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Automation Anywhere Surpasses Second Quarter Goals with Accelerating Momentum After Successful Autonomous AI Agent Launch and Early Customer Wins

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Fourth consecutive quarter of non-GAAP operating income, with more than 70 percent of new and upsell bookings driven by AI-powered automation solutions
SAN JOSE, Calif., Sept. 11, 2024 /PRNewswire/ — Automation Anywhere, a leader in AI-powered automation, announced impressive second quarter results, representing its fourth consecutive quarter of non-GAAP operating income and improving margins. The company also experienced an unprecedented surge in customer demand for autonomous AI agents, with leaders across industries embracing their potential at an accelerating pace and driving a growing pipeline of opportunities.

“The evolving business landscape is driving an unprecedented demand for AI-powered automation and autonomous AI agents to unlock productivity, improve customer experiences, and generate substantial economic value,” said Mihir Shukla, CEO and Co-Founder, Automation Anywhere. “This strategic shift is clearly reflected in our second quarter results. The accelerating adoption of our new system underscores that enterprises recognize the value of autonomous AI agents to assist employees and rapidly unlock ROI from their AI investments.”
In June, the company launched its new AI + Automation Enterprise System that puts AI to work with automation to drive exponential outcomes. Unveiled during Imagine 2024, the offering is infused with the company’s second-generation GenAI Process Models to speed up discovery, development and deployment of complex, end-to-end AI process automations. Included are new autonomous AI Agents to manage and assist with complex cognitive tasks and automate more than ever before across every system in an enterprise. The new platform is helping organizations achieve dramatic efficiency improvements, driving processes that formerly took hours down to minutes, and delivering 3x time-to-value and up to 10x business impact across workflows including customer service operations, finance, IT, and HR. Companies now can automate more mission-critical processes faster, and more responsibly, all with security, compliance and governance built-in.
Key Business Highlights
Large deals exceeding $200,000 increased 70 percent year-on-yearMore than 70 percent of new and upsell deals were driven by AI-powered automation customersContinued to see growth in million-dollar customers, and strong performance in key regionsIncreased momentum with numerous AI Agent customer deal wins since the June product launch, setting a new product launch recordGrowing, healthy cash balanceAdditional Highlights of the Quarter
New GenAI capabilities helped make Document Automation one of the company’s fastest-growing product lines.Customer Net Promoter Score (NPS) saw a 12 percent increase into the upper range of strong NPS for SaaS companies, underscoring substantial gains in customer loyalty, and positioning Automation Anywhere as an industry leader in helping customers plan their automation strategies, measure and achieve ROI targets, and continuously improve the value of automation to their bottom line. The company won its 14th customer support award over the past 18 months for outstanding customer service, support and operational excellence, including two coveted Technology & Services Industry Association (TSIA) awards.Continued to achieve greater than 75 percent license utilization for large enterprise customers, signaling that customers are deriving significant value and placing the company in the upper tier of SaaS industry performance. The company believes this is a much higher license utilization rate than its competitors.Second Quarter Announcement Highlights
Automation Anywhere was recognized by Gartner as a Leader in Automation for a sixth consecutive year in the 2024 Magic Quadrant for Automation. Automation Anywhere was recognized as a Leader for its completeness of vision and ability to execute.Automation Anywhere unveiled its new AI + Automation Enterprise System, featuring second-generation GenAI Process Models and AI Agents for complex cognitive tasks. This includes new offerings such as AI Agent Studio for building custom autonomous AI Agents, Automator AI with Generative Recorder and enhanced Autopilot, improved Document Automation, and a conversational Automation Co-Pilot integrated with Amazon Q.The company expanded its Microsoft partnership, integrating Azure OpenAI Service within its AI + Automation Enterprise System to build enterprise AI Agents for complex automation use cases and enhance document processing capabilities.Jeff Tworek, a seasoned technology sales executive, joined Automation Anywhere as Chief Sales Officer, focused on driving continued growth amid the AI-powered automation boom. This is the second C-level executive to join the company this year and augment the leadership of the company, following the appointment of Tim McDonough as Chief Marketing Officer in April.Automation Anywhere’s second quarter ended July 31, 2024. As a private company, Automation Anywhere does not disclose detailed financial information.
About Automation Anywhere
Automation Anywhere is a leader in AI-powered process automation that empowers organizations to drive productivity gains, foster innovation, improve customer service, and accelerate business growth. The company’s AI + Automation Enterprise System is powered by specialized AI, autonomous AI agents, and offers process discovery, end-to-end process orchestration, document processing, and analytics — all with a security and governance-first approach. Guided by its vision to fuel the future of work, Automation Anywhere is dedicated to unleashing human potential through AI-powered automation. Learn more at www.automationanywhere.com
 
