UiPath has experienced 150% year-over-year growth in task-mining clients
UiPath (NYSE: PATH), a leading enterprise automation software company, today announced it was named a Leader in the Everest Group Task Mining Products PEAK Matrix® Assessment 2023, the latest recognition of UiPath’s strong market impact and vision for Continuous Discovery, which combines best-in-class, AI-powered task analysis and automation.
The Everest Group Task Mining Products PEAK Matrix® Assessment 2023 evaluates the competitive technology landscape of task mining technology and key task mining trends. UiPath was named a Leader, and the report stated, “UiPath aims to empower enterprises to gain a comprehensive understanding of their business processes and achieve a state of continuous discovery and improvement by combining task mining, automation, process mining, and communications mining.”
The report states, “Its unassisted task mining leverages AI/ML algorithms to classify tasks, construct process maps, and determine the optimal variant.” The report also states that UiPath is a top provider by task mining clients, and that UiPath has experienced 150% year-over-year growth in task mining clients.
“Continuous investment in product enhancements, integration with its automation capabilities, and strong YOY growth in its task mining revenue and client base have helped UiPath emerge as a Leader on Everest Group’s Task Mining PEAK Matrix® Assessment 2023,” said Amardeep Modi, Vice President at Everest Group. “Ease of setup and implementation, scalability, and product support are some of the key strengths highlighted by its clients.”
UiPath Task Mining is part of UiPath Continuous Discovery, which allows organizations to mine data from business applications, desktop activities, and conversations for a holistic view of end-to-end processes. Continuous Discovery then allows organizations to understand the root cause of bottlenecks and inefficiencies to focus efforts on high return-on-investment (ROI) automation and improvement opportunities. Using this method, organizations can keep processes in the most optimized state.
“The Discovery Suite of tools in the UiPath Business Automation Platform allow customers to continuously uncover the highest ROI opportunities from every data source and prioritize automations by the largest impact on business outcomes,” said Graham Sheldon, Chief Product Officer, UiPath. “UiPath Task Mining accelerates process improvements by providing an objective, data-driven picture of how people work. With centrally managed data capture and AI-powered analysis, companies can then execute on automation ideas to increase efficiency and improve tasks.”
This year, UiPath was also named a Leader for the fourth consecutive year in the Everest Group Process Mining Products PEAK Matrix® Assessment 2023. UiPath Process Mining transforms transactional data from backend systems such as SAP, Salesforce, ServiceNow, and Oracle into visual interactive dashboards. The dashboards provide a view of the as-is processes and KPIs, allowing users to identify process bottlenecks or discrepancies, and leverage AI to understand the root-causes or possible risks. Process mining reveals the current state of the process, enabling organizations to identify automation and improvement potential in end-to-end business processes. UiPath is the only process mining offering that enables organizations to seamlessly discover, understand, take action, and monitor complex processes to achieve their desired business outcomes like working capital optimization, cycle time reduction, or throughput time decrease.
Everest Group’s Task Mining Products PEAK Matrix® Assessment is an annual industry assessment providing analysis and insights on task mining vendors and products to assist enterprises in their selection processes. The findings—which are based on an evaluation of vendors’ impact on the market, overarching vision and product capabilities and support, innovation, and significant performance improvement—are seen as benchmarks in standards and quality for the industry. As part of the evaluations, vendors are classified into Leaders, Major Contenders, and Aspirants, based on key dimensions. Everest Group defines Leaders as companies with strong growth momentum in the task mining market, that continue to differentiate with innovative features, and that focus on expanding their service and technology provider partnership ecosystem
