MILPITAS, Calif.--(BUSINESS WIRE)--ABBYY, a leader in Digital IQ for the enterprise, today announced it has been engaged in numerous joint projects worldwide that leverage its content intelligence capabilities with UiPath’s robotic process automation (RPA) platform to make digital workers smarter. ABBYY will demonstrate the power of digital IQ skills with UiPath Robots at FORWARD III this week in Las Vegas, the largest global gathering of RPA practitioners.
“Leveraging AI and Machine Learning technology to enable highly skilled RPA robots is a key strategy for UiPath. ABBYY is a strategic partner to UiPath, providing innovative technologies that enable enhanced robot skills in content intelligence,” said Dhruv Asher, SVP of Alliances and Business Development from UiPath. “By combining ABBYY offerings with our platform, we deliver integrated capabilities that turn content into information and information into intelligent insights and actions, delivering significant value to our customers and partners.”
The joint customers are represented in several industries worldwide, including Medline Industries, Costain and RACQ. The ABBYY FlexiCapture Connector is currently available in the UiPath Go! Marketplace where developers can easily add content IQ skills to the UiPath RPA platform. Additionally, ABBYY Vantage is available to UiPath customers. Vantage is built for the citizen developer helping organizations accelerate their digital transformation by delivering advanced content IQ skills to perform like humans.
“Our accounts payable department was bursting at the seams keeping up with the increased invoice volume and rising costs associated with manual offshore processing,” stated Sarah Stokes, Director of Finance and Accounts Payable, Medline Industries, the largest privately held manufacturer and distributor of medical supplies in the US. “By integrating UiPath and ABBYY solutions, we took the reins of our invoice processing transformation strategy and obtained significant results in productivity and cost efficiencies.”
“With circa 150,000 insurance claims to process annually, our processes were burdened with poor digitization quality, manual data entry and human errors,” said Greg Booker, Group CIO at RACQ, one of Australia’s largest insurance companies. “By working closely with our partner Blackbook.AI, we integrated UiPath RPA with ABBYY content intelligence solutions and achieved significant improvements across the entire process – from claim setup to invoice clarity. Using a combination of ABBYY and UiPath RPA contributed to a productivity benefit of over 5,000 hours within the claims processing during FY19, and is forecasted to increase in FY20.”
IDC research firm forecasts the intelligent process automation market, a group of technologies including content intelligence, will grow to $20.7 billion by 2023, and estimates the RPA market to grow to $3.9 billion by 2023. RPA and intelligent process automation are cornerstones to organizations achieving a comprehensive digital IQ strategy. ABBYY describes digital IQ as the skills the digital workforce needs to understand enterprise content and processes. Content IQ and the ability to have visibility into processes are the two components of Digital IQ.
“ABBYY has been instrumental in helping digital workers and intelligent process automation platforms become smarter using a new class of AI technologies that fuel digital workers and a company’s greatest asset – its content,” stated Bruce Orcutt, SVP of Product Marketing at ABBYY. “Digital IQ is important because companies are finally able to make more intelligent business decisions faster based on data, not opinion or bias. It has also become a valued asset to RPA vendors that recognize the need beyond simple digitization.”
UiPath’s RPA solution is used by more than 5,000 customers worldwide, including eight of the top 10 Fortune 500. The company was also recently named third on the Forbes’ 2019 Cloud 100 list.
To see UiPath and ABBYY solutions in action at Forward III, visit ABBYY at kiosk 8. ABBYY is also hosting a roundtable with Medline and other customers at 12:35 p.m. in the Grand Ballroom at the Bellagio October 16 titled, “Turning Automation Potential into Real Business Outcomes – Discover, Automate, Monitor and Repeat.”
To learn more about Medline’s success using content IQ skills in its invoice processing, visit The Content IQ Summit Nashville October 24-25 to hear Stokes share the case study.
About ABBYY
ABBYY is a global leader in Digital IQ for the enterprise. We create a new class of AI technologies that provide digital workforce the skills to understand enterprise content and processes. Our technologies are used by thousands of enterprises in finance, insurance, transportation, healthcare and other industries, helping organizations make intelligent business decisions. ABBYY has offices in 13 countries around the world, including Australia, Cyprus, France, Germany, Hong Kong, Hungary, 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.