RPA for Modern Enterprises is a big business opportunity!
RPA or Robotic Process Automation involves the computerization of tasks, which is making a disruptive change across industries globally. These tasks are often data-heavy and include, but aren’t limited to, data entry, transactions, and compliance. An estimate says that the RPA industry is estimated to be worth $3.1 billion by 2019 and $4.9 billion by 2020. The RPA market is estimated to reach $7.8 billion by 2024, growing at a CAGR of 58% from 2017-2024.
RPA involves organizations deploying robots, bots powered by AI and machine learning capabilities to handle tasks which are regular and repetitive like queries, transactions, calculations and records maintenance. RPA technology works with a software robot or bot which is programmed to operate like a human worker and can log into applications to manage data, calculations, complete tasks and log out. Business enterprises have to value the potential ROI which can be generated through RPA implementation before taking the robotic plunge.
Robotic Process Automation (RPA) enables organizations to create virtual workforces that increase processing efficiency, reduce errors and cut operational costs. However, even when enterprises recognize the need for RPA technology, many are challenged with identifying which business processes can and should be automated for optimum results. Mostly, B2B businesses can certainly harness this technology to serve their clients better. A survey says that 40% of large global organizations will use RPA to automate work activities.
Robotic Process Automation for the services industry is emerging as a major trend. Most of the regulated industries such as finance, insurance, banking, healthcare, and manufacturing can particularly benefit from RPA. It also provides affordable and faster way of dealing the problem of and adhering to the necessary industry compliance to maintain standards.
Kamal Sharma, CIO, Jay Kuling Group
Vijay Anand, VP - IT & Compliance, Visionary RCM Infotech India
Sachin Lokhande, VP- Information Technology, Pay Point India Network
Dheeraj Chawla, CIO - Shib Dass & Sons
Meheriar Patel, Group Chief Information Officer, Consultant – Jeena & Co.
1. Analytics insight
Established in: 2016
Analytics Insight is a media, branding and technology platform with a unique focus on insights, trends, and opinion from the world of data-driven technologies. We feature analysis on big data, business analytics, business intelligence, data management, IoT, cloud computing, and more.
Established in: 2015
AntWorks RPA platform understands every data type, and digitizes every bit of information for a diverse range of industries. AntWorks creates human-like bots in a code-free environment, to create, test and deploy bots to automate processes. AntWorks unique features include Code Free Bot Configuration, Accelerated Bot creation, Integrated Business rules, End to end automation, Digital workforce control center, multilevel access control and Dynamic wait sense.
3. Automation Anywhere
Headquarters: San Jose, California
Established in: 2003
Automation Anywhere is the global leader in RPA technology having offices in the US, Japan, Australia, London, Mumbai, Baroda and Bangalore is the world’s largest provider of RPA software. It employs both, software bots and human effort to get a lot of the repetitive work done across industries. Automation Anywhere delivers products and services in over 90 countries with 125+ global collaborations. Automation anywhere is geared to aid of high-end technologies such as RPA, cognitive and embedded analytics and is geared to serve AI-enabled solutions provider of automation requirements in industries such as finance, insurance, healthcare, manufacturing, technology, telecom, and logistics.
Headquarters: United Kingdom
Established in: 2011
Autologyx provides “Automation as a Service” with a view to enabling clients to automate their business processes easily. Whether it is about performing repetitive tasks or sorting advanced processes that require expertise, Autologyx has its cloud platform for process automation ready.
The company has recently bagged a major player, global law firm Eversheds Sutherland Ignite, are T-Mobile, Boeing, Luxottica, and Adecco as some of the esteemed clients. The law firm is harnessing Autologyx’s robotic process automation platform to produce 3,000 leases that entailed going through numerable mails. The intelligent automation technology has a wide range of business applications anywhere that people, data, systems and processes come together.
Established in: 2017
Automation Edge offers intelligent automation solutions integrating essential technologies such as AI, machine learning, ready bots and chatbots. The US-headquartered company has offices in Dubai, Germany and Pune and offers automation solution to financial services, aviation, transportation sectors. Automation Edge offers robotic process automation, IR process automation, RPA in cloud, ready BOT store and F3 RPA Bot. AutomationEdge – Intelligent RPA ensures that all operations across front office, middle office, back office and IT operations are done at faster speed and at reduced cost which can help increase top line and bottom line of the company significantly.
6. Blue Prism
Headquarters: United Kingdom
Established in: 2001
Blue Prism’s RPA software enables businesses to respond to changes quickly and cost-effectively by automating manual, rule-based, administrative tasks and processes. Blue Prism also creates virtual workforce comprising the operational teams or certified partners that use their robotic automation technology to enable processes. IT-governed frameworks and complex arrangements are harnessed to manage automation.
Organizations such as The Co-operative Banking Group, Shop Direct, RWE npower, Fidelity Investments, the NHS, and O2 employ Blue Prism’s technology to respond promptly to business changes through agile back office and administrative operations.
