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ABBYY

From EverybodyWiki Bios & Wiki

ABBYY
Private
ISIN🆔
IndustryComputer software
Artificial intelligence
Digital transformation
RPA
Mobile software
NLP
Founded 📆
Founder 👔
Area served 🗺️
Key people
Founder: David Yang
CEO: Ulf Persson[1]
Products 📟 ABBYY Timeline
ABBYY FlexiCapture
ABBYY Vantage
ABBYY FineReader
ABBYY FineReader Engine
ABBYY Mobile Capture
ABBYY FineScanner
ABBYY Business Card Reader
ABBYY TextGraber
Members
Number of employees
1300 (as of 2020)
🌐 Websiteabbyy.com
📇 Address
📞 telephone

ABBYY is a multinational[1] software company that develops a Digital intelligence platform focused on content and process skills and understanding.[2]

Founded in 1989[1], ABBYY has offices in 13 countries including the United States, Germany, the UK, Japan, Australia, France, Cyprus, Hong Kong, Hungary, Russia, Spain, Taiwan, and Ukraine. The company has over 1,300 employees.[3]

History[edit]

ABBYY was founded in 1989 by Armenian-born entrepreneur David Yang[4], a university student at the time.

In 2019[5] and 2020[6], Everest Group recognized ABBYY as a leader in its Intelligent Document Processing (IDP) products PEAK Matrix, a comparative assessment among 16 vendors based on their market impact, vision and capabilities to deliver solutions to clients.

Business and Markets[edit]

ABBYY has been deployed by Fortune 500 companies in finance[7], insurance[8], transportation[9], healthcare[10]. Among ABBYY customers are infrastructure solutions company Costain[11] and healthcare manufacturer and distributor Medline[12].

Products[edit]

ABBYY FineReader, a PDF and OCR application for PC, was launched in 1993. The latest version, FineReader 15, was released in August 2019[13]. It has received an "Excellent" rating by PC Magazine[14]. ABBYY licenses FineReader’s OCR technology to several companies such as Fujitsu, Panasonic, Xerox, Samsung, and others[15].

Throughout the years, ABBYY has shifted its focus to the development of AI-enabled enterprise solutions[2]. In 2004, ABBYY released FlexiCapture, an intelligent document capture solution[16]. The latest version of ABBYY FlexiCapture came out in October 2019 and included improvements in accuracy, speed and ease of deployment[17].

In April 2017, ABBYY launched an instant text recognition SDK for mobile[18]. The technology enabled extraction of text from documents and objects placed in the live video stream from smartphone and mobile device cameras[19]. The mobile capture solution was later expanded to include Mobile Web Capture, a data capture tool for mobile websites[20].

In April 2019, the company released ABBYY Vantage, an AI skills platform for the digital workforce[21]. ABBYY Vantage integrates into intelligent automation platforms like Robotic process automation (RPA) and Business Process Automation (BPA) to add skills like OCR, document capture, machine learning[22].

In 2019, ABBYY acquired TimelinePI[23][24], a Philadelphia, PA-based developer of a process mining platform designed to track, analyze and predict business processes[25]. After the acquisition, ABBYY has combined its document capture and process mining solutions into a Digital Intelligence Platform to analyze both business processes and the content that fuels them[2].

Robotic Process Automation[edit]

ABBYY currently has a network of RPA partnerships[26] including UiPath[27], Blue Prism[28], and NICE Ltd.[29].

Patents[edit]

As of 2019, ABBYY has over 400 patents and patent applications internationally[30][31].

References[edit]