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Gold and Fractal EMS Announce a Partnership for an American BMS

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ANAHEIM, Calif., Sept. 17, 2024 /PRNewswire/ — Fractal EMS Inc. (“Fractal”), a leading provider of advanced solar and storage controls, has announced a groundbreaking partnership with Gold Electronic Equipment Inc. (“Gold”), a leading high-tech company specializing in R&D, active balancing technology and manufacturing of the battery management system (BMS). A signing ceremony and celebration was held on September 9th at the RE+ clean energy conference in Anaheim, California. The new partnership will provide a cybersecure American BMS to customers worldwide (“Fractal BMS”).

The Fractal BMS provides a 3-level BMS architecture (module, rack and system).  The design of the Fractal BMS has been finalized, featuring an American-sourced chip, printed circuit board assembly (PCBA), and cybersecurity, ensuring compliance with U.S. policies for sourcing and critical infrastructure protection. The Fractal BMS has the option to provide active cell balancing to maximize each battery cell’s useful capacity and life.
“Other companies proposing an American BMS have not addressed the cybersecurity concerns of the BMS. Some companies are licensing a foreign BMS or only providing a top-level device, neither of which cure cybersecurity threats and vulnerabilities. We are thrilled to collaborate with Gold to bring this advanced American BMS to the market. This partnership underscores our commitment to innovation, security, and supporting American technology,” said Daniel Crotzer, CEO at Fractal EMS.
Fractal BMS is scheduled for UL testing in late October 2024 and aims to become the gold standard for BESS deployments to mitigate risks associated with Foreign Entities of Concern (FEOC) and known cyber vulnerabilities in programmable devices. The American BMS will be available to battery manufacturers globally, offering a reliable and secure solution for battery management needs.
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Redwood Software placed in 2024 Magic Quadrant™ for SOAP Report

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Based on Completeness of Vision and Ability to Execute
FRISCO, Texas, Sept. 17, 2024 /PRNewswire/ — Redwood Software, a leading and innovative provider of solutions in Service Orchestration and Automation Platforms (SOAP), today announced that Redwood Software has been positioned by Gartner® as a Leader in the Magic Quadrant for SOAP report. The evaluation was based on specific criteria that analyzed the company’s overall Completeness of Vision and Ability to Execute.

