Rapid Acceleration Partners (RAP), founded in 2017, provides practical IPA solutions for digital business transformation. Aiming to democratize AI, the company has developed platforms which includes:
RAPFlow – An AI orchestration platform for building content intelligence solutions rapidly
RAPBot – An RPA tool for end-to-end intelligent automation
With these products, RAP offers Intelligent Process Automation (IPA) solutions that can be deployed in a few weeks.
RAP was founded with a vision to use AI for practical business problems to drive greater efficiency and ROI. The company started off automating form recognition, email responses, and document recognition evolving to focus on Computer Vision and NLP. About a year into the journey, the company realized that it needed RPA capabilities to drive upstream/downstream automation leveraging the power of AI for scalability. This need gave the birth of RAPFlow and RAPBot.
RAP was co-founded by Raghuraman Ramamurthy, Baskar Agneeswaran and Ramesh Kumar. All the three founders are non-technocrats with a strong business understanding. With a combined industry experience of over 60 years, they have a deep understanding of business problems and have developed technology to solve those problems.
As CEO of RAP, Raghuraman primarily drives operations and spends significant time on customer/solution interactions to constantly drive product innovation. He has a broad cross-industry experience in global markets and drives the product vision, solution and market outreach and partnerships to offer significant differentiation and value to customers. Raghuraman also has a deep understanding of the latest AI advancements. He mentors the AI research team to adopt cutting-edge developments and improve offerings.
RAP's proprietary platforms RAPFlow and RAPBot can be used in tandem to offer Intelligent Automation. RAPFlow's innovations allow automated data extraction from unstructured content such as documents, forms, digital data, etc., solving a major automation hurdle. The company has also built models which are pre-trained for a range of applications that can be easily adopted and quickly deployed with minimal data.
With RAPBot, RAP has developed an extremely lightweight, platform-agnostic RPA that brings down Total Cost of Automation (TCA) by more than 50%. As native platforms, they can be easily combined to surmount some very complex automation problems.
RAP's innovations in RAPFlow and RAPBot combine the power of Computer Vision, NLP, proprietary Deep Learning models and rule-based engines to mimic humans, giving the solutions cognitive capabilities. This empowers organizations of any size to innovate new business models and leapfrog exponentially in their digital transformation journey.
RAP is on the mission to democratize AI by reducing the high costs of developing solutions. The company offers almost the same power as an enterprise RPA tool at a significantly lesser CAPEX, along with the flexibility to build and deliver tailor-made business solutions by combining its products' capabilities and business process acumen.
Raghuraman stresses that it is critical for enterprises to take the next step and brainstorm how to leverage disruptive technologies while considering a variety of factors. RAP has worked with clients at a strategic level to embrace AI-powered automation and saw this concept do wonders for its customers, enabling it to re-imagine its processes and customers' needs.
Further, he says that today's buzzword is Hyperautomation and Gartner predicts that 40% of IO teams will use AI-augmented automation by 2023. As the industrial revolution has started taking shape, this will be the most disruptive technological change impacting every single industry with far-reaching consequences – reducing operational costs by 30-50% and enabling over 50% capacity increase. For instance, one of RAP's customers needed to process a backlog of 5 million documents in a few weeks. The company was able to successfully clear the backlog in just a few days. This type of scalability would be virtually impossible with any other technology.
"RAP has successfully replicated similar successes across a wide range of industries ranging from BFSI, Automotive, Manufacturing, Hospitality, Shared Services, Healthcare and others," Raghuraman said.
RAP's platforms are built to solve common AI adoption problems, such as lack of quality AI talent, low/no data availability, and the fact that most AI projects run like research projects with no predictable outcomes. While most players provide discrete offerings, the company is at the helm of blending Product Engineering and Business Solutions that enable hyperautomation. This unique blend positions RAP as a true partner for its clients on their entire AI/Digital Transformation Journey, right from road mapping till implementation. This empowers them to solve some of their pressing problems around efficiency and scale, resulting in improved top/bottom line.
RAP has consistently landed customers that were unsuccessful in their earlier automation efforts. Notably, the company has been chosen by the customers over the industry Big 3. RAP's clients work with the company not just for its technical proficiency, but for the "fulfillment" of their business problems. As there is a wide gap between available technology and its consumption, RAP has been able to bridge it.
With heavy consolidation and companies like Microsoft and IBM acquiring RPA products, RAP is going to witness some interesting shifts in RPA and AI being combined into one offering. There are very few players in the market that have both native AI and RPA components rolled into one package and RAP is one of them. With a lot of noise around enterprise automation, the company sees that a lot of these offerings will start converging in that direction.
Although leaders in the automation space occupy large mindshare, RAP sees a gap between the hype and actual adoption and usage. According to Raghuraman, while RPA and hyperautomation have become industry buzzwords, various industry studies show that 85-90% of customers who are licensed to such solutions have implemented less than five robots. This shows a huge disconnection between the vision and the actual implementation of IPA. It depicts the big gap in the industry that is typically due to the high cost of entry, lack of coherent implementation ecosystem, inappropriate use of technology, and more. RAP's mission is to tackle exactly these problems and offer a differentiated product that will allow organizations to truly hyperautomate their processes and transform their business.
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