The Robotic Process Automation (RPA) software market is finally turning its attention to MSPs. While Automation Anywhere, UiPath and other RPA software companies focus mostly on enterprise opportunities, startups such as ElectroNeek are now promoting RPA to MSPs (managed IT service providers).
The MSP opportunity is simply stated: RPA bots may allow partners and customers to automate manual business and technology processes. Within the IT services market, RPA may also help MSPs to further automate their own help desks, customer support operations, and cybersecurity services.
Among the wildcards to watch: Will RPA software further automate PSA (professional services automation), RMM (remote monitoring and management) and MSP documentation software -- or somehow disrupt those traditional MSP market toolsets? Frankly, it's too soon to say.
ElectroNeek Partner, MSP Tool Box Strategy
Among the developments to watch: ElectroNeek has hired ConnectWise veteran Jonathan Meyn as the head of partner success. Moreover, the RPA software company's Winter '21 release will include an MSP Toolbox to automate sales leads. The toolbox, ElectroNeek indicated, will allow MSP partners to:
- Tap into the flow of incoming leads;
- select prospects to target based on mutual fit; and
- control the progress of each lead processed during the sales cycle.
Moreover, the MSP Toolbox will enable ElectroNeek partners to issue their own RPA bot licenses, driving subscription- and consumption-based pricing for end-clients through the ElectroNeek platform, the software company indicated.
ElectroNeek did not announce pricing and availability for the Winter '21 release. Early adopters of the existing RPA offering include BDO, HLB, and Compasso, and enterprise clients such as Electrolux, Epiroc, Sage, and 7-Eleven, the software company said.
ElectroNeek is one of the first RPA software companies focused on the MSP sector. But apparently, it won't be the last. ChannelE2E is aware of at least one stealth-mode startup that is raising early stage funding and preparing to engage MSPs in the SMB market. We plan to share more details when the stealth-mode firm officially announces its business strategy.
RPA Software Market Forecast, Compound Annual Growth Rate (GAGR)
Demand for RPA software is booming. The global robotic process automation market is expected to reach $10.7 billion by 2027, expanding at a CAGR (compound annual growth rate) of 33.6% from 2020 to 2027, according to Grand View Research Inc.Amid the RPA market growth, multiple companies are acquiring RPA software providers and associated RPA consulting skills.
Even IBM is jumping into the action, as part of IBM CEO Arvind Krishna’s M&A effort to pivot the enterprise technology provider toward multi-cloud software that drives business automation.
Meanwhile, ElectroNeek want's to bring the power of RPA into the MSP sector. We'll be watching for potential partner updates.