#USA #San Jose #Process Automation #AI Automation #Automation Anywhere

Automation Anywhere: Leading the Charge in Agentic Process Automation

Automation Anywhere, a premier name in AI-driven automation, has recently announced a remarkable achievement: its fifth consecutive non-GAAP profitable quarter. The company has not only maintained its leadership but has also witnessed significant growth in agentic process automation, fueled by a surge in customer demand.

Growth Trajectory

During the latest quarterly results, Automation Anywhere reported an impressive increase in its profit margins as well. The accelerating demand for AI Agents has effectively doubled the number of contracts in the third quarter, cementing Automation Anywhere’s status as the top player in the field. The company's innovative efforts in this sector include pioneering solutions that allow businesses from various verticals to implement tailored AI agents into their operations.

According to Mihir Shukla, the CEO and co-founder of Automation Anywhere, the evolution of generative AI from simple chat interactions to comprehensive business agents demonstrates its vast potential. "Organizations are beginning to recognize how agentic process automation can empower them, providing a substantial competitive edge while redefining operational capabilities in this fast-paced environment," he stated.

The launch of Automation Anywhere’s AI agent in June 2024 has ushered in a new category within the automotive process automation landscape. This groundbreaking solution not only contributes to measurable impacts on enterprises globally but also boasts over 70% of new bookings coming from their AI Platform clients. These offerings are significantly impacting industries such as financial services, healthcare, and manufacturing, as organizations continue to experience immediate efficiency gains and position themselves for sustainable growth in an AI-centric future.

Customer Interest and Partnership Success

In the third quarter, Automation Anywhere observed heightened interest among new clients for conversational automation powered by Amazon Q. This collaboration enables clients to streamline operations and transform traditional workflows into secure, agile processes that produce measurable business outcomes.

Rahul Patet, Automation Leader at Alight, emphasized the collaboration’s potential: "AWS and Automation Anywhere are paving the way for AI-powered enterprise automation by intelligently combining knowledge with LLM models to simplify complex workflows. We believe that AI-driven process automation will drastically change the way businesses operate in the coming years."

Key Business Highlights

• - The demand for AI agents increased twofold in the third quarter.
• - Continued double-digit growth in new ARR (Annual Recurring Revenue) clients surpassing the millions.
• - Achieved an outstanding success rate of 80% in transitioning from proof of concept (POC) to production worldwide.
• - The financial stability of Automation Anywhere remains strong, ending the quarter with significant cash reserves driven by robust free cash flow growth.

Recognition and Future Outlook

This quarter also saw Automation Anywhere receiving accolades from Gartner as an emerging leader in the market quadrant for AI-powered knowledge management applications. Additionally, the company reported an increased customer deployment of Amazon Q conversational automation solutions.

New strategic alliances, such as the one forged with PwC India, are expected to empower clients to enhance growth, productivity, and cost efficiency within their organizations. Furthermore, Automation Anywhere has been included in Newsweek's 2024 list of America's 200 Most Loved Workplaces, highlighting the company’s dedication to employee satisfaction and sentiment.

In conclusion, the third quarter for Automation Anywhere, which closed on October 31, 2024, marks significant strides in agentic process automation and AI-driven solutions. As a private enterprise, detailed financial information is not publicly disclosed, yet the company continues to lead the way in transforming the future of work through innovative automation solutions.