Leadership Insights podcast | episode 9
Nintex + Kryon: a match made in automation
Leadership Insights podcast
Kryon CEO Harel Tayeb joins Nintex CEO Eric Johnson for the ninth episode of the Leadership Insights podcast. The two discuss the future of process discovery and RPA and when both will be available on the Nintex platform.
General Manager, Nintex Kryon
00:04 | Hello, everyone. Welcome to this edition of The Nintex leadership podcast on this edition. I’m very, very excited. We have an awesome, awesome special guest this morning, we’re going to have the CEO of Kryon Harel Tayeb join me recently about oh, maybe three, four months ago, five months ago, we acquired Kryon and Kryon is now part of Nintex and Harel has joined us and is serving as the General Manager and has a really, really great story to tell this morning of what’s possible together with Nintex and Kryon. So welcome, Harel.
01:35 | Thank you, Eric, pleasure to be here, pleasure to be part of Nintex as the shift, specifically hearing this podcast. So thank you so much. And looking forward to all the podcast discussion.
01:47 | Well, why don’t we just jump right in, I’m sure our listeners have a lot they’d love to learn. So first up here, you know, there’s always a lot of factors that go into any acquisition. So what made you choose to partner with Nintex?
01:59 | That’s a very good question. And, you know, I can share that we had many discussions with the top leaders in the market, not the RPA or the entire market during the M&A period for Kryon. And I think that whenever I thought about, you know, the crucial part or pillars that I consider, in order to choose the right acquirer, I think about the shareholders, the company and the employees. And I think that Nintex led through each one of these parts. And I want to focus on the company and the employees and specifically on the employee side. But everything started with the vision and strategy. And I think the first time that we’ve discussed that we had that discussion and you shared your vision. And you know, Kryon vision, we’ve discussed about understanding enterprises, businesses, the workflows, being able to not just orchestrate them or understand them, but also operate and execute. I think that was the first time that I saw that we have something crucial in common. The fact that now Kryon products, the RPA products, the attended automation, the unattended automation and process discovery is an integral part of Nintex’s future. That was my wishful thinking. When I started the M&A discussion, as from the employee point of view, you know, we found an amazing place for each one of our employees, we found a place, you know, Nintex is a strong company, a profitable company, a market leader, that eventually we can leverage the huge market, the user base 10,000 customers, 800 partners, and being able to create a new future for our customers. So on the employee side, on the company and the shareholders, I think that Nintex gave us huge opportunity. And last but not least, when we spoke about the core tenets. The culture of the company, you know, respect, being transparent, deliver. These core tenets, we focused on these values for the last four or five years within Kryon. And when we heard that Nintex these are the core tenets of Nintex. That was a perfect match for us.
04:32 | You know, Harel, I have to say it has absolutely felt like a perfect match. You know, whether it’s on the core tenets, the cultural alignment, the opportunities we have in the market with our mutual customers. It has been super exciting. And I know recently you and I even got to spend some time in the field and you know, this vision that we have together and what we’re bringing to the market. I mean, I feel like we’ve already been together for a year or two and it’s really only been a few months. So, you know, just can’t say enough how much you’re just totally aligned on that. Next question here where I wanted to go. So you know one thing, there’s just been so much excitement. So we’re obviously getting a lot of questions. This one’s a big one when we’ve been out in the field or we’ve been on, you know, calls with customers, when can customers expect a fully integrated Nintex Kryon RPA offering within the Nintex platform?
05:19 | So that’s, you know, great news, we just released last week and Nintex branded RPA version so customers can enjoy the Nintex RPA first version, starting today. And that’s great achievement by the engineering team.
05:36 | Process of discovery, Nintex branded process discovery is going to be released towards August. And I think that’s just the beginning because it’s only the start of the branded version that we are going to release in the future: integrating Kryon Process Discovery and Nintex Promapp. And actually even today, we can communicate between Kryon RPA and Nintex Workflow Cloud. So in a way, we have the RPA, the branded RPA released to the market. That’s great news for us. We have an integration with Nintex Workflow Cloud. Another achievement. And the process discovery branded version will be released by August. That’s the high level and I think that future that that’s you know, there are so many great things that can be done, Promapp and other integrations that we can add. Great news, very exciting.
