SHANGHAI, Jan. 24, 2019-- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), a leading information technology ("IT") consulting and solutions service provider focusing on the banking, insurance and financial sectors in China and globally, today announced the success of an internal pilot test run of its Robotic Process Automation (RPA) technology.
Robotic Process Automation (RPA) has been one of the important research areas of CLPS Research Institute. In December 2018, CLPS ran a successful internal pilot test of RPA, aiming to automate the in-house human resources department's business processes, which cover more than 2,000 employees. Instead of manual work, the RPA mimics human activity that streamlines the internal management system and improve efficiency.
Through its in-depth RPA research effort, CLPS has been able to transform its routine human resources business processes from manual work to automated processes. This development optimizes the Company's operations and, as a result, will reduce operational costs and human error without compromising the legacy HR system. Most importantly, employees will be able to devote more time to higher-value tasks like data analysis, decision-making, and innovation.
The RPA pilot not only benefits the Company's ongoing various business processes and operating efficiency, it also lays a solid foundation for offering RPA technology solutions to clients in the banking, insurance, and financial industries. Going forward, CLPS plans to explore solutions that combine RPA with artificial intelligence and big data to facilitate digital transformation and to create greater business value to its clients.
About CLPS Incorporation
Headquartered in Shanghai, China, CLPS Incorporation (the "Company") (Nasdaq: CLPS) is a global leading information technology ("IT"), consulting and solutions service provider focusing on the banking, insurance and financial sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial industry, including large financial institutions in the US, Europe, Australia and Hong Kong and their PRC-based IT centers. The Company maintains ten delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Chengdu, Guangzhou and Shenzhen. The remaining three global centers are located in Hong Kong, Singapore and Australia. For further information regarding the Company, please visit: http://ir.clpsglobal.com/.
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company's control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in the Company's most recently filed annual report on Form 20-F and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
Tian van Acken
Chief Financial Officer