>>From the cube studios in Palo Alto, in Boston, bringing you data-driven insights from the cube and ETR. This is breaking analysis with Dave Vellante >>UI path has always been an unconventional company. You know, it started with humble beginnings. It was essentially a software development shop. And then it caught lightning in a bottle with its computer vision technology. And it's really it's simplification mantra. And it created a very easy to deploy software robot system for bespoke departments. So they could automate mundane tasks. You know, you know, the story, the company grew rapidly was able to go public early this year. Now consistent with its out of the ordinary approach. While other firms are shutting down travel and physical events, UI path is moving ahead with forward for its annual user conference next week with a live audience there at the Bellagio in Las Vegas, it's also fast-forwarding as a company determined to lead the charge beyond RPA and execute on a more all encompassing enterprise automation agenda. Hello everyone. And welcome to this week's Wiki bond Cuban sites powered by ETR in this breaking analysis and a head of forward four we'll update you in the RPA market. >>The progress that UI path has made since its IPO and bringing some ETR customer survey data to contextualize the company's position in the overall market and relative to the competition. Here's a quick rundown of today's agenda. First, I want to tell you the cube is going to be at forward for, at the Bellagio next week, UI paths. This is their big customer event. It's live. It's a physical event. It's primarily outdoors. You have to be vaccinated to attend. Now it's not completely out of the ordinary John furrier and the cube. We're at AWS public sector this past week. And we were at mobile world Congress and one of the first big hybrid events of the year at Barcelona. And we thought that event would kick off the fall event season live event in earnest, but the COVID crisis has caused many tech firms. Most tech firms actually to hit the pause button, not UI path. >>They're moving ahead, they're going forward. And we see a growing trend for smaller VIP events with a virtual component topic, maybe for another day. Now we've talked extensively about the productivity challenges and the automation mandate. The pandemic has thrust upon us. Now we've seen pretty dramatic productivity improvements as remote work kicked in, but it's brought new stresses. For example, according to Qualtrics, 32% of working moms said their mental health has declined since the pandemic hit. 15% of working dads said the same by the way. So one has to question the sustainability of this perpetual Workday, and we're seeing a continuum of automation solutions emerging. And we'll talk about that today. We're seeing tons of MNA, M and a as well, but now in that continuum on the left side of the spectrum, there's Microsoft who in some ways they stand alone and that Azure is becoming ubiquitous as a SAS cloud collaboration and productivity platform. >>Microsoft is everywhere and in virtually every market with their video conferencing security database, cloud CRM, analytics, you name it, Microsoft is pretty much there. And RPA is no different with the acquisition of soft emotive. Last year, Microsoft entered the RTA market in earnest and is penetrating very deeply into the space, particularly as it pertains to personal approach, personal productivity building on its software state. Now in the middle of that spectrum, if you will, we're seeing more M and a, and that's defined really by the big software giants. Think of this domain as integrated software plays SAP, they acquired contexture, uh, uh, they also acquired a company called process insight service now acquired Intella bought Salesforce service trace. We see in for entering the fray. And I, I would put even Pega Pega systems in this camp, software companies focused on integrating RPA into their broader workflows into their software platforms. >>And this is important because these platforms are entrenched. They're walled gardens of sorts and complicated with lots of touchpoints and integration points. And frankly, they're much harder to automate because of their entrenched legacy. Now on the far side of that, spectrum are the horizontal automation players and that's being led by UI path with automate automation anywhere as the number two player in this domain. And I didn't even put blue prism prism in there more M and a recently announced, uh, that Vista is going to acquire them. Vista also owns TIBCO. They're going to merge those two companies, you know, tip goes kind of an integration play. And so again, I'm, I might, I would put them in that, you know, horizontal piece of the spectrum. So with that as background, we're going to look at how UI path has performed since we last covered them at IPO. >>And then we'll bring in some ETR survey data to get the spending view from customers. And then we'll wrap up now just to emphasize the importance of, of automation and the automation mandate mandate. We talk about it all the time in this program, we use this ETR chart. It's a two dimensional view with net score, which is a measure of spending momentum on the vertical axis and market share, which is a proxy for pervasiveness in the dataset. That's on the horizontal axis. Now note that red dotted line at signifies companies with an elevated position on the net score, vertical axis, anything over that is considered pretty good, very good. Now this shows every spending segment within the ETR taxonomy and the four spending categories with the greatest velocity are AI cloud containers and RPA. And they've topped the charts for quite a while. Now they're the only four categories which have sustained above that 40% line consistently throughout the pandemic. >>And even before now, the impressive thing about cloud of course, is it has a spending has both spending momentum on the vertical axis at a very large share of the, of the market share of presence in the dataset. The point is RPA is nascent still. It has an affinity with AI as a means of more intelligently identifying and streamlining process improvements. And so we expect those to, to remain elevated and grow to the right together, UI path pegs it's Tam, total available market at 60 billion. And the reality is that could be understated. Okay. As we reported from the UI path S one analysis, we did pre IPO. The company at that time had an AR annual recurring revenue of $580 million and was growing at 65% annually at nearly 8,000 customers at the time, a thousand of which had an ARR in excess of a hundred K and a net revenue retention, the company had with 145%. >>So let's take a look at the picture six months forward. We mentioned the $60 billion Tam ARR now up over 725 million on its way to a billion ARR holding pretty steady at 60% growth as is an RR net revenue retention, and more than a thousand new customers in 200 more with over a hundred thousand in ARR and a small operating profit, which by the way, exceeded the consensus pretty substantially. Profitability is not shown here and no one seems to care anyway, these days it's all about growing into that Tam. Well, that's a pretty good looking picture. Isn't it? The company had a beat and a raise for the quarter early this month. So looking good, right? Well, you ask how come the stock's not doing better. That's an interesting question. So let's first look at the stocks performance on a relative basis. Here, we show you I pass performance against Pega systems and blue prism. >>The other two publicly traded automation, pure plays, you know, sort of in the case of Pega. So UI path outperformed post its IPO, but since the early summer Pega has been the big winner. Well, UI path slowly decelerated, you see blue prism was the laggard until it was announced. It was in an acquisition talks with a couple of PE firms and the prospects of a bidding war sent that yellow line up. As you can see UI path, as you can see on the inset has a much higher valuation than Pega and way higher than blue prison. Pega. Interestingly is growing revenues nicely at around 40%. And I think what's happening is the street simply wants more, even though UI path beat and raised wall street, still getting comfortable with which is new to the public market game. And the company just needs to demonstrate a track record and build trust. >>There's also some education around billings and multi-year contracts that the company addressed on its last earnings call, but the street was concerned about ARR from new logos. It appears to be slowing down sequentially in a notable decline in billings momentum, which UI pass CEO, CFO addressed on the earnings call saying, look, they don't need to trade margin for prepaid multi-year deals, given the strong cash position while I give anything up. And even though I said, nobody cares about profitability. Well, I guess that's true until you guide for an operating loss. When you've been showing a small profit in recent recent quarters, which you AIPAC did, then all of a sudden people care. So UI path, isn't a bit of an unknown territory to the street and it has a valuation that's pretty rich, very rich, actually at 30 times, a revenue multiple greater than 30 times revenue, multiple. >>So that's why in, in my view, investors are being cautious, but I want to address a dynamic that we've seen with these high growth rocket ship companies, something we talked about with snowflake. And I think you're seeing some of that here with UI paths, different model in the sense that snowflake is pure cloud, but I'm talking about concerns around ARR from new logos and in that growth on a sequential basis. And here's what's happening in my view with UI path, you have a company that started within departments with a small average contract size in ACV, maybe 25,000, maybe 50,000, but not deep six figure deals that wasn't UI paths play it because the company focused so heavily on simplicity and made it really easy to adopt customer saw really fast ROI. I mean breakeven in months. So you very quickly saw expansion into other departments. >>So when ACV started to rise and installations expanded within each customer UI path realized it had to move beyond being a point product. And it started thinking about a platform and making acquisitions like process gold and others, and this marked a much deeper expansion into the customer base. And you can see that here in this UI path, a chart that they shared at their investor deck customers that bought in 2016 and 2017 expanded their they've expanded their spend 15, 13, 15, 18 20 X. So the LTV, the lifetime value of the customer is growing dramatically. And because UI path has focused on simplicity, it has a very facile freemium model, much easier to try before you buy than its competitors. It's CAC, it's customer acquisition costs are likely much lower than some of its peers. And that's a key dynamic. So don't get freaked out by some of those concerns that we raised earlier, because just like snowflake what's happening is the company for sure is gaining new customers. >>Maybe just not at the same rate, but don't miss the forest through the trees. I E they're getting more money from their existing customers, which means retention, loyalty and growth. Speaking of forests, this chart is the dynamic I'm talking about. It's an ETR graphic that shows the components of net score or against spending momentum net score breaks down into five areas that lime green at the top is new additions. Okay? So that's only 11% of the customer mentions by the way, we're talking about more than 125 responses for UI path. So it's meaningful. It's, it's actually larger in this survey, uh, or certainly comparable to Microsoft. So that says something right there. The next bar is the forest green forest. Green is where I want you to focus. That's customer spending 6% or more in the second half of the year, relative to the first half. >>The gray is flat spending, which is quite large, the pink or light red that's spending customer spending 6% or worse. That's a 4% number, but look at the bottom bar. There is no bar that's churn. 