UiPath, Inc. (PATH) Earnings Call Transcript & Summary

Ladies and gentlemen, this is FORWARD 5. Would you please welcome your host, UiPath's Chief Marketing Officer; Bobby Patrick; and Chief Brand Officer, Mary Tetlow.

Wow. You are not going to fit on my Zoom screen. Welcome to FORWARD 5. So many friendly familiar faces out here and so many friendly unfamiliar faces out here. Can't wait to meet you all, but Bobby, I think we're smashing records.

Yes, that's incredible. We have over 3,500 people at FORWARD 5, which is absolutely tremendous. Almost 1,000 partners and over 250 sessions. Guys, listen, you are part of the world's largest gathering of enterprise automation leaders. There are so many firsts at FORWARD 5. One of my favorites, though, is that tomorrow afternoon, we have like almost a dozen summits tied to your industries and your expertise. Our IT Leadership Summit, health care summits, financial and banking services summits. There's summits, there's content for every single person here to learn from others and to grow and raise up your-- and go back and raise up your organization. We have our first CIO Automation Council here at FORWARD 5 as well. And I think we are the first tech conference to ever embed pickleball courts.

Yes. I'm positive.

I told it's the fastest-growing sport in America. I don't know.

In the world.

And like many of you, you've probably been to the Venetian for countless conferences. I know I have. And I'll tell you one thing. I get pretty tired of the dark and the drab and the concrete walls and the long walks. But you've done something really specially here, Mary. Tell us what inspired this beautiful expo and the automation for all seasons.

Well, that's exactly. Automation is for all seasons. And I hope you've had a chance a little bit this morning to walk around the FORWARD arena. But automation is universal. It cuts across countries. It cuts across industries, functions, business processes. It's for enterprise transformation. It's for personal liberation. It's for high techies. It's for low coders. So we wanted to tap into that whole idea with automation for all seasons. But second, last year at the Bellagio, we did an inside-out event. It was COVID. We've been at the Bellagio for FORWARD 3. So for FORWARD 4, we took the entire event outside, but we have grown, and there are a lot more people here this year. We needed a new space. We came here to the Venetian where we have 0.5 million square feet of this energy-sucking windowless warehouse space. So we thought let's bring the outside in this year. Nature is an antidote for stress. It helps to create relaxation and positive vibes and really open you up to new ideas and to meeting new people. And so that's what we were hoping to achieve for all of our guests, so we -- so that you can take in everything that FORWARD 5 has to offer. We wanted something to visually elevate us from the day to day.

That's right. FORWARD is about elevating so many things. It's about elevating our industry. When we first created the brand -- the name FORWARD, and that's kind of interesting. My LinkedIn says, I had a note go out. I didn't put it out, but it said I've been here for 5 years. And I remember, 5 years ago, we came up with the name FORWARD for FORWARD 1. It was actually from the inspiration from a favorite quote from Walt Disney, which is keep moving forward. And I think we did that, right? FORWARD 1 in New York was all about launching enterprise RPA, security, scalable, accessible, ease of use. FORWARD 2 was launching the automation first era, as we exit the cloud-first era, and we're now in the automation first area. FORWARD 3, we shifted from a tool to a platform. FORWARD 4, we showcased automation's #1 value proposition, speed to market and time to value, which was one of the best saviors during COVID. And so what I'm really excited about is FORWARD has done a number of a wonderful thing for all of you. It's elevated your ability to deliver transformational outcomes within your organization. It's grown careers, exploring your impact. It's grown your value look no further than the creation of titles like Chief Automation Officer, which, by the way, Mary, I'm really excited tomorrow at this time, Forrester has a great keynote and one of the themes is the emergence of the Chief Automation Officer.

That's right. Leslie Joseph will be here tomorrow. But one of the ways that you elevate yourself is by continually learning about automation. In survey results from you, after the past 2 FORWARDs, you've told us that one of the things you want is more time learning from one another and from the experts and getting more deep content. So this year, at FORWARD 5, we have equally 50-50 time, free time to work with the experts in Expertsville. We have 8 hours devoted to time that you can spend meeting with the experts. We have 90 UiPath experts staffing UiPath booths. We have over 200 sponsoring partner experts in their booths out in Expertsville. So plenty of time there, and we have lots of other times at happy hours, parties, the automation celebration tonight, and I'm not even counting that. So these experts are here to work with you however you need.

We love our parties. We love our parties. One thing I'm excited about is elevating you by inspiring you. There are over 100 customer stories on stage over the next couple of days, 100. And I've had a chance to see a number of them. And what I found was very exciting. They're no longer about, "Hey, task automation and finance or some basic task automation in HR." They are actually transformational outcomes. These customers are talking about enhancing customer experience, driving better faster sales, right, and delivering huge outcomes to their core business, launching new business models, radically transforming business plans. You're going to hear them on the main stage, on the inspiration stage in Expertsville, and it's a wonderful lunch roundtable.

Yes. Our lunch topic roundtables are not to be missed. But my favorite place in the FORWARD arena is the gallery of customer achievement. It's over that away in the spring park, what we call spring park. It has 9 stories of customer automation. They are brought to life in a mixed media, video and static artwork and some other video. Two of these stories are solely focused on automation for good, but every single one of these stories talks about how automation is improving the human condition. So FORWARD is indeed about people and about giving people wings to soar.

That last point is so important because it touches our company's core purpose, something that hopefully you've seen with your journey with UiPath, you see with your commitment here. It's a commitment of our co-CEOs, and that is to accelerate human achievement.

That's right. So automation, we make automation. It shouldn't just be about the technology, and it isn't. Our technology serves people. It's made for people to improve people's lives, to unburden people to do the work that is worth doing, the work that is uniquely suited to people like deep thought, like collaboration, like creativity. So we never want to lose sight of that. And so we built an installation. Over here in between spring and summer, it's a -- you'll see that it's a white installation. It's a walking labyrinth, and we call it the heart. It occurs to us that our purpose to accelerate human achievement is only brought to life through the way our customers use our technology. So this heart, this installation has meditative ideas about that symbiotic relationship. I do hope that you'll take a few minutes to walk through there. So, Bobby, before we get started, I know there are some big themes that you would like to tell everybody.

There are. I have 4 big themes I want to quickly run by. You're going to hear them throughout the conference. I think these represent where automation and where we all are going. First off, automation is shifting from a tool to a way of operating and to a way of innovating. As a way of operating, you're thinking about widespread and industrialized automation throughout your enterprise. And as a way of innovating, you're thinking about how do I launch new business models with automation? How do I solve that next business problem with automation? So that's the first and the most important big key message. But #2, the UiPath business automation platform is delivering automation fueled transformation. And this is really important. What we've learned over the years is that with automation, you can deliver time to value and speed to market in days and weeks, not months and years. This is how you deliver digital transformation, it's automation fueled. Third, and I kind of touched on this earlier, Mary. Customer business outcomes have clearly shifted now from tactical to transformational. You're going to see it in every customer talk. This, I think, is what is so critical here. This is what elevates the ROI that you get from all the investments you're making in automation throughout your company. And finally, what I'm seeing now is automation being featured in customer annual reports. I've seen Board members being recruited who understand and know automation within a Board of Directors. And I'm seeing multiyear business plans being created where automation is at the center of the business plan to deliver transformational, competitive advantage and long-term business value. So what it comes down to is automation is no discretionary line item. It's becoming a strategic imperative for your company. So that's a lot to cover in 2 days, Mary?

There's a lot to cover, a lot to see. It gives me great pleasure to introduce our co-CEO, Rob Enslin.

