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ABBYY

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ABBYY
Company typePrivate
FounderDavid Yang[1]
Number of employees
500 (2023) Edit this on Wikidata
Websiteabbyy.com

ABBYY is a US-based company that develops solutions in the fields of intelligent document processing,[2] data capture, process intelligence and optical character recognition (OCR).[3][4][5] The company serves clients worldwide.[6] One of ABBYY's best-known products is the ABBYY FineReader — an OCR application.[7]

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 USA (Milpitas, California), with regional offices in 15 countries.[15] As of May 2023, ABBYY Group employs over 1000 employees.[16]

ABBYY's CEO (since 2017) is Ulf Persson, who lives in London.[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. ^ "9 Tips To Manage Remote Teams - HR.com".
  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. ^ a b "Abbyy releases Vantage 2 and a new skills marketplace". SearchEnterpriseAI. Retrieved January 4, 2022.
  4. ^ "Marlin bets big on Abbyy's digital intelligence initiatives". VentureBeat. May 15, 2021. Retrieved January 4, 2022.
  5. ^ "How to inject Intelligent Document Processing into SAP RPA | IDM Magazine". idm.net.au. Retrieved January 4, 2022.
  6. ^ "ABBYY USA Software House Inc - Company Profile and News". Bloomberg Markets. Retrieved May 17, 2023.
  7. ^ a b Adrian Try (July 19, 2022). "ABBYY FineReader PDF Review: Is It Worth It in 2023?". Softwarehow. Retrieved May 17, 2023.
  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. ^ "History of Intelligent Automation and ABBYY Innovations (Infographic)" (PDF). ABBYY. 2023. Retrieved October 1, 2023.
  10. ^ "Вектор модернизации: обзор обновленного ABBYY FineReader 12". 3DNews - Daily Digital Digest (in Russian). Retrieved August 27, 2023.
  11. ^ "PwC and ABBYY to deliver digital intelligence solutions in India". www.consultancy.in. October 9, 2019. Retrieved January 12, 2022.
  12. ^ "Marlin bets big on Abbyy's digital intelligence initiatives". VentureBeat. May 15, 2021. Retrieved January 20, 2022.
  13. ^ "Marlin completes growth equity investment in ABBYY". Marlin Equity. May 19, 2021. Retrieved May 17, 2023.
  14. ^ "ABBYY is a US-based, privately-owned software company". ABBYY. Retrieved October 2, 2023.
  15. ^ "ABBYY Corporate Headquarters, Office Locations and Addresses". Craft.co. Retrieved May 17, 2023.
  16. ^ a b "ABBYY Timeline - Process Mining Software Comparison". Institute of Information Systems. May 12, 2020. Retrieved May 17, 2023.
  17. ^ "Ulf Persson, Abbyy USA Software House Inc: Profile and Biography". Bloomberg Markets. Retrieved May 17, 2023.
  18. ^ "Abbyy открыла сервис автоматической обработки документов для тех, кто не умеет программировать". CNews.ru (in Russian). Retrieved January 26, 2022.
  19. ^ "ABBYY's new no-code AI technology could be a gamechanger". healthcareglobal.com. March 28, 2021. Retrieved January 26, 2022.
  20. ^ "Abbyy releases Vantage 2 and a new skills marketplace". TechTarget. Retrieved May 8, 2023.
  21. ^ "Abbyy looks to RPA to breathe new life into scanning and workflow". TechCrunch. November 8, 2018. Retrieved January 26, 2022.
  22. ^ "ABBYY Proof of Identity simplifies document-centric digital onboarding". Help Net Security. October 12, 2022. Retrieved May 17, 2023.
  23. ^ Hainzinger, Brittany. "ABBYY updates machine learning library". App Developer Magazine. Retrieved January 26, 2022.
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