0% of the respondents in the survey are churning and churn is the silent killer of SAS companies, 0% defections. So you've got 46% spending, more nobody leaving. That's the dynamic that is powering UI path right now. And I would take this picture any day over a larger lime green and a smaller forest green and a bigger churn number. Okay. So it's pretty good. It's not snowflake good, but it's solid. So how does this picture compare to UI pass peers? Well, let's take a look at that. So this is ETR data, same data showing the granularity net score for Microsoft power, automate UI path automation, anywhere blue prism and Pega. >>So as we said before, Microsoft is ubiquitous. What can we say about that? But UI path is right there with a more robust platform, not to overlook Microsoft. You can't, but UI path, it'll tell you that they don't compete head to head for enterprise automation deals with Microsoft. Now, maybe they will over time. They do however, compete head to head with automation anywhere. And their picture is quite strong. As you can see here, it has this blue Prism's picture and even Pega, although blue prism, automation, anywhere UI path and power automate all have net scores on this chart. As you can see the table in the upper right over 40% Pega does not. But again, we don't see Pega as a pure play RPA vendor. It's a little bit of sort of apples and oranges there, but they do sell RPA and ETR captures in their taxonomy. >>So why not include them also note that UI path has, as I said before, more mentions in the survey than power automate, which is actually quite interesting, given the ubiquity of Microsoft. Now, one other notable notable note is the bright red that's defections and only UI path is showing zero defections. Everybody else has at least even of the slim, some defections. Okay. So take that as you will, but it's another data 0.1. That's powerful, not only for UI path, but really for the entire sector. Now, the last ETR data point that we want to share is our famous two dimensional view. Like the sector chart we showed earlier, this graphic shows net score on the vertical axis. That's against spending velocity and market share or pervasiveness on the horizontal axis. So as we said earlier, UI path actually has greater presence in the survey than the ever-present Microsoft. >>Remember, this is the July survey. We don't have full results from the September, October survey yet. And we can't release them until ETR is out of its quiet period. But I expect the entire sector, like everything is going to be slightly down because as we reported last week, tech spending is moderated slightly in the second half of this year, but we don't expect the picture to change dramatically. UI path and power automate, we think are going to lead and market presence in those two plus automation anywhere are going to show strength and spending momentum as well. Most of the sector. And we'll see who comes in above the 40% line. Okay. What to watch at forward four. So in summary, I'll be looking for a few things. One UI path has hinted toward a big platform announcement that will deepen its capabilities to go beyond being an RPA point tool into much more of an enterprise automation platform rewriting a lot of the code Linux cloud, better automation of the UI. >>You're going to hear all kinds of new product announcements that are coming. So I'll be listening for those details. I want to hear more from customers to further confirm what I've been hearing from them over the last couple of years and get more data, especially on that ROI on that land and expand. I want to understand that dynamic and that true enterprise automation. It's going to be good to get an update face to face and test some of our assumptions here and see where the gaps are and where UI path can improve. Third. I want to talk to ecosystem players to see where they are in participating in the value chain here. What kind of partner has UI path become since it's IPO? Are they investing more in the ecosystem? How to partners fit into that flywheel fourth, I want to hear from UI path management, Daniel DNAs, and other UI path leaders, they're exiting toddler Ville and coming into an adolescent phase or early adulthood. >>And what does that progression look like? How does it feel? What's the vibe at the show. And finally, I'm very excited to participate in a live in-person event to see what's working, see how a hybrid events are evolving. We got a good glimpse at mobile world Congress and this week, and, uh, in DC and public sector summit, here's, you know, the cube has been doing hybrid events for years, and we intend to continue to lead in this regard and bring you the best, real time information as possible. Okay. That's it for today. Remember, these episodes are all available as podcasts, wherever you listen. All you do is search braking analysis podcast. We publish each week on Wiki bond.com and siliconangle.com. And you can always connect on twitter@devolanteoremailmeatdaviddotvolanteatsiliconangle.com. Appreciate the comments on LinkedIn. And don't forget to check out E T r.plus for all the survey data. This is Dave Volante for the cube insights powered by ETR be well, and we'll see you next time.

>>From the Bellagio hotel in Las Vegas. It's the cube covering UI path forward for brought to you by UI path. >>Welcome back to Las Vegas. Live the cube. Yes, it's live in Las Vegas at the Bellagio. Lisa Martin, with Dave Alante, we are covering UI path forward for very excited to be here, talking with customers, UI path, employees, partners, lots of great conversations going on about automation and the acceleration that we're seeing, especially in the last 18 months. We've got two guests here with me today to talk about emerging technologies, specifically continuous process discovery. Please welcome Paula Katikia VP of product management at UI path and Layla Deleage CIO and digital officer at Coca Cola. Ladies, welcome to >>The program. Thank you. It's great to be here. So let's >>Talk about public. Let's start with you. Continuous process discovery. Define that for us. What does that mean? >>So process discovery has been, um, a concept that's been around for awhile, right? It's enterprises have a bunch of processes that are deployed and people are following them. Um, the concept of discovery has existed. What we're trying to do with continuous process discovery is enable you to identify the processes, figure out how to optimize them and then automate them once they're automated, we want to monitor them and then keep doing that cycle over and over again, using technology rather than having fill in, having people fill in paperwork and then having those processes go out of, um, out of, um, status, like right away, because they're just becoming stale with continuous process discovery. They don't become stale. You're getting that real time feedback loop and you're getting the processes to work and to end continuously. >>So I wonder if I could follow up on that because I remember when you guys made the acquisition of process gold. And so as somebody who's heavily involved in product management, how did you go about, I mean, it's been, sounds like it's seamless, but it never is. Right. But how did you go about integrating and making it appear as though it's just kind of part of the platform? >>I mean, there's a lot goes into that right. Process gold was a great technology to begin with. So it wasn't a huge stretch for us to take it and integrate it and make it part of the platform. Um, typically when we acquire companies, we look for product market fit. We look for a technology fit. We look for people fit and we had that with process gold. The other thing to add there is a process discovery, um, specifically with Parsis gold and automation go hand in hand, you can't having one without the other is kind of leaving half of your solution on the table and just focusing on understanding and not focusing on implementation. And so it was very easy to take that technology and make it part of the hyper automation platform. >>Well, the reason why I asked that question is because it sort of coincides with a customer's journey where you go from sort of a individual department. And then now you're saying, I always say pave the cow path. And I kind of take a process that I know I'll just implement that even might not be the best I'm going to repeat and takes you to a new realm. And so this is, to me, this is all about how incumbent companies, a hundred plus year old companies can actually be digital disruptors as opposed to being disrupted themselves. Right? A lot of smart people running these big companies. So last time we talked, you were relatively new inside of a year. So how's the journey going. And, and how does it tie in to some of the advancements that UI path has made? Yeah, >>Absolutely. So the journey is going great. I like to work to use accelerate. So I'm here to accelerate and transform and why we have to do it is so that we don't become obsolete and we continue to be relevant for our customers, for our employees. They're important and for our community. So the are doing a lot of finished running a lot of initiatives. When you look at being relevant for the customer, that means we have to transform the way we operate and our business models. We have to generate new revenue streams now that are enabled and based on data and technology, while you do that, you have to create efficiency internally. You cannot create great experiences with customers and you work with very monolithic and very old school, traditional processes or based off working and systems. So you have to make sure that you adapt and change and transform the way you work internally to meet the customer's needs and demand and generate these new business models. >>So our starting position was automation. We have to automate at an extreme speed, but we also wanted to go really far without automation, not just fast and hit with task automation and just automate these traditional 50, 60 year old processes, but have Doobie identify what else is there? There's a wealth of opportunity when you look at an end to end process. So that's where process mining as Polak described, comes into play. And actually we started affiliating with process mining during process gold. So your question around how the integration went, we actually went through that. I think the UI pads, one key value that they have, and they should never use is listening to the customer. So the got to get her with iPads. And we said, there's more to what we can do with automation. And we implemented process mining for one end to end process, amazing results, just one country, one end to end process, amazing results. But it's because of the partnership. We know what we need to achieve, but we have to do, and they know how to help us to get the technology up and running or adapt to technology and improve the technology. So that's where we are achieving outcomes. We are generating new business model, new revenue stream, automating internally re-skilling and up-skilling our people, which is extremely important that comes along with automation that redesign exciters sorry, but that redesign a work is >>Very important in the CEO's role is very important in that as well. I wanted to talk though about something that you just said with respect to the listening piece that you have is so good at this morning in the keynote. Mary said too, you know, all that, which was standing room only, which was amazing to see, um, in this day and age, but that they wanted to hear from customers. What are we doing? Right? What are we not doing that you want to see more of? What do you want to see less of? Talk to me about the direction and advice that you, as the CIO of Coca-Cola is able to provide to flock and the team about where you I've had this going, right. It's really on a very fast cadence. >>Absolutely. So as Coca-Cola TJ, we started the journey with two iPad, three years of work. Exactly. I was on the job and the second big technology decision I made was the iPad. And since then it was fear consistently think. But during our cab meeting, Daniel said something, he said, I'm not welcoming the request. He said, we welcome. He said, no, no, sorry. I am not welcoming. I'm requesting you to give us insight. And I think that's very critical. That's what we want to hear. At the end of the day, we are technologists. We are total leaders, but the are better taught leaders with our technology partners. So we want technology partners to show us the way sometimes. And with low code, no code type of approaches. And the evolution of the technology that UI path is, has been running since the past three years is helping us remove so many barriers. >>When it comes to people, they are listening to us in terms of the roadmap and what should be implemented