Good morning, everybody. It's good to be in Vegas. Only joking. No, it's good to be -- it's my first FORWARD 5. Let me just say, thank you for coming to Vegas. You're going to have an amazing next couple of days at our conference. When I told friends I was joining Daniel as Co-CEO of UiPath, they naturally wanted to know what was so special about this opportunity. And I told them, I've had the privilege of working in 2 great companies, SAP and Google, that were the defining technologies of their eras. Each enabled customers to drive costs down, drive productivity up, drive innovation forward to serve customers better, to grow faster, to deliver better business outcomes. And at UiPath, I get the chance to do it all again. That's because, like ERP in the '90s, the Internet in the 2000s and the cloud in the teams, automation is the game changer for this era. Forrester analyst, Leslie Joseph, who will be speaking tomorrow morning, puts it this way. We're on the cusp of the next S-curve of digital evolution. He believes automation is the rocket fuel powering that S-curve. And we believe UiPath is the defining technology for automation. Over the next 2 days, you are going to hear from many of our customers while using UiPath technology to tap into the power of automation. You'll see how they've rebooted and reimagined how they operate by placing automation at the core. You'll see how they're using automation to bring digital transformation over the last mile, how they've accelerated profitable growth, how they've taken the friction and effort out of many processes, creating a workplace where robots work and people thrive. You know there's an old saying, "Better, faster, cheaper, pick 2." But with automation, you don't have to choose. You can have all 3. That's what makes automation a transformational technology. Recently, the Everest Group asked a group of automation leaders to calculate the impact of intelligent automation on their business. And here's what they say: efficiency up 50%, productivity up 40%, customer satisfaction, also up 40%. I know these results are real and achievable because you have told me so. Over the past several months, I've had the privilege to meet almost 100 customers as well as our business and technology partners. I have traveled across North America, Europe and Asia. I've met with companies in financial services, health care, manufacturing, retail, pharma, public sector and more. And I've heard some amazing, incredible stories. The Singapore's Changi Airport, which is about to open a massive new terminal, by thinking automation first in developing their operating approach, they're able to welcome 50 million additional passengers a year without increasing head counts. And while I'm on the subject of Singapore, I want to mention VITAL, the central agency for shared services in the Singapore Ministry of Finance. Automations created by citizen developers have already increased productivity by 66%. And they're launching across government platform in Automation Cloud to give every employee, 100,000 people in 100 agencies, instant access to standardize, ready-to-deploy robots and solutions. I also met Uber, and they predict that UiPath automation will deliver a 350% ROI in 1 year. I've learned how New York State cuts through the huge backlog of COVID claims, sending out 1.2 million relief checks in just 2 weeks, while also identifying $12 billion of potential fraud. And closer to home, in the UiPath department, finance department, let me be clear, 25% of our workforce is now digital. Since 2018, we've grown our revenue almost 7x, but we've only increased our finance staffing by 1.5x. That's scaling. These are great inspiring stories, but to tell you the truth, they only focus on one part of the picture, what happened. I think we also need to focus on how, how do you turn automation to speed, efficiency and competitive advantage? How do you turn automation into a force multiplier for growth? How do you lead that S curve? I have a chance to ask this of our most forward-thinking customers, who're also the ones getting the most impact from automation. And they answer, they go big. As far as they put it, they have reimagined their operating models through automation. It's now in their business and investment plans, in every process they design in the warp and weft of everything they do. They're successful at tapping into automation's power because they recognize it's power, and they unleash it everywhere. Generali, the global insurance company, is a great example. Automation is called to the $1 billion, $1 billion 3-year transformation to grow customer value, boost innovation and reduce costs. They have already automated over 1,000 processes across 40 business units. They're using features and products across the entire UiPath platform, and it's paying off. They've already saved EUR 80 million on their way, listen to this, on their way to $125 million annualized run rate. Automation is a way that cutting-edge customers like Generali operate. And it's also the way they innovate. Automation is a treasure trove of accelerated growth. Just ask UiPath customers, who are turning field service crews into upselling crews, increasing customer satisfaction scores by double digits, launching virtual businesses virtually overnight. Because when you make automation a way of operating and a way of innovating to drive tangible, measurable results for your business. And perhaps no company in the world knows that better than Orange Spain. To tell you why that's so, I'd like to bring to the stage Javier Castellanos, Robot Factory Director of Orange Spain. Please welcome Javier to the stage.

Hello, Rob.

Thank you, man.

Thank you.

Thanks for joining us.

Hello, everybody.

Okay, Javier. First off, can you tell us a little bit about the company, Orange Spain?

Yes. Orange is a global telecommunication group, okay? And Orange Spain is the second operation in the group. We have more than 20 million customers only in Spain. We have 60 million fiber networks installed and 6,000 employees only in Spain.

Okay. So this is an automation conference, right? So you've got to tell us a little bit about what you're doing with automation, your automation program.

Yes. From the beginning, we are working in 2 different ways. First of all, we have a Citizen Developer program with 500 employees official certified in UiPath because your technology is very easy for not technical guys, okay? And this Citizen Developer has automated last year 300 processes in the company for a small task, saving 100,000 internal hours only last year. And in the other hand, we have the Robot Factory, my team, automating core business processes, complex task for the telco operator, okay? And this team is automating 600 robots and saving EUR 40 million last year. So for us, the automation is the secret of big operation and customer satisfaction.

Okay. So I always get this question. And we put all this technology in, when do we get value? We never see value. I promised my CFO this, but I can't really show that. It's kind of the old-age problem of technology. But can you show us how you save money, [ perform ] money, and how your robots have performed?

Yes, I think the best thing is to see in real time.

You're going to show?

Yes.

Let's do the demo.

Okay. We developed this portal for the whole company. Every employee can enter and see what RPA acts as for a robot and see what's happening in other areas in the company to discover new opportunities of what other employees are doing. For example, in finance, you have here a brief summary of more than 200 processes automated. And you can see on real time, the brief summary, the process owner and the information regarding the process only like brainstorming to you. but we create a real-time dashboard to report all the information regarding robots. You can see here more than 900 robots developed because we are joining the UiPath technology robots, and you can filter how many robots are made by the employees in this area on this other, or how many robots are made by our Robot Factory team. And in the money, we save the total amount of money, but we -- for the demo, but if you filter you can see how much OpEx or CapEx or revenues we created because this finance who officialized the real savings of each robot is not the Robot Factory thing, it's finance. We work very closed with finance in order to declare how much money, our savings in customer care, OpEx or finance, CapEx, these kind of things for the finance point of view. As we are a factory, and this is our funnel, how many processes are in discovery phase, in developing, in maintenance, evolutions, new robots, and our forecast regarding savings because we have a big effort to save every year a lot of money and improve the customer satisfaction and employee satisfaction. And the consolidated value. Robots still running after 1 year. And if you switch off the robots, you need to put again the money on the budget. So it's a big value for us, more than EUR 7 million of real value. And our robots are working 953 FTs equivalent. So it's a big amount of people working. And it's possible because we see in real time, for example, the license construction. Every black box is a server with the total amount of UiPath sessions install and we can balance the 50% of the time that our robots are working is at night and holidays and weekends, and we balance on real time in order to improve the best for the complex process in our company. And we have 20 external developers doing all the robots in the company. And we can see here on real time what's happened with the ongoing robots if they are delayed or they are broke or we are on time. So we are building right now, today, more than 30 robots every week in order to improve. And very important this part for the process owner because we need to engage the process owner. We are the robot guys. We don't have the responsibility of the process. The process owner can see here on real time the performance of the robots and learn how to improve the process due to the big information with a lots of the robots, what is happening in my process? And what is happening in my process is the key point for the savings. Because if you declare in your Happy Path and all exceptions in the process, all the steps has a value and is financed, okay, is the robot make the transaction you say for the company, EUR 1.43 or [ cents ] or whatever, but if the robot exit before the Happy Path ends, the savings is more or less depending on the transaction. So the information that the robots working in a big ecosystem is very useful. And finally, for the controllers in every area can see in real time what's happening in my budget, and our controller what are doing the robot people. And they can obtain on real time, okay, the year-to-date savings for the robot in finance, if these or these and historical evolutions of the savings. So I think to work, technology, finance and employees and citizen developer, thanks to your technology is key for us. So thank you very much.

Yes. I mean this is unbelievable, like, I mean, the huge round of applause Javier. To show this level of business outcomes, I can only imagine how much work is on your shoulders for your company. We're super proud the work you've done and really appreciate you joining us. Thank you so much Javier. Okay, ladies and gentlemen. Business outcomes. Business outcomes. That's what automation drives. Over the next 2 days, you'll have more opportunities, to inspiring automation stories like this from our customers and our business and technology partners. Our partners are so important in helping companies move from idea to impact from strategic intent to strategic advantage. One of our greatest strengths as a company overall is our partner ecosystem. I saw that yesterday live at partner forward. We had the chance to learn more about what our partners are doing with automation for their clients and for themselves. And on that subject, it gives me great pleasure to bring to the stage one of our great partners and customers. Please welcome Hank Prybylski, Vice Chair of Transformation at EY. Hank? Let's go huge, Vegas. Welcome.

FORWARD 5. So excited to be here.

Thank you. Hank, I know EY is going through some pretty exciting times these days. I also like how your title has transformation in it. So what are you focused on? And where does automation coming to the picture?

Thank you, Rob. Great question. And we are so focused on transformation because it's really the value path for both EY and through our clients. And we look at the transformation lens, as we teed it up this morning, always through a customer and employee experience. And automation is essential to that transformation and how we do that and driving profitable growth for ourselves and for our clients. I can't think of a better time to be talking about automation.

In addition to being one of our largest partners, you're also one of our largest global customers. Why is that? And where are we having an impact at E&Y.

Rob, I think when we look at it, we think about UI in 2 paths. We have, where we do work in our perimeter and you were a customer review as well as make recommendations. And when we're working in the information we're driving and the high on tax areas where you're using automation to drive value. If you look at our tax platform, when we generate, whether it's for compliance or consulting areas, we use automation and embed it everywhere we do. Our global tax platform uses your automation services UiPath to help our tax professionals remove the robot from themselves so they could focus on higher hour work. In our audit business, where we do a lot of analytics and analysis, our Helix Platform that helps those better audits, creates greater confidence in the markets, we use UiPath process mining tool support it, and it's recognized by our regulators everywhere. And if you think about it, an audit process is a great example for AI-enabled automation and workflow.

Hank, that's incredible, actually, what you're talking about, and how the opens are driving it. But when we think UiPath, we think of E&Y is one of the leaders in personal automation that is providing your people with automation to take on everyday task. But you didn't start out that way. Where was the pivot?

That's a great Crescent Rob, and a lot of times, where do you start? We have a huge SAP practice. We also are a huge user of SAP within our finance system. So we started in our SAP work. We have 26,000 experienced SAP professionals across 150 countries. We embedded UiPath in the automation activities in that business. But today, we have achieved so much more across our business. We are the world's largest ever global implementation of attended robots, and more appropriately, we're putting automation in the hands of every EY employee. We have 125,000 global users of UiPath today. And I believe that is the fourth one of where we'd be going.

125,000. 125,000. That's unbelievable. That's terrific. I would imagine though that your own experience with automation translates to successful client engagements as well.

