Enterprises in Europe, US to up RPA spends in 2020: UiPath Forrester survey

Enterprises in Europe, US to up RPA spends in 2020: UiPath Forrester survey
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31 Jan, 2020

A survey commissioned by New York-based automation company UiPath has found that 66% of companies across the United States, United Kingdom, France and Germany will increase their RPA (robotic process automation) software spends by at least 5% in the next 12 months.

The artificial intelligence-based automation enables businesses to reduce costs, differentiate themselves in the marketplace and improve employee experience, Forrester Research said in the survey’s findings.

The Cambridge, Massachusetts-based market research firm surveyed 270 decision makers from operations groups, shared services, finance and other lines of business across the four geographies.

A gap in digital skills was a concern for employees -- 41% of the respondents said that their employees were concerned their existing digital skills may not match the requirements of their future jobs, while 53% said that employees were concerned or felt threatened by the growing complexity of the tasks they faced.

Read: Indians want automation of repetitive admin tasks they spend three hours on daily: Automation Anywhere

“By 2030, some jobs will be cannibalised, some will be created, others will be transformed – but only a few will remain untouched. To win in the future of work, businesses need to plan for automation’s disruption on every job role and level,” the joint report said.

UiPath closed a Series D funding round worth $568 million led by Coatue Management in April last year. 

Raghu Subramanian, the then chief executive of UiPath India, had said that the potential RPA held in areas such as infotech, financial services, healthcare and the government in India was massive. 

“We are committed to investing in India to realise our global vision of ‘A Robot for Every Person’ and create a talent base of over 5,00,000 automation-trained professionals,” he had said in the fundraise announcement.

Also read: India most satisfied with automation technologies: UiPath-Economist study

Earlier this week, UiPath tied up with over 150 universities and colleges in India in 2019 as part of its Academic Alliance Program. The programme has trained over 20,000 students and professionals in the country in automation technologies in a bid to meet the demand for RPA labour.

In August last year, San Jose, California-based Automation Anywhere had announced its plan to invest an additional $100 million in India over the next three to five years. In the same month, Warrington, United Kingdom-based Blue Prism launched the world's first RPA community targeting GCCs (global capability centres) of multinationals in India.