06:32 | Oh, man, that’s just amazing Harel. I cannot believe how fast our teams have been able to work together. Already producing elements of our integration right off the bat within the first few months. I’ve seen these roadmaps like you and it looks like over the next few months, we’re going to continue to have more and more depth to the integration, more and more cross product capability and value being added. So, you know, really exciting for the customers. You know, next question we always get when you and I are out and about or our teams are, what’s the, you know, upcoming innovations, what can we expect from Kryon RPA. In terms of new innovation on the way.
07:08 | You know, one of our core assets I think within Kryon is the innovation, we invented the process of discovery, technology and solution in the market. And I think on the RPA side, as you’ve heard from our customers, we just met with a CEO of one of the largest bank in the market. And CIOs from leading telecom companies in North America, the RPA market is changing these days, the current offering that almost any RPA vendor provide to the market are not good enough not perfect. And the expectation, the C-level expectation for an RPA solution is to be simple, very, you know, the ease of use should be superb, and the impact on the business should be something meaningful, much more meaningful than what today the RPA platform offers. So I think on the innovation side, that Nintex Kryon RPA is going to provide to the market, we are going to release our Studio Plus. The Studio Plus is an innovative way of thinking on the RPA editor side. So today the way that any enterprise in the market or consultant using RPA editors is very not old-fashioned, but you know by-the-book solution, you know, step-by-step drag-and-drop. What we are doing with our Studio Plus, we are challenging this mindset and we are providing a new solution to the market. Super easy, super simple that any business user in the market will be able to automate a workflow either if it’s for the unattended automation and we are starting from the unattended path. And next in the attended automation. So just think about that. Today we have I think the leader or the largest telecoms in Europe, one of our customers using our platform, the attended automation. And they’re using the attended automation with more than 10,000 employees. Their employees, the call center employees are developing the workflows, the automation workflows by themselves. And that’s an amazing achievement, we are going to take that to the next level. So a new editor in the RPA more integration with process discovery, other native solutions, I think that’s the part that, you know, the innovation that we have within the team will be able to show a lot of value and impact on on the customers.
9:42 | Well, it’s a super exciting I mean, you think about the innovations that are coming up with Nintex Kryon RPA. I mean, I’ve seen some previews of the Studio Plus and I mean, it is I just didn’t even think technology if that was possible. So really exciting what the engineering teams are working on and super looking forward to these coming into the market soon. And so, you know, looking ahead here, what are the key differences? You know, there’s a lot of confusion in the market, sometimes words get used a little interchangeably, people can get a little bit bit out of sorts. And so you know, it’s your expertise and deep knowledge and really being a pioneer in many aspects of this overall market. One of the areas I was hoping you could comment on for our listeners, what’s the key differences between process discovery and process mining?
10:23 | That’s a super, super important question. And, you know, we hear this question for many customers partner or prospect. We can separate that into the business value and the technology behind the solution. And I will start with the technology because it’s super simple and easy. Process mining is based on IT log. So any process mining tool will integrate into any type of application that you have–might be Salesforce or any other platform, gather the data. And then based on the data, we provide you with some better understanding of the workflow, mainly in order to achieve sometimes hidden cost extraction. So you can identify whenever you have something broken within the workflow done within your SAP done within your Salesforce done within any other type of application that the mining tool is connected to. Process discovery will work completely the other way around. Instead of just integrating into the IT log, we can see, we can understand human behavior or human activities. So we can understand the employee action, user actions. And then based on these activities, we gather all of this data, and we can identify the workflows that are actually in place within your organization. So we can understand what happens within the application, not just that, we can understand that if you have a specific code, so can be accounts receivable, account payable, can be any type of workflow, we can understand the human activity, the actual steps that any user that any employee did within, you know, during this whole flow, from one aspect, we can automate that we can optimize the workflow, we can understand that now, you know, you can skip on some steps, we can decide whether to automate that or not.