and what should be prioritized VR, providing with them, our roadmap, our vision on where we want to go in automation and hugged battle. We want to integrate with other ecosystem and environments that we have. They are listening to us in terms of, for the existing products, what can be improved, what can work better? And we don't need a cab actually for you iPad to listen to us. We work hand in hand with two iPad team continuously be coil, you know, eight sometimes. So, and that's what we want them to continue to do. They are great technologists, as long as they continue to listen to us, they're going to be greater technology. >>Yeah. And I'll share my perspective on this, this, this, you know, these partnerships actually make us build better products, right? We get to, this is how we stay ahead of the curve by listening to our customers, because they're the ones who are doing the implementations. They understand how our product works. We can design it, we can test it. But that's the extent to which we can go once they implement it is when we know what's working, what's not working. And how do we take that feedback and make better products. So it's a two-way street. We love hearing from them constantly. >>You have to decode what the customer is saying sometimes, right? Like Steve jobs said, yeah, if you just ask the customer what they want, you'll never build, you know, something that's game changing the world changing. And so, so you have to talk to Layla, you get the input from COVID, Coca-Cola maybe many and then other customers to figure out, okay, how can I apply this? So that actually can scale and meet the needs of many customers. Not just so, because otherwise you end up being, you know, a custom development shop, which ironically is what you guys were 20 years ago. Right? So it's kind of some art involved in the science of listening. Isn't it? >>There is definitely, I mean, most of our job as product managers is to design the product, right? It's very much art and the feedback that we get from Layla and others, it really just helps us focus on a vision. But, you know, keeping up with new technology trends, figuring out how to figuring out how to, um, bring AI into our product vision and looking beyond what we're being told and asked for and looking forward at what the next trends are going to be in technology is what helps us continue to innovate. So it's both, it's the balance of what we're hearing, but also technologies. And what's possible with what's available >>Question for you. You said three years ago, you guys brought in UI path, right after you joined the company as it's CIO, why U I path, clearly you looked at some of the other folks, you mentioned that company that they acquired, but what in your mind differentiates what they're able to deliver on the partnership side and the technology side? >>Yeah. Very important question. We have a definition for a technology partner for us, the technology partner needs to meet criteria of innovating. So how much do you invest in innovation? And Daniel says, I don't even know the number, right? So because we want them to be on the forefront. Sometimes they have to pull us and sometimes we have to pull them. The second one is very important for a company to be successful in automation or in any advanced technology, you have to build intellectual property within your enterprise. And we did not want to art source technology. We wanted to insource technology and we asked you, I pad, if they would be reeling to co-innovate, co-develop collaborate with us. They were the only ones who allowed us to build the intellectual property within my enterprise, because that's the way I'm going to innovate. And that's the way I'm going to help product leaders like Pollock to create better products. Right? So, and the third one is just building expertise. Low-code no-code the technology company needs to, you know, wait where they remove some of the barriers for me to find the skills or develop talent, how easy it is to find the talent and skills to develop this technology. Right. And what, what does the technology company do to develop skills? So these are a few criteria that we have, and then when the company takes all of those, they are in, >>I'm interested in, um, to kind of shift the conversation. If I may, in your, your role, it's not uncommon to see a CIO and a chief digital officer together, but it's quite uncommon at a, at a large firm like Coca-Cola. And, and I'm wondering, is that how the company, cause your group sees information in digital? Is that how the company's organized? You know, that you plug into somebody who has that to a role. Can you talk about, >>Yeah, absolutely. So cocoli too. Jake is within the Coca-Cola system. We are one of the leading butlers within the Coca-Cola system. The reason I merged the two roles is to be successful in the digital era. When you have the digital and it separated. If it goes a little slower, you can not be successful in digital and you cannot be successful in generating new revenue streams or new business models. So you have to orchestrate that evolution and transformation of it and the rest of the business together. And that's why I merged the two roles. We are unique as Coca-Cola >>Merged them. You say you merged those roles, like, did you come at it from the, where you digital first and then CIO first >>Digital first. Okay. Great point. I built from scratch and started with the digital strategy. And then we went into defining what roles, what skills do we need? And then we redefined, what are the improvements we need on the it side? But it was all digital product based >>Because I think, uh, I think it would be much harder for a CIO, let alone a woman CIO, no offense, but I don't think there's any offense there, but oh, she's trying to do a land grab. I could see that happening, but the digital officer title, because that's the hot title and it's the visionary. Right. And it's a lot of times it's undefined. Yeah. So that's that and that, and that that's the structure of the organization. So you roll up into it. >>Uh, so yeah, because I came into the ex-con role. I had the privilege to kind of shape it from scratch. >>Exactly. And >>Like Shankar was talking about hidden brain and all the change this morning, it was a change in terms of how are we going to approach digital? It was a change in terms of all the people who are part of the company and people who have been in technology or it before right now, the expectations are very different. You have to be product organization, you have to be outcome centric. You have to generate the revenue streams. So it's very different from the world of it. I think any it or any technology leader can do this, if they are willing to transform themselves first and then their organization, and then they can transform the rest of the company, >>Chief digital officer data is a big part of your role. You're not the chief data officer, >>The organization, that's >>Part of your, okay, so the CDL reports into, okay, and that individual sure is responsible for governance and compliance. >>Well look, the data management, data governance, the foundation, and all the database solutions, I think >>You got it right. I think this idea of creating stovepipes, it just it's, it's not as productive and it's harder to make decisions that are aligned with the organization's goals, >>Boulder. So we're going to disrupt further. Our goal now is to create platforms and then democratize the platforms. So our operating partners can learn the new skills and they can develop their own use cases on the platforms. And that way they'll go much, further and much faster in terms of the generational new revenue, streams, changing, operating models, data and technology. I call it the new operating system of any business and everybody must learn >>Well. And that's what I want to ask you about, because if you think about, uh, uh, a company and incumbent, like Coca-Cola your processes over the years have in your data, maybe they were organized around the bottlers or the distribution channel, et cetera. And that might not be the best process. So you have to take a look at that and then use process mining to say, actually, what is the best process, reinvent yourself? Okay. >>Absolutely VRD and re-engineering and reinventing in a lot of places. Process mining helped us in short order to cash cycle. Everybody, every company has ordered to cash process. We took an order to cash process, which we recently standardized, by the way we thought we did. And every process mining told us that very few times you go through the happy path. Most of the times you go out of the happy path. So gave us a lot of tangible outcomes where we improve the cycle time. And it's an interesting process because you touch the customer it's impacts your delivery and your commitments to the customer. And it makes life easier for the employees. When you improve the process, this is only one piece VR also transforming the way we are interacting with our customers using digital means and digital channel. But one thing is very valuable with us while we do all of this staying hybrid is very important. Like with everything else, they do that human touch and personal relationship with our customers and consumers is invaluable. So we going to keep that doesn't matter how digital we go or how much technology we implement. They're going to keep the customer and consumer connect the most valuable asset that we have. >>Absolutely. It is. I'll go ahead. >>I was going to say, this is the one thing that, that we think about when we're designing our products, right? It's how can process my mining help you optimize your workflows, such that you can spend more time with the customer such that you can spend more time and get back to them faster. >>Yeah, that's critical. They, I always say the employee experience is inextricably linked to the customer experience. And so what you just talked about, you talked about so much stuff that I'd love to unpack. We probably don't have time, but coming in as with a transformation mindset, one being, you mentioned, you know, leaders need to be willing to embrace that. Obviously you were, but as a CIO, >>Working with UI path, you're really helping to redefine work. And also that customer experience, to an extent, how's your iPod helped facilitate that. So because they are listening and they are willing to partner with, and I think the most importantly, they're going to be part of our outcomes. They care about our outcomes. And going back to your question, how do we select a technology partner? That was one of the critical items. Outcomes are very critical. If there's no outcome, there's no point in it are not doing technology for the sake of doing it. We are, yes. We are all excited with what technology can bring and removing barriers very important, which is a huge, another huge topic. But if you don't generate an outcome it's meaningless and you AIPAC is willing to understand the outcome we are generating. So it's less of a commercial discussion, more of a technology and outcome conversation. >>So whether it's an customer outcome or an employee outcome or a cash outcome, financial outcome, I think that's why we have been successful. And they have been on the journey with you, iPad process mining. I think they are one of the very few clients, right? Customers of UI path who are using it. And because we are very progressive organization, you AIPAC is listening to our feedback and implementing back to your earlier question, you have so many customers who do you listen, right? So when you are progressive and when you really know what you are doing, you're also pulling your iPad, a big technology company into a direction that is more meaningful. So they listen to us in terms of what to improve with process mining. And that's why we were able to achieve the outcomes. And now they are listening to us further on further improvements on process mining so that we can capitalize on further outcomes and benefits of process mining >>In order to cash is common use cases. So what, what, uh, were there any diamonds in the rough, or do you suspect there are with, >>We already realized, yes. We realized multiple tangible outcomes. We discussed this with Polak earlier today. One of them is some very interesting, I'm not able to share, but the most critical one is be focused on improving cash cycle. It's scent. You can imagine extremely full flow business, even within FMCG, right? We as Coca-Cola system, we are an extremely flow business. It's an instant consumption business. Hence your delivery and cash cycles are very different compared to other industries. So we said, we want to improving cash. We discovered that the improved, the invoice due date change, which impacts the payment terms by 20%, we improved credit limits approvals by 5% by removing unnecessary approval steps. We realized there were unnecessary approvals. These two are directly impacting our customers as well because it's waiting in somebody's queue to handle those approvals. And the customer is not getting to delay delivery because it's payment, payment and delivery go hand in hand. >>And the third one is, and I'm not able to articulate it exact outcome, but it's a very critical day, every day gain on getting cash. So it's a cash game. The next big outcome is the cycle time improvements. So we significantly improve the cycle time of the process. And this means efficiency for our employees. We are making life easier for them. The last one is again, a tangible one 30,000 hours back in terms of productivity, one process, one country, 30,000 hours. And that translates into exactly that translates into benefit for the customer. You increase customer satisfaction, you increase employee satisfaction. 