Abbyy has been around for a long time helping companies with scanning and workflow tools, but like many older vendors it has been looking for ways to extend its traditional business model. One way to do that is by teaming up with robotics process automation companies like UIPath. Today, the company announced it has launched the Abbyy FlexiCapture Connector in the UiPath Go! App store.
Bruce Orcutt, senior vice president for product marketing at Abbyy says the connector provides the ability to pull content into UIPath or to take Abbyy content and push it to another part of the automated workflow in UIPath.
UIPath is on a tear these days. Just two months ago, it scored a $225 million Series C investment on a $3 billion valuation. It was able to grow from $1 million to $100 million in annual recurring revenue in just 21 months. As I wrote at the time of the funding, “[UIPath] allows companies to bring a level of automation to legacy processes like accounts payable, employee onboarding, procurement and reconciliation without actually having to replace legacy systems.”
Orcutt sees a natural connection to his company’s workflow roots, bringing it into a more modern context. “RPA simplifies the user experience. Abbyy brings content and context,” he told TechCrunch. He says that while they are still doing OCR to scrape unstructured content, it can do this in fully automated digital process and UIPath can take that content and move it through other parts of an automated workflow.
For Abbyy, UIPath is a big partner, but it’s part of a broader strategy to expand the company’s capabilities to RPA. He says they are working with a variety of RPA vendors beyond UIPath and also with systems integrators as they look to breathe new life into the company’s brand and products.
Orcutt says this is part of significant focus and investment on the part of the company. RPA is clearly a natural fit for Abbyy, but he wasn’t willing to speculate on any deeper partnership. “We’re focusing on what we can do the best we can, and they can focus on merits of their platform. Abbyy can compliment those capabilities.”
By Ron Miller