One year after TimelinePI merger, momentum driven by technical innovation and demand for rapid business transformation
One year after TimelinePI merged with ABBYY, ABBYY reports growing momentum for its advanced Process Intelligence solution. ABBYY offers the only solution that combines the benefits of accessing and understanding enterprise content with process analysis. It empowers businesses to use the information contained within their systems to create a visual model of their processes, analyze them to identify opportunities for process improvement, perform real-time operational monitoring and predict and take pre-emptive action of future outcomes to facilitate decision-making.
One year after TimelinePI merged with ABBYY, ABBYY reports growing momentum for its advanced Process Intelligence solution.
The Process Discovery and Mining (PDM) market is experiencing a surge and is expected to continue its upward trajectory which combined with ABBYY’s significant technological advancement will provide ABBYY with substantial growth opportunities. The current global PDM market size is estimated by analyst firm NelsonHall at $566.5 million and is projected to grow up to $5.4 billion by 2024, an increase of 57% Compound Average Annual Growth Rate (CAAGR).
Momentum for ABBYY’s process mining is driven by the company’s strong global market position and its existing worldwide network of partners that address intelligent automation initiatives. Partners include global consulting firms, major robotic process automation (RPA) vendors such as Blue Prism, specialist integration solutions such as BDO, Novelis, Synpulse, Embrace, Inpute, Naviant, Ashling Partners, and other global partners who help organizations in vertical industries accelerate their digital transformation.
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Furthermore, ABBYY’s Process Intelligence solution, ABBYY Timeline, experienced the highest year-over-year growth in revenue out of all leading process mining solutions, according to Process Mining State of the Market Report 2020 by analyst firm Everest. ABBYY is experiencing increased adoption of its Process Intelligence solution within financial services, healthcare and telecommunications to drive digital transformation, improve customer engagement and support risk and regulatory compliance priorities.
“ABBYY has made a complicated process mining concept that was considered a luxury technology into a business-critical tool that allows users to immediately dive into analyses without needing to code anything,” said Michael Carr, President and CEO at Naviant, a leading business process and content management consulting firm. “With comprehensive monitoring capabilities for the broadest range of process types, out-of-the-box dashboards for in-depth analysis, and the ability to pull data from any back-end system, ABBYY enables us to transform processes in a manner that impacts the customer experience, operational efficiency, and the bottom line.”
