UiPath Named a Leader in Everest Group’s Process Mining Products PEAK Matrix® Assessment 2024
June 13 2024 - 7:00AM
Business Wire
Company also named a Star Performer by Everest
Group in recognition of UiPath’s strong market impact and vision
for Continuous Discovery
UiPath (NYSE: PATH), a leading enterprise automation and AI
software company, today announced that for the fifth consecutive
year it has been named a Leader in the Everest Group Process Mining
Products PEAK Matrix® Assessment 2024.
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.
In its evaluation of UiPath Process Mining, Everest Group
reported that customers cited ease of use, process graph
visualizations, integrations with external data sources, continuous
monitoring capabilities, and ability to detect bottlenecks in
processes as strengths. The firm stated UiPath is an excellent
choice for clients seeking an integrated solution to handle a wide
range of use cases. The firm also found that UiPath platform
strengths include human-in-the-loop accuracy verification and use
of GenAI in document mining processes.
UiPath is the only process mining offering that enables
organizations to seamlessly discover, understand, optimize and
automate, and monitor complex processes to achieve their desired
business outcomes like working capital optimization, cycle time
reduction, or throughput time decrease.
“UiPath’s process mining product strategy is focused on helping
enterprises continuously monitor and improve their processes.
Strong year-over-year growth in its process mining business,
enhanced interoperability with its automation suite, and
investments in product innovation and generative AI capabilities
such as Autopilot have helped UiPath strengthen its position as a
Leader and emerge as a Star Performer on Everest Group’s Process
Mining Products PEAK Matrix® 2024,” says Amardeep Modi, Vice
President at Everest Group. “Its product vision and roadmap,
product’s ease of use, ability to visualize process maps and detect
bottlenecks, and customer support are some of the key strengths
highlighted by its clients.”
Whether in the cloud or on-premises, UiPath Process Mining
boosts success rates for automation and digital transformation. In
addition, UiPath Process Mining comes with a robust set of more
than 50 pre-built connectors to common systems like SAP, Oracle,
Salesforce, ServiceNow, and other large enterprise software to
allow customers to gain insights into operations by creating
corresponding process models.
“UiPath Continuous Discovery, including Process Mining, helps
organizations create a strong link between process analysis and
actionability. Continuous Discovery bridges the gap between
strategy, automation, and execution in line of business processes
for improved process performance and productivity,” said Graham
Sheldon, Chief Product Officer at UiPath. “I believe this
recognition of UiPath Process Mining by Everest Group reflects how
our integrated automation, AI, machine learning, and process
discovery offerings are changing the process transformation and
innovation landscape.”
UiPath Continuous Discovery provides an end-to-end experience to
identify, visualize, and diagnose bottlenecks with Process Mining
and drill into task-level detail with Task Mining. With this data
in hand, UiPath provides clear actionability for one-click
generation of automation, simulation to understand potential ROI
savings, and tracking/prioritizing process improvements with the
necessary documentation to make the ideas actionable. Integration
with Task Mining allows customers to access both system- and
task-level information and drill down from end-to-end process to
specific task steps/activities. This helps determine bottlenecks,
their impact on KPIs, and define the best action items to improve
the process.
Integration with Automation Hub allows you to centrally capture
and manage ideas, prioritized by impact and ROI.
With integration into Task Mining and Automation Hub, companies
can identify work from line of business system data and user
desktops and crowdsource automation ideas.
Recent UiPath Process Mining enhancements include:
- Data model editor: customizes the data model of your
process app for end-to-end insights of objects in business
processes.
- Conformance checking: empowers users to continuously
monitor whether the business process complies with
requirements.
- Process graph animation: allows users to better read,
interpret, and interact with the process graph to analyze and
act.
- Model-based process mining: reduces noise in the process
graph by showing parallelism and loops in an easy-to-understand
way. This function aligns with TRACY, a UiPath patent-pending
proprietary algorithm that simplifies process graphs and improves
users’ visual experience.
In addition, UiPath Insights allows for real-time monitoring of
automations and processes to measure and forecast the performance
of each automation.
Everest Group’s Process Mining Products PEAK Matrix® Assessment
is an annual industry assessment providing analysis and insights on
process 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.
Download the custom report here.
About UiPath
UiPath (NYSE: PATH) is on a mission to uplevel knowledge work so
more people can work more creatively, collaboratively, and
strategically. The AI-powered UiPath Business Automation Platform
combines the leading robotic process automation (RPA) solution with
a full suite of capabilities to understand, automate, and operate
end-to-end processes, offering unprecedented time-to-value. For
organizations that need to evolve to survive and thrive through
increasingly changing times, UiPath is The Foundation of
Innovation™. For more information, visit www.uipath.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240613511190/en/
Media Pete Daly UiPath pr@uipath.com
Investor Relations Allise Furlani UiPath
investor.relations@uipath.com
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