IBM to Obtain myInvenio to Help Businesses Leverage AI-powered Automation to Improve Business Performance.

IBM intends to incorporate myInvenio's applications to change the business procedures and assist people to be more efficient, once the deal closes

IBM announced a conclusive agreement to obtain myInvenio on April 15, 2021. It is a Reggio Emilia, Italy-based process mining software company. The deal will give businesses access to data-driven tools that will assist them recognize the most important business processes to automate with AI, such as sales, purchasing, development, and accounting. It also enhances IBM's hybrid cloud and AI strategy, giving customers access to a robust set of AI-powered business automation capabilities.

With the purchase of myInvenio, IBM will be able to assist businesses in standardizing complicated or bottlenecked business processes that are limiting development and rising costs.

IBM's purchase of myInvenio builds on the company's OEM agreement.  IBM intends to incorporate myInvenio's applications into its Automation portfolio, namely IBM Cloud Pak for Business Automation, IBM's hybrid cloud software for using AI to change the business procedures and assist people be more efficient, once the deal closes.

Features of myInvenio expose shortfalls, inefficiencies, and processes that could be automated, allowing businesses to minimize operational costs and enhance customer service. Simulation model may be used to evaluate automation capabilities and determine the advantages of implementing automation early on in the process. myInvenio technology can help decide where to deploy RPA bots, automated decisions, AI models, and other automation systems to have the greatest effect on a company by analyzing historical process execution data and desktop behavior.

An enterprise can simplify their accounts receivable procedure by looking at interactions with ERP and invoicing systems using myInvenio's process mining capabilities combined with IBM AI-powered automation. They will use the process mining tools to figure out whether workers waste a lot of time manually reviewing invoices and auditing procurement requests for irregularities: two processes where AI-powered automation will help improve productivity and reduce costs while allowing employees to focus on more strategic tasks. IT ticketing systems are another example. Process mining can be used to analyze the most popular IT requests and automate their resolution.