12:26 | You know, just to give you an example, we have a large energy customer in Europe, that is using about three other discovery bots within his organization just for documentation, just for documentation. This piece of process discovery, it’s a mitigation for 1600 consultants that were supposed to document the employee workflows. This is just the tip of an iceberg. Because understanding the waters, understanding the business, understanding the activities within the organization, that’s the Holy Grail, for almost any, it’s not just RPA companies. But that’s the holy grail for any enterprise that would like to become more efficient, that would like to become more aware of the activities within the organization. And, you know, the actions, the next steps that might happen–post process discovery, it’s almost anything. Starting from documentation going into the optimization side. And then automation, of course, and more and more and more tools or capabilities that can be done based on this information. And, you know, whenever I think about Promapp integration, or process discovery integration into Promapp, that’s huge value for customers. And that’s only one aspect of our process discovery.
13:52 | Oh, man, that’s a lot going on there. And I think you’re so spot on, you know, a lot of people starting to think about how to find processes, you know, we went down this path of the log base mining, but that really only gets that these big core system — the data flows inside of the system. But so much work is happening outside of those systems. And, you know, unfortunately, as you said, organizations were having to spend, you know, oftentimes hundreds of 1000s, even millions or 10s of millions of dollars with consultants to do interviews, and then even when they did the interviews of the people, or they sat down and tried to watch them work, they would miss things. And with our process discovery capability. Now we’re able to actually give the customer a full view of those workflows, those processes, really find what’s happening with the work. So you know, really, really critical and that brings me to my next question. And so when you think about the Nintex Kryon Process Discovery capability, and what we just talked about the concepts and what’s possible, but specifically our capability, what really sets it apart from the competitors, what do you think the big differences are?
14:50 | So on the process discovery side is very simple and you know, the basic is the results. You know, whenever we faced analysis against other players in this market or the other competitors. At the end, there are not too many companies that can achieve sharp results on the workflows that they monitor. That’s the baseline. You know, first, whenever we have a customer that wants to understand the workflows within the organization that you need to have accurate results in order to help this or this organization to be successful during the optimization process, automation process or any other type of implementation. So is that is top priority, being able to use the algorithm that technology in order to identify, in order to gather information for many users, and then provide a current workflow or epi path for the organization to better understand the activities. The second, I’m not familiar with even any other competitor in the market that has the scale of Nintex Kryon today with customers and within customers.
16:05 | We spoke about the energy company that has about 300, discovery bots, running you know, of course, at the same time and being able to document so many workflows within the organization. But the ability of Nintex Process Discovery, the algorithm to run in real time. It’s just the beginning. You said to me sometime in New York, after we met with CEO of one of the largest banks in North America. And he said that they tried every other competitor in the market. And we’ve been able to provide the best value, but more important, we will be able to support them to scale up for 1000s of deployments for employees that will use the discovery bot and scale is crucial for success in this market. So it’s not enough to be able and understand workflows based on some of our competitors using only cloud or sometimes you know, using even, you know, client information, but the ability to scale up within the organization — crucial path for success. So, first being able to provide the results, accurate results. And second be able to scale up within our customers in order to provide more value.
17:29 | You know, and overall, those are just two really, really critical things when it comes to doing process discovery. I mean, you know, the level of differentiation we have in terms of the results driven by our AI algorithms, you know, some really, really advanced things. They’re super innovative, patent pending, really exciting. And then when you think about what we’re doing in terms of scale, I mean, I’ve seen some of these now myself, and you’re talking about, you know, massive amounts of data being generated by these employees. You know, that’s not something that typical companies in this space can do. So you know, really have a nice head start from the market. And at the end of the day, it’s really about providing value for our customers. So you know, and that leads me to kind of a second question. So let’s say customers had all this success with process discovery. They know so much more about their business, they’re finding all these processes, they’re seeing all these opportunities for automation. So now they want to deploy some of the Nintex Kryon RPA. What would you say really, sets are good capabilities apart from the competition?
