Cyclone Robotics has been listed in the latest Forrester Landscape Report: Robotic Process Automation Landscape, Q3 2022 for a second year. As the industry’s trusted RPA provider, this report re-validates Cyclone’s position in the market once again as an established player with improved proven innovative capabilities, value propositions and market focus.
With the majority of its client base in Asia Pacific, Cyclone Robotics has a significant market share in this region. It provides localized industry expertise for its Asia Pacific-based customers, mainly from financial services, industrial products and utilities industries and has achieved over $15 million to $100 million in product revenue in FY2021.
Forrester defines RPA as: Technology that automates human tasks and orchestrates handling more complex tasks, with tasks and integration generally driven by the client, providing simple integration by coordinating actions between multiple systems. Customers use RPA software to automate repetitive, deterministic tasks such as manual data entry and data discovery but also to accelerate operations by leveraging RPA bots that trigger and complete simple actions.
RPA started more than a decade ago as an experimental, niche product that has proven its value for organisations of any size in any industry. The market will continue to grow with more advanced technology capabilities to benefit enterprises. Based on $2.4 billion global RPA software revenues in 2021, Forrester forecasted $3.6 billion RPA software revenues in 2022 and steady growth through 2025. Enterprises implement RPA to:
Lower cost of operations. Practitioners have told Forrester that they typically realize 15% to 30% savings in operations cost through the application of RPA. However, this is limited to areas where tasks are highly repetitive, deterministic and where RPA bots can compensate for typical human-worker shortcomings such as fatigue-induced errors, sick leave and annual leave, and emotional or cognitive distraction.
Digitize and automate processes. The COVID-19 pandemic has accelerated the value-add of RPA in digitizing paper-based processes that had to run even though employees could not be in the office. Most RPA software today offers sophisticated features to ingest, understand, process documents, other text- and audio-based content, triggering and even generating responses to employees and customers.
Improve employee and customer experience. RPA can take manual repetitive tasks away from the daily jobs of employees, allowing them to focus on higher-value work. This “attended automation” is controlled by employees and gaining more importance, as it increases employee productivity and improves employees’ experiences of their workplace and task structures. For instance, Cyclone Robotics has helped a leading APAC securities and investment management firm - Sinolink Securities – gradually adopt RPA from pilot projects to the wide deployment of RPA across 30 departments while achieving 100% accuracy, 24/7 automated operations, and saving more than 6,000 minutes of manpower every day. With this implementation, RPA helps to free employees from the tedium of repetitive labor routine works, allowing them to engage in higher-value and creative work ultimately creating better customer experience.
An increased demand for digitisation has accelerated the maturation of automation technologies well beyond RPA. Cyclone Robotics with their vision in delivering innovative capabilities to enterprises invests heavily in R&D of their product development towards hyperautomation, a term coined by Gartner that refers to the use of advanced technologies to deploy different automation capabilities. Cyclone's key differentiator is its RPA watchdog feature, which automatically generates special “watch-only” RPA scripts for targeted RPA process. Users can run this script periodically via the watchdog bot to scan target applications for version changes. Cyclone RPA’s AI capabilities are delivered via services like Cyclone Intelligent Robotic Interface (CIRI) and the Cyclone AI Skill platform. CIRI is an AI-enabled, attended RPA feature available on desktops and mobile devices for automating routine workflows. Another strength from Cyclone Robotics is their product strategy. Cyclone platform enables solution customization via low-code/no-code experience to automation builders, making it easy for solution providers to address the needs of enterprises.
End-to-end automation solutions at Cyclone Robotics enable them to provide the whole lifecycle manageability of digital transformation initiatives to enterprises, including phases of requirements discovery, design, testing, and operation & maintenance, creating a positive feedback loop that accelerates improvement. Furthermore, more mature enterprises are exploring COE-driven automation, which helps embed automation as an on-going suite of capabilities to address the speed and need for digital transformation.
About Cyclone Robotics
Established in 2015, Cyclone Robotics is a world-leading RPA provider and thought leader in hyperautomation with an average annual growth rate of 400% since 2019. The company now has more than 800+ employees across 24 subsidiaries and branches around the world, serving more than 1,000 global customers. In early 2021, Cyclone Robotics established its Singapore branch as its ASEAN HQ office for Asia Pacific expansion to empower enterprises from ASEAN, Japan, ANZ, and Middle East, across a wide variety of sectors to accelerate their digital transformation efforts with Cyclone’s full RPA products & services portfolio. The company has also setup its European HQ office in London, new branches in Indonesia and Amsterdam this year to further strengthen their global presence in America and the European market. Its explosive business growth, leading technology, strong team, advanced product ideas, and ability to seize business opportunities have been particularly recognised by investors and international authorities. Continuing to be favored by front-line capital, Cyclone Robotics earned USD 150 million in Series C financing in November 2021, setting a record for the highest single financing in China's RPA industry.