ABBYY

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]

ABBYY
TypePrivate
FounderDavid Yang[1]
Number of employees
1,000 (2023) Edit this on Wikidata
Websiteabbyy.com

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. "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. 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. "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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