ABBYY Marks Key Milestones During Q3 2019
Strengthens Digital Intelligence Capabilities and Expands in Asia-Pacific
ABBYY marked two strategic milestones during the third quarter of 2019 (Q3 2019) integral to its corporate growth strategy. It completed the acquisition of TimelinePI to add process intelligence to its Digital IQ offerings with process intelligence capabilities, and opened an office in Hong Kong to seize a portion of the growing market opportunities in the Asia-Pacific region.
ABBYY is committed to help companies implement their digital strategies by addressing two main challenges in automation: understanding content (content intelligence) and understanding processes (process intelligence).
ABBYY is committed to help companies implement their digital strategies by addressing two main challenges in automation: understanding content (content intelligence) and understanding processes (process intelligence). With TimelinePI, ABBYY now provides process IQ and is also positioned as a strong player in the process mining market, which is expected to grow to $1.4 billion by 2023.
Furthermore, by having a physical presence in Hong Kong, ABBYY is able to be more aggressive in the $5.5 billion Asia-Pacific intelligent automation market.
“The addition of TimelinePI’s product into our portfolio delivers significant value to our customers and partners who have realized that while ABBYY is able to make software robots smarter with Content IQ skills, they were still lacking the understanding of which processes to target for automation, or how to monitor them successfully following implementation,” commented Ulf Persson, CEO of ABBYY. “Process IQ gives powerful AI-driven capabilities to help organizations discover, visualize and monitor processes, predict outcomes and receive alerts if a process falls outside of compliance regulations. With the combination of content and process understanding, we offer organizations comprehensive digital intelligence so they can be more agile in making business decisions and improving customer experiences.”
ABBYY is a global leader in Digital IQ for the enterprise. We create a new class of AI technologies that provide digital workforce the skills to understand enterprise content and processes. Our technologies are used by thousands of enterprises in finance, insurance, transportation, healthcare and other industries, helping organizations make intelligent business decisions. ABBYY has offices in 13 countries around the world, including Australia, Cyprus, France, Germany, Hong Kong, Hungary, Japan, Russia, Spain, Taiwan, the UK, Ukraine, and the United States.