Robotic process automation (RPA) software provider UiPath has unveiled multiple product updates and strategic partnerships with IT consulting firms and MSPs. The updates, which surfaced at the Forward 5 conference in Las Vegas, reinforce UiPath's growing focus on managed services partnerships.On the product front, forthcoming UiPath enhancements -- expected to arrive October 31 -- involve:Also, the acquisition of Re:infer allows Communications Mining. The result: Organizations can "analyze emails, documents, chat logs, social messages, and more to create actionable business data and new opportunities for automation," the company said.
- UiPath Studio Web, a browser-based automation tool for software developers, will make it "easier to distribute automation at scale in an organization." Watch for new capabilities that simplify API connection to both in-house applications and specialized industry solutions, the company said.
- Continuous discovery capabilities that will help "customers discover the as-is state of processes and tasks, take action to optimize them, and continuously monitor them for ongoing improvement to achieve desired business outcomes."
- Automation Hub with ROI comparisons between estimated benefits and actual outcomes.
- Process Mining with "high scalability, improved performance, and new analytics for better process insights."
- Task Mining with a "new assisted mode that delivers a more complete view by allowing process experts to supplement their own knowledge with AI discovery."
UiPath: New and Expanded Partnerships
On the partnership front, UiPath announced:UiPath remains a fast-growing provider of RPA software. Revenue was $245.1 million in Q1 of fiscal 2023, up 32 percent from the corresponding quarter last year, according to a June 1, 2022 earnings statement. Still, UiPath reduced its headcount targets in a bid to improve its path to profitability, according to a June 2022 statement.Market forecasts suggest the overall automation software market will continue to grow rapidly. Indeed, 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.