Fully focused on automation to drive business outcomes, Redwood’s portfolio of SOAP solutions includes RunMyJobs, ActiveBatch and Tidal, all of which are integrated with Redwood’s highly secure managed file transfer solution, JSCAPE. Redwood uniquely enables enterprises to orchestrate all applications, processes and data, delivering end-to-end automation fabrics for critical processes such as data pipeline management, order-to-cash, record-to-report and supply chain management.
Redwood believes that customers benefit from:
The only SaaS-based composable automation solution purpose-built for hybrid cloud and designed to scale with lightweight auto-updating agentsAn extensive library of pre-built connectors to avoid custom coding, including SAP integrations at the transaction level that maintain a clean coreAdvanced real-time SLA management and monitoring with predictability and dynamic schedulingBest-in-class, rapid response support teams with 24/7 support, contributing to an industry-leading 48 net promoter score (NPS)”At Redwood, we believe in the transformative power of automation. We believe every IT and business process that can be automated, should be automated and lights-out automation is key to continuous growth, innovation and success,” said Kevin Greene, Redwood Software CEO. “This recognition from Gartner, who we feel is one of the most trusted voices in technology research, we believe demonstrates Redwood’s dedication to delivering industry-leading automation solutions, providing people the time and freedom to imagine and define the future – unleashing their human potential.”
A Gartner Magic Quadrant is a culmination of research in a specific market, giving you a wide-angle view of the relative positions of the market’s competitors. A Magic Quadrant provides a graphical competitive positioning of four types of technology providers, in markets where growth is high and provider differentiation is distinct: Leaders execute well against their current vision and are well positioned for tomorrow. Visionaries understand where the market is going or have a vision for changing market rules, but do not yet execute well. Niche Players focus successfully on a small segment or are unfocused and do not out-innovate or outperform others. Challengers execute well today or may dominate a large segment, but do not demonstrate an understanding of market direction.
View a complimentary copy of the Magic Quadrant report to learn more about why Redwood Software was positioned as a Leader at https://www.redwood.com/resource/gartner-soaps-mq/.
Additional resources
Explore Redwood Software on this blog
Follow Redwood Software on LinkedIn
Visit Redwood at Gartner IT Infrastructure, Operations & Cloud Strategies Conferences in the UK and US
Gartner disclaimer
Gartner, Inc. Magic Quadrant for Service Orchestration and Automation Platforms. Hassan Ennaciri, Chris Saunderson, etl. 11 September 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Redwood Software
Redwood Software is the leader in full stack automation fabric solutions for mission-critical business processes. With the first SaaS-based composable automation platform specifically built for ERP, we believe in the transformative power of automation. Our unparalleled solutions empower you to orchestrate, manage and monitor your workflows across any application, service or server — in the cloud or on premises — with confidence and control. Redwood’s global team of automation experts and customer success engineers provide solutions and world-class support designed to give you the freedom and time to imagine and define your future. Get out of the weeds and see the forest, with Redwood Software. For more information, visit www.redwood.com. Follow Redwood Software on LinkedIn, @Redwood Software.
Media Contact: Liz Reilly, [email protected]
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2024 IEEE International Conference on Image Processing Explores the Latest Technical Innovations

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 ICIP 2024 focuses on trustworthy visual data processing and covers cutting-edge topics involving computer vision
PISCATAWAY, N.J., Sept. 17, 2024 /PRNewswire/ — IEEE, the world’s largest technical professional organization dedicated to advancing technology for humanity, and the IEEE Signal Processing Society (SPS) will hold the 2024 IEEE International Conference on Image Processing (ICIP 2024), 27-30 October 2024 at the Abu Dhabi National Exhibition Centre in Abu Dhabi, UAE. ICIP 2024 will be a hub of innovation and learning – examining how AI-based approaches in the field are bringing opportunities, as well as challenges.

The program delves into “Trustworthy Generalization in Visual Machine Learning,” AI/ML learning on visual data, and examines the latest trends in data-driven, learning-based image and video coding standards.
ICIP 2024 will feature insightful tutorials, engaging exhibits and demonstrations, workshops by leading tech companies, career development opportunities, and networking events for practicing engineers, aspiring students, and young entrepreneurs.
“ICIP will provide thought leaders with a platform to reach diverse audiences and encourage a dialogue on topics making a large impact on our industry. We look forward to building connections between top researchers and practitioners in the field,” said Kostas Plataniotis, IEEE Signal Processing Society President.
Plenary speakers include Dr. Touradj Ebrahimi, Convenor of the JPEG Standardization Committee, Dr. Gitta Kutyniok, Bavarian AI Chair for Mathematical Foundations of AI, LMU Munich, and Dr. Mohamad Sawan, Chair Professor, Westlake University; Emeritus Professor, Polytechnique Montreal. View the Technical Program for a summary of conference activities.
ICIP 2024 will bring together corporate, government, and academic researchers, top global leaders in the field and more – register today.
About IEEE Signal Processing Society
Founded as IEEE’s first society in 1948, the Signal Processing Society is the world’s premier association for signal processing engineers and industry professionals.  
About IEEE
IEEE is the world’s largest technical professional organization dedicated to advancing technology for the benefit of humanity. Through its highly cited publications, conferences, technology standards, and professional and educational activities, IEEE is the trusted voice on a wide variety of areas ranging from aerospace systems, computers and telecommunications to biomedical engineering, electric power and consumer electronics.
Media Contact: Caroline Johnson – Director, Conferences, Marketing, and Data Analytics, [email protected]
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