IBM Buys myInvenio
April 15, 2021
singed a definitive agreement to acquire myInvenio, a process mining
software company based in Reggio Emilia, Italy. 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 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.
Today's news underscores IBM's continued investment in providing
organizations with a one-stop shop of AI-powered automation
capabilities for business automation, including 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.
"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."
"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."
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 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.
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
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. 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.
The transaction is subject to customary closing conditions. It is
expected to close at the end of this quarter.