ABBYY Reaffirms Its Position as an Intelligent Automation Market Leader
With a rising demand for intelligent automation in the enterprise and the market expected to soar to $49 billion by 2026, ABBYY is honored to have been named a leader by 10 industry analyst firms in 2022.
Leading analyst firms including Gartner, IDC, Everest Group, NelsonHall, and Infosource have featured ABBYY in their reports as a top provider in intelligent document processing and process mining, two essential sets of technologies enabling intelligent automation. The company has been recognized for its solution capabilities, competitive strength, market impact, strategic vision, and customer focused approach. ABBYY’s intelligent document processing (IDP) platform Vantage, as well as its process and task mining platform Timeline, have been hailed as market-leading solutions for functionality, architecture, scalability, user experience, security, and customer support.
Most recently, global advisory and consulting firm Quadrant Knowledge Solutions published their Intelligent Document Processing SPARK Matrix™, providing strategic insights for enterprises to evaluate vendors’ capabilities, competitive differentiation, and market position. The assessment positions ABBYY as the top IDP provider globally, highlighting its low-code/no-code platform Vantage that can demonstrate business value right from the design time setup. Additionally, out-of-the-box ML-based document models and connectors available in ABBYY Marketplace are among “the key differentiators of the platform, as they enable operational efficiency and turn insights into actionable data.”
Adoption of intelligent automation solutions has been increasing, especially since the pandemic, due to the need to accommodate remote and hybrid work, improve efficiency, and meet consumer expectations for more personalized digital services and quicker response times. Organizations worldwide are automating time-consuming routine business processes to enable workers to concentrate on more important tasks that help grow revenue. ABBYY Vantage has saved ABBYY customers millions of dollars with a reported 400% increase in employee productivity and straight-through document processing rates of more than 95%, such as automating invoicing and accounts payable and getting products to market faster. In addition, ABBYY Marketplace provides off-the-shelf automation by offering AI powered digital skills for recognizing and processing a variety of business documents such as purchase orders, utility bills, bank statements, waybills, tax forms, insurance claims, and lease agreements.
“ABBYY is capable of catering to diverse customer needs across industry verticals. With its comprehensive capabilities, compelling customer references, comprehensive roadmap and vision, and product suite with high scalability, the company has received strong ratings across the parameters of technology excellence and customer impact and has been positioned as a leader in the SPARK Matrix: Intelligent Document Processing, 2022,” commented Madhu Kittur, Analyst, Quadrant Knowledge Solutions.
ABBYY was also placed as a leader for IDP by leading analyst firms Zinnov, Avasant Research, GigaOm, and Deep Analysis.
Deep Analysis, which focuses on providing expertise and actionable guidance in enterprise technology, featured ABBYY Vantage in its 2022 Innovation Index Award Winners list, saying, “ABBYY has been around for a long time, and one expects incremental upgrades from long-standing vendors. Vantage, though, and NeoML, were a breath of fresh IDP air from quite an unexpected quarter.”
Furthermore, five global analyst firms featured ABBYY Timeline as a market leader in process mining assessments in 2022, including NelsonHall, ISG, Zinnov. Quadrant Knowledge Solutions, and GigaOm.
“This intelligent automation market recognition is further proof that ABBYY continues to be committed to the ongoing success of our customers and uniquely delivers solutions that immediately impact business optimization,” commented Gabrielle Lukianchuk, Chief Marketing Officer at ABBYY. “Consistently leveraging the insights of top industry experts enables both enterprise customers and technology vendors to gain an unbiased understanding of the market, predict future trends, and formulate growth strategies.”