UiPath Emphasizes RPA Partner Ecosystem Expansion
RPA software enables companies to write code and bots that quickly automate what were once manual tasks across multiple departments – from IT service desks to HR, finance, customer support, and more. MSPs can leverage RPA software to automate their own businesses, and they can also offer managed RPA and bot services to automate retail businesses.
Details on the UiPath community and partner ecosystem
With growth in mind, UiPath described its latest milestones in the ecosystem and partners during a quarterly phone call with Wall Street financial analysts and during the UiPath DevCon 2021 virtual conference in June 2021.
Among the key takeaways, the UiPath community has more than 1.5 million members, says the RPA software company. The community includes “customers, partners, freelancers, enthusiasts and beginners” – although the company did not disclose the various levels of engagement within the community.
UiPath’s global partner base now includes more than 4,000 companies – a 35 percent year-over-year increase, CEO Daniel Dines said during a conference call with Wall Street analysts on June 8, 2021.
Recently expanded UiPath partnerships include global systems integrator Deloitte and distributor Ingram Micro, said Dines. Additionally, Ingram Micro has used the RPA software in-house to automate more than 100 processes and plans to do more, Dines said.
UiPath Ecosystem: Three Important Steps
UiPath takes three steps to further expand and strengthen the community. Efforts that showed up at DevCon 2021 include:
- A use case repository: This contains an “extensive list of use cases created by community members”. Use cases include an overview, details of what UiPath products and other applications are used, skill level, applicable industry categories, and top return on investment (ROI) drivers, the company said.
- UiPath Community Job Board: The job board ranges from freelance work to full-time employment in dozens of countries, the company said.
- Community Mentorship Program: The program connects mentees with mentors for at least six meetings and other types of support.
Other steps ahead of DevCon included partnerships to promote UiPath training centers around the world.
RPA Software Market: Competitive Landscape
Of course, UiPath isn’t alone in the RPA industry. In the midst of the rapid growth of the RPA market, several technology companies are acquiring RPA software providers and the associated RPA consulting skills. Major RPA software companies and bot software tools include Automation Anywhere, Blue Prism, Microsoft Power Automate, and ServiceNow, among others.
As part of IBM CEO Arvind Krishna’s M&A efforts to steer the enterprise technology provider to multi-cloud software that drives business automation, even IBM intervenes.
Despite the intense competition, UiPath remains in a rapid growth mode – both organically and through M&A. For example, in March 2021, the company acquired Cloud Elements, which is developing an API integration platform that may make more connections with third-party software.
And for the UiPath quarter that ended April 30, 2021, the company said:
- Revenue was $ 186.2 million, up 65 percent over the previous year.
- Annual recurring revenue (ARR) was $ 652.6 million, up 64 percent year over year.
- Net loss was $ 239.7 million, higher than the net loss of $ 52.8 million for the corresponding quarter last year.
- UiPath’s balance sheet – including cash, cash equivalents, locked cash, and marketable securities – rose to $ 1.9 billion as of April 30, 2021, the company said.
It was the first earnings report since UiPath’s successful initial public offering in April 2021.