IT giant IBM has acquired myInvenio, an Italian startup that builds and operates process mining software. myInvenio provides customers with a comprehensive AI-powered automation portfolio for business automation – including process mining, robotic process automation (RPA), document processing, workflow, and decisions – all built on Red Hat OpenShift.
Process mining software can help organizations easily capture information from enterprise transaction systems and provides detailed — and data-driven — information about how key processes are performing.
With the acquisition of myInvenio, IBM will help companies overcome the challenge of streamlining business processes that are cumbersome or create bottlenecks, slowing down innovation and increasing costs.
“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.
myInvenio capabilities reveal inefficiencies, bottlenecks and tasks that can benefit from automation, to help organizations 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 behaviour, myInvenio technology can help determine where to apply RPA bots, automated decisions, AI models, and other automation to have the most impact on a business.
“Through IBM’s planned acquisition of myInvenio, we are revolutionizing the way companies manage their process operations,” said Massimiliano Delsante, CEO, myInvenio.
“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.”
Using myInvenio’s process mining capabilities together with IBM AI-powered automation, an organization can streamline their accounts receivable process by looking at interactions with ERP and invoicing systems.