ABBYY has once again been named a leader in intelligent automation technologies. Renowned analyst firm ISG has placed ABBYY as a global leader for both intelligent document processing (IDP) and process and task mining. ABBYY’s leadership position extends across the US, UK, Germany, the Nordics, and Brazil markets.
The ISG Provider Lens™ Intelligent Automation Platforms and Products states that ABBYY’s no-code/low-code IDP solution, Vantage, is “one of the most advanced and comprehensive IDP management platforms.” ISG explains the benefits of IDP enable companies to reduce costs, increase workforce productivity, improve accuracy, ensure compliance, and enhance customer satisfaction.
ABBYY IDP has proven to boost employee productivity by an incredible 400%, with 95% of documents automated out of the box for a wide range of complex, unstructured documents for multiple sectors including insurance, banking, and transport and logistics – covering everything from statements to policy claims, IDs, and waybills. Vantage enables straight-through processing of documents by automatically capturing, extracting, and processing data embedded in business documents which improves knowledge workers’ and customers’ experiences.
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“ABBYY has expanded and enhanced its industry-leading IDP capabilities into more than 100 assets that enable companies to transform their document-centric processes faster. Furthermore, the pre-trained capabilities of the platform accelerate the cycle time for developing new domain and function-specific use cases and solutions,” stated Ashwin Gaidhani, Research Partner at ISG. “The focus on the user experience and ease of use makes the platform one of the friendliest document processing solution development workbenches for trained professional coders, technologists and non-technical business and functional users.”
Simultaneously, ABBYY’s process mining platform, Timeline, is positioned as a leader in the ISG Intelligent Automation Provider Lens™ – Process Discovery and Mining for its advanced process analysis capabilities, high scalability, and usability. ISG states that the global process discovery and mining market is witnessing a surge in demand, with some analysts estimating the process mining software market is projected to grow to $2.3 billion by 2025 with a double-digit CAGR of 33%.
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Companies are using process intelligence solutions to review and assess their process workflows to work smarter and to stay competitive. ISG analysts state that Timeline’s differentiated capabilities enable end-to-end process visibility and provide “user-friendly business processes analysis tools, advanced task mining analytics, and visualization mechanism to track process flows.” Furthermore, Timeline offers forecast and simulation capabilities to ensure continued optimum workflow efficiency.
Gaidhani continued, “ABBYY Timeline includes powerful process and task-mining technologies based on the latest improvements and developments in AI. It allows enterprises to automatically create an interactive digital twin of their processes, evaluate them in real time to detect bottlenecks and anticipate future results to support technology investment decisions.”
“In 2022, we saw increased attention within our core markets for our intelligent document processing and process intelligence solutions that deliver demonstrable customer-focused innovation,” commented Gabrielle Lukianchuk, Chief Marketing Officer at ABBYY. “There is strong market momentum going into 2023 and we look forward to working alongside our customers during the intelligent automation journeys.”