With the deal, IBM looks to offer organizations a suite of capabilities such as robotic process automation, document processing and process mining.
During the coronavirus pandemic, digital transformation and automation efforts have accelerated as organizations look to streamline workflows and reduce operational costs. On Thursday, IBM announced a definitive agreement to acquire Italy-based process mining software company, myInvenio.
“Digital transformation is accelerating across industries as companies face increasing challenges with managing critical IT systems and complex business applications that span the hybrid cloud landscape,” said Dinesh Nirmal, general manager, IBM Automation.
A one-stop-shop for automation
The move highlights IBM’s investments to provide an AI-enabled automation suite “one-stop shop” for organizations, the company said, with capabilities such as robotic process automation, document processing and process mining among others.
IBM said the acquisition will provide companies with “data-driven software” in areas such as sales, production and accounting and could help organizations identify processes for potential AI-enabled automation. Moreover, the acquisition “advances” IBM’s AI and hybrid cloud organization strategy and offers customers a suite of AI-enabled business automation capabilities, the release said.
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“With IBM’s planned acquisition of myInvenio, we are continuing to invest in building the industry’s most comprehensive suite of AI-powered automation capabilities for business automation so that our customers can help employees reclaim their time to focus on more strategic work,” Nirmal said.
By highlighting inefficiencies and identifying processes or bottlenecks that could “benefit from automation,” myInvenio’s tools help companies reduce operational costs and more, the company said.
The release outlines a number of specific software use-cases such as streamlining account receivable operations, understanding the amount of time employees spend “manually examining invoices and auditing purchase requests to find anomalies” as well as IT applications. For example, organizations could use “process mining to examine the most common IT requests and automate resolution.”
“Through IBM’s planned acquisition of myInvenio, we are revolutionizing the way companies manage their process operations,” said Massimiliano Delsante, CEO, myInvenio.
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“myInvenio’s unique capability to automatically analyze processes and create simulations—what we call a ‘Digital Twin of an Organization’—is joining with IBM’s AI-powered automation capabilities to better manage process execution,” Delsante said. “Together we will offer a comprehensive solution for digital process transformation and automation to help enterprises continuously transform insights into action.”
The planned acquisition of myInvenio builds on IBM’s OEM agreement with the software company, the release said, and IBM plans to have myInvenio’s capabilities integrated into its “automation portfolio” once the acquisition closes.
Terms of the deal were not released.