I like that. We like to use the expression, we like to drink our own champagne. And what we've learned internally how to deploy automation and transformation for better customer and employee experiences, we'd love to bring that to our consulting side of the business, bring that to the customers, all of you in that room with deep industry expertise. We've doubled the size of our automation business in the last 12 months across every sector in every region. So this fuel of automation we're seeing in the client demand. And in addition to being the biggest user, we're driving that in Navy major business transformation. I'd like to take you through just 3 right now. I could go on forever and ever but 3 great examples. -- working with a large global brewing company in EMEA, who wanted to go from a paper-based process to a digital classic digital transformation, we've unlocked value EUR 10 million of benefits and driving that new standard innovation, unlocking incredible value that they can reinvest in the government and public sector business, and I know there's a focus tomorrow at too around that area. We worked with the State of Tennessee to work with 23 separate state agencies. Imagine, bringing all those state agencies together to drive a large-scale business transformation and as you talked about, really get time to value or their citizens where they need it most to these days. And lastly, I want to talk about one of our top automative clients, a Fortune 500 automotive company, Sonic. I know they're here in the audience. They're going to be talking later today, listen to that journey. We've worked for the last 3 years on their automation journey, and how they put that central to the business and how they're scaling their business, how they're creating new products, how they're driving that growth. So the example of automation is central to that transformation. Lastly, automation, we're looking to the future. We're blessed to work in an area where we have incredible new technologies. One of those being the generation 3 of automation. And swing by the UiPath booth and we're looking at how you can apply that to omnichannel solutions popping up in the Metaverse.

That's amazing. It's really impressive. We are super glad to drink going champagne when it comes to automation and how you do it. And it's obviously very clear your customers are benefiting it amazingly. So when you look at the horizon, if you look at there, where do you see UiPath and EY in the future?

We love the partnership. The demand for automation strategy is already accelerating. That demand to create a super efficient intelligence layer for clients so you're empowering that and that demand is going to keep growing with speed and activities. So we're really super excited. We see automation is probably going to be the single biggest opportunity to accelerate digital transformation. I see it with our customers. I see it when I lead EY's transformation today, and we don't believe it. And we believe strongly that UiPath is the best automation platform available today, and that's why we've chosen it as our core technology in that space. And what we really exciting building off of that, we want to announce that we're elevating on our partner side, UiPath to our Tier 1 top alliance status.

Thank you.

That is our highest tier status working with a select number of firms, and we're super excited to co-invest for the future.

We're super happy to be a partner with E&Y. Thank you so much. Ladies and gentlemen, please raise a huge round for Hank. Thank you. Just for those standing on the edge here, there are seats on that side. If you would like to go and have a seat, you go along. You're going to stand a long time. In fact, I look forward to doing great things with all of you. Because if you go big with automation, if you embrace it as the way, you operate and the way you innovate, automation will go big with you. But you can't do it without the right technology foundation. UiPath is committed to being that foundation. In a minute, our Head of Product and Engineering, will talk about what we've done and where are we going and what we're doing to ensure we remain the defining technology for enterprise automation. But before I turn the stage over to him, let me say it again, it's great to be here with you. And I really hope the next 2 days bring you inspiration, insights, higher ambitions and many new friends. Thank you for being with us at FORWARD 5. Thank you. And now it's my great pleasure to introduce my friend and colleague, Ted Kummert. Ted? We lost Ted. Thank you.

Well, good morning. Welcome to FORWARD 5. There's simply nothing better than spending time with our customers and partners. We're all looking forward to spending this week with you. I have a secret. I have a simply great job. I get to work with a fantastic team of engineers, product designers, product managers, data scientists and others to shape this platform for the future. And as I've said many times, I believe this is one of the most important platforms of this time. Also have a great job because the time I get to spend with you and the insights that I and we gained from those conversations. Most importantly, it's about the feedback that helps us shape our product for the future. It's very exciting times for us in products and engineering. We're putting the final touches on our next platform release UiPath Version 22.10, and we're going to be talking about that a lot this week. And we hope as you see it that you see a lot of yourselves in it, things you've been hoping for, things that are going to help you do your job better, things that are going to help your automation programs move forward more quickly. I also personally gain a lot of insights from these conversations. I was speaking with the Chief Engineer at one of our customers just a few weeks back. And she was reflecting on where their automation program is, and where they'd like to see it go. And I'm paraphrasing, which she said, we've made a lot of progress in automation. We have a great automation program. But if I look back, I feel like we've been too reactive. Going forward, I want to be more proactive about how we use automation. I want to design processes with automation in mind. I want to move automation upstream. And I thought, what a fantastic encapsulation of where we are with the platform, and where we're taking it going forward. We're going to be talking now about the business automation platform, and we've named it that to reflect our belief that this platform is now at the center of the way business is running. And it's there to automate through repetitive and routine, but it's also there to move upstream and implement new capability and processes for your organization. I see our platform journey in 3 chapters. Chapter 1 is the RPA chapter. And if you observe the software industry for any length of time, one of the things you see is that the problems, the opportunities don't change, but the implementations do. And every once in a while, something comes along, it disrupts it and really changes things up. Now RPA and automation platforms are not the first platforms to walk in the door and say to you, I can help you integrate your applications, I can help you automate your business processes. But there is something very novel and important about it, which is that in centered on UI automation. Because it's centered on UI automation, that's how it can emulate the work of people, capture all the work of the process, not just to integrate transactions among multiple systems. Because it emulates the work of people, it's very easy and intuitive to develop, which delivers very fast time to solution. And the outcomes tend to be very, very measurable. And lastly, integration problems are 100% problems, not 80% problems. Because this platform is centered on UI automation, we can reach any application in data that the eye can see. So Chapter 1 came together for us is the run time, the robot, our visual low-code experience in studio and then the management governance in UiPath orchestrator. Chapter 2 began 3 years ago. Actually, here in Los Vegas, as a part of FORWARD 2, UiPath rolled out a vision of an end-to-end automation platform, covering the complete automation life cycle from Discover to measure, new capabilities for the robot, long-running workflows, incorporating humans in the process, rich API integration in addition to UI automation, the seamless use of AI and ML models and skills, integrated document and processing. Developer experiences that span from the professional to the citizen, engaging end users wherever they are from the desktop with UiPath assistance or through immersive user interfaces built with UiPath apps and then discovering more opportunities to automate. And all that comes together in a platform, you can now deploy and manage on-premises or in your public cloud of choice using now the automation suite, or you can use our multi senet SaaS service, the Automation Cloud. Last year, we talked about the vision that guides us forward. There are 3 pillars to this vision that we continue to work towards. The first idea is platform expansion, how we're going to continue to cover more and more with the same platform and offering. We think about our developers here, and we see continued convergence from the categories of integration, iPass, PPM, low-code application platforms and automation into one consolidated platform so you can now have one platform that covers more and more needs. We see this promise of discovery becoming more and more continuous, always observing, watching the processes, watching the work, leasing over that, finding new opportunities to automate, identifying issues and helping you mitigate and remediate. We see the platform becoming semantically smarter. So you as a developer, especially, you don't have to deal with low-level mechanisms, screen elements, document constructs. The system can understand at a higher level. We can see, oh, that's an invoice document. We can extract the data from that. We know what this screen is. We can help you get data from here to there. We can help you with an automation. And all that towards an end goal of getting developers out of you dealing with low-level mechanism and instead focus on just solving their business problems. So now we're in Chapter 3, the business automation platform, sitting at the heart of your business, living between your application landscape, your processes and your people, helping them move forward at the rate that they need to, implementing processes to automate the repetitive and routine and moving upstream to implement new processes and capability. It comes together in 3 parts: the core automation platform, how you create automations and applications, discovery, the observation of processes and work, identifying high ROI areas to invest, and then a platform foundation, which is critical toward any enterprise mission-critical platform, providing capabilities, analytics, to give you the operational insight and the business insight you need for your automation program. Unified management and governance such that you know that the whole thing is compliant with your desired IT and security policy. And then our perspective on cloud is you should have the complete flexibility and freedom of choice. You want to deploy on-prem, you want to deploy in a public cloud and manage yourself, you want to consume it in a multi-tenant SaaS service, that's part of our foundation and will continue to be part of our foundation going forward. And somewhat uniquely, we see part of this foundation is built-in testing capability. Daniel had the insight a few years back that said, if we've got best-in-class UI automation and workflow, there's a very leveraged play to apply that to the test automation market. And test automation is critical to apply to your RPA program, but it can also be applied generically to any application development testing problem. We've come a long way in the 2 years since we've been in the test automation market. We're now a leader from IDCs that said that we're a leader in this space. We've got great customers like Cisco, now applying it to test automation, seeing very high levels of automation coverage, low maintenance and faster and faster development cycle times. So now we're going to go through each of the core areas of the platform. So talking about automation, comes together in a few parts. One is those low-code developer experiences. The second is the run time. They can automate via the UI. It can integrate via APIs and then you could seamlessly use AI and ML models and skills. And then that semantic layer that is raising the abstraction in how you deal with applications, documents and data. There's 2 secular ideas that kind of drive our investments in this core automation platform going forward. One is to increase the expressiveness. Expressiveness means more capabilities, richer capabilities so you can tackle new solutions to build richer and richer solutions. The second idea is advancing simplicity, making it easier to use, easier to learn, faster time to solution. Those are 2 secular ideas that guide our investments going forward. Another great thing about my job is the time I get to interact with the developers, here what they've built and the impact that it's having on their business. I love this solution from Carglass. Carglass provides mobile services, things like windshield replacement, windshield repair and that sort of thing. They observed their technicians out in the field were spending a lot of time on data entry or was all this back and forth is that we're trying to identify the right replacement parts. So they used automation. They actually use UiPath apps in our automation platform, to build an app for their field service technicians, which eases all the burden of that. It freed up their time so they can spend more time on their jobs doing repairs. They also found it gave those field technicians more time to spend with customers selling them additional products and services. I love this scenario from Ashland, serving one of their health care customers. This solution is oriented at nurses who are working with patients to define care protocols. And they observed that these conversations were best handled as they happen with the patients and not in some linear way. So they built an app using UiPath apps, put all the things at their fingertips so they could just manage the conversation as it flowed. And what they found is, the nurses had more time now to spend on things like care for patients, and they got better compliance in terms of the patients' enrollment in those protocols. Now these are examples of enterprise-wide more horizontal business processes. There are also individual and personal scenarios. There's things just you do or your work group does. You do them once a day, once a week, 3 times a year, whatever, and despite the best intentions of RPA and CoEs and IT, they're just not going to get to building an automation anytime soon. And that's what our citizen development strategy is all about. It's enabling those personal automation scenarios to be solved. I love this example from Dentsu. Dentsu is a creative agency. They've got a lot of creative potentials. Somewhat observed what we spend a lot of time just manually taking things from this project plan and putting them into outlook. So as part of their citizen development program, somebody authored in automation, they did that instead. Now everybody doing those kind of campaigns is freed up from that work. So in terms of advancing the expressiveness, we announced in August the acquisition of a company named Re:infer. Re:infer is in the -- created a category we're calling the communications mining products. So what is communications mining? It's a deep understanding of communications data, think e-mail, chat, service desk tickets, whatnot, all of that. And mining is the understanding of, well, what is this about? What are they trying to accomplish? What's the intent? What's the tone of this conversation? And once you identify all of these attributes and others, you can apply automation. So one example, almost every consumer-facing brand in the world has e-mail addresses that receive lots of e-mail from their customers that you need to follow up on. And the manual processing of that can be very, very laborious. Re:infer has been applied by many companies to this scenario, mining the information of that, such that then it could be paired with automation so the automations can follow up. And you get 2 benefits. You get better efficiency, and your customers get a better experience. So now to talk a little bit more about Re:infer, and how it's been applied at one of our great customers, Deutsche Bank, I'd like you to join me in welcoming Ed Challis, who is Founder and CEO of Re:infer, now runs this team for us; and Rushabh Shah from Deutsche Bank to the stage. Welcome, Ed and Shah.

