Industry partnerships drive annual growth at AI data firm ABBYY
Services and software around artificial intelligence and robotics are seeing big industry growth so ABBYY seems to be in a sweet spot.
Partnerships and integration revenue has gone up over 200% at artificial intelligence and robotic process automation (RPA) software firm ABBYY, contributing to a third year of total double-digit growth at the company.
While not revealing actual figures, the privately-owned firm said 2019 saw “notable growth” from RPA integrations and strategic partnerships. Total annual company revenue derived from RPA partnerships, integrations and vendor licensing was up 210%, it said.
ABBYY currently has over 50 RPA delivery partners, with customer adoption rising at several of them. ABBYY is partnered with leading RPA vendors including UiPath, Blue Prism and NICE, and has key RPA solution delivery partners such as Robiquity and Sprint Reply.
An additional growth driver was last year’s acquisition of TimelinePI, now ABBYY Timeline, an end-to-end “process intelligence” platform merged with the company’s “content intelligence” abilities. ABBYY’s suite of products enable customers to leverage both to obtain an accurate and complete understanding of how their business processes operate and the content that fuels them.
The company also said it had strengthened its strategic partnerships and integrations with the leading global consulting firms. Currently, it says, a third of Fortune 500 companies use one or more ABBYY solutions.
Neil Murphy, ABBYY global vice president, said: “These partnerships mean our solutions are reaching more businesses than ever before, and are at the forefront of making digital transformation a success. With our RPA partnerships expanding rapidly, this success is set to continue as the digital transformation market grows.”
Ulf Persson (pictured above), CEO of ABBYY, added: “We are all adjusting to a new normal as businesses and people worldwide take extreme measures to control the spread of Covid-19. At the same time, we understand the importance of helping customers maintain business continuity and productivity.
“Rest assured that ABBYY’s tech support, account managers and everyone in between is available to provide the same level of support as always.”
The company has around a dozen offices globally, including in Russia, Ukraine, France, Germany and the UK, as well as in the US, Japan and Hong Kong (which opened recently).
Earlier this month, it appointed Markus Pichler as vice-president of sales for Europe, who has “ambitious targets in Western and Eastern Europe”, the firm said.