By acquiring myInvenio, the company expects to provide a comprehensive AI-powered automation portfolio for its customers for business automation
IBM announces acquisition of myInvenio. (Credit: Bjoertvedt/Wikimedia Commons)
IBM has agreed to acquire Italian process mining software company myInvenio for an undisclosed price.
The company said that the acquisition will help it offer data-driven software to organisations to enable them in identifying the most effective business processes for automation using artificial intelligence (AI).
Furthermore, the transaction is said to advance IBM’s hybrid cloud and AI strategy by giving a complete suite of AI-powered automation capabilities to customers for business automation.
Through myInvenio, IBM also expects to help firms address the challenge of optimising business processes that cannot be managed easily or create bottlenecks.
IBM automation general manager Dinesh Nirmal said: “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.
“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.”
Post-acquisition, IBM will look to integrate myInvenio’s capabilities into its automation portfolio.
The capabilities of myInvenio are said to identify inefficiencies, tasks, and bottlenecks that can benefit from automation, thereby helping organisations in cutting down their operating costs.
The company’s capabilities may also be available to IBM business partners and IBM Global Business Services Automation practice for helping customers to generate insights regarding their business processes. The insights can help the customers get a clear data-driven roadmap for the effective application of automation, said IBM.
To achieve the most impact on a business, myInvenio’s technology enables analysis of historical process execution data, and desktop behaviour for determining where to apply automated decisions, AI models, robotic process automation (RPA) bots, and other automations.
The combination of myInvenio’s process mining capabilities and IBM’s AI-powered automation is said to help organisations optimise their accounts receivable process by checking interactions with ERP and invoicing systems.
myInvenio CEO Massimiliano Delsante said: “Through IBM’s planned acquisition of myInvenio, we are revolutionising the way companies manage their process operations.
“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. Together we will offer a comprehensive solution for digital process transformation and automation to help enterprises continuously transform insights into action.”
Subject to customary closing conditions, the deal is anticipated to be completed at the end of the current quarter.
Earlier this year, IBM acquired 7Summits in a move to drive digital transformations for Salesforce clients.