ABBYY Marks Key Milestones During Q3 2019

Strengthens Digital Intelligence Capabilities and Expands in Asia-Pacific

MILPITAS, Calif.–(BUSINESS WIRE)–#AI—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). 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.”

Here are some key highlights from Q3 2019.

Expansion

ABBYY Completed the Acquisition of TimelinePI
The acquisition of TimelinePI represented a significant milestone in establishing ABBYY’s leadership role in the digital transformation market and as a global player in the emerging process mining market. TimelinePI’s co-founder, Scott Optiz, was appointed president of ABBYY Timeline, and ABBYY will continue to invest in the technology team in Hungary, and market the process intelligence platform to its thousands of customers globally.

ABBYY Opens Office in Hong Kong to Strengthen Presence in Asia
To support the growing investment in intelligent automation in Asia-Pacific, ABBYY opened an office in Hong Kong, and introduced its APAC strategy at AI World Hong Kong. This is in addition to its established offices in Taiwan and Japan, and its strong partner network. ABBYY anticipates significant growth from the region as investment in intelligent automation solutions is estimated to reach $5.5 billion this year, according to IDC.

Customer News

ABBYY Technology Selected to Drive Finance Digitization at Costain
Costain, a smart infrastructure solutions company, is upskilling its finance team with the use of ABBYY FlexiCapture and UiPath partner Agile. Costain is transforming its procure to pay operations, including invoice processing and posting invoices to its ERP system, using Content IQ and RPA.

Chip VonBurg Heads Strategic Customer Success
To ensure key, strategic enterprise customers gain the full benefits of ABBYY Digital IQ technologies and solutions, Chip VonBurg was promoted to Head of Strategic Customer Success. He will lead a global team that supports customer relationships and delivers tangible results in improved retention, renewal rates and customer experience.

Product News

ABBYY FineReader 15 Makes the First Step to Digital Transformation Faster and Easier
Digitizing documents is the first step in a company’s digital transformation journey. The release of FineReader 15 includes ABBYY’s AI-based text recognition technology and other enhancements, making it a powerful PDF tool that improves document productivity for the digital workplace.

ABBYY Unveils Updated Mobile Apps for iOS 13
ABBYY released iOS 13 updates for FineScanner AI and Business Card Reader mobile applications. The latest updates allow users to ask their smart assistant to display a previously scanned text or business card, digitize a new document, or initiate a chain of other actions. FineScanner AI for iOS is free to download and available on the App Store.

Recent Industry Events

ABBYY executives engaged with customers and partners at industry events worldwide. They demonstrated solutions that illustrated the benefits Digital IQ offers enterprises.

Digital Workplace UK Conference, UK September 2019

ABBYY joined its partner, M-Files, to share experiences and best practices on how to keep up with digital change with Content IQ.

Business Breakfast with ABBYY, NICE and Novelis, Paris September 2019

ABBYY and its partners hosted a breakfast to discuss the business value with Content IQ and RPA.

IT Strategy Meeting, Frankfurt September 2019

ABBYY provided real-time advice to pre-qualified stakeholders on how to enhance their digital transformation with ABBYY Content IQ solutions.

ISG Automation Summit, London September 2019

ABBYY executives showed enterprises how to transform their business with AI, RPA and cognitive automation.

Deloitte Shared Services Conference, Dublin September 2019

ABBYY shared its Content IQ solutions at the largest and most insightful shared services event in Europe. The event attracted leading CFOs, financial controllers and BPO contract managers.

AI Summit Hong Kong, August 2019

ABBYY outlined its APAC strategy, and Chief Innovation Officer Anthony Macciola delivered a keynote on, “Digital Intelligence: Using AI to Better Understand business.”

2019 EMEA Expo Zurich, July 2019

ABBYY demonstrated how its Digital IQ solutions can improve insurance organizations’ practices and customer experience.

Recent Industry Research

ABBYY is featured in the following analyst reports:

Gartner, Market Guide for Process Mining

IDC, Worldwide Capture Software Market Shares, Focus on Intelligent Automation

IDC, Market Analysis Perspective: Worldwide Enterprise Content Strategies

HSA, Inc., The 2019-20 Worldwide Market, Capture Software

New Podcasts, White Papers and Webinars

ABBYY is featured in the following educational resources:

Cognilytica AI Today Podcast: Content Intelligence: Interview with Bill Galusha, ABBYY; Bill and analysts dive deep into the conversational and human interaction pattern of AI, one of the seven main patterns of AI systems.

