IBM has inked a definitive agreement to acquire a process mining software company, myInvenio and is expected to help clients overhaul business precesses for innovation-led business outcomes.
The acquisition will provide organizations 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.
With this acquisition, IBM will be in a position to help companies overcome the challenge of streamlining business processes that are cumbersome or create bottlenecks, slowing down innovation and increasing costs.
Today’s news underscores IBM’s continued investment in providing organizations with a one-stop shop of AI-powered automation capabilities for business automation.
Business automation includes process mining, robotic process automation (RPA) through the recent acquisition of WDG Automation, document processing, workflow, and decisions.
All of these capabilities are tightly integrated with IBM Cloud Pak for Business Automation and powered by Red Hat OpenShift to run anywhere and help customers automate their entire enterprise.
Commenting on the new acquisition, 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 re-claim their time to focus on more strategic work,” said Dinesh Nirmal.
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.
Expressing happiness over joining hands with IBM, myInvenio CEO Massimiliano Delsante said through IBM’s planned acquisition of myInvenio, the company is revolutionizing the way companies manage their process operations.
“myInvenio’s unique capability to automatically analyse 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,” said Massimiliano Delsante.
Together, Massimiliano Delsante said the companies will offer a comprehensive solution for digital process transformation and automation to help enterprises continuously transform insights into action.
myInvenio capabilities reveal inefficiencies, bottlenecks and tasks that can benefit from automation, to help organisations significantly reduce their operating costs and improve customer service.
Simulations can be run to assess automation opportunities to measure the benefits of applying automation at the outset of the automation journey. By analyzing historical process execution data and desktop behavior, 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 transaction is subject to customary closing conditions. It is expected to close at the end of this quarter.