Thanks, Ted. It's a real pleasure to be here with you all today and to talk about what communication planning is, what it does, and it's a real pleasure to have Rushabh on stage to talk about how he's using it today at Deutsche Bank. So Ted mentioned briefly about the problem of the massive volumes of communications that are flooding our businesses. I think we're almost at a point where it's kind of we're at max messaging. Customers aren't getting the answers to the questions they have in the timelines that they want. And as us working every day, I've constantly found that I'm distracted from doing the strategic, impactful work because I'm having to service all of these requests. I think we're really -- our business is really constrained in terms of how much we can transform unless we can address this communications problem and fundamentally kind of change the architecture of how we service that, and that's what communications mining is about. It's NLP and AI that understands the meaning and the context of every message. And when you can understand every message flowing through the business, you can understand all of your customers' needs, all of your businesses problems and the bottlenecks you have in your processes. And kind of what's more important almost is you can uncover all of the great automation opportunities. It's about improving customer experiences, completely changing the scalability of your teams and also getting more governance and control on these processes. So Rushabh, I mean, it would be great if you could tell us how you're using this at Deutsche today?

Yes. Thanks, Ted. So I mean, as both Ted and Ed have touched on, we're using Re:infer in that very simple context of understand that mail data, understand the communication base. Look at those few large mailboxes and which is shared, they're not confidential, not restricted, but they have a lot of work effort in them. So what we're trying to do with those is actually mind them, understand why that work assets in there? What's driving the work? Diagnosing it and using Re:infer to basically identify what's the key volume of work without having to look at each e-mail separately. We're effectively saving ourselves weeks, months of work and able to do that mining in about a few hours maximum a day and get to quite a low level of detail to understand what's driving the effort of the people in the team.

That's really valuable information. And just to kind of give you a sense of what this deliver, so with another banking customer of ours, just analyzing 3 mailboxes, we found over 110 change opportunities that will deliver over $1 million of saving. What -- can you tell us a bit about the value you're seeing at Deutsche?

Yes. So thanks, Ed. So what we see is, we can identify quickly that volume of data. We can understand actually what's driving the work for the process owners. But it gives us the quick ability to identify those big drivers of work, and then we can actually look to see how we switch these things off. So that gives us time back. That gives us -- give us better satisfaction for clients. And actually, we're able to then go through those insights and see actually how we could automate it. So what can we actually also make away? What can we switch off? Where we can actually take things which were previously handled manually and actually either move them on to somewhere else or self-service, but also identify how we change behaviors. So how do we actually get both the end users, the clients, the internal people to actually stop using e-mails for things that they could address in different manners, right? Self-service portals, chat channels. There are other ways to work on this. And each time we look at these mailboxes, we're finding a better way to improve and to actually move forward and actually simplify our workflow, the intent which with all this is actually to save effort for the end people and to really simplify the actual workload for the teams.

Amazing. I really think it kind of completes or is a really important kind of missing piece in the automation stack, and why I'm so excited about being part of the UiPath family. But to -- we've talked a bit about what NLP can do in these messaging channels. And I think people over-index on how important the machine learning, the NLP, the AI is in these solutions. Yes, you need state-of-the-art ML and NLP to drive this. But I think what's almost more important is how the technology is made available and operationalized and surfaced within the organization. It's the design of how this is used. Even the best machine learning models need to be trained and they need to be adaptive to learn the specific processes and requests that your business receives. So this was our kind of starting point with Re:infer, and we developed a super simple, intuitive, no-code platform that any SME could use to deploy in that bit of the business. So I'd like to show you a video of kind of what this looks like. So the key thing here is that if I understand the customers, if I understand the processes, if I understand the tasks, I have a tool now at my disposal that will allow me to investigate all of the messages, all of the queries, all of the processes we support and quickly identify what are those biggest, most impactful transformation opportunities? And to query that data in a natural intuitive way, to scrutinize it, to modify the model, and then when you found something big and relevant that you want to change, to be able to super quickly create and automation off the back of that.

So the UI, you can see, right, it's really simple. And this gives the power to the end user. Communication mining is a critical asset within any company, right? So it gives you the ability to look at data very quickly, low effort, low code and really simply understand what's going on in your environment. It's been an absolute pleasure to partner with Ed and his team and develop I'll talk internally within DB, and we look forward to doing more.

It is a pleasure of partnering with you, and I look forward to what we'll do in the future. So that's it from us. There we have a booth in expert sale, and we have a deep dive session at 2:15 today. So please join us or reach out to us.

All right. Thank you, Ed and Shah. So communications mining, it's in private preview now and will be GA first in the cloud after the first of the year. So it's about expressiveness. It's also about simplicity, enabling fast time to solution. The core of our developer experiences the studio family, UiPath Studio for the RPA professionals and then you UiPath Studio X for citizen developers to help them solve those individual or personal automation problems with the experience tailored to just what they do in interacting with applications, documents in beta. We're very excited this week to be announcing the next member of the Studio Family, UiPath Studio Web, the first fully web-based version of our studio developer experience, a complete reimagining of the user experience, oriented first on API integration and automation of web-based applications. It's the first cross-platform developer experience. And the next in us pursuing our cross-platform story to enabling us to reach wherever you need us to be, we have a Linux story now for deployment with the automation suite. We've got Linux, Mac, serverless robots, and now we have a cross-platform development story with Studio Web. The last member of our developer tools family is UiPath Apps that low-code experience for building those immersive user experiences. Anything from a simple form for data entry to a complex multi-screen user interface. We've gotten a lot of great feedback from you since we launched UiPath Apps. And we got a lot of great things coming as a part of 22.10. You're going to see greatly improved performance, both design time and run time, support for public-facing apps, expressions, the ability to interact directly via APIs with applications from the UI layer and much more. So now we want to show you how this all comes together. And this is a little bit of a fun scenario. A lot of you, I think, participated in the raffle. We have an Xbox, 2 Xboxes, Surface Pro raffle. That application was actually built with Studio Web and UiPath Apps. Now to show you how that application was built, please join me in welcoming Evan Cohen to the stage. Evan?