'cause you remove all the non-available for it. So going back to Pollock's point around continuous discovery, that's why we love it. It's like good old lean six Sigma lean six Sigma is exactly that you continuously, you want to continuously improve the process. You don't do it once with process mining. We don't want to do it once. We want to do it continuously, but this time with automation, >>But before we go, I'm the lone male on the panel. So I have to ask. So, so you CIO seat, chief digital role, very uncommon, let alone uncommon for a woman. Big time product management person. Okay. That's cool check. Right? You've been in the industry for a while now, a celebrity on the, on the cube and elsewhere. So has the pandemic, how has the pandemic affected the whole women in tech trend? Has it slowed it down? Has it accelerated? We were talking earlier about the working moms feeling like way stressed out more than the working dads, double 30% versus 15%. Has the pandemic in your minds altered in any way, was women in tech meme? How so positive. Negative. >>So we are trying to turn the negative into a positive. It is negative. Absolutely. I think it's impacted everybody, all, all women in all industries and in all areas of operation and workforce women in technology is already a very slim, right? It's a very tiny layer within any company and out there in the society. And unfortunately the challenges that came with COVID impacted and some of them had to leave and they couldn't stick around. Right. So we are trying to turn that into positive. As a digital function, we have a big give back initiative. It's a priority of the digital team. I'll be talking about that very in, in, and our technology removes barriers. So we have to turn this into a positive, yes, COVID has impacted everybody personally and directly or indirectly. But now with technology, we can remove barriers. We have now flexible working and hybrid working models, being ramped up across all geographies and all industries and all companies, technology removes barriers. >>We can teach technology to a lot of people and our communities and they can join because we have huge skill gaps in technology that would sat is we have huge scarcity of skills in technology. And we have very few people, but we are talking about women dropping out or any type of minor to dropping out, right? So we can leverage and improve and turn it around. I hope we'll accomplish to do that. We started doing that in our company and in Turkey. And we are trying to expand that across multiple other countries with NGO partnerships, helping women to gain certain skills so that they can join the economy again from wherever they are. >>And from my point of view, I think there are two aspects to it. As Layla said, it has affected women a little bit more, but I've also seen, in some cases it has leveled the playing field a little bit because there's, you know, everybody's on zoom. The kids show up on zoom cameras for men, just as much as they do for women. So it helps shine a light on things that we would normally go through that nobody would know about. And I thought that was a really cool outcome to some degree of this. You know, my manager prom has little kids and they'd be in his background all the time, just as my little kids would be by background. And I'm like, oh wow. So you know how it feels to be the caregiver at home. And I thought, I thought that was a positive outcome of the whole being a female in technology. I liked that >>That's something that I hadn't thought about in terms of leveling the playing field like that there's in this situation, there are both positives and negatives. I like how you're seeing the playing field level a bit more and how you're at. Coca-Cola looking to, how can we turn this negative into a positive lots of opportunities there we uncovered a lot in the last, I'm going to guess 20 minutes talking about continuous process discovery, all the way to women in technology, how you're each doing that and what your perspectives are. I wish we had more time. We could keep going, but ladies, thank you for joining David. >>It's been a pleasure >>For Dave Volante. I'm Lisa Martin live in Las Vegas at the Bellagio UI path forward for it. We'll be right back.

>>From the Bellagio hotel in Las Vegas, it's the cube covering UI path forward for brought to you by, >>Hey, welcome to the cubes coverage of forward for UI path forward for live from the Bellagio in Las Vegas. I'm Lisa Martin with David. David's great to be back sitting at an anchor desk. >>Yeah, good to see. This is my first show. Since June, we were at mobile world Congress and I've been, I've been doing a number of shows where they'll they'll the host myself would be there with some guests as a pre-record to some simulive show, but this is real live awesome to be working with you again. So we did live last week at a DC public sector summit for AWS next week's cube con. So it's three in a row. So maybe it's a trend. It we'll see. >>Well, the thing that was really surprising was that we were in the keynote briefly this morning. It was standing room only. There are a lot of people at this conference. They think they were expecting about 2000. And to me it looked like there were at least out, if not more >>Funny leases, most companies, if not virtually all of them, except for a handful are canceling physical events. And because they're saying their customers aren't traveling, but I've talked to over a dozen customers. I just got here yesterday afternoon. I've talked about 10 or 12 customers who are here. They're flying, they're traveling. And we're going to dig into a lot of that. Today. We have Uber coming on the program. We have applied materials coming on, blue cross blue shield. I'm really happy that you AIPAC decided to, to put a number of customers on the cubes so we can test what we're hearing, you know, in the marketing. >>Well, one of the first things that they said in the keynote this morning was we want to hear from our customers, what are we doing? Right? What are we not doing enough of? What do you want more? They've got eight over 8,000 customers. You mentioned some of the ones that are going to be on the program this week, including Chevron and Merck who are on today. And 70% of their revenue comes from existing customers. This is a company that has, is really kind of a use case in land and expand. Yeah. >>And I think you're going to see this trend. You know what it's like with COVID it's day to day, month to month, quarter to quarter, you're trying to figure out, okay, what's the right model. Clearly hybrid is the, is the new abnormal, if you will. And I think we're going to see is, is you're going to have VIP events. And this is kind of a VIP event. It's not, you know, 5,000 people, it's kind of 1500, 2000, but there are a lot of VIP customers here. Obviously the partners here. So what they did before the show is they had a partner summit. It was packed. You talked about standing room only. They had a healthcare summit, it was packed. And so they have these little VIP sections, little events within the event, and then they broadcast it out to a wider audience. And I think that's going to be the normal one. I think you're going to see CEO's in a room, maybe in a hotel and wherever in Manhattan or, or San Francisco. And then they'll broadcast out to that wider audience. I think people are learning how to build better hybrid events, but by the way, this is all new. As I said, hybrid events, I meant virtual events. And now they're learning to learn how to build hybrid events. And that's a whole nother new process. >>It is. But it's also exciting to see the traction, the momentum that is here from, you know, they and they IPO at about what six months ago, you covered that your breaking analysis that you did right before the IPO and the breaking analysis that you did last last week, I believe really fascinating. Interesting acceleration is a theme. We're going to talk about the acceleration of automation and the momentum that the pandemic is driving. But this is a company that's accelerated everything. As you said on your breaking analysis, lightning in a bottle, this is a company that went global very quickly. We're seeing them as some of the leading companies. We can probably count on one hand who are actually coming back to these hybrid events and say, we want to be with our customers again and learn from you what you're doing, what's going on. And we've got a lot of news to share. >>Yeah, we've been covering UI path since 2015. And the piece we wrote back at IPO was, uh, you, you bypass long, strange trip to IPO and it, and it was strange. And that they kind of hung out as a software development shop for the better part of a decade. And then just listening and learning, writing code, they were kind of gigs writing code and loved it. And then they realized, wow, we have something here we can. And they, their uniqueness is they have a computer vision technology. They have the ability to sort of infer what a form looks like and then actually populated. And the thing that UI path did that was different was they made it sound, sounds crazy. They made the product really simple to use, and we know simplicity works. We see that with best example in storage storage, a complicated business, pure storage, right? >>They pop it in. You kind of Veeam is another one. It just works. And so they, they created a freemium model. It made it easy for departments to start small, you know, maybe for 15, 20, 20 $5,000, you could get a software robot and then it would do things like whatever it, it would pull data out of one spreadsheet, put it into another pull date out of one, SAS populated and people then realize, wow, I am saving a ton of time. I can do some other things I'm more productive. And then other people looking over her shoulder would say, Hey, what is that you're using? Can I get that? And then all of a sudden, like you said, lightning in a bottle and it exploded, not a conventional Silicon valley, you know, funded company, even though they got a lot of funding, they got, they raised, I think, close to a billion dollars before they went public. Um, and now they're public went public in April. The stock has been sort of trending downward for the last four or five months, a little bit off on sympathy, but you know, >>What do you think that is? They had such momentum going into it. They clearly have a lot of momentum here. 8,000 plus customers. They've got over 1200 customers with an ARR above a hundred thousand. Why do you think the stock is? >>So I think a couple of things, at least, I think first of all, the street doesn't fully understand this company. You know, Daniel DNAs has never been the CEO of a public company. He's not from Silicon valley. He's, you know, from, from, uh, Eastern Europe and they don't know him that well, uh, they've got, you know, the very, very capable, and so they're educating the streets. So there's a comfort level there. They're looking at their growth and they're inferring from their billings that their growth is, is declining. The new growth from new customers in particular. But there, the ARR is still growing at 60% annually. They also guided a little