ABBYY Invests in Technology Innovation During Q2 2019

Acquisition Plans and Enhancements to Solutions Increase Company’s Content IQ Capabilities

MILPITAS, Calif.–(BUSINESS WIRE)–#AI–ABBYY focused on expanding and enhancing its solutions during the second quarter of 2019 (Q2 2019). Its Content IQ portfolio comprises of a set of enabling technologies that help digital workforces discover, understand and unlock value contained in enterprise content. The intent to acquire TimelinePI serves to add process intelligence capabilities (Process IQ) to the company’s Content IQ capabilities. Additionally, advances made to mobile and cloud solutions were among the highlights during the quarter.

“We are focused on our strategy to deliver business value to our customers and partners through our integrated portfolio of AI-enabling technologies that increase digital workers‘ intelligence,“ commented Ulf Persson, CEO at ABBYY. “Investments in innovation is critical to this strategy. By adding Process IQ to our Content IQ offering, we will further augment the value we bring to our partners and customer as they realise their digital transformation initiatives.”

Here are some of the highlights from Q2 2019.

Expansion

ABBYY Announces Intent to Acquire TimelinePI to Deliver Digital Intelligence for Enterprise Processes

Philadelphia-based TimelinePI provides a comprehensive process intelligence platform designed to empower users to understand, monitor and optimize any business process. The global process analytics market size is expected to grow to $1.4m by 2023, and the acquisition of TimelinePI is intended as a strategic investment by ABBYY into the emerging process intelligence market and strengthen its Digital IQ capabilities.

Partnership News

ABBYY and M-Files Strengthen Collaborative Partnership to Accelerate Enterprise Digital Business Transformations

ABBYY has become an M-Files Certified Application Partner (CAP) following the release of its FlexiCapture Connector for M-Files. The connector seamlessly integrates ABBYY’s intelligent data extraction and recognition capabilities with M-Files’ intelligent information management solution to fully automate end-to-end business solutions, like accounts payable invoice automation.

Product News

ABBYY Launches Mobile Web Capture SDK to Revolutionize Customer Onboarding on Mobile Devices

ABBYY Mobile Web Capture is a new SDK enabling developers to add real-time image and data capture to their mobile web-based onboarding scenarios. Suitable for iOS and Android, the SDK will help companies to dramatically accelerate onboarding processes, decrease client dropout rates caused by manual data entry, and create a better customer experience.

New ABBYY FineScanner AI brings the Power of Neural Networks to Document Scanning and Text Recognition

ABBYY FineScanner AI, is the next-generation mobile scanner for iOS and Android. The new AI-enabled functionality allows the user to instantly find photos of documents in the gallery and recognize the text in them without an Internet connection.

ABBYY FlexiCapture Cloud Accelerates Adoption and Processing with new REST API and Real-Time Capture

ABBYY announced a series of innovations to ABBYY FlexiCapture, an AI-enabled enterprise platform to automate document processing workflows and convert unstructured content into structured data for better business outcomes. The updates include the launch of the ABBYY FlexiCapture Cloud REST API (Representational State Transfer Application Programming Interface) and the introduction of the new Real-Time Capture technology for real-time document processing in the cloud.

Awards

ABBYY executives and solutions were honored with industry accolades for their vision, execution and market acceptance.

ABBYY Recognized Among Hot VendorsTM in Document Analytics, 2019 by Aragon Research

The research firm recognized ABBYY for its complete range of AI-based technologies and solutions transforming business documents and content into business value. The solutions highlighted by Aragon Research were ABBYY Vantage and FlexiCapture.

ABBYY Received AI Breakthrough Award for Vision – Best Image Processing Solution

AI Breakthrough, a leading market intelligence organization that recognizes top companies, technologies and products in the global AI market, recognized ABBYY FlexiCapture for the Vision – Best Image Processing Solution. The awards program attracted more than 2,500 nominations from 15 different countries, and selected companies and solutions that drive innovation and exemplify the best in AI-related technology.

FeaturedCustomers Named ABBYY a Market Leader in the ‘Winter 2019 Accounts Payable Software Customer Success Report’

FeaturedCustomers recognized ABBYY as a Market Leader in Accounts Payable Software for its substantial customer base, market share and customer success testimonials that validated its vision.

ABBYY’s Paula Sanders and Kristin Wagener Honored Among CRN’s 2019 Women of the Channel

The leaders on this annual list are from all areas of IT channel ecosystem, representing technology suppliers, distributors, solution providers, and other IT organizations. Each is recognized for her contributions to channel advocacy, channel growth and visionary leadership.

