UiPath brings robots ‘to life’ through business-first approach
Under the slogan “a robot for every person” UiPath’s CEO and Co-founder Daniel Dines’ vision for automation takes a pragmatic approach and furthers Bill Gates’ 1980 Microsoft mission of “A computer on every desk and in every home.” While UiPath and/or any of its competitors are far from making this vision a reality, it certainly summarizes the company’s total addressable market. As UiPath executes on its vision, the company’s comprehensive portfolio of attended and unattended robots as well as a SaaS orchestrator solution meet current market needs for solutions addressing brokerage and management of structured and unstructured data across the front, middle and back office. Additionally, UiPath’s approach to automation through a business lens makes it an appealing vendor that can help consultancies and other alliance partners better target line-of-business leads, especially clients with backgrounds in Six Sigma and Lean methodology training.
While UiPath will continue to have the tough task of overcoming skepticism around the public perception that automation will eliminate jobs, educating the market on the broader ROI from the use of RPA, including increased productivity, improved accuracy and compliance, can help it counteract initial resistance and accelerate adoption. Use cases, such the one with a Japan-based bank that deployed 1,000 UiPath robots to optimize the work of 700 FTEs with the long-term goal of creating capacity for 4,000 employees and saving $500 million over three years, make for a tangible impact on operations and the bottom line.
As the pendulum continues to swing between hope for and fear of automation, accelerated by hype, UiPath’s value proposition and go-to-market strategy enables it to illustrate that automation is not a jobs killer but rather a jobs creator.
TBR attended the second annual UiPath Forward Americas conference in Miami. TBR interacted with executives from across UiPath and its partners and clients. With over 1,500 attendees, including 500 partners and client executives, the conference was three times larger than the first UiPath Forward Americas event a year ago. During the sessions, UiPath highlighted its exponential success over the past three years, with a fair dose of energy but balanced with humility. UiPath provided an update on its financial performance and portfolio road map and laid out new initiatives including the launches of UiPath Go, the Academic Alliance, the UiPath Venture Innovation Fund and the UiPath Partner Acceleration Fund. These new initiatives connected well with the discussions about the need for democratization of automation and collaboration among business leaders, IT and the partner ecosystem.