Established in: 2000
Companies today are striving to improve the experience of their customers in order to boost customer retention, irrespective of the technological approach involved. Robotic process automation is an excellent tool for more efficient customer relationships, freeing up employees from repetitive and tedious tasks.
Contextor streamlines business processes, automates repetitive tasks across industries. Its product offerings include Contextor Interactive Assistant, Contextor standalone BOT, Contextor Studio.
Contextor offers differentiated solutions in the RPA market including an enterprise tool that supports an industrial approach to process automation, RPA tool that works in a Citrix or RDP hybrid environment & interacts with all of a workstation’s applications simultaneously.
Established in: 2016
Erstwhile Spicy Cinnamon and a photo-sharing app, the company decided to turn to robotic process automation and renamed itself, Cinnamon. It was reported that the startup was successful in raising large funds from several renowned angel investors.
Cinnamon provides Deep Learning backed AI products. Cinnamon aims to extend human potential for more productive and creative work by utilizing the power of Artificial Intelligence. Cinnamon’s main offering is a smart scanner called the Flax Scanner, which can mine information from documents like emails and agreements. It has the ability to decipher the data and digitize it. It can then fill up a database or other systems automatically with significant accuracy.
9. Daythree Business Services
Established in: Information not available
Daythree transforms repetitive service processes, day-to-day manual work, and rule-based tasks into automated digital work with the help of software robots. The robots help in redesigning business processes to keep them simple and sound. The company claims that “We deliver benefits quickly where ROIs between 300–700% are common.”
Daythree is a leading business service provider with young and dynamic team combining knowledge and experience to improve operational outcomes for our customers. Designing from concept to process, and later to operations, we develop best practices to manage expectations of service level standards of the business and industry. They also offer IT and Knowledge Process services to help you stay head and shoulders above your competition. They have been the recipients of the GBS ISKANDAR Avant-Garde Award in 2017.
Established in: 2014
EdgeVerve Systems, a subsidiary of Infosys,a free version of its flagship AssistEdge automation platform. The AssistEdge Community Edition is designed for Robotic Process Automation (RPA) enthusiasts such as students, independent developers, Independent Software Vendors (ISVs) and enterprise users to self-learn automation and join the rising Artificial Intelligence (AI) revolution.
As RPA is moving from hype to reality, enterprises across industries are looking to deploy automation ‘at-scale’ to reap its benefits. This needs end-to-end change management programs and the availability of the right skills and platforms for individuals to understand how to automate repetitive and rule-based human processes. Built-in personal assistant ‘AssistEdge EVA Bot’ which executes, monitors and troubleshoots the digital workforce and it is easy integration with Alexa, Google Home Mini, Microsoft Bot Framework, IFTTT and cognitive APIs from Google or Microsoft .
12. IntelliCog Technologies
Headquarters: New Delhi
Established in: 2016
IntelliCog is an end-to-end consulting and outsourcing firm that uses RPA and AI to provide solutions. Their offerings include RPA consulting and integration capabilities with the help of their proprietary frameworks. Alliance Behavioral Healthcare has awarded IntelliCog a contract to deliver a Business Intelligence & Reporting solution in support of behavioral healthcare services.
They’re still a budding company that’s working towards ensuring zero-downtime and business continuity by deploying their knowledge, know-how, experience, and methodologies related to RPA and AI.
Established in: 1985
Kofax was established with the aim to automate and transform manual processes across front and back operations, thereby resulting in improved customer engagement, reduced operating costs, meeting compliance requirements, and accelerating business growth.
Kofax offers an array of software and solutions related to robotic process automation, business process management, multichannel capture and other important features that can be used on the cloud and on-premise. Kofax has over 20,000 customers across industries such as finance, insurance, healthcare, supply chain, government, BPOs, among others. Its products are available in over 70 countries.
14. Kryon Systems
Headquarters: New York
Established in: 2009
Kryon Systems boasts of four offerings namely process discovery, unattended automation, attended automation, and hybrid automation, all of which are related to RPA. The level of automation, obviously, varies in each offering with unattended automation requiring the least human input.
In the future, Kryon Systems aspires to create its own platform to be able to identify and automate a higher number of tasks and business processes and produce zero-error mistakes for immediate gains. Kryon’s Process Discovery is the first tool of its kind to give organizations complete visibility and clarity on the processes driving their business. All their AI-powered analytics engine identifies which of these processes can be automated to increase ROI, and provides insight to help organizations continuously optimize process execution and robot productivity.
15. NICE Solutions
Established in: 1986
NICE’s solutions for analytics, workforce optimization and case management integrate RPA by implementing NICE Robotic Automation. NICE helps organizations to map employee activities and processes, identifying where automation is the key to immediate and long-term optimization to free employees from routine, mundane tasks. The company has on boarded eight new technology partners since the launch of its open RPA platform in September and grown its network of global strategic partnerships to more than 40 leading organizations, spanning consulting, implementation, and training partners.
