ABBYY to acquire TimelinePI to deliver digital intelligence for enterprise processes
ABBYY, a provider of Content IQ technologies and solutions, has signed an agreement to acquire TimelinePI, which provides a process intelligence platform designed to empower users to understand, monitor and optimize any business process.
The acquisition of TimelinePI is a strategic investment by ABBYY into the emerging process intelligence market.
TimelinePI’s approach, which combines process mining and operational monitoring with process-centric AI and machine learning will serve as a cornerstone to ABBYY’s Digital IQ strategy.
“Organizations are focused on digital intelligence to impact process, patient, business and customer outcomes. Process intelligence is required to truly understand the operational effectiveness of business processes and how well they support a business strategy,” commented Ulf Persson, CEO at ABBYY. “With TimelinePI, ABBYY will have the most comprehensive process intelligence platform for empowering companies to go beyond traditional text analytics and process mining to achieve true digital intelligence. With ABBYY’s advanced content analysis and natural language processing, the TimelinePI technology will achieve operational insights not available with traditional process mining tools.”
TimelinePI’s platform enables users to visualize, quantify, and understand how processes behave by providing detailed insights into true performance, bottlenecks and risks. Its patent-pending Timeline Analysis approach handles the range of business process types—from highly structured to ad hoc. According to the companies, this approach to process intelligence allows healthcare providers, banks, insurance companies, government agencies and other customers to take control of their data and raise their Process IQ to achieve operational efficiency that improves the customer journey.
The transaction is expected to close by end of second quarter 2019. After the transaction closes, ABBYY will continue to market and enhance the TimelinePI platform and offering to customers both separately and as part of new solution bundles as an extension of ABBYY’s current and future products.
For more information, visit www.abbyy.com/company.