So over the last few days, you have been participating in a UiPath First. The form that you filled out to join the giveaway is our first-ever end-to-end integrated automation-powered app delivered without a single line of code on our fully integrated platform. Now over the next 5 minutes, we're going to dive into how we built this interface and the automation behind it? And then, together, we'll build an automation to select the winners live. Now before we jump in, I wanted to show you a visualization of submissions over the past couple of days that we created in insights. Now Insights helps you measure the impact of automation to your business and provides a comprehensive set of tools for analysis and reporting. Now in this case, it gives us a clean way of visualizing the number of submissions over time, and it shows you how many people you're up against. Now keep in mind, we're doing a simple use case here. But in the limited time that we have today, I'm going to show you how apps can do all kinds of things, like the examples that Ted mentioned, from IT service desks to approval dashboards, or the examples that you heard about Carglass and Ashland. Now when you click the submit button in this app, 2 things happen. First, your data was securely saved in data service for quick and easy access from apps and other automations. And second, a serverless workflow built in Studio Web was triggered to validate user data, send the confirmation e-mail and push that data to HubSpot. Now using serverless meant that we didn't have to think about scaling our own infrastructure when exposing this on the public web. Studio Web enables a much broader audience to design cross-platform automations directly in the browser, which makes it far more accessible and means it has 0 install footprint. And with the out-of-box templates to tackle common scenarios, it makes it easy to get started. So let's recap. We use an app to gather data, store it into data service, and then use a serverless workflow to a pushed out confirmation e-mails and distribute it to our line of business systems. Now we're going to create a new automation to select the winners. So let's jump into Studio Web to build this automation. Now Studio Web is a modern workflow builder, but don't let the simplicity of the UI fool you. We've taken over a decade of combined experience with studio on desktop to create a tool that streamlines workflow creation even for the most complex, robust scenarios. So since we're short on time, I've already added a few activities to get us started. And this workflow begins by getting the list of submissions from data service. Now we only want to include attendees in the giveaway. So we can use the graphical query builder to exclude any e-mails that are from UiPath e-mail addresses. Now for each of the prices, we want to select a random winner. Now Studio web knows where we are in the context of this workflow and make data from prior steps available to us right at our fingertips, and if you want to name the outputs of activity or store it later for manipulation. That's just a click away. Now clicking Plus adds the -- opens the control pallet, which gives us access to a wide array of activities. And now, with integration service, you can easily integrate with any API like Jira, Workday and Salesforce. Or if you know what you're looking for, you can just search. Like all of our Studio Web activities, activities for API integration are naturally intuitive, making them easy to configure. And depending on the input type for the field, Studio Web provides organic in-line inputs. For example, to compose the body of this e-mail, I can use a combination of text and variables inside a rich text editor. Or if you don't want to type in front of a live audience, you can keep them on your footboard. And in a few quick steps, our automation is now complete. And I've already published it. So to bring things full circle. I'm going to take us back to apps. We're using the same app template from before. I've created another app, an internal giveaway administrator interface to help us select the winners live on stage. Now I'm able to customize apps with a rich set of drag-and-drop controls. And in addition to public-facing apps, this year, we're bringing the power of integration service directly to apps so you can use the same connectors and apps as the ones that are available in the rest of the studio family. The business automation platform is truly fully integrated. To show you just how easy it is to connect your apps to automation, I'm going to trigger the automation that we just built on the click of the Select Winners button. All I have to do is drag and drop. And then there's one thing left to do, that's to pick our winners. So on the click of this button, our serverless workflow spins up a robot on demand. And if we switch over to orchestrator, we can see that this serverless job is being picked up in real time. Now the workflow that we built in Studio Web is clearing all the submissions from data service, selecting 3 random winners and then sending the results back to apps. To the winners, congratulations. There's no need to rush to the stage. We'll reach out to you. We'll reach out to you in the next couple of days to claim your price. And to all of you, throughout the day and tomorrow, we have deep dive sessions on all of the integrated components of our Business Automation Platform. And I invite you to join me back on stage here this afternoon for a deep dive into apps. Until then, thank you. Ted?

Thank you, Evan. It was great. So UiPath Studio Web with GA in the cloud as a part of 22.10 and all the capabilities, new capabilities we talked about in the UiPath Apps are a part of 22.10 as well. So moving from automation to discovery. Discovery is enabled by a deep understanding of your processes, the work, the tasks that people are doing by understanding the wisdom of the crowd, what the experts out in the business understand about what's going on and where the opportunities are. We have a great foundation in discovery today. UiPath Process Mining is about analyzing your processes, finding those bottlenecks and anomalies, which can very readily lead to opportunities to automate. UiPath Task Mining watches the work of your people, of course, respecting privacy, reasoning over that with an ML system to identify and rank automation candidates, repetitive tasks defined that it believes are the highest yield opportunities for you to automate. And then UiPath Task Capture is about capturing the wisdom of the crowd. The people out there in the business, they know where the pain is. They know where the issues are. Task Capture gives them a tool such that, that could be captured in a way it's very actionable for developers. All of that funnels into Automation Hub, our idea management and collaboration platform, where ideas can be further curated, ROI can be modeled. And then they could be picked up and developed by a citizen developer or a professional developer. Our differentiating opportunity in the discovery space is not only to drive business process transformation, but it's also to accelerate your automation program. We've seen some great success from customers. KPN has applied Process Mining to their procure-to-pay process and identified over $3 million in savings. [ Sensire ] has used Task Mining to look at their invoice processing, and they identified that over 65% of their invoice processing could be fully automated. LexisNexis use Task Capture and Automation Hub to gather automation ideas to crowdsource them, which identified ultimately automations that save them over 300,000 hours. We've got some great capabilities coming in our discovery products. We got a complete modernized platform foundation for UiPath Process Mining. It's going to enable very high levels of data scale. We've got more connectors and applications, covering more processes out of the box. And we've got analytics like root cause analysis to make the outputs of Process Mining that much more actionable. We've got some great capabilities coming in Task Mining. Task Mining is really about answering 2 questions. What don't I know about? And the second, tell me about how the things I know about actually happen? And we've got a feature called Assisted Task Mining that's about that second question. Because in the real world, as you observe people doing the same task, they'll do it differently, and there are many exceptions. People will travel different routes and to implement the right automation, you need to understand all of that. And what Assisted Task Mining does is apply both algorithmic reasoning plus human assist together to basically consolidate that down. So you get one accurate representation of how the process takes place, including the exceptions. So we're very excited about these capabilities. We want to show you some of this. So please join me in welcoming Rachel Wong to the stage. Rachel?

Thanks, Ted. Hi, everyone. My name is Rachel, and I'm a Global Director for my company's P2P process. I just recently saved my company $20 million and significantly improved my procurement process by eliminating the potential for maverick buying. Let me show you how I use Process Mining and Task Mining and their new capabilities to do so. We've just started a new process mining project with SAP P2P in the U.S., ingesting about 50 million rows of data. As I expand globally, I feel confident that my application can handle up to 1 billion rows of data. In the year 2020, you can see that I processed about 2.8 million purchase order items, equating to $707 million. That's a lot of money to handle. However, $85 million of that was impacted by maverick buying. My boss, my boss's boss, they look at this KPI weekly, maybe even daily. And I'm constantly reminded of how inefficient my process is. So let's actually take a look at a piece of this maverick buying pie, goods received without PO approval. You can see that this itself is impacting maverick buying by $71.5 million. That's still a lot of money to handle. And with an automation-first mindset, I need to figure out how I can build automation and build guardrails in place for my users and help save time. So with the new automation potential dashboard, I can now create business value and potential business ROI by simulating automation rate. And by simulating automation rate, I can get a better idea of how much time FTE costs that I could potentially save. So let's go ahead and simulate this automation potential -- or sorry, this activity. And I can see now that it has a potential of 83% automation, saving me about 115 days. I'll go ahead and submit the idea to Automation Hub. And so that way, my COE can prioritize the idea and put it into production. Automation is a great way to improve my process. However, I really want to uncover the root cause of why these things are happening. In my new root cause analysis dashboard, I can now interact with an AI-driven tree diagram to show me my relationship between my data and my maverick buying tag. Double-clicking into this purchasing organization, I can see that there are 3 main purchasing groups, 2 that are actually top performers. They're doing really well. And then my last one, not so much. They are a significant influencer for this maverick buying tag. And to really uncover the differences between these 2 groups. I need to understand how these users are creating POs, approving them, releasing them, et cetera. So my CoE has advised me to start an assisted task mining project to uncover the desktop-level activities that my users are performing. I've gone ahead and asked the business analysts to start a assisted task mining projects in automation cloud. And they've all gone in e-mail to invite themselves to install a lightweight recording tool that's going to capture all of the clicks and the types that occur in their day-to-day process. By clicking this start button, you'll see that a lightweight recording tool shows up in the right corner of my page. And I can go about my day processing my purchase order, logging into SAP and you can see that all of my clicks and types are being recorded with this lightweight recording tool. So I can go ahead and create that purchase order item. I can fill in the organization number, et cetera. And once I'm done, recording my process, I can go ahead and end my recording and that recording will automatically be sent to Assisted Task Mining. So let's fast forward a couple of weeks. You can see now that I have all of my collective traces from all of my users. And what's really great about this is that I can see hundreds or thousands of activities quickly and easy within every trace. All of my collected images are masked by -- their PII data is masked by default. And as an analyst, I can come in here and I can edit the text as well as the images to make it super clear as to what I'm doing. Now that I have a full understanding of all of my users and their different traces, I would love to see a holistic view of all my traces in one. So with the new merged traces feature within Assisted Task Mining, I can now merge multiple tasks together into one, quickly and easily. You can imagine if I had hundreds of traces, this would take me days, maybe even weeks. And now Assisted Task Mining does this for me within seconds. You can see here that we have 3 different users extracting purchase order item information from their PDFs, logging into SAP and conditional statements are created that deviate from the Happy Path based on purchase order needs. This is really great for my CoE because now I have an automation-ready workflow that I can export into Studio or I can create a PDD document in word for my process definition. Not only is the CoE going to have a Happy Path, they're also going to have all of the exceptions that were captured here as well. So let's fast forward a year, I can now log into process mining, and I can see the fruition of my process initiatives and automation initiatives here. And with the new compare feature in process mining, I can see and visualize the operational differences between the year 2020 and the year 2021. You can see here that I've -- my maverick buying value has decreased by $20 million. And as I continue to incrementally ingest data, I can use Process Mining and Task Mining to get full visibility into my process. Thanks for watching. Back to you, Ted.

So UiPath Task Mining, Assisted Task Mining will be in public preview next week, and then we'll be generally available first in the cloud by the end of the year and all of the new capabilities in UiPath Process Mining will be available both on-premises and in the cloud as a part of UiPath 22.10. So hopefully, that's given you a good sense of where we are in the business automation platform and where we're taking it next. We believe this is the platform that will be at the heart of your business, living between your applications, your processes, your people, helping them move forward at the rate that they need to. We see this as a platform that goes beyond being a tool to being a strategic asset, driving innovation and business value. We're taking an important next step with 22.10. We're very, very excited about that. I'd invite you to come back tomorrow for my great friend and colleague, Param Kahlon session, where he's going to take you in depth through 22.10 with lots of great demos. We can't wait to get this in your hands, hear your feedback and to see what you build. So I want to thank you so much for your time today. I want to thank you for your partnership with us. Have a great time at the rest of FORWARD in Las Vegas. Thank you so much.

