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ABBYY Doubles Down on Enterprise Strategy During Q1 2019

May 6, 2019

MILPITAS, Calif.--(BUSINESS WIRE)--May 6, 2019--ABBYY charged into the first quarter of 2019 (Q1 2019) with intense focus to help global enterprises understand and extract meaning from their content. In its inaugural report, Everest Group recognized ABBYY as a leader in intelligent document processing for the execution of its vision, market impact and successfully delivering solutions to organizations worldwide. Also during Q1 2019, ABBYY reported 15% annual revenue growth in 2018, and established and expanded partnerships with robotic process automation (RPA) firms to meet growing demand for content IQ capabilities.

“We are pleased with the first quarter results and we are honored to be recognized by Everest Group as a leader for intelligent document processing. We see this as validation of our growth strategy and remain focused on investing in innovative AI solutions and technologies, expanding our sales team globally, and strengthening and adding new partnerships with RPA, BPO and other solution providers,” commented Ulf Persson, CEO at ABBYY. “It is rewarding to see the market embrace our solutions that provide the new digital workforce the skills to understand and extract content so global organizations can better make intelligent business decisions. We are confident this momentum will continue.”

Following are a few highlights from Q1 2019.

Partnership News

NICE Robotic Automation Expands Partnership with ABBYY

NICE expanded its existing partnership with ABBYY with the integration of FlexiCapture Distributed for additional AI capabilities to rapidly streamline and process unstructured data. ABBYY delivers innovative, end-to-end processing solutions that integrate with NEVA and NICE’s unattended robots.

RPA Firm Robiquity Enters into a Major Partnership Deal with Content IQ Provider ABBYY

ABBYY and Robiquity entered into a new partnership that will enable Robiquity to speed up its invoice and form recognition processing with ABBYY FlexiCapture. Robiquity’s RPA efforts benefit from faster end-to-end processing time, greater spend visibility and multichannel invoice capture.

Blue Prism and ABBYY Partnership Sees Customer Adoption Rise as Market Demand for Intelligent Automation Capabilities Increase

Both Blue Prism and ABBYY have been working closely to integrate their technologies as well as support a strong go-to-market strategy. As a result, they announced dozens of new joint customers including ASB Bank and Equinix who are using ABBYY FlexiCapture and Blue Prism’s connected-RPA platform to intelligently automate millions of transactions by turning unstructured content into structured and actionable data.

Product News

ABBYY Released Powerful PDF and OCR Solutions at American Bar Association Annual Techshow 2019

ABBYY showed law firms how they can accelerate productivity with FineReader 14 and FineReader Server 14. The company also illustrated the benefits of using digital workers within their contracts by using ABBYY Text Analytics for Contracts.

ABBYY Added Salesforce Integration to Business Card Reader App for Android

ABBYY celebrated the 10 th anniversary of its first mobile app with an upgrade to its Business Card Reader app. Android users can now easily export new contacts into Salesforce CRM as leads. The Salesforce integration empowers business professionals to connect with customers while freeing them from tedious tasks, such as typing in data from business cards. The app instantly captures contact information from a business card, saves it as a smartphone contact, and exports into the Salesforce CRM system automatically creating a new lead.

Recent Industry Events

MWC Barcelona 2019 Feb. 25-28, 2019, Barcelona, Spain

ABBYY was among the innovators and influencers that gathered at MWC Barcelona 2019. The company participated in the “Transformative AI Topic tour” which featured exhibitors leveraging various types of AI. Additionally, the flagship scanner app, FineScanner, was shortlisted in the Most Innovative Mobile App category.

ABA Techshow Feb. 27–Mar. 2, 2019, Chicago, IL

ABA Techshow is where lawyers, legal professionals and technology all come together. ABBYY demonstrated how AI-enabling technologies can be used today in the legal field.

AIIM Annual Conference March 25-28, San Diego, CA

ABBYY demonstrated the power of combining RPA and intelligent capture to deliver content IQ.

New Research Studies and Analyst Reports

ABBYY was featured in several industry analyst reports ranging from its leadership in intelligent document processing, application of its technology in finance and accounting, and its contribution to the capture market.

ABBYY was recognized as a leader in the Everest Group Intelligent Document Processing (IDP) – Technology Vendor Landscape with Products PEAK Matrix™ Assessment 2019.

Gartner report: When and Where to Use Robotic Process Automation in Finance and Accounting where ABBYY FlexiCapture is mentioned.

Technavio: Global Document Capture Software Market 2019-2023.

Additionally, ABBYY conducted independent research about workers’ attitudes toward AI and mobile technology:

Survey finds US workers want to delegate 48% of tasks to Artificial Intelligence. A US-based survey shows almost half of office workers would be happy to have robots do parts of their job that they dislike, including reviewing long documents, data entry, electronic filing and even attend meetings.

Over half of millennials want to use mobile for admin, with only 35% of businesses catching on. A UK-based survey commissioned by ABBYY found organizations are struggling to digitize as 46% of employees find pen and paper simpler to use. Workers haven’t realized the advantages of mobile, with 91% still preferring to use a desktop or laptop for administrative tasks.

New White Papers, Webinars and Case Studies

White paper: Transforming Contract Analytics into Actionable Intelligence. Discover why contract analytics is impacting contract review and obligations analysis.

Webinar with M-Files: How is Your Organization Adapting to GDPR? This webinar helps you uncover hidden data to mitigate your compliance risks.

Trending on ABBYY Blog

The Tension between GDPR and Blockchain

A potentially problematic challenge for industry and legislators is the apparent tension between privacy rights and the  rapid adoption of blockchain-based applications

5 AI Trends to Keep an Eye on in 2019

ABBYY’s Deputy Director of T&D identifies five trends that show how artificial intelligence will help power enterprise digital transformation journeys.

Why Law Firms Need an All-in-One PDF Solution

Until recently, reviewing piles of legal documents is one of the pain points of law firms.

Debunking the Myths Surrounding Automation

ABBYY’s RPA delivery partner, Robiquity, corrects common myths surrounding automation.

Upcoming Events

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

For the latest content IQ products, solutions, and resources from ABBYY, subscribe to receive the ABBYY Corporate News Digest by emailing gina@raypr.com.

About ABBYY

ABBYY is a global leader in content IQ for the enterprise, and a recognized leader in Intelligent Document Processing. Its artificial intelligence technologies and solutions give the new digital workforce the skills to understand and extract enterprise content, and help organizations make intelligent business decisions. ABBYY’s technologies are used by thousands of enterprises, government organizations, SMBs, and over 50M individuals within financial services, insurance, transportation, healthcare and other industries. They choose ABBYY for the simplicity, extensibility and intelligence its solutions offer. The company maintains offices in Australia, Cyprus, France, Germany, 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190506005578/en/

CONTACT: ABBYY Editorial Contact:

Gina Ray, APR

+1 949-370-0941

gina@raypr.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE

SOURCE: ABBYY

Copyright Business Wire 2019.

PUB: 05/06/2019 12:50 PM/DISC: 05/06/2019 12:50 PM

http://www.businesswire.com/news/home/20190506005578/en