  1. ↑ 1.0 1.1 1.2 Peter J. Williamson, Ravi Ramamurti, Afonso Fleury, Maria Tereza Leme Fleury (2013). The Competitive Advantage of Emerging Market Multinationals. The Edinburgh Building, Cambridge CB2 8RU, UK: Cambridge University Press. p. 41. ISBN 978-1-107-03255-2.CS1 maint: Multiple names: authors list (link) Search this book on
  2. ↑ 2.0 2.1 2.2 Bridgwater, Adrian (25 October 2019). "The Journey From Paper, To Digital Process Intelligence". forbes.com. Retrieved 26 June 2020.
  3. ↑ Butcher, Mike (21 November 2016). "AI-driven Findo secures $7M to be your human-like smart search assistant". techcrunch.com. Retrieved 26 June 2020.
  4. ↑ "Entrepreneur David Yang makes a bold predictions for the future of AI". bizjournals.com. 8 November 2019. Retrieved 26 June 2020.
  5. ↑ "Intelligent Document Processing (IDP) – Technology Vendor Landscape with Products PEAK Matrix™ Assessment 2019". 25 March 2019. Retrieved 26 June 2020.
  6. ↑ "Intelligent Document Processing (IDP) – Technology Vendor Landscape with Products PEAK Matrix® Assessment 2020". 27 March 2020. Retrieved 26 June 2020.
  7. ↑ Orcutt, Bruce (17 July 2019). "BankThink Why mobile onboarding is such a turnoff". americanbanker.com. Retrieved 26 Jun 2020.
  8. ↑ Raiker, Ryan (21 November 2019). "Process Intelligence in Insurance to Make Better Decisions". iireporter.com. Retrieved 26 Jun 2020.
  9. ↑ Paul, Goodenough (6 September 2019). "Digital workers: the key to unlocking fully-optimised logistics". itsupplychain.com. Retrieved 26 Jun 2020.
  10. ↑ Opitz, Scott (18 November 2019). "The Key to Solving Patient Throughput Efficiency: Process Visibility". strategichcmarketing.com. Retrieved 26 Jun 2020.
  11. ↑ "ABBYY technology selected to drive finance digitisation at Costain". financederivative.com. Retrieved 26 Jun 2020.
  12. ↑ Labbe, Mark (14 November 2019). "Medline streamlines workflow by automating accounts payable". searchenterpriseai.techtarget.com. Retrieved 26 Jun 2020.
  13. ↑ "FineReader 15 unlocks new PDF editing and comparison capabilities". 6 September 2019. Retrieved 26 Jun 2020.
  14. ↑ Mendelson, Edward (6 February 2020). "ABBYY FineReader Review". pcmag.com. Retrieved 26 Jun 2020.
  15. ↑ Radyuhin, Vladimir (8 October 2016). "IT opportunities & challenges in Russia". The Hindu. Retrieved 26 Jun 2020.
  16. ↑ Patience, Nick (21 March 2016). "ABBYY aims to ride the wave in text analytics and machine learning with Compreno" (PDF). idm.net.au. Retrieved 26 Jun 2020.
  17. ↑ "ABBYY enhances document processing platform with machine learning". kmworld.com. 9 October 2019. Retrieved 26 Jun 2020.
  18. ↑ Rogers, Stewart (27 November 2017). "ABBYY launches AI-powered real-time recognition SDK that speaks 63 languages". venturebeat.com. Retrieved 26 Jun 2020.
  19. ↑ Bridgwater, Adrian (19 April 2017). "Abbyy Builds Instant 'Text Capture' Recognition Tool For Mobile". forbes.com. Retrieved 26 Jun 2020.
  20. ↑ Sawers, Paul (21 June 2019). "Abbyy's data capture SDK uses AI to onboard customers through mobile websites". venturebeat.com. Retrieved 26 Jun 2020.
  21. ↑ Labbe, Mark (2 April 2019). "Abbyy Vantage eyes easy AI infusion in content automation". searchenterpriseai.techtarget.com. Retrieved 26 Jun 2020.
  22. ↑ Bridgwater, Adrian (12 September 2019). "RPA series: ABBYY - RPA shortcomings in automating content-centric processes". computerweekly.com. Retrieved 26 Jun 2020.
  23. ↑ "TimelinePI". crunchbase.com. Retrieved 26 Jun 2020.
  24. ↑ Labbe, Mark (20 May 2019). "Abbyy TimelinePI acquisition boosts process intelligence". searchenterpriseai.techtarget.com. Retrieved 26 Jun 2020.
  25. ↑ Bridgwater, Adrian (25 October 2019). "Abbyy Timeline: digging into process intelligence". computerweekly.com. Retrieved 26 Jun 2020.
  26. ↑ Bridgwater, Adrian (7 October 2019). "Why Partners Partner: 7-Reasons IT Organizations Collaborate". forbes.com. Retrieved 26 Jun 2020.
  27. ↑ Miller, Ron (8 November 2018). "ABBYY looks to RPA to breathe new life into scanning and workflow". techcrunch.com. Retrieved 26 Jun 2020.
  28. ↑ "Blue Prism and ABBYY Partner to Integrate Intelligent Optical Character Recognition (OCR) Capabilities with Enterprise-Grade Robotic Process Automation (RPA)". blueprism.com. 19 September 2018. Retrieved 26 Jun 2020.
  29. ↑ "NICE Robotic Automation Expands Partnership with ABBYY, Offering the Most Comprehensive End to End Digitization of Business Processes". nice.com. 4 March 2019. Retrieved 26 Jun 2020.
  30. ↑ "ABBYY DEVELOPMENT LLC". Retrieved 26 Jun 2020.
  31. ↑ "ABBYY PRODUCTION LLC". Retrieved 26 Jun 2020.

External links[edit]


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