bit conservatively for the street. And the other thing is they've been profitable. I'm not if a cashflow basis. And then they guided that they would actually be, be somewhat unprofitable in the coming quarter. >>People didn't like that. They don't care about profits until you're somewhat profitable. And then you say, Hey, we're going to be a little less profitable, but of course they get events like this. So that, that, I think it's just a matter of the street getting to understand them. And I will say this, and you know, this, they're getting a lot of business from their existing customers. We saw this with snowflake, uh, Cleveland research, put out a note saying, oh, Snowflake's new customer growth is slowing. We published research from our friends at ETR that showed well, they're getting a lot of business from existing customers that sort of fat middle is really where they're starting to mind. And you can see this with UI path. The lifetime value of the customers is just growing and growing and growing. And so I'm not as concerned. The stocks, you know, we don't, we don't, we're not the stock advisors, but the stock is just over 50. >>Now it wasn't 90 at one point. So it's got a valuation of somewhere around 26 billion, which was closer to 50 billion. So who knows, maybe this is a buying opportunity. There's not a lot of data. So the technical analyst are saying, well, we really don't know where it's going to cook it down to 30. It could go, could go rock it up from here. I think the point Lisa is, this is a marathon. It's not a sprint, it's a long-term play. And these guys are the leaders. And they're, I think moving away from the pack. And the last thing is this concern about competition from Microsoft who bought a company last year to really in earnest, get into this business. And everybody's afraid of Microsoft. >>Well, one thing that we know that's growing considerably is the total addressable market pre pandemic. It was about 30 billion. It's now north of 60 billion. We've seen the pandemic accelerate a lot of things. Talk to me a little bit about automation as its role in digital transformation from your side. >>Yeah, I think, you know, this is again, it's a really good question because when you look at these total available market numbers, the way that companies virtually all companies, whether it's Dell or Cisco or UI path or anybody, they take data from like Gartner and IDC and they say, okay, these are the markets that we kind of play in, and this is how it's growing. What's really happening leases. All these markets are converging because of digital. So to your question, it's a di what's a digital business. A digital business is a data business and they differentiate by the way in which they use data. And if you're not a digital business during the pandemic, you're out of business. So all of these markets, cloud machine intelligence, AI automation, orchestra, uh, container orchestration, container platforms, they're all coming together as one, it's all being built in as one. >>So 60 billion, you know, up from 30 billion, I think it could be a hundred billion. I think, you know, they threw out a stat today that 2% of processes are automated says to me that, I mean, anything digital is going to be automated. So that is hundreds of billions of dollars of, of market opportunity, right? And so there's no shortage of market opportunity for this company. And that's why, by the way, everybody's entering it. We saw SAP make some acquisitions. We S we see in for talking about it, uh, uh, Salesforce, uh, service now, and these SAS companies are all saying, Hey, we can own the automation piece within our stack, what UI path is doing. And the reason why I liked their strategy better is they're a specialist in automation horizontally across all these software stacks. And that's really why they're Tam, I think is, >>And that gives them quite a big differentiator that horizontal play >>It does. I think I see. So I don't see, I think there's a continuum and I think you got Microsoft over here with Azure and personal productivity in their cloud. And then you've got the pure plays, which are really focusing on a broader automation agenda. That's UI path, that's automation, anywhere I would put blue prism in that category blueprints. And by the way, he's getting, getting acquired by Vista, and they're gonna merge them with TIBCO company that, you know, quite a bit about, and that's an integration play. So that's kind of interesting. I would put them as more of a horizontal play. And then in the fat middle, you've got SAP and in four and, you know, IBM is getting to the game. Although they, I think they OEM from a lot of different companies and all those other companies I mentioned before, they're kind of the walled gardens. >>And so I think that UI path is less of a head-to-head competitor with, with Microsoft today anyway, than it is for instance, with automation anywhere. And it's, and it's growing faster than automation, anywhere from what we can tell. And it's, it's still a leader in that horizontal play. You know, you never discount Microsoft, but I think just like for instance, Okta is a specialist in, in, in access identity, access management and privileged, privileged access management and access government, they compete with Microsoft's single sign on, right. But they're a horizontal play. So there's plenty of room for, for both in my view. Anyway, >>Some of the things that you can you think that we're going to hear, you know, seem to be at this inflection point where UI path wants to move away from being an RPA point solution to an enterprise automation platform they made, they made some announcements about vision a couple of years ago at the last in-person event. What are some of the things you think that are going to be announced in the next couple? >>That's a really good question. I'm glad you picked up on that because they started as a point tool essentially. And then they realized, wow, if we're really going to grow as a company, we have to expand that. So they made acquisite, they've been making acquisitions. One of the key acquisitions they made was a company called process gold. So it's funny when we've done previous, uh, RPA events, I've said RPA in its early days was kind of scripts paving the cow path, meaning you're taking existing processes of saying, okay, we're just going to automate them where UI path is headed in others is they're looking across the enterprise and how do we go end to end? How do we take a broader automation agenda and drive automation throughout the entire organization? And I think that's a lot of what we're going to hear from today. We heard that from executives, APAR, co Kaylon, and, um, and, and, and Ted Coomer talked about their engineering and their product vision. And I think you iPad has to show that that's actually what's happening with customers and they have the portfolio to deliver >>Well, those two executives that you just mentioned, and a lot of others are going to be on the program. The next couple of days jam packed. Dave, I'm looking forward to unpacking what UI path is doing. The acceleration in the automation market. We're going to have a fun >>Couple of days. Thanks for coming on here for David >>Lante. I'm Lisa Martin. We're going to be back live from Las Vegas at UI path forward for in just a minute.

>>from around the globe. It's the Cube with digital coverage of AWS Public Sector online brought to you by Amazon Web services. Oven Welcome back to the cubes. Virtual coverage of Amazon Web services. Eight. Of his public sector summit online. We couldn't be there in person, but we're doing remote interviews. I'm John Curry. Your host of the Cube got a great segment from Asia Pacific on the other side of the world from California about social impact, transforming, teaching and learning with cloud technology. Got three great guests. You go. Richard is the CEO and co founder of Guys Tech and Jean Te'o, CEO and founder of Solve Education Founders and CEOs of startups is great. This is squad was the AIPAC regional head. Education, health care, not for profit and research. Ray Ws, he head start big program Vincent. Thanks for coming on, Janine. And you go Thank you for joining. >>Thanks for having us, John. >>We're not there in person. We're doing remote interviews. I'm really glad to have this topic because now more than ever, social change is happening. Um, this next generation eyes building software and applications to solve big problems. And it's not like yesterday's problems there. Today's problems and learning and mentoring and starting companies are all happening virtually digitally and also in person. So the world's changing. So, um, I gotta ask you, Vincent, we'll start with you and Amazon. Honestly, big started builder culture. You got two great founders here. CEO is doing some great stuff. Tell us a little bit what's going on. A pack, >>A lot of >>activity. I mean, reinvent and some it's out. There are really popular. Give us an update on what's happening. >>Thank you. Thank you for the question, John. I think it's extremely exciting, especially in today's context, that we are seeing so much activities, especially in the education technology sector. One of the challenges that we saw from our education technology customers is that they are always looking for help and support in many off the innovation that they're trying to develop the second area off observation that we had waas, that they are always alone with very limited resources, and they usually do not know where to look for in terms, off support and in terms off who they can reach out to. From a community standpoint, that is actually how we started and developed this program called A W s. At START. It is a program specifically for education technology companies that are targeting delivering innovative education solutions for the education sector. And we bring specific benefits to these education technology companies when they join the program. Aws ed start. Yeah, three specific areas. First one is that we support them with technical support, which is really, really key trying to help them navigate in the various ranges off A W S services that allows them to develop innovative services. The second area is leaking them and building a community off like minded education technology founders and linking them also to investors and VCs and lastly, off course, in supporting innovation. We support them with a bit off AWS cop credits promotional credits for them so that they can go on experiment and develop innovations for their customers. >>That's great stuff. And I want to get into that program a little further because I think that's a great example of kind of benefits AWS provides actually free credits or no one is gonna turn away free credits. We'll take the free credits all the time all day long, but really it's about the innovation. Um, Jean, I want to get your thoughts. How would solve education? Born? What problems were you solving? What made you start this company and tell us your story? >>Thank you so much for the question. So, actually, my co founder was invited to speak at an African innovation forum a couple of years back on the topic that he was sharing with. How can Africa skip over the industrialization face and go direct to the knowledge economy? Onda, the discussion went towards in orderto have access to the knowledge economy, unique knowledge. And how do you get knowledge Well through education. So that's when everybody in the conference was a bit stuck right on the advice waas. In order to scale first, we need to figure out a way to not well, you know, engaging the government and schools and teachers, but not depend on them for the successful education initiated. So and that's was what pain walk away from the conference. And when we met in in Jakarta, we started talking about that also. So while I'm Singaporean, I worked in many developing countries on the problem that we're trying to solve this. It might be shocking to you, but UNESCO recently published over 600 million Children and you are not learning on. That is a big number globally right on out of all the SDG per se from U N. Education. And perhaps I'm biased because I'm a computer engineer. But I see that education is the only one that can be solved by transforming bites. But since the other stg is like, you know, poverty or hunger, right, actually require big amount of logistic coordination and so on. So we saw a very, um, interesting trend with mobile phones, particularly