• April 23, 2024

ABBYY, a Bay Area company specializing in process intelligence, said enhancements available in its new Timeline 6.0 platform enable users to identify automation opportunities and build new optimized processes 80 percent faster than before.

ABBYY, which launched as a document capture and optical character recognition software provider in 1989, added process mining to its capabilities when it acquired technology provider TimelinePI in 2019. Process mining has become an increasingly important part of the automation strategy for companies, enabling them to identify which processes can and should be automated, reveal bottlenecks and inefficiencies in processes and reduce operating costs. According to IDC research cited in ABBYY’s announcement, it is the fastest growing subset of the intelligent process automation market, expected to reach annual sales of $3 billion by 2026.

“Process mining is proving to be an effective tool for organizations improving operational efficiency. Yet combined with task mining, leaders have a more comprehensive understanding of how staff impact customer outcomes,” said Maureen Fleming, program vice president for Intelligent Process Automation at IDC. “An emerging capability is process simulation, which will be powerful in predicting how variables in resources could either increase unnecessary costs or accelerate performance goals.”