If there would be an easier way then these companies would definitely use it. A candidate usually has 5-7 interviews (if he is not failing the phone screen), which is 5-7 engineers spending at least 1 hour for the interview + 1 hour for the feedback. I am having 2-5 interviews per week, which means I spend between 4 and 10 hours per week just on hiring. If we could reduce this number we would definitely do it, as it's costing a loooot of money.
To be fair: there is some innovation and traction in those areas, s.t. some candidate s do a coding project at home and then present their solution (to reduce the number of interviews).