Today, Avasant unveiled its pioneering Technology Product RadarView™ with an initial report on Intelligent Automation (IA) Tools. The RadarView™ report covers the top 14 IA tool vendors that have shown mature capabilities, an enterprise-centric approach, and future-aligned investments and innovations.
The report recognizes the top vendors as follows:
- Leaders: Automation Anywhere, Blue Prism, NICE, UiPath
- Innovators: AntWorks, EdgeVerve, IPsoft, Pegasystems
- Disruptors: Kofax, Verint, WorkFusion
- Challengers: Jacada, Kryon Systems, Softomotive
Download Avasant’s complimentary 60-page report here.
Avasant Partner and Digital Transformation Lead, Anupam Govil, congratulated the winners noting, “The automation landscape is rapidly maturing and expanding into more complex and judgement-intensive use cases as enterprises shift focus to business impact and customer centricity. Intelligent Automation tools are key levers for enterprises in this journey and are playing their bit to help enterprises accelerate digital adoption.”
As enterprises rapidly embrace innovative automation solutions and start experimenting with Artificial Intelligence (AI), there is a lot at stake for tool providers as they try to differentiate by introducing innovative features and commercial models.
Key research findings include:
- Tool vendors deploy a variety of approaches to Intelligent Automation (IA), including data-centric, conversational Artificial Intelligence (AI) and Robotic Process Automation (RPA).
- Over 20% of IA tools revenue is already derived from industry-specific automation, as increased AI capabilities in IA tools are opening up judgement-based, business-critical functions to automation.
- With over USD 1.7B capital raised in the last 18 months, heightened investor activity and valuations are propelling IA tool vendors into a land-grab race, coming out with innovative incentive programs including free 1-year licensing for select modules, subsidizing pilots and reengineering annual terms (14 months instead of 12 months).
- 1200+ ready-to-use bots across major marketplaces, easier bot development and seamless integration is driving enterprise scalability.
- The majority of the IA tool vendor’s investment budget, ranging from 25-40%, goes toward enhancing functionalities and features of their products to stay ahead in a rapidly evolving digital ecosystem.
Avasant’s Research Director, Swapnil Bhatnagar, added, “As enterprises re-define their digital strategy and lookout for new and innovative solutions, their dependency on tool vendors for specialized automation needs has increased. To address this rising demand and to stay ahead of the game, tool vendors need to pull on 3 key levers, including commercial constructs, a partner ecosystem.”
Avasant is a leading management consulting firm focused on translating the power of technology into realizable business strategies for the world’s largest corporations. Specializing in digital and IT transformation, sourcing advisory, global strategy, and governance services, Avasant prides itself on delivering high-value engagements through industry-focused innovation and flexible client-based solutions.
Our seasoned professionals have an average of 20 years of industry-honed expertise, having conducted 1000+ engagements in over 50 countries. Avasant’s next generation consulting and advisory methods have made it the top-ranked firm in its class, with recognition from numerous organizations, including: Vault, NOA, IAOP, and Wall Street Journal.
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