In-house cognitive automation innovations are in development and will be augmented by integrating with some of NICE’s strongest solutions such as text and speech analytics, workforce optimization and case management. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions.
Established in: 1983
Pegasystems is a cloud-based unified platform that promises “321% ROI in less than 12 months. 75% cost savings. 75% productivity improvements.” It is powered by RPA and AI. They produce software bots that automate menial jobs that go on forever and call them “productivity bots.” These bots help simplify and enhance employee experiences and focus on increasing the business’s ROI.
Pegasystems is the leader in software for customer engagement and operational excellence. Pega’s adaptive, cloud-architected software empowers people to rapidly deploy and easily change applications to meet strategic business needs. Their solutions also help businesses deal with unforeseen industry changes, new applications, process re-engineering, and collaboration. Further, they automatically find processes to optimize and mitigate problems even before they arise.
Headquarters: New York
Established in: 2016
Echelon | RPA delivers smart robotic process automation solutions that dramatically enhance employee performance and business outcomes across a comprehensive range of use cases and applications. The combination of AI, cognitive computing, big data and the best of Lean Six Sigma practices delivers unique and powerful capabilities to automate a range of mission-critical business processes, empowering the next-generation workforce to focus on more core activities that deliver greater value.
The company claims that it is different from other solution providers as it makes use of intuitive user experiences to improve productivity instantly. Their cloud-based solutions involve the use of robots that work with multiple vendors and offer quick, easy and low-cost delivery. It promises 500% ROI on productivity from Day 1 of its use.
Established in: 2012
Sanbot Innovation breaks through the traditional boundaries and is constantly developing new pioneering solutions. QIHAN Technology’s cloud-enabled intelligent service robots enable customizable applications across industries like healthcare, education, hospitality, security, and retail.
Sanbot Innovation is ready to set out with over 200 patents in technology including Machine Vision Recognition, Multi-axis Automatic Control, Big Data Analysis, and Cloud service to make numerous artificial intelligence solutions. These robots are powered by IBM Watson’s AI and feature Android SDK for open customization to improve customer experience and business growth.
Headquarters: United Kingdom
Established in: 2005
Sofotmotive’s RPA solutions help reduce business costs by 90% for regulated industries. Softomotive does this by providing a potent automation platform that empowers businesses to develop, manage and track their digital performers. They support all compliance regulation processes such as PCI-DSS, GLBA, FISMA, Joint Commission and HIPAA.
Softmotive enterprise automation “Processrobot”, focuses to eliminate costs, enhance productivity, and accelerate business performance. Softmotive’s RPA solutions are applied to Finance & Accounting, Insurance, Telecommunications, Health Care, Call Centres and Banking verticals. Softomotive offices are located in UK (London), USA (NYC), Greece and India.
Headquarters: New York
Established in: 2012
UiPath claims , its robots are about four times faster than other robots due to their ability to process screen changes in less than 100 milliseconds. It is on its way to becoming a leader in enabling back-office automation. UiPath having it’s global presence anda leading player in the segment of RPA, it says, “Versatile and scalable, the UiPath robot automates >99%, while most robots automate 70%, and some, around 80%.”
UiPath has closed its series C funding raising $225 million at a valuation of $3 billion. The round was co-led by existing investor CapitalG and new investor Sequoia Capital. Accel, which led both UiPath Series A and B rounds also participated in this round. UiPath caters to most of the industries including finance, insurance, healthcare, and manufacturing. UiPath is the most widely adopted Enterprise RPA platform, enabling the rapid design and deployment of software robots or “digital workers”.
Lastly, Robots are here to stay and robotics is gradually becoming omnipresent in every business vertical, from manning customer interactions at restaurants to detecting frauds in the banking industry. Robotics automation has come a long way and still has a mammoth path to take for the future. As more business enterprises and organizations turn to RPA to increase revenues, free their workers from regular tasks and reduce operational costs.
Anil Ranjan, Head-IT, Macawber Beekay
Virender Jeet – Senior Vice President, (Sales & Marketing / Products), Newgen Software
Nirvan Biswas, Chief Technology Officer, National Bulk Handling Corporation (NBHC)
Sanjay Mahajan, Chief Information Officer, Satin Creditcare Network
Sumit Singh, VP & CIO - Wockhardt Hospitals
RPA is yet another outcome of advancing technology. It is mainly used to automate business processes based on logic and controlled inputs. An RPA tool war, based on both price and product features will intensify and lead to the elimination of some less inefficient players. Private equity and venture capital backed RPA software organizations will be the first to crack. Very soon Microsoft, Google, IBM, Amazon, Alibaba and maybe even Tesla will launch preconfigured automation specific APIs through their cloud platforms, eliminating the hype around the cognitive capabilities and claims of some existing RPA software organisations. The above twenty companies into RPA automation is driving efficiency at enterprises as CIOs turn to RPA to tackle repetitive business tasks.