Recent Industry Events

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

FinTech Summit Partner at Bucharest Tech Week, May 23, 2019, Bucharest, Romania

FinTech Summit gathers key opinion leaders in the financial industry to share their experience and insights on how to empower the usage of technology in Finance. The conference explores how the financial ecosystem is emerging with advances in innovative technologies, reshaping the financial services 360 degree: Blockchain Technology, Smart Contracts Platforms, Instant Payments, Expansion of Open Banking, Mobile Payments, Virtual Banking & RegTech.

Blue Prism World USA, May 22-23, 2019, Orlando, Florida

Blue Prism World offers real value insights and information to move your business beyond its current capabilities, looking at the workforce ecosystem and what the future holds for digital transformation.

IOFM Spring, May 19-21, 2019, Orlando, Florida

AP & P2P Conference & Expo has high ROI. The largest, most comprehensive event dedicated to Accounts Payable brings together experienced practitioners and innovative strategists to provide an in-depth four-day AP learning experience.

CLOC Institute, May 14-16, Las Vegas, Nevada

The goal of the CLOC Institute is to disseminate actionable steps that can be taken to drive specific changes. With educational sessions provided by practicing industry leaders, the CLOC 2019 Institute offers unrivaled opportunities to stay on the cutting edge of today’s legal operations trends and technologies.

Shared Services and Outsourcing Week Europe 2019, May 13–19, Lisbon, Portugal

SSOW Europe is the biggest conference for the shared services and outsourcing industry in Europe, with this year’s focus on digitally empowered service and Intelligent Automation. ABBYY showcased AI-based solutions for the automation of document-driven processes – be it structured, semi-structured, or unstructured documents – and Content IQ.

European Banking Forum – Digital Transformation in Retail Banking, May 14-15, London, UK

This year’s forum focused on banks’ key issues with regard to innovation and digital transformation, as changing customer demands or new technologies that come along with the rise of Fintechs. ABBYY experts provided opportunities to learn more about how our Content intelligence solutions can help optimize customer experience and operational efficiency.

AppianWorld, May 13-15, San Diego, California

The show in beautiful San Diego shows how intelligent automation drives real ROI, and get insights on where AI, RPA, and BPM are headed.

Connected Claims USA by InsuranceNEXUS, June 5-6, Chicago, Illinois

Connected Claims USA is the only place bringing together 1,000 senior claims executives to set the bar for the future of claims.

Outsourcing & Shared Service Germany Forum, June 4-5, 2019, Berlin, Germany

This independent and non-commercial conference directed to ITO, BPO, SSC, as well as RPA and AI services, focuses on important aspects of buyers and services providers and gives insights on the market conditions in Germany.

PegaWorld, June 2-5, 2019, Las Vegas, Nevada

PegaWorld brings together the biggest brands on the planet – including the experts who build and use Pega’s game-changing software – for real talk about the transformative power of tech.

We are Developers World Conference, June 6-7 Berlin, Germany

ABBYY demonstrations included how to integrate powerful technologies for Data Capture, Mobile Capture, OCR, forms processing, invoice processing, Content IQ, and more. “Demystifying AI” provided first-hand insights on AI from ABBYY AI Evangelist Ivan Yamshchikov.

AI Summit, London, June 12-13, 2019 at ExCeL Centre, London UK

The AI Summit is part of the London Tech Week, and is the world’s first and largest conference and exhibition to look at the practical implications of AI for enterprise organizations, where leading experts discuss the actual solutions that are transforming business productivity. It annually attracts over 20,000 attendees from around the world.

Shared Services Finance and Accounting, Dallas, Texas, June 26-28, 2019

Providing innovative tools and strategies to help you streamline, optimize and centralize your finance services. Through curated discussions, led by distinguished speakers, this event addresses challenges and provides innovative solutions to increase organizational business efficiency

FinTech Junction, June 26-27, 2019, Tel Aviv, Israel

FinTech Junction is Israel’s largest and leading conference on technology and innovation in the financial industry. CXO’s, entrepreneurs, investors, innovation and fintech leaders from the leading startups, fintechs, banks, financial institutions, hubs, accelerators and investment companies, private, public, and government-owned organizations are among the attendees.

Israel Software Development Conference, June 24, Tel Aviv, Israel

Focusing on how Content IQ empowers Digital Workforce. This conference provided the opportunity to learn more about Data Capture and Robotic Process Automation solutions based on AI, Machine Learning and NLP to power Digital Transformation.

2019 EMEA Expo Zurich, July 3-4, 2019, Zurich

Zurich insurance gathers internal influencers and senior leadership members from EMEA for its EMEA Expo, a great sharing and learning opportunity of digital capabilities and innovative practices.

