IBM to acquire myInvenio to help Organisations Use AI-powered Automation

By OEM Update Editorial April 17, 2021 10:51 am IST

Addition of myInvenio provides customers with a comprehensive AI-powered automation portfolio for business automation.

IBM recently announced a definitive agreement to acquire myInvenio, a process mining Software Company based in Reggio Emilia, Italy. The acquisition will provide organisations with data-driven software that should help them identify the most impactful business processes to automate using AI including sales, procurement, production and accounting. It also further advances IBM’s hybrid cloud and AI strategy, providing customers with a comprehensive suite of AI-powered automation capabilities for business automation. Financial details were not disclosed.

“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. “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 re-claim their time to focus on more strategic work.”

IBM’s acquisition of myInvenio builds on its OEM agreement with the company. Upon close of the acquisition, IBM has plans to integrate myInvenio’s capabilities into its Automation portfolio, including IBM Cloud Pak for Business Automation, IBM’s hybrid cloud software for using AI to transform business processes and help enable people to be more productive.

By analysing historical process execution data and desktop behaviour, myInvenio technology can help determine where to apply RPA bots, automated decisions, AI models, and other automations to have the most impact on a business. myInvenio’s capabilities could also be available to IBM business partners and IBM Global Business Services Automation practice to assist customers to generate insights about their business processes that could help lead to a clear data-driven roadmap for applying automation effectively.

The process mining software enables them to understand if employees spend a lot of time manually examining invoices and auditing purchase requests to find anomalies – two processes where AI-powered automation can help to boost efficiency and cut costs, while freeing employees to do more strategic work. Another example involves IT ticketing systems. Companies can use process mining to examine the most common IT requests and automate resolution.

For more info, visit: https://www.ibm.com/