ABBYY

ABBYY

ABBYY

American digital intelligence company

ABBYY is an American (formerly Russian) technology company specializing in intelligent document processing,[2] data capture, process intelligence and optical character recognition (OCR).[3][4][5] Primarily focused on software as a service model, the company serves clients worldwide.[6] One of ABBYY's best-known products is the ABBYY FineReader — an OCR application.[7]

Quick Facts Company type, Founder ...

History

The history of ABBYY dates back to 1989, when David Yang founded BIT Software company in Moscow.[8] In the early 1990s, the company introduces optical character recognition (OCR) and since then kept investing in artificial intelligence (AI), natural language processing (NLP) and machine learning (ML).[9] In July 1993, the first version of the text recognition software ABBYY FineReader was released.[10]

ABBYY entered the professional translation market in 2007. It partners with AI, analytics, and RPA vendors UiPath, Blue Prism, Alteryx, PwC India, and others.[3][11] In 2019, ABBYY acquired TimelinePI, a process mining company, and Marlin Equity Partners became its biggest shareholder in 2021.[12][13]

In 2022, the company declared a complete exit from the Russian market: it stopped sales/provision of services in Russia and Belarus, relocated critical personnel, and filed for the liquidation of its Russian legal entities.[14]

Offices & management

The company is headquartered in the Milpitas, California, with regional offices in 15 countries.[15] As of May 2023, ABBYY Group employs over 1,000 employees worldwide.[16]

ABBYY's CEO is Ulf Persson.[17]

Company products

  • ABBYY FineReader, an application for documents and PDF files, based on ABBYY OCR technology.[7]
  • ABBYY Vantage, a platform for intelligent document processing (recognition, classification, and data retrieval) of documents.[18][19][20]
  • ABBYY FlexiCapture, a platform for intelligent document processing of information from documents. In 2019, natural language processing technologies were added to the solution.[21]
  • ABBYY Proof of Identity, a solution for instant recognition and verification of documents.[22]
  • ABBYY Timeline, a platform for business process analysis and task mining.[16]

Additional products include NeoML, a cross-platform open-source machine learning library.[23]

Notes

  1. [1]
    "9 Tips To Manage Remote Teams - HR.com".
  2. [2]
    "ABBYY, Kofax, WorkFusion, and Automation Anywhere are on the Top of Everest Group's PEAK Matrix® for IDP 2022". RPA Master. October 5, 2022. Retrieved April 27, 2023.
  3. [3]
    "Abbyy releases Vantage 2 and a new skills marketplace". SearchEnterpriseAI. Retrieved January 4, 2022.
  4. [4]
    "Marlin bets big on Abbyy's digital intelligence initiatives". VentureBeat. May 15, 2021. Retrieved January 4, 2022.
  5. [5]
    "How to inject Intelligent Document Processing into SAP RPA | IDM Magazine". idm.net.au. Retrieved January 4, 2022.
  6. [6]
    "ABBYY USA Software House Inc - Company Profile and News". Bloomberg Markets. Retrieved May 17, 2023.
  7. [7]
    Adrian Try (July 19, 2022). "ABBYY FineReader PDF Review: Is It Worth It in 2023?". Softwarehow. Retrieved May 17, 2023.
  8. [8]
    Blinnikova, Natalia (July 4, 2018). "ABBYY Founder David Yang on AI, Building a Business and the Meaning of Life". news.itmo.ru (in Russian). Retrieved August 27, 2023.
  9. [9]
    "History of Intelligent Automation and ABBYY Innovations (Infographic)" (PDF). ABBYY. 2023. Retrieved October 1, 2023.
  10. [10]
    "Вектор модернизации: обзор обновленного ABBYY FineReader 12". 3DNews - Daily Digital Digest (in Russian). Retrieved August 27, 2023.
  11. [11]
    "PwC and ABBYY to deliver digital intelligence solutions in India". www.consultancy.in. October 9, 2019. Retrieved January 12, 2022.
  12. [12]
    "Marlin bets big on Abbyy's digital intelligence initiatives". VentureBeat. May 15, 2021. Retrieved January 20, 2022.
  13. [13]
    "Marlin completes growth equity investment in ABBYY". Marlin Equity. May 19, 2021. Retrieved May 17, 2023.
  14. [14]
    "ABBYY is a US-based, privately-owned software company". ABBYY. Retrieved October 2, 2023.
  15. [15]
    "ABBYY Corporate Headquarters, Office Locations and Addresses". Craft.co. Retrieved May 17, 2023.
  16. [16]
    "ABBYY Timeline - Process Mining Software Comparison". Institute of Information Systems. May 12, 2020. Retrieved May 17, 2023.
  17. [17]
    "Ulf Persson, Abbyy USA Software House Inc: Profile and Biography". Bloomberg Markets. Retrieved May 17, 2023.
  18. [18]
    "Abbyy открыла сервис автоматической обработки документов для тех, кто не умеет программировать". CNews.ru (in Russian). Retrieved January 26, 2022.
  19. [19]
    "ABBYY's new no-code AI technology could be a gamechanger". healthcare-digital.com. March 28, 2021. Retrieved March 11, 2023.
  20. [20]
    "Abbyy releases Vantage 2 and a new skills marketplace". TechTarget. Retrieved May 8, 2023.
  21. [21]
    "Abbyy looks to RPA to breathe new life into scanning and workflow". TechCrunch. November 8, 2018. Retrieved March 11, 2023.
  22. [22]
    "ABBYY Proof of Identity simplifies document-centric digital onboarding". Help Net Security. October 12, 2022. Retrieved May 17, 2023.
  23. [23]
    Hainzinger, Brittany. "ABBYY updates machine learning library". App Developer Magazine. Retrieved January 26, 2022.
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