4th AI & Robotic Process Automation World Summit 2019

The AI & RPA World Summit brings together providers and end-users to explore the future of AI in different domains as Shared Service Center, Finance, HR, etc. They presented hands-on solutions on how to scale up RPA and leverage intelligent automation to robotize end-to-end.

New Research Studies and Analyst Reports

Forrester, The Forrester Wave™: Contract Lifecycle Management for All Contracts – ABBYY is noted as a complement to CLM vendors and for having developed partnerships with system integrators that help with implementing CLM solutions.

Forrester, Look to Four Use Case Categories to Push RPA and AI Convergence – ABBYY is noted as being used by many RPA vendors for its cognitive skills.

Gartner Research, Magic Quadrant for Intelligent Business Process Management Suites – ABBYY is noted as a strategic OEM partner for optical character recognition.

IDC LINK Report, ABBYY Supports the New Digital Workforce with Launch of Vantage.

ABBYY was highlighted in the eMarketer report, Found in Translation: How AI is Helping Marketers Extend Global and Local Reach.

New White Papers and Webinars

E-book: Breaking Barriers in Mobile Customer Onboarding

This e-book details how companies can strengthen customer loyalty within the first touchpoints and increase customer retention.

White paper with Everest Group Research: Advanced Content Intelligence, Accelerating Digital Transformation with AI Powered Advanced Content Intelligence.

Webinar: ABBYY Vantage – Content IQ skills platform for the digital workforce, May 14

More on ABBYY Vantage, the next-generation Content IQ platform that helps organizations accelerate their digital transformation by complementing Robotic Process Automation (RPA) or Business Process Automation (BPA) platforms with new and advanced content skills.

Webinar: Intelligent document classification, thanks to advanced self-learning, May 16

Revealed how a solution based on Artificial Intelligence can classify and separate different document classes – for example forms, claims, delivery notes, or invoices – automatically with ease, helping to maximize business efficiency and accelerate decision-making cycles.

Webinar: AI and Machine Learning in ABBYY FineReader Engine 12, June 4 (French)

This first part of a series of webinars on ABBYY FineReader Engine 12 gave some detailed insights on how Machine Learning and Artificial Intelligence work in our SDK and how these technologies benefit the recognition process.

Webinar: Powering Automation for BPO’s with the ABBYY AI Portfolio, June 19

Explained how our AI technology boosts most leading RPA products. Information about our BPO/SSC platform solutions, integrating OCR, classification, and extraction power to your solutions, so you can meet SLAs easily, and boost productivity and ROI.

Webinar: Elevating onboarding customer experiences with ABBYY mobile solutions, June 27

This webinar showed how to effectively build end-to-end solutions to optimize your digital onboarding processes fed by mobile devices.

Trending on ABBYY Blog

The AI Summit helps Businesses Look Beyond the AI Hype

The AI Summit has shifted the focus of AI conferences from research and academia to practical implementation for enterprise business use across the globe.

How Content IQ Powers Robotic Processes

Many companies today are hesitant to adopt new technologies for fear of disrupting their existing business – sort of a “if it isn’t broke, don’t fix it” attitude. However, as new technologies change the way customers interact with companies, change becomes necessary for survival.

Upcoming Events

See ABBYY content IQ solutions in action around the world at the following industry and partner conferences:

ABBYY Content IQ Summit, Nashville, Tennessee – October 23 — October 25, 2019

Learn about the latest trends driving digital transformation and the new digital workplace as we explore how businesses are leveraging Content IQ to automate processes, make intelligent data-driven decisions, and uncover new possibilities.

For the latest content IQ products, solutions, and resources from ABBYY, subscribe to receive the ABBYY Corporate News Digest by emailing [email protected].

About ABBYY

ABBYY is a global leader in Content IQ technologies and solutions. ABBYY offers a complete range of AI-based technologies and solutions transforming business documents and content into business value. By providing digital transformation solutions to financial services, insurance, transportation, healthcare, and other industries, the company helps organizations achieve the next wave of growth by understanding customers and delivering responsive real-time intelligent systems. The flexibility of ABBYY AI solutions enables customers to utilize a diverse range of advanced technologies, platforms and solutions for classification, text analytics, data and entity extraction, and data validation via any communication channel and in any format. ABBYY technologies are used and licensed by some of the largest international enterprises and government organizations, as well as SMBs and individuals. The company maintains offices in Australia, Cyprus, France, Germany, Hong Kong, 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 Contact:

Gina Ray, APR

+1 949-370-0941

[email protected]

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