UiPath (stock symbol PATH), the largest IT startup with origins in Romania, has entered into a partnership with the data cloud group Snowflake (SNOW), which integrates UiPath Insights into the Snowflake platform and will facilitate the transition to the cloud of companies, writes Business Wire.
The price of a UiPath share appreciated by 4% to almost 50 dollars, after the company had reached a historical low on the stock exchange the other day. The capitalization reaches $ 25.7 billion. UiPath Insights is an RPA (robotic process automation) analysis solution that measures enterprise automation activities, aligning them with business line strategies.
Thus, the combination of UiPath and Snowflake’s data scaling and computerization capabilities will provide customers with a faster level of data processing and the ability to perform long-term analysis and scale automation processes. While enterprise automation is a strategic priority, the move raises expectations about quantitative measurement activities and the impact that UiPath has on businesses.
UiPath allows business leaders to define, monitor and interpret key performance indicators (KPIs), which measure the value and overall impact of the automation strategy.
“Partnering with UiPath can make RPA analysis more accessible to members within a company and will drive results. As demand for Snowflake analysis and RPA increases, partnerships with organizations such as UiPath support our customers and facilitate our global data mobilization mission, ”said Colleen Kapase, senior vice president of Snowflake’s international partnerships division.
End-to-end automation can only be accomplished with a robust analysis platform that would handle today’s complex data explosion, explains Druv Asher, senior vice president of UiPath’s business development division. The Berkshire Hathaway giant, led by Warren Buffett, made a $ 1 billion profit last year from investing in Snowflake.
SNOW shares appreciated more than 36% after the initial public offering in September 2020. The market value of the company is almost 100 billion dollars.