There's a reason why we have people thrive in our tagline of this event, and it runs deeply in this company. I remember when I first met Daniel, I was interviewing and I was -- I ultimately was employed 2005 for the company when we were having lunch, and he said to me, Bobby, I just want to have a company people love to come to work for. And I think why we say work and play, what's the difference, right? It is that -- that's the case when you do what you love. So now I have the distinct pleasure to welcome to the stage, the boss of the bots, the inspiration of automation and a great friend to so many of us, the Founder and co-CEO of UiPath, Daniel Dines.

Hello, friends. I think after so many years, knowing so many of you, I can call you -- I can call all of you my friends. We've built an amazing category together. We've built an entire industry together. It's us, it's customers, it's partners, but we made a big improvement in everyone -- in everyone's lives. So today, I would like to start by giving you a bit of perspective on our path forward. We started 5 years ago, and it was way bigger than we expected. I think in -- it was in New York and I think November 2017, and we were afraid that the fire marshals will going to kick us off the building because we were 700 people and we were expecting only 400. And this is the moment when I knew this revolution of RPA and automation is going to start. And it helped me to make a very big broad bet on next year. And that next year, the FORWARD in next year was when we really showed that these robots are actually going to change the entire industry. We show how the robots are learning new skills. We show how we can infuse robots with intelligence. And then going on this flowing on our success in 2017, 2018, on the FORWARD in 2019, it was the big breakthrough that UiPath made in the world of automation. We show the power of the platform. We've seen there are so many disparate technologies that have to be put to work in order to make a platform. We showed the power of combined components that are part of the platform well integrated. But I will talk a bit later about how this vision of a platform shaped completely our company and the industry. And then last year, we showed how automation helped tremendously our customers during the pandemic. And now today, this is a completely different story. It's a story that both Rob and Ted hinted at. It's the story of how RPA is changing the way we operate, is changing the way we innovate. And again, going back in time, I want to tell you that every company has its own path. We have started in a very humble way. We have started, and I'm not ashamed to admit it, we have started by building a small screen scraping tool, a small tool that we sold to developers. And then we've been 10 years in the trenches, building technology around it, but to no avail. But that hardship, those years, I think, strengthen our resolve to build something amazing. And when we had the opportunity to see how the world receive our technology, when we found product-market fit, when we found that our computer vision-based technology, our workflows are capable of solving critical business problems, it's really the way that everything has started. And it was -- I want to put things in perspective to you guys. 7 years ago, UiPath had almost nothing in revenue, and it was only 10 people in a small apartment in Bucharest, Romania, 7 years ago. And today, we are crossing $1 billion in revenues. And most importantly, we have 34% of market share of RPA. I can say -- I can say the history rewards the fastest and the boldest company. And we have seized this opportunity. We understood coming back to the idea of a platform. We understood this is the moment when there is some convergence in the technologies. It was a convergence in low-code/no-code development tools. It was a convergence of AI-based tools, API integrations. It came to the stage the idea of process and Task Mining, intelligent document processing. So we've seen that our customers were actually trying to use all of them. I think it's so hard to take different technologies, open source, close source, different companies, different support models, making them, working well together. It's so hard. So this is why we imagine this platform that combines everything. And here is what we call today the business automation platform. And we put together process discovery first, and we have Process Mining and Task Mining and you've seen intense demo, how well they work together. It's amazing to see starting with an opportunity that you find in process mining, you understand better the manual task in task mining and then you create an automation opportunity and Automation Hub and then we have developers that can build it and we have a series of tools cater to all sorts of developers and then we have AI-based document processing. We have analytics. We have an amazing orchestrator that helps deploying at large scale, the automations. And we've build on the top of really great controls and governance for our enterprise clients. So -- this platform was essential and what happened in the past 3 years? And -- it's really -- it has resonated so much with everyone. And it's -- I can show you how most of the analysts are rewarded us now as a leader in most of the quadrants. But before that, let's look at the numbers that we have here on the screen. So it's not only the incredible scale that we achieved in just the past 3, 4 years. But I am proud to see the attach rate of the new components that we have brought into the platform. This is a proof that the sum of the constituents of the platform -- the platform is bigger than the sum of the constituents of the platform. This is why our customers have seen the value of the platform. And this is why we are seeing 5x customer growth and our apps, I was actually amazed seeing the demo that Evan put together in front of us to see how well apps and Studio web integrate. It's 2x customer growth in process and Task Mining. And our automation cloud, it's really -- it's parallel to none. We have invested heavily in the first -- in the last 3 years. And again, a good business decision to build our cloud in Seattle, where we could have attracted great talent from Microsoft, from Amazon, paid off [ handfully ]. And our cloud is the fastest-growing segment for us. And as you can see on the screen, it's delivering billions of dollars in customer value already. But now it's not only the numbers. It's everyone that recognizes UiPath as the absolute leader in our category. And I want to share a quick story with you. In 2016, I met our former Chief Strategy Officer, Vargha and he is a brilliant guy, and he was working for Ui at that time. And he told me, Daniel, there are 3 things that you should care when building this business. You have an enormous opportunity in front of you. But there are 3 things that you should care the most, and they might kill you if you don't understand them well. One is get into magic quadrants, getting to analyst reports. This is how enterprise are sourcing technologies. Second was build a relationship with your partners. This is a technology that only partners can deliver at scale. And third was don't f*** up a big customer implementation, and we haven't. And going back to analysts, we work hard and under the supervision of our great CMO, Bobby, we got in 2017 as first time in the leader quadrant. And from them on, it was only going up. And in 2022, we are the leaders in multiple categories. We are the absolute leader in RPA on both axis. And we are the leader in process mining, in cloud testing, in low code and we are just about to get started into the intelligent document processing. But speaking about low-code development, I think very few realize how wide is UiPath platform in terms of low-code/no-code development. We have workflows. We have API low code. We have UI automation low code. We have AI document understanding. Now we got conversational understanding with the acquisition of Re:infer. So our low code is the widest low-code development platform in the world. And -- the addition of our apps that you've seen today and the maturity of our apps really makes them -- makes our platform a very important offering in the space. And this is also recognized by -- and I'm happy to share with you in advance a new recognition from ISG that puts us in the leader quadrant for the entire low-code/no-code development platforms. Also, I want to share with you our philosophy behind building a development platform. As we started as a developer, as the developers, we like open platforms and open means, you'll have to be capable of replacing different components of the platform. You have to be capable of extending the platform. And while I'm very proud of our low-code/no-code app platform, we shall also offer our developers great integrations into other leading application development platforms. And today, I'm really proud to announce a new partnership with OutSystems, which is a leader in the low-code/no-code application development. And that makes our strategy around absolutely clear. We believe that our platform should provide a great immersive user experience when it comes to automation-powered apps. But some of our customers want to build more of what we call tier one-offs, more like custom CRMs, custom ERP system, health care system. And for that, type of scenarios here will come with the partnership with OutSystems. So look, all of this showed clearly our evolution from a tool to a platform. And now I am proud to say, again, this is an evolution to a way of operating and a way of innovating. There are 3 strategic pillars today of digital transformation. And they are cloud, AI and automation. And with automation, our customers are completely reimaging their models. And let's see more what is this new way of operating, what is this new way of innovating. So I call it a new way of operating because it offers unprecedented efficiency in our processes. And like an army, it's heavily dependent on their operations or their line of operations like we've seen recently in the war in Ukraine, any business is heavily dependent on their business processes. The company that offers the higher efficiency in the business processes will be more agile. This is the company that will be capable of building new line of businesses will be faster than the competition. And in terms of operating, the moment we removed the burden of silly repetitive, low-value tasks from our employees, we let them to be -- to do the work that they know the best. They can engage customers, they can solve exceptions. And ultimately, they will be happier and happier people make better companies. And happier people are capable of innovating. They have the inspiration to innovate. So this is the promise of automation. It's changing the way we operate. And the third, it's changing how we innovate. This is extremely powerful. And the conversations right now are completely changing from how do we apply tactical, automation to maybe a small processing, finance to how do we transform an entire company. And here, I have a few amazing examples that some of our customers that really apply to a great extent, automation in their businesses. ADT, the security, the largest security company in the U.S. they are empowering 13,000 plus of their security experts with digital assistance. And then Puma has embedded and woven automation in their supply chain processes. Xerox is reimaging, completely the company putting automation in the center. DHL, which I visited very recently. It's enabling, it's virtualizing, 10% of its workflows across 15 different service like and in more than 150 countries. It's one of the most complex business challenge that I ever seen. And finally, Cigna has the most ambitious plan that I have ever seen from a company. And they are on their path to deliver $1 billion return on investment in -- from their automation investment. These customers are really driving automation fuel transformation. They are leveraging the entire spectrum of automation. This is something that is very -- it's very important for me. We offer this platform that caters to the entire spectrum of automation, starting with personal automation to enterprise automation. And personal automation refers to those artifacts created by everyone in the business for their own use or for very small use of their colleagues because these people understand, they are the subject matter experts. And if we give them the tools to allow them to do some in-place automations. It's going to start the machine, but the real value that we are seeing is delivered by the enterprise automation. And enterprise automation is referred those automations that are created by a centralized group, are created, are deployed and managed by a centralized group. And they can be deployed completely unattended, but they also can be deployed in an attended fashion. But as long as they are centralized, we call it enterprise automation. And UiPath offers the unique platform where people can build with the same set of technologies, both personal and enterprise automation. This is why we cover the entire journey. You can start with personal automation and then you can enhance to automations built by citizen developers with the help of professional developers, but this is the same technology. It's exactly the same set of tools. And going back to enterprise automation and our cloud advanced, this couldn't have been possible without using a great cloud underneath. It couldn't have been possible first without us going strategically to Seattle to build a gray cloud but also choosing Microsoft Azure as our cloud platform. And it's a proud moment for me. Maybe some of you knows that in my former life, I was a Microsoft employee. And it's a proud moment for me to announce the partnership that we have with Microsoft. And it's -- I'm also proud to say that -- perhaps UiPath is the largest company ever built on the Microsoft platform. And I wish to have -- my friend, Scott Guthrie, with me here on the stage, but he's -- it's impossible for him to travel today, but he was kind enough to show us in a video message, how important is the partnership between UiPath and Microsoft for Microsoft.

