One year after TimelinePI merged with ABBYY, ABBYY reports growing momentum for its Process Intelligence solution. The global Process Discovery and Mining (PDM) market is estimated by analyst firm NelsonHall at $US566.5 million and is predicted to grow up to $US5.4 billion by 2024.

ABBYY TimelinePI allows businesses to use the information contained within their systems to create a visual model of their processes, analyse them to identify opportunities for process improvement, perform realtime operational monitoring and predict and take pre-emptive action of future outcomes to facilitate decision-making. ABBYY claims it offers the only solution that combines the benefits of accessing and understanding enterprise content with process analysis.

ABBYY is experiencing increased adoption of its Process Intelligence solution within financial services, healthcare and telecommunications to drive digital transformation, improve customer engagement and support risk and regulatory compliance priorities.

“ABBYY has made a complicated process mining concept that was considered a luxury technology into a business-critical tool that allows users to immediately dive into analyses without needing to code anything,” said Michael Carr, President and CEO at Naviant, a leading business process and content management consulting firm.

“With comprehensive monitoring capabilities for the broadest range of process types, out-of-the-box dashboards for in-depth analysis, and the ability to pull data from any back-end system, ABBYY enables us to transform processes in a manner that impacts the customer experience, operational efficiency, and the bottom line.”

According to Forrester’s Q1 2020 Global Digital Process Automation Survey, two-thirds of organizations stated they encountered broken processes when they shifted their workforce to remote work due to COVID-19, and now 60% are reconsidering their process strategy. As the pandemic disrupts business processes across every sector, they are seeking solutions to increase process efficiencies and enhance their profit margins. Process intelligence has become critical for the success of automation initiatives.

“It’s difficult for organizations to improve their operational efficiencies when they’re crippled by lack of insight and inability to monitor processes,” said Scott Opitz, Chief Marketing Officer at ABBYY and former President and Founder of TimelinePI.

In fiscal year 2019, ABBYY achieved double-digit revenue growth for the third consecutive year, driven in large part by the expansion of ABBYY’s product portfolio with ABBYY Timeline. ABBYY continues to invest aggressively in extending Timeline’s capabilities by extending its integration with ABBYY’s core content intelligence capabilities, new process and task analysis capabilities as well as deeper integration with leading third-party automation and data analytics partners.

For additional information about ABBYY Process Intelligence, visit https://www.abbyy.com/solutions/process-intelligence/.

To learn more about ABBYY’s full suite of Digital Intelligence solutions for the enterprise, visit https://www.abbyy.com/solutions/digital-intelligence/.