Automation Anywhere achieves record Q4 performance with GenAI deals
"Our focus on industry-specific solutions to accelerate process automation results is central to our strategy for the new fiscal year," Shukla
image for illustrative purpose
Hyderabad: Automation Anywhere, a leader in intelligent automation solutions, announced its record-breaking fourth-quarter performance today. The company attributed this success to its generative AI-powered automation solutions, significant deals with large enterprise customers, and strong global sales. Q4 results surpassed forecasts, showing a 50% growth from the previous quarter and a 14% increase in large deals compared to the previous year.
Automation Anywhere is a leader in intelligent automation solutions utilizing AI across organizations. The Automation Success Platform, powered with specialized AI and generative AI, offers process discovery, RPA, end-to-end process orchestration, document processing, and analytics with a security and governance-first approach. The company empowers organizations worldwide to unleash productivity gains, drive innovation, improve customer service, and accelerate business growth, guided by its vision to fuel the future of work through intelligent automation.
"Our Q4 and full year 2024 results demonstrate our ongoing commitment to delivering value to our customers," said Mihir Shukla, CEO and Co-founder of Automation Anywhere. "This year marked a significant milestone for us, achieving profitability ahead of schedule and sustaining robust growth. Our customers are increasingly realizing the benefits of deploying AI and Intelligent Automation solutions at scale to transform their businesses securely. We enter fiscal year 2025 with a strong pipeline and positive momentum."
The company's high customer retention rate reflects strong customer engagement and alignment with Automation Anywhere's strategy. Over the past year, the Automation Anywhere Pathfinder community program grew by 20%, and the Automation Anywhere University saw over 3 million online course completions.
"Our focus on industry-specific solutions to accelerate process automation results is central to our strategy for the new fiscal year," Shukla added. "Customer feedback reinforces the value of GenAI and automation. Customers are embracing the potential of GenAI-powered automation, pushing us to help them achieve measurable and transformative outcomes."
Tim Hodge, Executive Vice President, Trading and Operations for Osaic said, "We've integrated Automation Anywhere's Intelligent Automation platform into various Osaic applications and processes, resulting in significant customer experience improvements and internal efficiencies. We're excited to leverage Intelligent Automation's power in our business."
Mark Conte, Chief Accounting Officer and Controller at JCPenney said, "We've adopted Automation Anywhere's Intelligent Automation platform capabilities and are impressed with early results, excited about the opportunities they create for our business. We anticipate the Automation Success Platform will streamline labor-intensive processes and deliver substantial cost and material savings across our organization."
Key Business Highlights:
• Deals over $100,000 in annualized value contributed over 75% of bookings in the quarter
• Strong performance in the Enterprise segment with robust bookings globally
• Customers completed over 100,000 process automation runs with GenAI in Q4
• Ninety-five percent of customers now exclusively use the latest GenAI-powered Intelligent Automation platform
• Hyperscaler channel partnerships exceeded fourth-quarter booking targets, including Amazon Web Services, Google Cloud, and Microsoft Azure
• A large customer base, high retention, and product differentiation led to increased cash flow and a strengthened balance sheet
Fourth Quarter Announcements:
• Automation Anywhere introduced the industry's first specialized, generative AI automation model to improve process automation development significantly. These models, built on leading large language models, deliver massive productivity gains and a 9x return on investment by leveraging anonymized metadata from over 150 million automation processes across thousands of leading enterprise applications.
• The company launched new benchmarking services and a customer benchmarking database initiative to help companies assess and maximize the business value of process automation deployments, guiding them toward high-value automation priorities.
• The Automation Co-Pilot for Automators solution expanded to include on-demand, generative AI-powered automation capabilities, enabling faster creation of enterprise-grade automation and streamlined business process automation to increase productivity and cost savings.
• Automation Anywhere signed a multi-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to enhance its generative AI and intelligent automation expertise, offering customers greater choice, flexibility, and reliability for their generative AI deployments.
Automation Anywhere's fiscal year ended January 31, 2024. Since it is a private company, its detailed financial information is not available till date.
