Speed of execution and accuracy are the two biggest advantages of digitization. We can also re-use the workflow.UiPath also provide third party integration facility. We can plug in various cognitive and OCR technologies from ABBYY, IBM Watson, Google, Microsoft text analysis at the API level.Uipath allows server-based licensing which makes licensing process centralized and easy to use.UiPath platform is available with following three product suites −With the help of UiPath studio, we can design our automation processes in a visual manner. Speed of execution and accuracy are the two biggest advantages of digitization. Multiple types of workflows are available in Studio (sequences, flowcharts and transactional business processes) that help you build your automation workflow according to your needs.To create these workflows, you need activities (actions that you use to automate apps, such as clicking and typing). On the other side, right tool and skilled manpower are the two biggest challenges of digitization. With drag and drop functionality for all activities, it is the simplest RPA tool.There are lots of tools for robotic process automation, however UiPath is the most popular among them. That is why industry was looking for a fast and reliable solution which they got in the form of RPA tool named UiPath is a Robotic process automation tool used for Windows desktop automation. It is a centralized platform and hence responsible for managing the robots.
It is used to automate boring repetitive tasks. Many enterprises are adopting digital methods for their operation because they understood that future lies in routine operation being fully automated. Following its acquisition of both ProcessGold and StepShot in 2019, UiPath has become the first vendor of scale to bring together both According to Gartner market share data, UiPath advanced from #5 in share in 2017 to #1 in share in 2018.In September 2019, UiPath was ranked #3 on the Forbes Cloud 100.UiPath was ranked first in the Deloitte Technology Fast 500 on November 6, 2019.In April 2020, UiPath was named the top tech company and #2 overall in the Financial Times 1000, FT1000 ranking: Americas' fastest growing companies 2020In June 2020, UiPath was named to the CNBC Disruptor 50 2020.In August 2015, UiPath closed an initial seed funding round of US$1.6 million led by the Earlybird Venture Capital, with Credo Ventures and Seedcamp as backers.In April 2017, UiPath received a $30 million investment in one of the biggest Series A rounds of funding in Europe, led by Accel.
Following are some of the features of UiPath that makes it attractive for RPA −UiPath offers a complete solution with the help of three components namely Working with UiPath and creating robots is very instinctive because it uses drag and drop and flowchart activities. The company also now claims a valuation of $7 billion.On July 13, 2020, UiPath raised $225 Million at a valuation of $10.2 Billion
On the other side, right tool and skilled manpower are the two biggest challenges of digitization. We have also seen some basic concepts about RPA implementation. That is why industry was looking for a fast and reliable solution which they got in the form of RPA tool named UiPath. Previous investors Earlybird Venture Capital, Credo Ventures and Seedcamp also joined.On March 6, 2018, UiPath received a $153 million investment from Accel, On September 18, 2018, UiPath raised $225 million in the funding round led by CapitalG and Sequoia Capital at a $3 billion valuation.On April 30, 2019, UiPath raised $568 million in a Series D round of funding led by hedge fund Coatue Management, with participation from Alphabet’s CapitalG, Sequoia, Accel, Madrona Venture Group, IVP, Dragoneer, Wellington, Sands Capital, and funds advised by T. Rowe Price & Associates. It also eliminates the human intervention. UiPath is a global software company that develops a platform for robotic process automation (RPA or RPAAI). This chapter will explain key basics of UiPath and the related concepts.Many enterprises are adopting digital methods for their operation because they understood that future lies in routine operation being fully automated. It is very easy to learn too.UiPath is having an extensive activity library consisting of hundreds of pre-built, drag & drop actions.UiPath also offers high level security because we can store and encrypt the credentials on the centralized server.UiPath provides the facility of recording as well. It is founded in the year 2005 by the Romanian entrepreneurs Daniel Dines and Marius Tirca. It has special recorders for desktop apps, Citrix environment and terminal emulators which makes creating automation much faster and precise.It is having universal search feature which allows us to perform single search for all automation resources like libraries, activities, projects and workflows.UiPath offers its user a very powerful debugging which is very intuitive and flexible.UiPath promotes collaboration too, as we can store, protect and share scripts in MS Team Foundation and SVN. It allows us to use recorders, drag and drop widgets to model our robotic processes.The job of UiPath robots is to take over once you are done with the designing of processes in studio and executing all the processes with perfect accuracy.It is a browser based server application that helps us to deploy, schedule, monitor, manage robot and processes. The previous chapters gave us an idea about what RPA is all about.