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Blue Prism is the trading name of the Blue Prism Group, a UK multinational software corporation that pioneered and makes enterprise robotic process automation software to eliminate low-return, high-risk, manual data entry and processing work.
Blue Prism is headquartered at 2 Cinnamon Park Crab Lane Warrington WA2 0XP, UK [1] with regional offices in the US and Australia.[2][3] The company is listed on the London Stock Exchange AIM market.[1]
History[edit]Formation[edit]
Blue Prism was founded in 2001 by a group of process automation experts to develop technology that could be used to improve the efficiency and effectiveness of organisations.[4][1] Initially their focus was on the white collar back office where they recognised an enormous unfulfilled need for automation. The company was co-founded by Alastair Bathgate and David Moss to provide a new business-led, more granular and economic approach that today is known as robotic process automation, or RPA.[1][5]
In doing so Blue Prism created a digital workforce. In 2003 Blue Prism's first commercial product, Automate, was launched. In 2005, version 2 of Automate was released with features for large scale processing. Co-operative Financial Services began using Blue Prism software in 2005, to automate manual processes in customer services.[6]
Robotic Process Automation[edit]
Robotic process automation (RPA or RPAAI[7]) is the application of technology that provides organizations with a digital workforce that follows rule-based business processes and interacts with the organisations systems in the same way that existing users currently do.[8][9][10][11][12][13][14] IRPA is the use of software bots performing pre-defined steps on computer systems, rather than human employees performing the processes manually.[15] Blue Prism coined the term 'robotic automation' in 2012.[16]
RPA is a growing industry and is expected to reach $3.11 billion by 2025.[17] It has been used to handle the requests generated by the General Data Protection Regulation[18] ;by Tokio Marine Kiln for back-office transaction framework;by the nutrition company Fonterra to fix quantity mismatches in planning software SAP[19] ;and by Milaha for the entry, processing and transfer of data.[20] The main competitors in the robotic process automation market include UIPath and Automation Anywhere.[21]The independent market research company Forrester Research identified these three companies as leaders both in terms of their market presence as well as the quality of their offering in a 2017 study.[22]
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In April 2018, industry analyst firm Wikibon attempted to test robotic process automation platforms noting: 'we contacted three RPA vendors â Automation Anywhere, Blue Prism, and UiPath â to test and validate each of these propositions. Only one vendor, UIPath, responded.[23]
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An October 2018 study by Grand View Research, Inc. said that the key companies in the RPA market included: Automation Anywhere, Inc.; Blue Prism Group PLC; UIPath; Be Informed B.V.; OpenSpan; and Jacada, Inc.[24] In 2019, Gartner released its 'Magic Quadrant' for RPA, and Blue Prism was one of the leaders in the market.[25]
Flotation[edit]
On March 18, 2016, the company floated on the London Stock Exchange AIM market, becoming a public company.[26] With a market capitalization of £48.5 million, Blue Prism underwent an IPO in March 2016.[27] The company's shares rose 44 percent on the first day of trading on AIM, under CEO Alastair Bathgate.[28] Customers include O2, Co-operative Bank and Fidelity Investment Management. By November 2016, it had offices in Chicago and Miami, as well as the United Kingdom.[29]
On January 6, 2017, Blue Prism announced it would open new offices in Austin, Texas, while remaining based in London. At the time, it employed 86 people worldwide.[30] In March 2017, a group of shareholders sold stakes in Blue Prism. At the time, Blue Prism remained based in Merseyside.[27] In June 2017, Blue Prism announced that a new version of its software would run on public clouds such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform. Previously, the software had run on customers' own servers.[31]
In 2019, Blue Prism announced changes to its platform and the issuing of new stock. It included a new AI engine, an updated marketplace for extensions, and a new lab for in-house AI innovation.[32]
Blue Prism CertificationBlue Prism technology[edit]
Blue Prism is built on the Microsoft .NET Framework. It automates any application and supports any platform (mainframe, Windows, WPF, Java, web, etc.)[33] presented in a variety of ways (terminal emulator, thick client, thin client, web browser, Citrix and web services). It has been designed for a multi-environment deployment model (development, test, staging, and production) with both physical and logical access controls. Blue Prism RPA software includes a centralized release management interface and process change distribution model providing high levels of visibility and control. Additional control is provided to the business via a centralised model for process development and re-use. Blue prism records every system login, change in management action, and decisions and actions taken by the robots to identify statistics and real-time operational analytics.[34] The software supports regulatory contexts such as PCI-DSS, HIPAA and SOX, with a large number of controls in place to provide the necessary security and governance.[35] All of the process coding is automated on the back end, allowing even non-technical users to automate a process by dragging components into an interface.[36]
In 2016, Blue Prism received one of the top honors at the AIconics Awards, named as The Best Enterprise Application of AI.[37][38] In 2017, the company was named one of MIT Tech Reviewâs 50 Smartest Companies and was the winner of the UK Tech Awards.[39]
Blue Prism supports only 'back-office' unattended robots and does not offer attended 'front-office' robots.[40] In 2019, Blue Prism announced its idea for connected-RPA. Connected-RPA is the offering of an automation platform with AI and cognitive features built in.[41] It includes features like a Digital Exchange, with online access to drag and drop AI, machine learning, and cognitive and disruptive technologies; a web-based tool that reduces the time to prepare for a RPA deployment; and an online community for sharing knowledge and best practices.[42] The Digital Exchange gives customers and partners the ability to create and share tools that can be used with Blue Prismâs software. To encourage innovation, Blue Prism has an AI engine for building connectors to advanced AI tools from Amazon, Google, IBM, and other AI platforms.[43]
The digital workforce[edit]
Blue Prism's digital workforce is built, managed and owned by the user or customer, spanning operations and technology, adhering to an enterprise-wide robotic operating model. It is code-free[44] and can automate any software in a non-invasive way. The digital workforce can be applied to automate processes in any department where clerical or administrative work is performed across an organization.[45]
Business and markets[edit]
Blue Prism has been deployed in a number of industries including banking, finance and insurance, consumer package goods, legal services, public sector, professional services, healthcare and utilities.[46]
Its RPA software has been purchased by companies such as Coca-Cola, Pfizer, Prudential, Sony, and Walgreens.[47][48]
In 2018, the UK water company United Utilities purchased robots from Blue Prism in order to use RPA to streamline its processes and increase efficiency.[49] The robots monitor signals and alerts on the water network and automatically inform engineers as to any issues.[50]
Blue Prism Software Inc Reviews
The company IEG4 worked with Blue Prism to improve the handling of benefits claims with more efficient data processing.[51]
Blue Prism Austin
The finance company Fannie Mae used an RPA platform from Blue Prism to automate a review and notification process within its mortgage operations area.[52] Another finance institution, Mashreq, worked with Blue Prism to automate multiple functions, including banking operations, compliance, customer care and help desk operations.[53] In the healthcare industry, Ascension Health has used Blue Prismâs RPA technology for back-office functions, and to manage the licensure and certification of clinicians.[54]
References[edit]What Is Blue Prism
External links[edit]Blue Prism Software Inc Download
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