Two weeks ago we announced the merger of RPA and Process Mining together with UiPath at Forward III in Las Vegas. This will bring great changes, which are challenging and exciting for both companies and promise the start of a new phase in process automation and improvement.
As the CEOs of ProcessGold we’ve taken many decisions, yet this one was the most critical decision we have had to make for the future of the company. Taking on new roles within UiPath, we are excited to embrace this challenge and count on the support of the various teams across both organizations.
How it all started
Of course, we both knew UiPath for a while. It’s a well-known company for anyone who considers themselves tech-savvy. Indeed, today UiPath is the recognized leader in RPA, first Romanian tech unicorn and one of the best workplaces of 2019 by Inc. We must admit their rapid growth is unique and fascinating in the market.
Besides seeing a lot of presence on LinkedIn, last year UiPath was often appearing in various news and online sources as a rising star of RPA. The things they do are clearly impressive, and we were immensely happy when the opportunity to discuss a deeper strategic partnership with them arose earlier this year. As conversations began, it quickly became clear that an acquisition was the way to go.
The Acquisition idea
Out of all the advantages this merger brings to both sides, there are 3 main reasons for us to team up with UiPath:
- The time for us to grow has come;
- RPA and Process Mining are meant to be together;
- ProcessGold and UiPath cultures are close.
First, alone as ProcessGold we are quite small, and despite having a great unique product, we were lacking sales power. Like any software company in a novel market, we aim at growing to become a major player in the process mining industry, and such goals require some serious investment. For a young, ambitious company like ours, the acquisition is a logical next step in our journey. Therefore, by partnering up with UiPath we foresee an opportunity to leverage the breadth of their reach in helping us scale our business while we can focus on what we do best – engineering and product development.
Second – RPA and Process Mining are like peanut butter and jelly. Before working on an RPA project, you want to scientifically plan the automation of your processes and after implementing RPA understand how to monitor and improve your automated processes. This is easily done with the ProcessGold platform.
By chance, functionality we offered was very complementary to UiPath’s functionality and fit together very nicely with the vision of what they were looking to achieve. Combining our platform with UiPath’s lets us scale the product to a complete end-to-end solution from discovering processes, to making them more efficient through redesign and automation, and then monitoring and measuring the improvement. Together, we can really enable these capabilities for our customers.
Last, but not least – the culture. It is incredible luck to team up with a company that lives by the same values. Since the first meeting with UiPath we’ve noticed several similarities in the way we treat both employees and customers. From an employee standpoint, we strive to make the workplace a fun place with a focus on collaboration and creative problem-solving. On the customer front, we both truly want to make products that address our customers’ needs and try to be as flexible as possible in order to do so. We think we found a great team within UiPath, with brilliant people and a culture that easily fits ours.
Major focus on clients
Talking about the changes existing and potential clients will face, the main advantage is that now it will be possible to implement a full process improvement cycle. Therefore, you get a complete package: use Process Mining and Task Mining for identifying RPA opportunities, use RPA to increase process efficiency and get back to it with Process Mining to monitor changes and find the next opportunities for improvement.
The combination of ProcessGold’s Process Mining platform with UiPath’s Task Mining (Explorer) and digital workforce (RPA) will give you the full overview of business processes, all tasks executed, timings, productivity, quality, etc. Implemented once, the two techniques are meant to be constantly used for process optimization.
Yet another big focus – on employees
As Roel likes to say – nothing stays the same forever, and culture, as a non-static thing also changes and evolves with time. Indeed, there are some changes that we will have to face. The positive part is that the two companies’ cultures are quite similar, therefore we predict it will feel as we’d become part of a bigger family.
UiPath pays great attention to its culture. As you might know, they were recently recognized for the Happiest Employees and Best Benefits. More than that – CEO Daniel Dines constantly talks to us about how important it is for him being true to core values, and how his initial idea was lying in the creation of a place where he would like to work himself.
As ProcessGold we care for the freedom of each employee to come up with innovative solutions and allow space for creativity. We value honesty in the way we work with each other and our clients. In fact, one of UiPath’s core values – being humble is applicable to ProcessGold too. And well, we cannot not mention how much it matters for us to have fun at work!
We both strongly believe some things are going to change, there is always room for learning and improvement. But we only look at it from a positive side and encourage our teams to do the same. After all, we are now hoping to dedicate more time to what we love, chasing the dream of becoming one of the top players in Process Mining.
What will happen to the product?
By joining forces with UiPath we have a great opportunity to accelerate our product development, so we expect to scale big time. We will look to grow our engineering team to cope with functionalities that are already aligned in the roadmap. Specifically, we want to build off of a very strong core Eindhoven team, and nurture our relationship with the Technical University of Eindhoven (TU/e), where Process Mining had its start and still produces most of the innovative research in this field.
During the next few months our focus will be primarily on RPA integration as we look to streamline the ingestion of robot logs and offer the ability to visualize hybrid processes in which people and bots work side by side. Our near-term focus will also be on enabling easier deployments such that we can more easily scale to meet the demand of UiPath’s 5,000+ customers and stay true to UiPath’s vision of democratizing technology by democratizing Process Mining. Over time, we will also look to leverage UiPath’s experience in AI and Machine Learning to improve our product and bring advanced capabilities to our new and existing customers.
Longer-term, we have already spent quite some time working closely with UiPath to achieve a shared vision for a full automation platform. We believe that this is the only true way to approach this market and we will be the first to offer such capabilities. Ultimately, clients are the ones to benefit from this merger – both companies are here to help them achieve maximal efficiency in their processes by helping them identify issues and automate them in a way that reduces errors, improves compliance, drives higher productivity and improves employee satisfaction.
That is to say, we are looking into becoming the biggest Global RPA and Process Mining vendor in the market.