the free webinar “How to Do More With Less: An Introduction to Hyperautomation for Global Payroll” today. Available until 31 March 2022.
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Kiko Martinez is Associate Editor of Membership Publications for the Global Payroll Management Institute (GPMI) and the American Payroll Association (APA).