Muhammed Ali once said, “It ain’t bragging if you can back it up.” So on the third anniversary of the launch of our groundbreaking solution, Process Discovery, we’re doing a little bragging…with the numbers to back it up.
When Kryon Process Discovery launched in June 2018, we redefined what’s possible with RPA. Back then, companies spent as much as 3x their original RPA budget to pay for a team of on-site business consultants to record and analyze workflows manually and suggest automation tasks. This was a serious problem for the entire RPA industry. The manual approach to process discovery increased the Total Cost of Ownership (TCO) of RPA by a large margin. That kind of up-front cost was a significant barrier to widespread adoption of automation. It required an extensive amount of work before organizations could even use their investment. While other vendors were throwing around buzzwords, the Kryon team put our heads together and got to work on solving this problem. We knew three years ago that “automating the automation” was the way.
Kryon was the first RPA software provider to harness the power of automation and solve this challenge for our customers. Process Discovery replaced months of expensive consulting hours, enabling organizations to move from the discovery phase to implementing RPA 80% faster. What a game-changer!
With the debut of Process Discovery, the rest of the industry took note of our achievement. In fact, once they saw Process Discovery in action, everyone else was in a race to catch up with us. Organizations with deep pockets bought access to process discovery technology through acquisitions or partnerships, while others scrambled to create in-house solutions - some of which were assessment tools, while others simply recorded known processes. The common thread was that they didn’t discover anything at all. Our advice: accept no substitutes. The original is still the best choice.
From Months to Minutes
But, we didn’t stop there with our innovation. Kryon Process Discovery also highlighted how manual process assessment could be prone to errors. Human error is the most common cause of inaccurate data, and mistakes made during input can set off a chain reaction.
A year after its initial release, Kryon issued a more powerful, AI-driven version of Process Discovery. The integration of artificial intelligence and automated process discovery dramatically reduced the time required to understand organizational workflows and determine which tasks to automate. Accelerated implementation time, significant financial rewards, and increased workflow data made AI-powered Process Discovery a lucrative investment for enterprises. And, Kryon’s AI-powered algorithm means an increased accuracy rate of initial process identification to 90%. That means our customers can have greater confidence in their decision to automate and move easily into bot production and deployment.
Patents Make It Possible
With patents in technologies like computer vision and artificial intelligence, Kryon Process Discovery does more than observe and document workflows; it provides analysis, finds discrepancies, and makes actionable recommendations through insights, allowing immediate action. Most importantly, the addition of AI to process discovery offered the unprecedented ability for the software to understand the context of data, allowing bots to handle increasingly complex tasks.
Next, Kryon moved forward with adding the benefits of Process Discovery to create the Kryon Full-Cycle Automation suite, becoming the first vendor to offer a true, end-to-end RPA solution on a single, unified platform. Kryon customers can take the valuable insights and workflow data provided by Process Discovery straight into bot development, deployment, and orchestration. It was the next step in Kryon’s vision for the future of enterprise automation.
Numbers Don’t Lie
Okay, we’ve done some bragging. Now, here’s some third-party data that backs it up. Forrester Research evaluated the combination of Kryon Process Discovery and Full-Cycle Automation in a 2020 Total Economic Impact Study and found that it enables organizations to:
- Identify and automate 75% more processes through unattended RPA
- Reduce time spent on identifying and mapping each process by 80%
- Reduce time spent on developing each automation process by 50%
- Reduce time spent on maintaining bots by 50%
- Achieve ROI of 352% vs. 220% in the RPA-only scenario
Using real Kryon customers - Wyndham Hotels and Long-Term Care Group - as models, Forrester determined that a $2.9 million investment in Full-Cycle Automation pays for itself and nets $10 million in benefits over three years, generating 352% ROI. These savings are generated by increasing productivity, raising engagement, streamlining training, and reducing internal support costs through a shift toward an automation-oriented culture. What company in today’s business environment wouldn’t benefit from that?
In 2020, we partnered with Software AG to add process discovery to their already powerful suite, further increasing its value. This strategic partnership was the reason that Zinnov placed Kryon and Software AG in the Leadership Zone of its Zinnov Zones for Hyper Intelligent Automation (HIA) for the segment, “Use Case Discovery.” The Zinnov Zones rating is the industry’s first comprehensive assessment of over 35 Global RPA/HIA Vendors and Specialist players, which evaluated the companies’ overall prowess and scalability across the HIA lifecycle.
As noted by Nischay Mittal, Principal and Global Head of RPA at Zinnov: “The coming together of Kryon’s process discovery and RPA capabilities with Software AG’s process mining prowess has given rise to a fully integrated and seamless solution, aligned with Zinnov’s Hyper Intelligent Automation philosophy. The two players’ complementary products, as well as their mutual synergies, have resulted in powerful Use Case Discovery capabilities, which will enable all types of enterprises to effectively unlock automation at scale.”
First to Reach the Cloud
As we know, 2020 came with its own set of business continuity challenges. When remote work was at an all-time high and every industry faced an unpredictable future, Kryon released RPA as a Service, built to leverage the benefits of the cloud. Kryon’s Full-Cycle Automation as-a-Service is the only solution of its kind combining Process Discovery, RPA, and analytics in a cloud-based platform, taking the concept of automation to an entirely new level.
COVID-19 left a lasting impact on the world economy and drove home the uncertainty industries face--now and in the future. It is impossible to predict what the next threat to continuity might be, but it’s clear that agility and scalability are non-negotiable.
Cloud-based RPA significantly improves response time, especially in times of crisis. Remote support can immediately address issues as they arise, shortening or eliminating downtime. The cloud makes scaling from 50 bots to 5000, or 50,000, quick and easy.
A cloud-native RPA solution allows for even greater integration with legacy systems and emerging technologies. Switching to remote installations accelerates implementation, lowers TCO, and provides oversight and orchestration from anywhere. And in response to the global pandemic, remote installation prioritizes employee safety.
Instant Insights = Immediate Results
This need for flexibility and rapid response time drove Kryon’s next-gen product evolution, Real-Time Process Discovery. Now, instead of waiting for data compilation, analysis, and reporting, companies have a live view of exactly what’s happening at every level of the organization, plus the ability to make adjustments in real-time.
Real-Time Process Discovery supports thousands of users, observing and analyzing every detail to provide automation insights. In any group, anomalies are bound to occur. If 2000 employees perform the same task, some will do it differently. As Process Discovery maps, it finds any discrepancies in workflows and recommends the best path for automation.
What the Future Holds
The rapid evolution of Process Discovery over the last three years is a testament to its benefits. But we’re not done yet!
Where can process discovery go from here? We don’t want to give too much away, but we’re making a big announcement soon. Stay tuned for the next chapter of the Process Discovery journey.
In the meantime, there are A Million Reasons to Choose Kryon - take a look now.