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The HfS Intelligent Automation team recently met with the leadership of Dedham, MA-based Rage Frameworks to understand where their approach is fitting in on the Continuum of Intelligent Automation and how the company is aiming to differentiate itself.
Rage Frameworks has been in the market for business processes automation for more than 7 years. However, in contrast to the leading RPA tool providers, its focus is not on automating specific process steps, often on sub-process level, but on developing a broad ranging platform (RAGE Enterprise) for custom solutions with a deep vertical footprint. The development effort over the last year to build enterprise applications for financial industry processes (wealth management, commercial loan processing and financial statement spreading) is shifting the focus from automation tools and capabilities to providing an end-to-end process leveraging a model driven business transformation platform. A partnership agreement in November 2015 with Genpact to automate additional processes for financial services firms is a reference point for an acceleration in traction.
What HfS saw in RAGE was a capability framework RAGE Enterprise currently comprising a set of 20+ different engines for functionality from managing business rules, to real-time integrating content to data access and NLP all built around a process assembly engine. These engine building blocks can then be assembled for custom solutions that automate business processes or can be used as one of three pre-assembled financial services industry applications: LiveWealth, LiveCredit and LiveSpread.
This approach of modular functional engines for the development and operation of automated business processes is innovative and offers yet another way for enterprises and service providers to think about automating and transforming existing business processes.
It is still early days in assessing Rage Frameworks and we are still looking to see where to put this vendor in our HfS Continuum for Intelligent Automation but we’re still excited to see yet another model gain traction and in particular to begin to appear on the radar of leading business process outsourcers.
Intelligent Automation is at the center of our Ideals for moving to the As-a-Service Economy and HfS is always interested in shining the spotlight on new vendors and service providers we discover who are innovatively helping to make this Ideal more tangible in the enterprise.