Privately held companies rarely share financial results unless they have something to celebrate. That’s the case with Automation Anywhere, which has publicly shared its financial results for the first time. Despite not providing detailed reports, the announcement gives a measure of visibility into the company’s recent successes.
This past year has seen generative AI infiltrate every aspect of the business technology stack, and this vigorous growth has translated into strong results for Automation Anywhere.
Overall, the dollar value of Automation Anywhere’s largest deals increased by over 35 percent year on year. In total, deals over $100,000 in annualized value accounted for 50 percent of Q3 bookings, with the most important results coming from customers in North America, Asia Pacific, India, and the Middle East.
“Third-quarter results exceeded goals across our key metrics, with large deal growth as a robust signal that customers are increasingly adopting our platform for business transformation,” said Mihir Shukla, CEO and co-founder of Automation Anywhere.
Success Drivers
Automation Anywhere attributes these results to three core drivers: the company’s generative AI-enhanced products, large enterprise customer deals, and a global sales portfolio.
“Our GenAI-powered solutions and use cases contributed to 30 percent of the bookings, confirming that customers are looking for the powerful combination of AI and automation technologies to solve their complex challenges,” continued Shukla.
“The combination of strong revenue performance and disciplined cost control allowed us to reinvest in growth.
“Building an enduring ‘Rule of 40’ company is one of our goals and our financial results represent a tangible signal that we’re on the right track.”
Within this bumper quarter, Automation Anywhere announced a series of expansions to its generative AI offering. These included a Responsible AI Layer that acts as a foundational layer to the company’s flagship Automation Success Platform. This foundational layer boasts custom generative AI automation models that enable users to create, run, and automate complex workflows using natural language.
Beyond this, Automation Anywhere’s Responsible AI layer includes various AI tools for security and governance. They enable the access controls, data privacy, and real-time monitoring capabilities required for scalable enterprise automation, while a series of other generative AI products, notably Autopilot, are helping users accelerate automation deployment.
Faster Automation Deployments
While generative AI hasn’t been the only driver of success at Automation Anywhere—the company boasts a substantial customer base, high customer retention, and a dedication to increasing its reach in global markets—it has clearly played a pivotal role in these results. Through its rapid adoption of generative AI, building on a foundation of AI-driven intelligent automation, Automation Anywhere has met the expectations of its global customer base.
The potential for generative AI to impact the field of automation has been identified since the generative AI boom began. Automation Anywhere describes this pairing as putting generative AI to work, and that’s precisely what they’ve done. When RPA and other automation technologies became widely available, there was a palpable sense of industry excitement. However, while the concept was simple, widespread deployment hasn’t always been so.
Generative AI can rapidly accelerate the speed of deployment and scale of automation in an organization, especially when security and governance protocols are in place, as with Automation Anywhere.
Meeting the needs and expectations of customers, as seen by the adoption rate, and cleverly utilizing generative AI in ways that amplify the capabilities of its platform, has powered Automation Anywhere to a leadership position in the field of generative AI-enabled automation.
