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You know you get those annoying flys that just won’t go away......
Ok one more answer only.....
Here's an starter list off the top of my head, but anonymised to keep individual company names out of this.
4 xxxx - our core Life/GI insurance platforms (some of them mainframe, all of the legacy)
yyyy - our core workforce management platform
10 ZZZZs - third party unit trust and management platforms
AAAA - our payment platform
zzzz- our actuarial calculation engines
etc etc etc (we are not a big organisation and have over 100 legacy systems). I know larger insurers with 500-1000 systems
As I said these are the systems our business people operate on and we have 1000s of people using the. Our situation is replicated across FS.
Finally - to be clear - I did not say BP is the only tool that can operated these systems.I know UiPath and AA can as well, but we are not going to work with multiple RPA tools, that only complicates things. MS Workflow, by their own admission, can only connect to limited apps (approx 100 modern ones). You finally mentioned Biztalk which is a server layer working with APIs. This too could work- if we were prepared to spend 10s or 100s of millions on enabling APIs across all our systems- for which there is no relative business case vs RPA. So our practical tool, for our needs, is RPA.
What will the next exciting step for us is the integration with the growing AI capability...
Finally I had to laugh when you you said "BP is not doing anything new" - well actually that is EXACTLY what they did. If you knew the industry - you would know they were first to market with a tool that does enables easy robotic automation across all systems in just the same way as a human worker, but with the controls around it needed for security.
Hey - ho. I must go back to my day job. bye..
Justcrusin....appreciate you taking the time to share your knowledge, Irene will want the last word no doubt, but I think you’ve said it just right! Valued post!
Well - about 90% of the core administration and financial applications in our IT estate for a starter. BP is designed to work with any system that a worker can log into.MS Workflow is really for small scale single user (modern) applications. The real scale opportunities are in older systems where we and the wider industry has 10s of 1000s of people (many now in India) cutting and pasting between these systems that don't natively talk to each other and cost a fortune to update. These RPA tools need orchestration, access (security) management, audit tracking and more. You clearly don't work in operations, as you would already understand this, so I suggest it's not worth speculating on what systems do and don't meet the needs of the businesses using RPA.
Irene,
You have given us your views as a "software engineer".
Let me give you my view as a head of operations for a major Financial Services outsourcer (and ex programmer). There is no way I could get an significant headcount benefits from the Microsoft Product. It only has a limited set of standard applications it connected to and has limited access and audit controls. Running ANY organisation with Customer Data and especially in Financial Services at scale needs these capabilities. In one banking team we have already implemented 100 BP robots to work on our core banking applications (MS can not do this) and this is working very successfully. We are now rolling out across the business.
Do not get confused around visual capabilities vs real ability to automate across legacy systems.
I as a real early user I can only see BP use continuing to grow exponentially.
Don’t waste your breath Malcom. I’ve seen some very obvious derampers over the years. Irene is up there with the best of them, BP has from the start proven everybody wrong. If I had a pound for every time someone said Prisms Market cap was over baked, that it would soon come back down to earth. Well I wouldn’t need to be investing. And much like ALL the others, Irene will also be proven wrong. Let’s see where this is at Christmas, £28 -£32 I expect
AWS is a software business, as are a whole host of others. Anyway, will see how it goes.
Irene, Apologies if I offended (was just joking). Comparison to Amazon was to point out that initially some enterprises post a loss until established. Don't think they're just a bookseller anymore -
https://www.theguardian.com/technology/2018/jul/26/amazon-profit-second-quarter-2018-advertising-cloud
"Brian Olsavsky, the company’s chief financial officer, attributed the quarter’s success to accelerating growth in Amazon’s “most profitable areas”, particularly the cloud-computing division, Amazon Web Services (AWS)."
"The company drew $1.64bn in operating income off $6.1bn in AWS revenues, compared to $1.83bn in operating income off $32.1bn in North American net sales."
But that's an aside, will have to agree to disagree regarding BP (market cap over £1Billion (and the value of something is what someone is willing to pay)) - There's risk in this for sure, but we'll see how it goes in the long run.
Serious questions:
Are you a Chartered Engineer?
How many years experience do you have?
Which University did you attend?
Amazon was loss making for a while - hit 1 Trillion USD recently I think (not that I'm saying BP will go that big). I look forward to "KrappSoft" when you enter the market with your product. Might have a fair wait.
Like a record on repeat. You’ll be talking about macros again in a minute. As it was mentioned previously but left unanswered by yourself... why if so easy to replicate have you not done it yourself?
All the thousands of people who have invested millions into this company. And not one of them was smart enough to know they have a product that can be found for free and knocked up in 30 minutes. Thank goodness your here to make us aware irene (eye roll)
IreneKrapp, It's market cap is still over £1 Billion - perhaps they should just pack in an use the bundled MS product? Yes, there's competitors (perhaps that shows there's a market?) - check the partner list - https://www.blueprism.com/partners - perhaps they're just wasting their time...
IreneKrapp, just think you could be sitting on a goldmine. What's BPs market cap at the minute?
Just a thought. As it's only half an hours work and you're in the business, why don't you replicate a similar product and sell it cheaper for competitive advantage? A bit like when compaq cloned the IBM PC Bios.
Why is BP up there in the Gartner reports etc if it can be knocked up in 30 minutes? I suspect because it's a bit more than that, plus surely there's a fair bit of due diligence from the major investors?
Your opinions are very negative, almost as if you have an agenda, wouldn’t it be far more beneficial spending times on BBs your actually invested in
Why are you here Irene? Just curious
IBM seem to like Blue Prism
https://www.blueprism.com/videos/ibm-and-blue-prism-driving-a-digital-transformation-with-rpa-and-watson?utm_content=77493102&utm_medium=social&utm_source=twitter
and ABBY will enable OCR
https://www.blueprism.com/news/blue-prism-and-abbyy-partner-to-integrate-intelligent-optical-character-recognition-ocr-capabilities-with-enterprise-grade-robotic-process-automation-rpa
seems like a long, long way ahead of an Excel macro
and does an Excel macro have OCR?
Still ~ £22 which is a fair increase on 6, 12, 24 etc. months ago. Gut feel from 23 years in IT, is that they'll get bought out by some giant like Oracle/SAP/IBM/etc.
I hope it won't happen anytime soon. I'll be happy to hold BP shares for a very long time (why not 5-10 years). No rush to sell.
I'm kicking myself here, completely missed this on the rise, still interested in getting in at some point but don't think there any going to be many drops/opportunities now
woodtiger: thanks for the link very interesting piece.
Saw this article today:
https://www.linkedin.com/pulse/why-top-3-rpa-vendors-all-acquired-next-24-months-kloster-iii/
I don't hold (but been kicking myself since 450 level and waiting for an entry which hasn't really presented)
First heard of this company when I was doing executive search in the technology outsourcing arena. Wish I'd had the courage of my convictions! What a story.
Often stop by this board to check progress. Always amused by IreneKrapp who can't see the wood for the trees.
Good luck to all holders.