smartphones, becoming more and more ubiquitous. And with that, we saw a very, uh, interesting. Fortunately for us to disseminate education through about technology. So we in self education elevate people out of poverty, true, providing education and employment opportunities live urging on tech. And we our vision is to enable people to empower themselves. And what we do is that we do an open platform that provides everyone effected education. >>You could How about your company? What problem you're you saw And how did it all get started? Tell us your vision. >>Thanks, John. Well, look, it all started. We have a joke. One of the co founder, Matthew, had a has a child with severe learning disorder and dyslexia, and he made a joke one day about having another one of them that would support those those kids on Duh. I took the joke seriously, So we're starting sitting down and, you know, trying to figure out how we could make this happen. Um, so it turns out that the dyslexia is the most common learning disorder in the world, with an estimated 10 to 20% off the worldwide population with the disorder between context between 750 million, up to 1.5 billion individual. With that learning disorder on DSO, where we where we sort of try and tackle. The problem is that we've identified that there's two key things for Children with dyslexia. The first one is that knowing that it is dislikes. Yeah, many being assessed. And the second is so what? What do we do about it? And so given or expertise in data science and and I, we clearly saw, unfortunately off, sort of building something that could assess individual Children and adults with dyslexia. The big problem with the assessment is that it's very expensive. We've met parents in the U. S. Specifically who paid up to 6000 U. S. Dollars for for diagnosis within educational psychologist. On the other side, we have parents who wait 12 months before having a spot. Eso What we so clearly is that the observable symptom of dyslexia are reading and everyone has a smartphone and you're smart. Smartphone is actually really good to record your voice. Eso We started collecting order recording from Children and adults who have been diagnosed with dyslexia, and we then trying a model to recognize the likelihood of this lecture by analyzing audio recording. So in theory, it's like diagnosed dyslexic, helping other undiagnosed, dyslexic being being diagnosed. So we have now an algorithm that can take about 10 minutes, which require no priors. Training cost $20. Andi, anyone can use it. Thio assess someone's likelihood off dyslexia. >>You know, this is the kind of thing that really changes the game because you also have learning progressions that air nonlinear and different. You've got YouTube. You got videos, you have knowledge bases, you've got community. Vincent mentioned that Johnny and you mentioned, you know making the bits driver and changing technology. So Jeannine and Hugo, please take a minute to explain, Okay? You got the idea. You're kicking the tires. You're putting it together. Now you gotta actually start writing code >>for us. We know education technology is not you. Right? Um, education games about you. But before we even started, we look at what's available, and we quickly realize that the digital divide is very real. Most technology out there first are not designed for really low and devices and also not designed for people who do not have Internet at hope so way. So with just that assessment, we quickly realized we need toe do something about on board, but something that that that problem is one eyes just one part of the whole puzzle. There's two other very important things. One is advocacy. Can we prove that we can teach through mobile devices, And then the second thing is motivation it again. It's also really obvious, but and people might think that, you know, uh, marginalized communities are super motivated to learn. Well, I wouldn't say that they are not motivated, but just like all of us behavioral changes really hard right. I would love to work out every day, but, you know, I don't really get identity do that. So how do we, um, use technology to and, um, you know, to induce that behavioral change so that date, so that we can help support the motivation to learn. So those are the different things that we >>welcome? >>Yeah. And then the motivated community even more impactful because then once the flywheel gets going and it's powerful, Hugo, your reaction to you know, you got the idea you got, You got the vision you're starting to put. Take one step in front of the other. You got a W s. Take us through the progression, understand the startup. >>Yeah, sure. I mean, what Jane said is very likely Thio what we're trying to do. But for us, there's there's free key things that in order for us to be successful and help as much people as we can, that is free things. The first one is reliability. The second one is accessibility, and the other one is affordability. Eso the reliability means that we have been doing a lot of work in the scientific approach as to how we're going to make this work. And so we have. We have a couple of scientific publications on Do we have to collect data and, you know, sort of published this into I conferences and things like that. So make sure that we have scientific evidence behind us that that support us. And so what that means that we had Thio have a large amount of data >>on and >>put this to work right on the other side. The accessibility and affordability means that, Julian said. You know it needs to be on the cloud because if it's on the cloud, it's accessible for anyone with any device with an Internet connection, which is, you know, covering most of the globe, it's it's a good start on DSO the clock. The cloud obviously allow us to deliver the same experience in the same value to clients and and parent and teacher and allied health professionals around the world. Andi. That's why you know, it's it's been amazing to to be able to use the technology on the AI side as well. Obviously there is ah lot of benefit off being able to leverage the computational power off off the cloud to to make better, argue with them and better training. >>We're gonna come back to both of you on the I question. I think that's super important. Benson. I want to come back to you, though, because in Asia Pacific and that side of the world, um, you still have the old guard, the incumbents around education and learning. But there is great penetration with mobile and broadband. You have great trends as a tailwind for Amazon and these kinds of opportunity with Head Start. What trends are you seeing that are now favoring you? Because with co vid, you know the world is almost kind of like been a line in the sand is before covert and after co vid. There's more demand for learning and education and community now than ever before, not just for education, the geopolitical landscape, everything around the younger generation. There's, um, or channels more data, the more engagement. How >>are you >>looking at this? What's your vision of these trends? Can you share your thoughts on how that's impacting learning and teaching? >>So there are three things that I want to quickly touch on number one. I think government are beginning to recognize that they really need to change the way they approach solving social and economic problems. The pandemic has certainly calls into question that if you do not have a digital strategy, you can't You can find a better time, uh, to now develop and not just developed a digital strategy, but actually to put it in place. And so government are shifting very, very quickly into the cloud and adopting digital strategy and use digital strategy to address some of the key problems that they are facing. And they have to solve them in a very short period of time. Right? We will talk about speed, three agility off the cloud. That's why the cloud is so powerful for government to adult. The second thing is that we saw a lot of schools closed down across the world. UNESCO reported what 1.5 billion students out of schools. So how then do you continue teaching and learning when you don't have physical classroom open? And that's where education, technology companies and, you know, heroes like Janine's Company and others there's so many of them around our ableto come forward and offer their services and help schools go online run classrooms online continue to allow teaching and learning, you know, online and and this has really benefited the overall education system. The third thing that is happening is that I think tertiary education and maybe even catch off education model will have to change. And they recognize that, you know, again, it goes back to the digital strategy that they got to have a clear digital strategy. And the education technology companies like, what? Who we have here today, just the great partners that the education system need to look at to help them solve some of these problems and get toe addressing giving a solution very, very quickly. >>Well, I know you're being kind of polite to the old guard, but I'm not that polite. I'll just say it. There's some old technology out there and Jenny and you go, You're young enough not to know what I t means because you're born in the cloud. So that's good for you. I remember what I t is like. In fact, there's a There's a joke here in the United States that with everyone at home, the teachers have turned into the I T department, meaning they're helping the parents and the kids figure out how to go on mute and how toe configure a network adds just translation. If they're routers, don't work real problems. I mean, this was technology. Schools were operating with low tech zooms out there. You've got video conferencing, you've got all kinds of things. But now there's all that support that's involved. And so what's happening is it's highlighting the real problems of the institutional technology. So, Vincent, I'll start with you. Um, this is a big problem. So cloud solves that one. You guys have pretty much helped. I t do things that they don't want to do any more by automation. This >>is an >>opportunity not necessary. There's a problem today, but it's an opportunity tomorrow. You just quickly talk about how you see the cloud helping all this manual training and learning new tools. >>We are all now living in a cloud empowered economy. Whether we like it or not, we are touching and using services. There are powered by the cloud, and a lot of them are powered by the AWS cloud. But we don't know about it. A lot of people just don't know, right Whether you are watching Netflix, um Well, in the old days you're buying tickets and and booking hotels on Expedia or now you're actually playing games on epic entertainment, you know, playing fortnight and all those kind of games you're already using and a consumer off the cloud. And so one of the big ideas that we have is we really want to educate and create awareness off club computing for every single person. If it can be used for innovation and to bring about benefits to society, that is a common knowledge that everyone needs to happen. So the first big idea is want to make sure that everyone actually is educated on club literacy? The second thing is, for those who have not embarked on a clear cloud strategy, this is the time. Don't wait for for another pandemic toe happen because you wanna be ready. You want to be prepared for the unknown, which is what a lot of people are faced with, and you want to get ahead of the curve and so education training yourself, getting some learning done, and that's really very, very important as the next step to prepare yourself toe face the uncertainty and having programs like AWS EC start actually helps toe empower and catalyzed innovation in the education industry that our two founders have actually demonstrated. So back to you Join. >>Congratulations on the head. Start. We'll get into that real quickly. Uh, head start. But let's first get the born in the cloud generation, Janine. And you go, You guys were competing. You gotta get your APS out there. You gotta get your solutions. You're born in the cloud. You have to go compete with the existing solutions. How >>do you >>view that? What's your strategy? What's your mindset? Janine will start with you. >>So for us, way are very aware that we're solving a problem that has never been solved, right? If not, we wouldn't have so many people who are not learning. So So? So this is a very big problem. And being able to liberate on cloud