UiPath, the vendor of Robotic Process Automation (RPA) technology, has converted the acquisitions of two companies into the launch of a new product. The RPA developer bought StepShot and the Dutch ProcessGold, and incorporated their technology into the new Explorer service.
The StepShot acquisition was announced in August. This company specializes in automating process documentation. The startup software is used by companies to capture, document and share processes. Important steps in the creation of robots are also automated.
The second company that UiPath has taken over is the Dutch process mining vendor ProcessGold. ProcessGold makes software that develops intelligence applications to improve business processes.
This is both in line with UiPath’s own technology: RPA. RPA is a technology in which software robots are used to automate common processes. The robot detects repetitive patterns and suggests how to automate them. This gives employees more time for other activities.
UiPath has incorporated StepShot and ProcessGold technology into its own platform, from which a completely new product has emerged. This is UiPath Explorer, which aims to give users a more detailed picture of all aspects of a business process and which parts of that process can be automated.
Explorer identifies the very first new business processes and then prioritizes them based on how important they are and on how much time can be saved. Then Explorer helps users automate those processes.
In this way, users should be able to set up a more scientific approach to plan their automation strategy.
Most valuable startup
UiPath is one of the biggest players in the field of RPA. In May this year, it became the most valuable startup in the field of Artificial Intelligence, after raising an investment of $568 million in a funding round.
UiPath was then worth $7 billion, making it more valuable than Chinese SenseTime. Until May, SenseTime was at the top with a value of 4.5 billion dollars.
The new Explorer service will be available later this month when the new version of the UiPath platform is rolled out.