Hello, everyone, and thank you so much, Daniel. I'm sorry, I can't be at FORWARD 5 in person with all of you. At Microsoft, we're focused on helping every organization in every industry be successful by building their own digital capability. And this principle is core to our partnership with UiPath. In addition to building automation Cloud on Microsoft Azure, UiPath has developed more than 80 best-in-class integrations that are available out of the box to our joint customers. In fact, UiPath is one of our largest partners built on Microsoft technology. The robust integrations within the UiPath Business Automation platform, span Microsoft solution areas, including Office 365 and Teams, Dynamics 365 and Azure Cognitive Services as well as our broader Azure data and the AI platform. Customer success is what both Microsoft and UiPath are very focused on. And with that, I'm very excited to announce that UiPath is now a preferred partner for enterprise automation with Microsoft. As part of our strategic partnership, Microsoft and UiPath are committed to helping our joint customers’ hardest market-leading integrations to increase productivity and accelerate business value. A great example is T-Mobile, we began running the UiPath platform on-premises and migrated UiPath Automation Cloud powered by Azure in less than 90 days. Automation Cloud fully integrates with Azure DevOps, Azure Active Directory and more capabilities and enabled T-Mobile to take advantage of both the breadth and depth of the entire Microsoft Cloud and UiPath Automation Hub on Azure to scale and realize the benefits of the entire platform. I know UiPath offers customers the choice of flexibility when it comes to the cloud and healthcare revenue management company [ Advarra ] has saved hundreds of hours per month in employee productivity by deploying UiPath automation suite in their own Azure tenant to leverage their RPA libraries, proprietary algorithms and scale deployments across their client base. A significant number of Azure cognitive and AI services are also available to UiPath customers as part of the low-code/no-code workflow within UiPath's Studio Designer. One example is national government services, an organization focused on supporting and administering federal health care programs in the United States. They're leveraging Microsoft's Read OCR in conjunction with UiPath Document Understanding to route and process appeals documents around the clock. Finally, I'm pleased to share that today, UiPath is available via the Azure marketplace, which is a powerful channel for our partner ecosystem. Companies like marketing solutions provider, Dentsu, now have a choice to purchase automation for UiPath or its partners or by the Azure marketplace, which streamlines procurement and allows them to receive a consolidated Azure influence. In closing, Microsoft is deeply committed to this partnership, and we're optimistic about our tremendous opportunity ahead. Have a great FORWARD 5 event, and thank you so much.

Well, he would have sounded better in person, hopefully, next time. Our emphasis on enterprise automation, does it mean that we are neglecting personal automation. In fact, with StudioX, we were the first in RPA that we entered the space of citizen developers. And -- you've seen in the formal presentation, in Rob's presentation, how important for Ui was to convert 100,000 people into citizen developers using our technology. We strongly believe in the future of personal automation, and we are bringing more no-code technologies. We are bringing task understanding as you've seen, we believe, in virtual assistance that will connect directly with customers and not the least, we are big believers in the term that we coined the term semantic automation. And we -- we spoke for a while about semantic automation. I'm not sure many people really understood what we were talking about. This is why today, we want to show you a demo. You will be amazed by the simplicity of this demo. But this is actually what it's meant to be. If the technology cannot be made simple, it has not such a great value. So behind the scene, in this demo, we packed so much of our understanding. We packed all our innovation and computer vision. And maybe a few of them remember when we show first time to the world, our computer vision technology. We show how you can send the picture to our technology and we recognize all the controls on that picture like a human user. We doubled down on that technology. We've built document understanding. And we can understand data, we can understand documents lay out. We can understand screens. And moreover, now we can understand how they connect. We went deep into the pattern of work, the pattern of business operations. And if you look deeper at the essence of most processes, you will see people are taking data from one document from one source of data. They are doing data validation, data cleaning and they just paste the data into another application. So now I have the privilege to have here my friend, Cosmin that will show you live this demo. And we've built -- he was instrumental in building and iterating on the concept of semantic automation. Over to you.

Thank you, Daniel. You helped. So -- as Daniel mentioned, in recent months, semantic automation has been taking big strides in becoming the next big thing. The next big thing in automation in UiPath, and I have a feeling that it's actually going to involve the whole computing world in general. So naturally, we wanted to bring our platform semantic capabilities closer to regular users' fingertips. Regular users, meaning business users and even consumers, those users that are not very inclined to interrupt their workflow and just fire up studio and start working on automation from scratch. And what better way to do that to help them than supercharging their -- the tasks that all of us are doing on a daily basis, coping and pasting. So we built this tool that helps in moving data between applications, documents, spreadsheets, files and hopefully, anything that you can throw at it without writing a single line of code or no publishing, just on the fly automation right there in their users' workflow. So let's take a look at a few examples. We'll start with something easy, probably that's something that you've done recently, filling out a check-in form with the airline or even the hotel here. If you do that today, you'd have to type stuff manually, your details, maybe copy some details from the -- your ID or passport and so on. With semantic automation, all you need to do is bring up the document. In this case, it's a passport that contains your details, copy it, define -- say that it's the passport. It's a manual step that we still have that we hope to get rid of pretty soon. And once this is being analyzed, you can -- you see -- you can see some highlights of what data was expected. You can see a preview of the actual data. And then all you need to do is go to the destination. In this case, the check-in form and his paste. Now both of these, the source document and this form are being analyzed to see which data goes where and you get this confirmation screen showing you a preview of your data and where it's actually mapped to. There is a semantic model that powers all this intelligence. And this time, it got everything correctly. But if anything goes wrong, you can just move stuff around, configure it and -- any changes you make here are remembered automatically, so they are used correctly the next time. So basically, the system learns. And now you can just paste your data. And there you go, a process that normally a few tedious moments that probably nobody wants to do can be solved with just a 3 or few clicks. Pretty cool technology. Right. For the next example, we'll take a look at working with Excel, this sort of universal database enterprise model. And let's say that you work in the HR department and as part of the onboarding process, you have to fill out this form with the new employees’ details to send it off to legal maybe. And we have here 3 new employees, but -- and if you have to do that manually today, it's a lot of tedious work, you have to copy each one -- by one by one and paste them in this form. But with clipboard AI, all you need to do is basically select the data that you want, copy it. And actually, I'm going to use the global shortcut, it's Control-Alt-Z and Control-Alt-V because it makes things much faster. So basically copy it, go to the target form, hit paste. Right. So you get this confirmation screen again. And you can see that this semantic model that is powering this mapping is pretty smart. It can tell you that the first name is actually the given name, last name, family name, zip post code and so on. It's actually much smarter than that, as you will see in a bit, but yes. So watch this. Now when you paste this data, all the 3 users are automatically filled out and you get all of them filled out for you, correctly and in a few clicks. So quite a huge time saver. And another detail is you will notice that we use this semantic understanding of the user's intent pretty much everywhere. For example, in this case, for this user, the favorite color was purple but there is no purple in this drop-down. There is only violet, and the semantic model knew that the violet is the closest color to purple and correctly fill that out. Right. So let's close this off. For the last example, we'll tackle unstructured documents. Unstructured documents have been for the longest time, blind spot for automation because as the name implies, they don't have a specific format, a specific structure, something that automation can hook into so we can work with it. Pretty much only humans could work with unstructured documents. But with the recent advances in technology, we are -- we think we are pretty close to solving that. So let's say that you work in maybe insurance company and you get unstructured, basically random contracts like this one. This is a bill of sale for a car. And you have to manually go through all of them and expect relevant information like seller, buyer, vehicle identification, date of sale, stuff like that. It's really tedious work that I don't think anybody wants to do. But with Clipboard AI, you can just do it like this. You copy it. You say that it universal -- use the universal extractor, which can read pretty much any document and then go to where you want to pace the data, in this case, in Excel. And you noticed that this is not even a legit table. It's just a bunch of cell with the borders. And you paste it. Now this semantic model is reading both the source and the destination and is trying to fit to understand your intent to see what you're trying to do, where the data is coming from and where is it going? And as you can see, let me arrange this a bit, it correctly got the seller, the buyer, the VIN, even if this is a VIN and this is called vehicle identification number, date of sale, price and warranty. For the price and warranty, while they are correct, they're not -- they might not be in the best format for you. You want them to be in a numeric format. And the warranty, it's correctly identified, the paragraph that deals with warranty. If you were to do that on your own, it would take a few minutes to -- if I would ask you, does this car involve -- have a warranty or not? Basically, you have to go through all of it. And this helps -- it tells me that the vehicle is sold as is and so on. But if you want to correct that, basically, this format for the price and the warranty you can use natural language because this understands semantics, and you can just use if you want the pricing as a number. You can just say as a number or a numeric format. And same for warranty. If this is not your expected results, what exactly you need, you can just use a bit of advanced coding saying, yes or no. Hit enter and you should get your expected results. So basically, the price in the numeric format and the correct response for does this car have a warranty or not? And then just paste the data, and that's it. And of course, the next time you get a contract like this one, it could be from a different person. So it has a different format, different font, different maybe document type, maybe it comes over e-mail, not in a PDF. You can just use this -- reuse this schema that we've created here and get all the data automatically. Okay. And the coolest part about all this is, if you realize that you actually want to do this more often, you can just go here and export this -- this time, I will explore to the desktop, and you will get an automation built for you that does exactly what you just did. So now you have this automation opened here that contains the part of the extracting of the data and placing it in Excel in the correct location. So now you can modify that, publish it, send it to a coworker, a friend, whoever you want. Right. So that is all we have time for today. But keep in mind that what you've just seen are 3 examples in a wide array of formats and document types and applications that we support. And at the moment, we support quite a few of them, and we're looking to add more of them every day. And most importantly, Clipboard AI is in private preview. So if you would like to try it out, see if it's useful to you or your company, please go to this URL -- to this URL, I think we can automate the slide advancement probably with semantic automation. So then go insider.ui -- this URL, thank you -- to join our preview program, so get access to this and most importantly, give us feedback because this is how we can improve this or join us tomorrow, when we have a half hour of a deep dive in all of this. Thank you.