UiPath video: Behind the Scenes with Medline: Automating Accounts Payable

UiPath video: Behind the Scenes with ABBYY: Make your Digital Workforce Smarter with UiPath and ABBYY Vantage

White Paper: Cognilytica: How Content Intelligence Will Transform the Enterprise

White Paper: Accelerating RPA with a Comprehensive Process Intelligence Platform

White Paper: The Rise of the Process Digital Twin

Webinar in French: Maximisation de l’OCRisation : les algorithmes de traitement d’image

Trending on ABBYY Blog

Mobile is the Magic Word for Banks. Isn’t it?
A smooth mobile account opening process enables banks to speed up customer onboarding. But, many banks today are still only offering clients and prospects remote deposit capture and mobile bill payment. This blog outlines the key reasons for drop-outs during customer conversions and the recipe for success.

Content IQ Skills Keep Getting Smarter and Easier to Use
With the new digital workforce growing fast, the ability to quickly consume and use Content IQ technologies across all business areas empowers a broader set of users in the enterprise to automate more. This blog highlights the newest enhancements with ABBYY Vantage that make it easy to train and deploy intelligent automation projects leveraging RPA and Content IQ skills.

Driving Successful RPA Implementation with Automated Process Discovery
Process intelligence’s discovery of the current as-is state of an organization’s business processes provides a baseline for process improvements and identifies key problem areas to be addressed for improvement, eliminating guesswork during the pre-implementation phase of RPA.

Upcoming Events

See ABBYY Digital IQ solutions in action at the following industry and partner conferences:

ABBYY Content IQ Summit, Nashville, Tennessee – October 23-25, 2019
Learn about the latest trends driving digital transformation and the new digital workplace as we explore how businesses are leveraging Digital IQ technologies and solutions to automate processes, make intelligent data-driven decisions, and uncover new possibilities.

Shared Services & Outsourcing Week, Prague October 14-17, 2019
Join ABBYY at SSOW Autumn, Europe’s longest running business services event. We’ll discuss intelligent automation, data-driven service innovation and impactful next-gen talent strategies.

AI World 2019, Boston October 23-25, 2019
ABBYY will explore the use of AI in content to accelerate business value at the industry’s largest independent business event focused on the practice of AI in the enterprise. ABBYY’s AI evangelist, Ivan Yamshikov, will speak about the shift in the future of work as we augment human intelligence with AI. Visit us at booth 216.

Asian Shared Services and Outsourcing Week 2019, Singapore November 19-20, 2019
SSOW Singapore is the #1 event for the shared services and outsourcing industry in Asia, with this year’s focus on community discussions on solidifying Asia’s competitive advantage in the global Shared Services map. Visit ABBYY at stand 31 to discover AI-based solutions for the automation of document-driven processes and Content IQ. Also join ABBYY expert KK Tung in one of two sessions of the interactive Roundtable B: “Digital Transformation in GBS – A Reality check of AI-Based Solutions in Document Driven Activities”, 19 November at 1:30 p.m.

ABBYY TechExchange, Paris November 21, 2019
Join our ABBYY experts in Paris for a day dedicated to our partners, full of sessions covering the latest developments in character recognition, data capture and Digital IQ solutions. We will present new technologies based on Deep and Machine Learning and show you new SDKs that you can integrate into your projects. Come and discuss your ideas, projects and questions with us and your peers, and discover how you can enhance your solutions with our new technologies.

For the latest Digital IQ products, solutions, and resources from ABBYY, subscribe to receive the ABBYY Corporate News Digest by emailing gina@raypr.com.

About ABBYY

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. For more information, please visit www.abbyy.com/company.

ABBYY and the ABBYY Logo are either registered trademarks or trademarks of ABBYY Software Ltd. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective owners and are hereby recognized.

Contacts

ABBYY Editorial Contacts:
Catherine Johnson
Catherine.johnson@abbyy.com

Gina Ray, APR
+1 949-370-0941

gina@raypr.com