technology means that we're able to just focus on what we do best. Right? How do we make sure that learning is sufficient and learning is, um, effective? And how do we keep people motivated and all those sorts of great things, um, leveraging on game mechanics, social network and incentives. And then while we do that on the outside way, can just put almost out solved everything to AWS cloud technology to help us not worry about that. And you were absolutely right. The pandemic actually woke up a lot of people and hands organizations like myself. We start to get queries from governments on brother, even big NGOs on, you know, because before cove it, we had to really do our best to convince them until our troops are dry and way, appreciate this opportunity and and also we want to help people realized that in order to buy, adopting either blended approach are a adopting technology means that you can do mass customization off learning as well. And that's what could what we could do to really push learning to the next level. So and there are a few other creative things that we've done with governments, for example, with the government off East Java on top of just using the education platform as it is andare education platform, which is education game Donald Civilization. Um, they have added in a module that teaches Cove it because, you know, there's health care system is really under a lot of strain there, right and adding this component in and the most popular um mitigate in that component is this This'll game called hopes or not? And it teaches people to identify what's fake news and what's real news. And that really went very popular and very well in that region off 25 million people. So tech became not only just boring school subjects, but it can be used to teach many different things. And following that project, we are working with the federal government off Indonesia to talk about anti something and even a very difficult topic, like sex education as well. >>Yeah, and the learning is nonlinear, horizontally scalable, its network graft so you can learn share about news. And this is contextual data is not just learning. It's everything is not like, you know, linear learning. It's a whole nother ballgame, Hugo. Um, your competitive strategy. You're out there now. You got the covert world. How are you competing? How is Amazon helping you? >>Absolutely. John, look, this is an interesting one, because the current competitors that we have, uh, educational psychologist, they're not a tech, So I wouldn't say that we're competing against a competitive per se. I would say that we're competing against the old way of doing things. The challenge for us is to, um, empower people to be comfortable. We've having a machine, you know, analyzing your kids or your recording and telling you if it's likely to be dislikes. Yeah, and in this concept, obviously, is very new. You know, we can see this in other industry with, you know, you have the app that stand Ford created to diagnose skin cancer by taking a photo of your skin. It's being done in different industry. Eso The biggest challenge for us is really about the old way of doing things. What's been really interesting for us is that, you know, education is lifelong, you know, you have a big part in school, but when you're an adult, you learn on Did you know we've been doing some very interesting work with the Justice Department where, you know, we look at inmate and you know, often when people go to jail, they have, you know, some literacy difficulty, and so we've been doing some very interesting working in this field. We're also doing some very interesting work with HR and company who want to understand their staff and put management in place so that every single person in the company are empowered to do their job and and and, you know, achieve success. So, you know, we're not competing against attack. And often when we talk to other ethnic company, we come before you know, we don't provide a learning solution. We provide a assessment solution on e assessment solution. So, really, John, what we're competing against is an old way of doing things. >>And that's exactly why clouds so successful. You change the economics, you're actually a net new benefit. And I think the cloud gives you speed and you're only challenges getting the word out because the economics air just game changing. Right, So that's how Amazon does so well, um, by the way, you could take all our recordings from the Cube, interviews all my interviews and let me know how ideo Okay, so, um, got all the got all the voice recordings from my interview. I'm sure the test will come back challenging. So take a look at that e. I wanna come back to you. But I wanna ask the two founders real quick for the folks watching. Okay on Dhere about Amazon. They know the history. They know the startups that started on Amazon that became unicorns that went public. I mean, just a long list of successes born in the cloud You get big pay when you're successful. Love that business model. But for the folks watching that were in the virtual garages, air in their houses, innovating and building out new ideas. What does Ed start mean for them? How does it work? Would you would recommend it on what are some of the learnings that you have from work with Head Start? >>But our relationship X s start is almost not like client supplier relationship. It's almost like business partners. So they not only help us with protect their providing the technology, but on top of that, they have their system architect to work with my tech team. And they have, you know, open technical hours for us to interact. And on top of that, they do many other things, like building a community where, you know, people like me and Google can meet and also other opportunities, like getting out the word out there. Right. As you know, all of their, uh, startups run on a very thin budget. So how do we not pour millions of dollars into getting out without there is another big benefit as well. So, um definitely very much recommend that start. And I think another big thing is this, right? Uh, what we know now that we have covert and we have demand coming from all over the place, including, like, even a lot of interest, Ally from the government off Gambia, you know? So how do we quickly deploy our technology right there? Or how do we deploy our technology from the the people who are demanding our solution in Nigeria? Right. With technology that is almost frameless. >>Yeah. The great enabling technology ecosystem to support you. And they got the region's too. So the region's do help. I love we call them Cube Region because we're on Amazon. We have our cloud, Hugo, um, and start your observations, experience and learnings from working with aws. >>Absolutely. Look, this is a lot to say, so I'll try and making sure for anyone, but but also for us on me personally, also as an individual and as a founder, it's really been a 365 sort of support. So like Johnny mentioned, there's the community where you can connect with existing entrepreneur you can connect with expert in different industry. You can ask technical expert and and have ah, you know office our every week. Like you said Jenny, with your tech team talking to cloud architect just to unlock any problem that you may have on day and you know, on the business side I would add something which for us has been really useful is the fact that when we when we've approached government being able to say that we have the support off AWS and that we work with them to establish data integrity, making sure everything is properly secured and all that sort of thing has been really helpful in terms off, moving forward with discussion with potential plant and and government as well. So there's also the business aspect side of things where when people see you, there's a perceived value that you know, your your entourage is smart people and and people who are capable of doing great things. So that's been also really >>helpful, you know, that's a great point. The APP SEC review process, as you do deals is a lot easier. When here on AWS. Vincent were a little bit over time with a great, great great panel here. Close us out. Share with us. What's next for you guys? You got a great startup ecosystem. You're doing some great work out there and education as well. Healthcare. Um, how's your world going on? Take a minute, Thio. Explain what's going on in your world, >>John, I'm part of the public sector Team Worldwide in AWS. We have very clear mission statements on by the first is you know, we want to bring about destructive innovation and the AWS Cloud is really the platform where so many off our techs, whether it's a text, healthtech golf text, all those who are developing solutions to help our governments and our education institutions or health care institutions to really be better at what they do, we want to bring about those disruptive innovations to the market as fast as possible. It's just an honor on a privilege for us to be working. And why is that important? It's because it's linked to our second mission, which is to really make the world a better place to really deliver. Heck, the kind of work that Hugo and Janina doing. You know, we cannot do it by ourselves. We need specialists and really people with brilliant ideas and think big vision to be able to carry out what they are doing. And so we're just honored and privileged to be part off their work And in delivering this impact to society, >>the expansion of AWS out in your area has been phenomenal growth. I've been saying to Teresa Carlson, Andy Jassy in the folks that aws for many, many years, that when you move fast with innovation, the public sector and the private partnerships come together. You're starting to see that blending. And you've got some great founders here, uh, making a social impact, transforming, teaching and learning. So congratulations, Janine and Hugo. Thank you for sharing your story on the Cube. Thanks for joining. >>Thank you. Thank >>you, John. >>I'm John Furry with the Cube. Virtual were remote. We're not in person this year because of the pandemic. You're watching a divest Public sector online summit. Thank you for watching

>>Live from Las Vegas. It's the cube covering UI path forward Americas 2019 brought to you by UI path. >>Welcome back everyone to the cube live coverage of UI path forward here in Las Vegas. I'm your host, Rebecca Knight, co-hosting alongside of it. Dave Volante, we're joined by Richard Fong. He is the it manager, finance delivery at Chevron. Thank you so much for coming on the show that you're having me. So Chevron of course is a household name, a big oil company, but tell us a little bit about what you do, what you do there. >>The it manager, and I'm responsible for software and application engineering. My team develops custom applications for Chevron and over the last couple of years we've actually started an RPA development practice. >>Okay. So what, what were the issues, the challenges that you were experiencing where you said, Hey, maybe maybe we could get a bot to help us do? >>Yeah, yeah. There are a plethora of opportunities in Chevron to automate many, many mundane tasks. What UI path and RPA brings to the table is a very easy way to automate tasks where these tasks, maybe building a traditional like.net application would be too expensive and take too long. Using the UI path platform, we're able to very quickly build solutions and deploy them much quicker than we would have done if we had to build a traditional, like a.net application. The bots aren't coding are they? Are the bots coding the you could. We found that you don't need to do a lot of coding for these, uh, for these solutions. So that was a big help in terms of being able to deploy and automate solutions very quickly. Like what's an example? What do you mean by a solution? So, believe it or not, we, we have many people who still go through and open up attack email attachments, their Excel files or PDF files or text files and that's their day job. That's what they do all day long, four weeks, usually maybe about two weeks of doing data processing. They spend the other two weeks doing error corrections. So we are able to use UI path to develop a solution. A bot that will call through your one's inbox, open up attachments, copy and paste that data automatically into like a flat file and then they would just upload that into the ERP system. So that was a big, big win for us. And that's just one example. So >>this is, was this