18:28 | I would start with the ease of use. And I think it’s crucial, you know, RPA has been successful, so successful over the last few years, mainly because it changed the padding around automation. It moves from the IT organization into the business group, and business divisions. So there is a fuse, the ability to let business user work on an RPA environment, and deliver or provide the baseline for automation that’s crucial for success of any RPA deployment. So, super important, I think that can lead—definitely lead in this market. You know, we can execute an automate any type of workflow, and it can be done very easily in a very simple way. And that’s something very important. The second part is that understanding that automation or the pure automation, the pure execution of unattended automation, or even attended automation is not enough. You need to have a complete and holistic solution. The combination of discovery process discovery and automation that’s a crucial part for success for any organization because most of the organizations that we are working with, leading banks, leading insurance companies, telecoms or any other type of industry, eventually they need to scale up with the automation effort. So the connection between a strong RPA solution and strong automation solution into a discovery, or vice versa. That’s a crucial part, we call that the full cycle automation, the ability to take your organization from A to Z from identification, mapping then into the execution side of automation, that huge value. I think the numbers pick the latest report from Forrester, a report says that we we’ve been able to achieve full cycle automation. We’ve done that about, you know, two years ago, about a year ago, we’ve been able to provide more than 350% ROI on a full cycle automation implementation, and that’s insane, that’s fantastic value for customers. So on the RPA piece, the ability to in a very simple, and you know, the ease of use of the product, that’s very important part, so a scalable solution, and the second combination, or the holistic solution of Nintex RPA, Nintex Kryon Process Discovery, that’s huge value for customers.
21:05 | We are at this great point there. I mean, at the end of the day, you know, these customers, all they really care about is right, their business outcome. And that much higher usability means I can get a lot more automation done a lot faster. And the odds of getting that outcome are dramatically higher, with an Nintex Kryon RPA solution. And then when you look at the full cycle, ability to discover, bring it straight in, you know, have it all ready to go and be able to just automate right off the bat. I mean, that’s, that’s huge value. So yeah, obviously, we’ve covered a lot of really exciting things. And you know, great progress already, just in the first few months, we’ve been working together. But you know, looking ahead here, what are you most excited about for the next six months.
21:42 | So there are so many things. First, I believe that the connection or the combination of Nintex Kryon solutions into the existing Nintex solution in the market, that’s a huge value for everyone from customer that we spoke with partners. And I think even from the impact within the organization. So adding more and more connection connectors into, you know, between our tools, that huge value, and you know, super exciting to me, that’s one aspect.
22:14 | The second one is the ability to impact Nintex goals for the next few years, the ability to leverage Nintex Kryon RPA and discovery into the large user base, customer base, and partners that we have available working with Nintex these days. That’s huge value, the ability to expand within these customers with Kryon RPA and process discovery, I see that as, you know, insane opportunity for everyone within Nintex team, in order to have more impact on the organization.
22:55 | And last, but not least, you know, I’m excited about the opportunities for Kryon employees now part of Nintex – or being Nintex employees these days. I think about these next six months ahead. I can’t tell you just how personally super excited I am. I mean, when I’ve just seen what’s happened in the last few months, I see the momentum we had together, it’s really, really clear that this is going to be and IS already great for customers. There’s a lot of innovation coming down the path together, you know. The combined offerings, you know, the problems that we can solve the outcomes we can deliver for customers. The opportunities is this means for our team members, and you know, we’ve just had so many great talented people join our company, they’re already taking on broader roles. They’re impacting our strategy, they’re impacting execution for customers. They’re positively impacting the culture, you know, it’s just really been an excellent time to be working here at Nintex and to be part of the team. So thank you so much for joining a Leadership Insights podcast today. Thank you for all of our listeners. We look forward to bringing you more awesome editions of the Nintex Leadership Insights podcast. I encourage you to always take a look at our website and Nintex.com. Not only do we have our podcast there, we also have lots of other great information that will hopefully help you on your process intelligence and automation journey. So thank you, everyone. Bye now.