ElectroNeek Robotics, an award-winning RPA platform hailed for its mid-sized businesses and Managed Service Provider-focused model, saw its license revenues soar more than 400 percent during 2020.
Recently, ElectroNeek’s valuation stood around $105 million when it raised $20 million in a Series A round of funding in June 2021. ElectroNeek is a strong player in process automation and boasts more than 250 clients globally, including Fortune 500 companies.
This article will discuss why ElectroNeek is the best RPA vendor for MSPs when it comes to building, managing bots, and enhancing RPA workflows. Furthermore, we will reveal how MSPs can take advantage of the vendor’s robust ecosystem and free bot licenses to grow their business exponentially.
First things first: Why ElectroNeek is so attractive to investors
Within the enterprise technology sector, RPA is among the hot-debated tech topics. The RPA software revenue is forecasted to reach approximately $2 billion in 2021 according to Gartner. The top five vendors – UiPath, Automation Anywhere, Blue Prism, NICE, Pegasystems – holding the major chunk of the market share are mainly focused on the enterprise market.
At the same time, automation is also revolutionizing the MSP industry, but this is an uncharted territory currently. These service providers are dealing with the pressure to offer exceptional service quality whereas their clients, the companies, expect to reduce the consumption of resources, risks, and costs related to software ownership. Here, RPA is the best answer for MSPs to deal with these demands and offer instant and cost-effective solutions with the help of bots that are the best assistants in management, administration, troubleshooting, and operational routine.
ElectroNeek understands this reality and offers its solutions as RPA-as-a-Service (RPAaaS) to help MSPs to provide their services layer on top of its platform. The benefits service providers gain from the RPAaaS include better collaboration, no technology lock-ins, access to the knowledge base, no upfront costs, and scalability.
Why ElectroNeek is focusing on MSPs
There are several reasons why ElectroNeek is focusing on the MSP market.
(a) To accelerate the RPA adoption by building an MSP-focused ecosystem.
With ElectroNeek MSPs can build an unlimited number of bots both for the internal processes and for their clients.
(b) To increase the RPA technology’s affordability to companies of all sizes.
Depending on the size of a company and its business needs, end-users, which are IT teams most of the time, can build either 1 or 2 bots, or grow their RPA practice exponentially with tens, hundreds of bots.
ElectroNeek offers a unique value proposition to MSPs in terms of exponential growth and profitability of the RPA services. This has also become a significant advantage of ElectroNeek’s model for investors.
Another reason that makes ElectroNeek attractive to investors is its growth across the globe and many industries such as Accounting and Finance firms, Insurance, Banking, Healthcare, and many more. This is due to the outstanding quality of ElectroNeek’s products and services which we are disclosing in more detail in the next section.
For investors willing to build their portfolios of leading automation and AI companies, injecting capital in ElectroNeek does not mean making a competitive bet. Instead, the key reasons would be:
- ElectroNeek is a perfect tool for entering the blue ocean of RPA implementation opportunities and offers innovative, scalable, and affordable solutions to companies of all sizes.
- ElectroNeek already has a strong presence in the North American market, and it is rapidly expanding in LATAM, Europe, India which are important territories strategically.
- ElectroNeek has a growing number of RPA deployments across many industries including Fortune 500 companies which made investors confident to step in.
- ElectroNeek has global recognition and trust among clients which is proven by G2’s RPA Market Momentum grid, Everest, and many other authoritative ratings and resources.
ElectroNeek’s Studio Pro is an intuitive low-code/no-code platform for building bots. ElectroNeek’s easy-to-use integrated development environment can be used on-premises or in the cloud. MSPs don’t need any commercial license to run bots (developed in Studio Pro) in their client’s infrastructure.
Some key activities that can be performed in Studio Pro include:
- Flowchart programming UI
- Programming logic
- Web scraping
- Windows GUI scraping
- Email parsing
- Database processing
- API requests
- Programming languages
Discover more capabilities of Studio Pro here.
