The rise of robotic process automation has been spectacular; according to Forrester, the market will reach $2.9 billion by 2021. And while few would argue the success of RPA, doubts have arisen around scalability, ROI and security.
Flying in the face of these doubts, Blue Prism has revealed it closed FY2018 with revenue up 125% to £55.2m. This, it says, is from widespread customer adoption (which has more the doubled in 2018) across dozens of vertical industries, in 67 countries.
Currently, more than 1,000 global organisations are using Blue Prism’s solutions. To help sustain and accelerate this growth the company will use it additional £100m funding to support R&D, sales, marketing, customer experience, and global expansion.
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Unique selling point
With some commentators critical of RPA’s scalability, saying that the general lack of a ‘one-shop-fits-all’ approach to RPA has hindered company-wide implementation, perhaps owing to their success, Blue Prism has attempted to distinguish their solutions as being beyond “traditional RPA”.
In January this year, it unveiled its connected-RPA vision, promising users a compelling all-in-one, complete automation platform which includes AI and cognitive features already built-in.
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“We’ve painstakingly proven ourselves repeatedly in some of the world’s most heavily regulated industries,” said Alastair Bathgate, CEO and co-founder of Blue Prism. “We set out with the ambitious goal of democratising IT more than a decade ago, which is now starting to reach to fruition via our connected-RPA offering.
“Our market momentum will only increase as we continue to build out automation capabilities enabling easy access to leading-edge cloud, AI and cognitive capabilities.”