COVID-19 spurs enterprise awareness of robotic process automation value

COVID-19 spurs enterprise awareness of robotic process automation value

Robots are helping bankers process loans and hospitals handle coronavirus tests, proving that RPA can help solve the world’s problems without the need for headlines or acclaim. Not surprisingly, adoption is on the rise.

RPA helps hospitals process COVID tests faster, gives staff more time with patients

By implementing RPA in hospitals, UiPath was able to accelerate turnaround times for COVID testing and reduce the workload of hospital staff, allowing them to focus on patients instead of paperwork.

“We’re seeing an adoption that is more top-down, an adoption that is starting from the C-level suite,” he said. “I believe that while automation is slower to adopt and it requires a lot more investment to adopt, it’s going to dominate the agenda post-COVID.”

Data shows the stickiness of RPA

Data from tech market analyst Enterprise Technology Research supports the potential for RPA post-COVID. “If a customer has tasted the benefits of RPA and automation and realizes what it can do for their business, they’re going to maybe double down on it, especially in a time when revenues might be under pressure,” Vellante stated.

In July 2020, UiPath raised $225 million in late stage funding, raising its value up over $10 billion. The company has over 60 customers at the million-plus spending level; 800-plus spending over $100,000; and a consistent net expansion rate of over 140% for “many quarters,” according to Dines.

Now 15 years old, the company has matured from offering products to a complete platform. “The power of the platform, in this particular instance, comes from the integration of all pieces,” Dines said. “Put yourself in the shoes of a big enterprise: Instead of buying 20 different products, different licensing agreements, different maintainers staff, different teams to support them, you just have one. And you have the guarantee [all the pieces] work very well together.”

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