Kingdee’s Strategic Investment in i-Search, Leading RPA Firm
- Jointly Build Kingdee Cloud Cosmic PaaS Ecosystem
Kingdee International Software Group Company Limited announced the strategic investment in the leader of domestic RPA – Shanghai i-Search Software Co., Ltd. in the Kingdee Cloud Cosmic Summit. The business cooperation agreement of RPA and other relevant products was signed on-site. Mr. Zhao Yanxi, executive vice president of Kingdee Software (China) Co., Ltd. (“Kingdee China”), and Mr. Tang Qisong, CEO of i-Search, attended the signing ceremony and the two sides will jointly build an enterprise process automated service platform with advanced integration of RPA technology in the future.
With the acceleration of global transformation of enterprise digitalization, an increasing number of enterprises have changed their attitude towards RPA from an option to a necessity. Based on the statistics, the RPA market size in China reached RMB1.02 billion in 2019, representing an increase of 96.6% as compared to the previous year. Gartner, an international analytic firm, is of the view that RPA is the fastest growing segment of the enterprise software market in recent years, and by 2022, 80% of RPA-based enterprises will introduce AI technology to automate business procedures for unstructured data. Enterprises will take advantage of RPA products to address business challenges and help them automate business and IT processes. A company’s pursuit of automation of procedures is not simply empowering the procedures with AI. When selecting an RPA service, it is essential for enterprises to choose a platform that possesses a deeper understanding of their enterprise scenarios or business procedures.
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As a leader in enterprise cloud service, Kingdee’s strategic investment aims to form alliance with i-Search to further enhance Kingdee Cloud Cosmic PaaS platform ecosystem and technical capabilities, building an integrated data intelligence platform which combines the data platform, AI platform and RPA platform. By scenario integration of RPA with various Kingdee’s cloud products, to provide RPA digital staff solutions for enterprises to replace high-frequency, repetitive, time-consuming and error-prone manual operations so as to meet the demands for mass robot applications with multi-scenarios including finance, human resources, supply chain and marketing. At present, Kingdee Cloud Cosmic Platform has built three core-technology product systems which focus on integrated low-code family, enterprise cloud-native and data intelligence applications.
Zhang Yong, the rotating president of Kingdee China stated, “As an important product form of AI ‘s corporate services, RPA is now reshaping its business procedures through the automation of its business and IT processes, which will greatly accelerate the pace of enterprise innovation. Kingdee and i-Search will play their respective roles to strengthen the Kingdee Cloud Cosmic Platform capability with RPA technology, jointly innovate products, build intelligent and highly-effective robot application products to help enterprises build business capabilities.”
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Tang Qisong, the founder and CEO of i-Search stated, “Through the financing, i-Search will continuously enhance the R&D (“Research and development”) investment in RPA and procedure automation of product development, ecosystem development and accelerating the best implementation of RPA in cloud and localization in various industries. The advantages of Kingdee in management, brand, product, technology, talent, customer and channels will also benefit the rapid development of i-Search in the RPA market, provide high-value RPA services to more corporate customers, and strengthen the leading edges of i-Search in the RPA market.”