2/20/2018 3:03:25 PM
ABBYY text scanning software reports revenue growth in 2017
Enterprise Automation,AI Automation,Business Process Automation
https://appdevelopermagazine.com/images/news_images/ABBYY-Reports-25-Revenue-Growth-in-2017-App-Developer-Magazine_xum0tnw3.jpg
App Developer Magazine

ABBYY text scanning software reports revenue growth in 2017



Richard Harris Richard Harris in Artificial Intelligence Tuesday, February 20, 2018
22,462

Enterprise automation and digital transformation technologies company announces 25 percent YOY growth.

ABBYY has announced the results of 2017. The company achieved a total revenue growth of 25%, the highest rate in five years. Throughout 2017, ABBYY completed a number of large-scale projects for its corporate clients in the United States, Europe, Australia, and other countries around the world. Licensing technologies to partners like Fujitsu, Epson, Hewlett Packard Enterprise, RICOH, and Xerox also remained a significant revenue source for the company.

ABBYY’s growth goes hand in hand with the expanding digital transformation, artificial intelligence (AI) and robotic process automation (RPA) markets. International Data Corporation (IDC) forecasts worldwide spending on digital transformation technologies to reach $1.3 trillion in 2018 and maintain a strong pace of growth over the next five years. Gartner sees AI as the most disruptive class of technologies that will give an unprecedented competitive edge to businesses over the next 10 years. According to Forrester, the AI market will increase tenfold to reach $29 billion by 2020, while the RPA market will double to $2.4 billion. McKinsey predicts that by 2036 close to 50% of business processes will be automated.

“Businesses understand to survive in today’s markets, where customers have the expectation of now, they need to change. ABBYY’s AI-based intelligent capture platforms and solutions help them go through digital transformation and robotic process automation as effortlessly as possible. This is why we see a growing interest in our product portfolio,” comments Ulf Persson, ABBYY CEO. “Enterprise clients use our technologies to accelerate the onboarding and decision-making processes, manage risks and extract meaningful insights from large amounts of unstructured data.”

In 2017, ABBYY went through a series of organizational changes. Ulf Persson became the CEO in January 2017, after serving as a member and the Chairman of ABBYY’s Board since 2002. As CEO, he created a new global management structure, which by the end of 2017 integrated all 16 offices in 13 countries. Several new functions were created, and a Chief Innovation Officer was recruited. The new model serves the needs of the company’s business across the globe, helps to maintain a unified brand and reinforces its focus on providing innovations in content intelligence for the digital transformation market.

A new way to manage your development projects

Learn the best ways to organize your app development projects, and keep code straight, clients happy, and breathe a easier through launches.
 

The value through crowdsourcing

Bridging the silos of crowdsourcing research to build better solutions, faster.

The Latest Nerd Ranch Guide (3rd Edition) to Android Programming

Write and run code every step of the way, using Android Studio to create apps that integrate with other apps, download and display pictures from the web, play sounds, and more. Each chapter and app has been designed and tested to provide the knowledge and experience you need to get started in Android development.

Starting your own app business?

How to create a profitable, sustainable business developing and marketing mobile apps.



Comments

There are no comments yet, be the first to leave your remarks.

Leave a Reply