The SaaS Orchestrator helps MSPs manage and deploy bots at an enterprise scale. It is basically a single control room to monitor and manage the bot workforce for multiple clients from one dashboard.
Learn more about the SaaS Orchestrator here.
The Bot Runner is free software to run bots designed in ElectroNeek Studio Pro on dedicated machines. Users can have multiple bots running in parallel without the need of purchasing a commercial software license.
The Bot Runner can be used to run both attended and unattended bots anywhere in the world.
Discover the capabilities of the Bot Runner here.
Our unique value proposition for MSPs
The thing that MSPs value the most is maximizing their margins, which is very difficult in today’s competitive RPA industry. ElectroNeek helps MSPs squeeze more profits by eliminating the bots licensing and development tools cost.
ElectroNeek allows automating processes quickly and easily due to the platform’s low complexity. It will just take a couple of weeks to initiate work on a project – from identifying a use case to creating and executing a bot.
ElectroNeek offers these key benefits:
- A zero bot license fee model to help partners create a scaled automation environment (without any expensive platform licenses).
- Easy deployment and implementation of bots, so MSPs can realize ROI quickly.
- A multi-tiered Global Partnership Program that supports service providers to build their RPA services brand, generate more leads, and grow business.
- In terms of core RPA capabilities, it is at par with other heavyweights.
- Its robust ecosystem offers great platform support.
- A comprehensive knowledge academy with numerous courses.
- The simplest, low-code user interface makes it smoother to implement tasks.
- Integration with a range of systems and applications to reduce implementation costs.
- It is SOC2 compliant. Besides, there are proper security measures in place to avoid the risk of data leakage and fraud, along with comprehensive audit capabilities.
What ElectroNeek’s successful funding round means for company partners
ElectroNeek has successfully developed its vision into a smarter and powerful tech that can be easily used to grow an MSP practice and keep margins high. As our products are well-received by the market, we are looking forward to building a strong partner ecosystem, and this great idea needs capital injection for further scaling. To make this happen, we have successfully raised capital to attract more RPA talent, enhance our product to meet increasing customer demands, and keep the operations running smoothly and continuously.
With the latest capital injection, our company has moved one step further in its mission to drive mass RPA adoption by offering the best tech to the market. This initiative will empower ElectroNeek’s partners to deliver the best service and win more customers.
Here is how ElectroNeek plans to make its products and solutions better and compete with the heavyweights in these parameters/capabilities:
Pricing model, licensing cost (for attended and unattended bots).
- Architecture and infrastructure
Cloud capabilities, SaaS components, platform’s capacity to scale with a higher number of processes.
- Process pipeline management
Opportunity assessment, process mining, task mining etc.
- Process execution
The platform performance when the actual process execution happens.
- Automation development
The ease of development, reusability, availability of native connectors, integration capabilities, etc.
- Cognitive capabilities
Platform capabilities (OCR), support for the creation of custom templates, document data extraction, etc.
- Online training resources
- Partner network
A strong and expanding partner network that offers tools and expertise for successful RPA implementation and helps MSPs skyrocket their profits.
Certification program specifically designed for RPA developers and IT professionals.
- Assistance in building a Centre of Excellence
To equip MSPs with the best RPA implementation practices and necessary skills to manage the full RPA cycle.
- Support in Marketing and Selling activities
Marketing and Sales resources, strategic consulting, business review, workshops through ElectroNeek Global Partnership program.
- Lifecycle management
Tools to support the partners with entire process lifecycle management (process ideation, development, testing, support, deployment and maintenance, and execution).
In this article, we have discussed why ElectroNeek is among the widely recognized automation companies in terms of product features and vendor capabilities that make it attractive to both investors and MSPs. We also explained a plethora of reasons why MSPs should partner with ElectroNeek to grow their business.
RPA is a dynamic industry, and MSPs have been struggling to keep pace with the customers’ demands and maintain margin due to competition. ElectroNeek, being an MSP-focused RPA vendor, can help them strengthen their market positions and profitably build and deploy bots for their clients.