Thank you, Cosmin. That's awesome. This is the future of personal automation. Last year, I had the privilege to have here on this stage Accenture. My friend, Adam Burden, was here with me, and we have introduced our strategic partnership. Unfortunately, this year he is held back in Florida by Ian Hurricane, my thoughts are to him on his family. I hope he is well. But we have the privilege to have here another great person from Accenture, Penelope Prett, Accenture Global CIO, who will join me today on the stage. Thank you for coming, Penelope.

I'm very glad to be here. And I realize I'm not as good looking or as fun as Adam, but I'll do my very best.

Well, I saw you in action yesterday, and I was really quite impressed how much you think of driving customer outcomes. But coming to what we announced last year, so we talked about having 10,000 practitioners in Accenture train in UiPath technology. How do we -- how have we progressed on this goal?

So over the last year, if we think about what's been going on, we've all seen a rise in the demand for business transformation, but it's not like it used to be, right? It's moving at a compressed time line speed that we've never seen before. So companies have to change to keep pace with what's happening in their competitive sectors or they die. And at the same time, we've got this thing going on around our talent. You're feeling it the same as I am. It is very hard to acquire and hold talent across a variety of sectors. So we have this perfect storm condition where we've got an absolute increase in what we need to be doing from a business perspective and transforming our businesses, and we're crunched in terms of people. So the only possible answer here, Daniel, is for us to find creative ways to move work from the human workforce to a nonhuman workforce to open up that capacity to drive these business transformations. And in light of that, particularly at Accenture, for example, we're planning to scale up 10,000 practitioners on UiPath to meet the demand from the market and to help our clients. And we're seeing it across all industries, but in particular, there are several industries that are really starting to move at pace. They have a lot of manual processes where I think we can make a huge impact, banking, mortgages, insurance and so on.

This is terrific. That's great. So it's really nice to see our great joint success. But how do you see our partnership going into next year?

So when we think about what we've done to date, we have talked to our clients about how they can automate their landscapes and drive business transformation. But let me take a very specific example of a market segment that many of you are living through. 70% of the population of SAP customers has not yet moved from ECC to HANA S/4, right? And that journey is upon us. It's going to have to happen. But as you take your real estate from IT and you move it into the cloud, you're really missing a trick as you and I know, if you don't take the opportunity to transform to the business, to get better at what you do, to get more efficient about how you do it. And as part of these migrations, there's a real opportunity here for every company who has to go through it to think about how they're going to launch a global automation platform to power up the business. It's no longer just a job of the CIO. My job for Accenture is to put the platform out there, put the right guardrails down, help people understand how to use it. But I want to encourage innovation in the business by having them participate in the journey and create their own automations. So as an example, you and I together have created 7 unique enablers in the SAP space. We have plans for a lot more, and we want to pass these on to our client in the market to help accelerate their journeys.

Yes, we are seeing kind of a great opportunity around SAP. Do you have some other capabilities in mind that maybe stood out during last year?

So in the last year, I think the thing that probably I end up talking the most about to other CIOs is that it can be very hard to figure out where to start your automation journey. Automation feels like it's easy. It's a thing of convenience. What's the next available process is right here in my lap. I'm going to automate that and take the benefit and move on. But you've really got to elevate the thinking and think more strategically about process automation, [ quick ability ] automation across the enterprise and how do you do that? Well, for us, it's using something like the process discovery suite, right? And taking a broader holistic view of all the processes in the company on your cloud footprint, looking at them side by side, seeing which pieces of automation might yield the largest business value. What I can tell you from my own experience carrying my company through this journey is that every conversation has to go back to how your unique company calls out value. What's important to you and with tools like this, we can link what's important to us to which of the process automations might take us the closest of that journey line, and then we can prioritize and won our plan accordingly.

Yes, I think that grants us a great future together. Where do you see our partnership going over coming years?

Well, clearly, we're using your product inside our house and with our clients. And it's my intent over the next couple of years to be the customer zero for every large use case that we can develop for the large enterprise.

Well, really customers zero?

Yes. Let me back up a little bit and explain that term. So Accenture is in the professional services sector. And in my industry, I believe, as a CIO, I actually have 2 jobs. One is to run the IT real estate of the company, run it well, run it quietly, run it cost effectively. But we also serve clients. And so wherever possible for me to do so, the second job I really want to power up is to consume new technologies before the larger market is really ready to mass consumer. And that way, I can bring them in the Accenture house. We can find really strong and relevant use cases across our company. We can develop the capabilities, and I can teach all 700,000 people at Accenture what it means to consume automation because I can make them live it, touch it, feel it. And why that's important is because then when we come to talk to you, we've been there. We've done that. We've got the T-shirt. We can talk about how it actually works. We can talk about which use cases we found value in and didn't. It makes it much more real in visceral and hopefully, it's going to speed up the whole process for all of us. So that's what I mean when I say customer zero.

Well, I love it. Thank you so much, really. It's -- I wish all of our customers will become customer zero. Thank you. Thank you, Penelope. Accenture is an amazing -- it's really an amazing partner to us.

We have enjoyed our journey.

It means a lot to us. Thank you so much. We talk a lot today about what automation is doing for companies or enterprises, but it's not a hidden secret that automation is used a lot for good. And we've done a lot in the pandemic. We helped hospitals, nurses, but now I've seen amazing usage when we've seen refugees finding temporary housing faster. We have customer, a steel manufacturer that is automating, monitoring and reporting to help cutting down the greenhouse gases. And -- we have -- we've seen usage of automation to help psychiatrists and to give them hours back and unnecessary bureaucracy and paperwork. Today, I would like to invite 2 of our customers that will show you the power of automation for goods. So I would like to call on the stage Tara Williams, Deputy Chief of Innovation for Oklahoma Human Services and Chris Apsey, Assistant Deputy Commissioner of Georgia Department of Human Services. Thank you both for joining me. It's really amazing to have you here. I'll start with you, Tara first. So how has the automation make a difference on the life of the employees of your state?

So in about 2015, Oklahoma went through a revenue failure. And that means that for some of our staff, we had to do some voluntary buyouts but the work still remained. And for us, it's about accountability for our partners. So our reporting and all of that. It's just a huge part of our business. But because we lost some of our employees, we needed a way to give people basically time back. So automation has been great for us because it has allowed us to be able to give time back to our employees to spend with the clients of the organization of the agency, those people that we serve. So now the time that they spent doing reporting and all of that, the bots can do that for us, right? It can collect our data, you can run off to our systems. It can even connect information between sister agencies so we can serve our clients better. But for us, it's allowed us to move into a space of moving away from transactional experiences with our clients and then to this transformational, how can we help you? It's not just about you need resources, we have resources. Now it's about approaching our work in a way that gets benefits to our clients faster, the benefits they need. It's about getting involved in their lives and being proactive and serving them in a proactive way.

You said it in an amazing way, moving from transactional to transformation. This is quite impressive. But what about you, Chris. I understand that you faced an explosion of applicants for food stamps, and how did you cope with?

Great question. Yes. So previously, when we get a food stamp application, the case worker has to check 47 different data feeds to confirm that the data that we got from the applicant is true. So we check that tax returns, DOL statistics, all these kind of things to confirm that, hey, this person in the family is eligible for food stamps, right? And so that process previously done manually took an enormous amount of time relative to actual one-on-one interactions with case worker or the customer. And so we use RPA to automate a significant portion of that back checking, right? So instead of the case worker logging into 47 different portals to check an individual, the RPA does that on our behalf, right? So instead of spending 8 hours on a case and only one of those talking to case workers, the case workers spend their entire amount of time allocated talking to the customer, which is a massive improvement both for the case worker for time utilization and for the customer experience, which is the most important thing.

This is awesome, Chris. Thank you both, guys. Thank you so much. It's great to see stories like this. Well, the way -- we got to the end. I know you are hungry and the lunch is waiting here. But before finishing, I really want to say how proud I am of being here. And I want to thank you to all the UiPath employees for putting such a great event for building such a great company. It's -- I cannot express in words, how proud I am, how humbled I am to be part and to be part of building such an amazing company. And while we are not the same scrappy start-up that many of us are missing -- missing it in our hearts, I believe that we still are through to our North Star, to our culture, to our framework of operating. And I hope that you will see throughout these days our humility, our customer centricity, our desire to listen to make ourselves better. I hope that I showed you that how bold and fast companies can capture a big market share, and we intend to stay fast and bold and continue our evolution as immerse as we can be in this world where the innovation will change completely, where in the world where the automation is providing a new way operating and a new way of innovation. Thank you all.