UiPath Named a Leader in Everest Group Task Mining Products PEAK Matrix Assessment 2023
UiPath ,
a leading enterprise automation software company, 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.
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