Art of the possible in business operations is the inspiring message from New York-based UiPath (NYSE: PATH), which believes in the transformative power of robotic process automation (RPA) to unlock growth and save time for their global clients.
“RPA is the productivity tool of the future,” says Boris Krumrey, Global VP Automation Innovations, who is working toward the company goal of a “world with a robot for every person”.
UiPath is the market leader in RPA - a software automation technology designed to let software robots take on manual, repetitive tasks and give time back to employees to focus on higher-value work. RPA adoption lies at the centre of an enterprise’s digital journey.
Some advanced robots can even perform cognitive processes like interpreting text, engaging in chats, and applying advanced machine learning models to help humans make complex decisions. “In essence, an RPA is an automation platform that emulates a human in a highly reliable way,” said Krumrey.
UiPath has Artificial Intelligence (AI) embedded into its software. According to Krumrey, RPA is easy to build, deploy and manage. “Just like people, software robots can do things like understanding what’s on a screen, complete the right keystrokes, navigate systems, identify and extract data.”
For the second consecutive year, UiPath - which has offices in more than 30 countries - has been named a Leader and the vendor positioned highest for the ability to execute in the 2020 Gartner Magic Quadrant for RPA. It is also named as a Leader in the Forrester Wave for RPA and Everest Group’s Process Mining PEAK Matrix. The company, founded in 2005 in Bucharest and has a market cap of $38 billion, and its customers include eight of the Fortune 10 companies and 63% of the Fortune Global 500 companies.
Krumrey leads a team that helps design automation innovations for UiPath’s customers, which include Spotify and Autodesk.. UiPath focuses on providing support to businesses investing in automation to hand back time to employees and leverage growth.
“We create a new digital automation layer on top of applications and their corresponding human activities to backend operations. This is mind blowing when you think about how much time it will save.
“As automation can be quite an abstract concept, we show our customers the art of the possible with Automation in the UiPath Immersion Lab - where seeing really is believing. We can show our customers how much further technology can take them with intelligent robots in HR, supply chain, or finance.
“We help them build breakthrough automation prototypes and that’s where we apply our method of Automation Design Thinking. That helps to make it a human-centric approach and we map the solutions to the challenges throughout this journey with automation technology,” said Krumrey.
UiPath is a close partner of PwC, working together to create gains in productivity and cost savings in retail, transportation, and the oil and gas sector. “We have a great relationship and PwC shares our vision of a robot for every person in their own company,” said Krumrey.