Gartner just released its 2020 Magic Quadrant for Enterprise iPaaS, and for the 3rd year in a row, it lists us as a leader!
A lot has changed since our debut in the Magic Quadrant in 2018. In 2019, we both raised $90M to power our growth and tripled our revenue. We’ve founded and now host the largest conference for business systems professionals, Biz Systems Magic, every year. And recently, we attracted over 800 consultants to the annual Workato Partner-Summit.
While we’re proud of the progress we’ve made to date, this is just the beginning. During the COVID-influenced 2020, despite all odds, we’ve reached one record quarter after the next. And we see an even more exciting growth path still ahead of us. We’ll share what that looks like, but first, let’s walk through our unique history and position in the Magic Quadrant.
Want to see the latest Magic Quadrant for Enterprise iPaaS? You can download it from here!
Workato in the Magic Quadrant
From the very beginning, we’ve placed strongly in the Magic Quadrant for both completeness of vision and go-to market execution. In fact, when we first appeared in it 3 years ago, we broke new ground as the only platform company that has debuted as a leader for any Magic Quadrant.
Since then, our ranking among Leaders continued to strengthen while the Enterprise iPaaS category evolved to include an increasing spectrum of integration needs. We wouldn’t be a Gartner Leader if we didn’t support a broad spectrum of integration patterns, including Cloud and On-Prem iPaaS, Data Pipelines (ETL & ELT), Microservices & API Management, and Process Automation. Yet, after 3 years, we are still the only Leader that offers a cloud-native, server-less, low-code iPaaS platform that can be used across lines of business. And we are still the only Leader that offers a Workflow Bot platform.
To sum it up: We have been and continue to be the only Gartner Leader that is truly modern.
Our growing recognition and acclaim certainly isn’t limited to Gartner. Other analysts, like Forrester and Constellation, name us as leaders in their own iPaaS and Integration-focused reports; while our end-users have taken to platforms like G2 and Gartner Peer Reviews to shine a light on their positive experiences with us.
What used to be mostly early-adopting, digitally-native customers in 2018 now include many digitally-ambitious Enterprises that are replacing their legacy integration platforms with Workato to support their Enterprise-wide digital transformations. COVID has only accelerated this trend.
That said, our ambitions don’t end here. We’ve founded Workato not to build one more integration platform, but because we saw a fundamental need to enable automations in the new digital world. 15 to 20 year old iPaaS tools designed for IT specialists and converted to the cloud from open source and on-prem architectures didn’t seem like the right approach. Workato also caters to business analysts and operations experts who know the business processes best. This helps to break down the business/IT divide. Workato’s aim is to redefine integration to enterprise automation, which leverages business events to drive real-time business outcomes across the enterprise. We call this Event-driven Automation. iPaaS integration capabilities are the connectivity foundation of event-driven automation. That’s why being a Gartner Enterprise iPaaS Leader does matter tremendously. However, there’s even more to Workato.
Workato is the Only Platform You Need to Perform “Hyperautomation”
What Workato set out to accomplish has been termed “Hyperautomation” by Gartner.
As Gartner defines it, “Hyperautomation deals with the application of advanced technologies, including artificial intelligence (AI) and machine learning (ML), to increasingly automate processes and augment humans.”
This approach is widely seen as the future of automation for the enterprise, with Gartner going so far as listing it at the top of its list of strategic technology trends in 2020.
The widely-held view is that hyperautomation requires an RPA, an iPaaS, and an iBPMS – three separate tools for different parts of enterprise automation projects. While this may sound OK in theory, deploying each of these platforms for integrating apps and processes is confusing, technically complex, and fragments the data & processes further. It also forces organizations to make false choices, whether it’s between enterprise-grade versus citizen-grade or bots versus RPA.
Here at Workato, we’re reimagining how enterprise organizations can achieve hyperautomation by using just one platform that is usable by IT and business experts instead of three platforms (RPA, iPaaS, BPM) that can only be used by technical experts. Workato shines with its API-led Integration capabilities as modern event-driven automations don’t exist in a vacuum. They need to be connected with business events (we call them triggers) and workflow actions from multiple applications and data services. But event-driven automations aren’t limited to system orchestrations. That’s why Workato facilitates stateful workflows with human interaction steps which can be implemented as modern Workflow Bots. And Workato seamlessly integrates RPA steps (when no APIs are available) and AI-powered decision steps.
This inherently prevents organizations from dealing with making the false choices mentioned previously. Now, for example, they can perform hyperautomation with an enterprise-grade AND an easy-to-use platform, and they can use RPA steps AND human workflow.
Though hyperautomation or event-driven automation may not be recognized as a category of its own, like Enterprise iPaaS, we think it’s the direction enterprise automation is headed. We also believe that the Workato integration and automation platform is uniquely positioned to transform how enterprise businesses perform hyperautomation now and for years to come.