an it limo is interested in how RPA gets into an organization? Was that it led, was it business led, is it, is it top down? It sounds like it was an it lead >>initiative in this example. It was an it. Interestingly, it came to Chevron. Chevron's a huge organization with many different it departments actually. And for Chevron it actually started with another it manager in our supply and trading department. I think that took a look at RPA and he just brought it out and socialized it with other it managers and the finance group said, Hey, this is, this has huge potential here. So then we took it and did some proof of concepts with it and just took off with it. >>So get it going back to those employees that you were describing, whose job it was to open up email attachments and then do that data looking for aberrations. What do they do now? I mean the, this has been built to us as we are freeing up your time. You can now focus on the more creative aspects of your job. How are they spending their time >>that, that actually that played out exactly like you mentioned, there was a little bit of nervousness what these employees like, Oh my God, what's going to happen to my job? I've been doing this for years. I am comfortable with it. I'm an expert at opening attachments. Yeah, exactly. Exactly. So there was definitely some nervousness, no doubt. Um, and but what eventually happened is that we were able to redeploy these folks onto other projects and have actually a cost avoidance situation because instead of hiring new folks having to hire new folks are high, bringing in contractors, we are able to redeploy them on to higher value projects. >>Yeah. I mean, I think we hear that a lot from customers, from the vendors you hear, Oh no, everybody loves it. Which is true. Once you experienced it, you love it, but you've got to be cognizant, I would think. And I wonder if you could sort of share your experiences as to how you dealt with that, that uncomfortableness. You got to be cognizant that it's going to affect people's jobs. So what did you guys do to get people more comfortable to educate them that you're not just trying to replace them with software robots. >>Yeah, yeah. No, that's, um, you do need to be sensitive to how people will react to, you know, potentially losing their job. And actually it's not, this story's not, you're losing your job. This is an opportunity to upskill and to, you know, to grow your career. Right. Not we, you know, just doing data entry is kind of like, yeah, it's a little bit career limiting. So, you know, you kind of approach it in that context. And the other thing is Chevron's a great company to work for. W we're not, we're not purposely trying to eliminate positions. We're still growing. You know, oil is still in big demand, so it's about upskilling and reallocating people to higher value work. >>I mean, everybody's hiring, I mean this is basically 0% unemployment. So absolutely. If you're like 98 90 97% of the people you'll, you'll have a job. So right now, be interesting to see if that changes, but even in bad times, you know 90% of the people are employed. So my question is how far do you see this going? Rebecca and I were talking at the top of the our segment. In many ways you're, you're basically, you're, you're automating mundane tasks that already exists. So they're known processes. Okay. It's important you're saving money, you're freeing up undifferentiated heavy lifting. You use Gavin's term, but how far do you see this going? Do you see an opportunity to really create an automation fabric across the company? Have you guys started to think about that? Absolutely. I think >>I see it going pretty far actually. We've kind of just scratched the surface. One of the reasons why I'm here at this conference is that look at what are the new products coming out, new products and features. We're at a juncture where we need to understand now how to scale all of these solutions across the enterprise and how do we ensure also not only that things are automated, but that we are following all our governance risk and compliance procedures so that, you know, when the comptroller, our internal controls group says, you know, you're doing these, automating these financial transactions, what are you doing to make sure you're protecting the integrity of the systems as well? So I'm excited to see that the UiPath has invested quite a bit in things like information protection, security, management of bots and things like that. So that's going to help us. Um, the other thing that we, the other area that we have not fully deployed is around artificial intelligence and machine learning. So those solutions will actually help us and will give us the capability to really further automate and leverage things and ease more easier than what we do today. Most of the solutions that we've deployed are more algorithmic based, rules-based. Um, whereas some of the things that we saw about extracting semi-structured data, tempted template lists, you know, data processing, that's gonna be the next big area that we need to look into. >>So scale makes sense. Cause if you can take something that one person is saving some money on and you can scale it across the organization, I don't know how many employees Chevron has. It's a lot. Absolutely. >>Oh yeah, yeah. Miss benefit to 160 countries. You know, there's folks still the, the automation that we ran for the finance department has been mostly for the central finance groups, corporate finance, but there's financial groups all over the world with Chevron that are looking that also doing similar data processing. We haven't even gone out there yet as much as we want to. Um, but I think what we want to do is go out there this time with artificial intelligence and machine learning features of the, of the platform. So I want to double click on this. So this insecurity piece makes sense. If you're gonna scale it across, you know, 160 countries, et cetera, you got to make sure it's secure and complies. The iPad talks about a path to AI. Why is RPA a path to AI? Can you help us understand that better? Well, I think it's my connection to that. >>I was, I actually was, I was hearing, I'm hearing this talk this morning about that it good marketing and it's, you know, catches your ear. But yeah, and so I had about 20 minutes to think about it since then. I think the easy connection is that it seems, while the way they've deployed AI and ML, it's using the current UI paths UI studio, and it's a drag and drop operation for what they've, the way they're deploying AI and ML. So if you're currently using UI path studio to develop your algorithmic based automations, it's not a great leap to just bring in the AI and ML modules of UI path. >>I want to ask about that. This, this two ideas of introducing AI and ML also declining deploying bots really across the enterprise. We're really talking about change management here. And we scratched the surface a little bit saying that some employees have been happier and saying, okay, I can move over here and I can focus on these higher value areas of my career, grow my career. But there's also a great skepticism within the public about bots. I mean, we've had, we've seen the malevolent bots that really had a real effect on our election and we're seeing that in other areas of technology. How do you bring people along and say that this is a force for good and they'll trust us? Link arms with us. Bots are the future. And there, I mean, do say it, >>it's a valid point that, um, you do need to address the things where, you know, bots could go wrong, things could go rogue. You know, how did we make sure we still have control that incorrect decisions are not being automatically made. So that is a valid, that is a very valid point. And I, so I kind of go back to the whole thing about we have to have good governance risk and compliance processes supported by, uh, the flatform UI path. Um, I'm glad to hear that they made it a priority to continue invest in the platform and include governance, risk and compliance into it. Um, the other aspect from a developer, individual developer perspective is that we need to encourage the developers to put in very good checks and balances in their code to the, to develop for, you know, worst case scenarios about something happens, something goes bump in the middle of the night that your bod is able to recover or alert, you know, and, um, so, and for everything to be very transparent and audible. >>So, um, those things, I think if you do a combination of those things, I think you'll put people at ease about these solutions. How important is the SAS announcement today? Uh, in terms of a deployment model? Is that something that you know, struck a chord with you, that resident? Yeah, so, um, actually before the conference I actually, uh, registered myself for the SAS. An instance of the SAS platform and just like what, uh, they said that it takes a minute. Actually took me a minute. I wanted to say, yeah. Hey, it was just a minute. And I had, I was, you know, it was very seamless to, to develop the RPA using their SAS solution. Great. New features. So I think that has also the potential for organizations like ours that have it on prem to maybe move to a hybrid solution to so we could leverage all the new features and in the 2019 version in hybrid, because you want to maintain some kind of level of GRC compliance, that's, yeah. >>Chevron and not just sort of cookie cutter cloud and, and you know, say, and also to just to, uh, uh, we've invested a lot in the on pram and we're gonna, you know, uh, look for the, you know, get our ROI out of everything that we've done on prem, but I think maybe eventually everything's moving to the cloud. Um, so we'll probably start a journey at some point to, to their cloud version. But I think there's also, um, some, some other companies that I talked about, they do need to know how secure is the cloud version of the, of the UI path. Did you evaluate other companies besides UI path before you took on? Ah, yeah. Why are you I-PASS? I'd love to hear home. So definitely we evaluated other vendors. Um, I think the, the advantage with UI path is it's easy to use. >>Um, you know, it was a fairly, it's a fairly robust tool. Um, the, the, uh, so the concept of the studio and the orchestrator to manage your portfolio of solutions, uh, we felt that it wasn't a, it, it was a stronger product overall. When you go, you know, we've heard a lot about citizen developers and low code or no code as RPA permeates through the organization. Do you see that continuing to be an it service led? I mean, kind of an interesting role for you guys? I mean, I was saying to Rebecca before, it kind of reminds me of service now. I don't know if your service now customers that we are started on it and then you know, I don't know if you have gone into the lines of business, but it was kind of it bringing it two lines of business. Is there a similarity there and do you see RPA as pretty much? >>Very much. And I'd been in it for a really long time. So I went through the days of citizen developers doing access databases or Excel macros and then they throw it over to the fence to it to support. And these things are like, they're not compliant, you know, they're there. So we've had, I was like, we were really worried about what are we going to do with all these RPAs that these folks are going to do, you know, develop on their own. Um, I think the reality is is that we need, we are trying to push innovation out to everyone. So the reality is, is that there will, there will be citizen developers and we actually just need to embrace that and let them develop. And, but the challenges as far as an ID it department is how can we set up the processes, the infrastructure, everything else to receive all these new solutions and manage it and be, be stewards of all these new solutions. >>So I think that's going to be the challenge for our it department. And I think that's going to be something that we need UI path to help us figure out is how do we scale to have thousands of these solutions without having to hire whole army of it, support folks to leverage the tools. Maybe we need RPA for it just as much as we're doing it, RPA for the business, getting the whole house in order. Absolutely. That's going to be, that's, I think that's the key to survival. Thank you so much for coming on the cures. Great. Thank you for having me. I'm Rebecca stay tuned for more into cubes live coverage and the U AIPAC.