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K2 and ABBYY agree to strategic cooperation
The objective of this partnership is to integrate ABBYY's capture solutions with K2 software for BPM and Case Management. Through the cooperation, ABBYY gains a strategic partner who operates in the international market for business process automation solutions. Both companies plan on offering joint, document-based solutions for capture-led business processes.
ABBYY's solutions for document capture and the intelligent extraction of data in enterprises are a natural extension of document-driven business processes carried out through K2's BPM software. Paper-based information needed for transaction-driven business processes can be extracted using ABBYY's capture platforms and integrated with the BPM system, where it can be utilized for further processing.
The ABBYY capture platform FlexiCapture will be integrated into solutions built with K2 blackpearl and K2 blackpoint software, and the partnership will also offer joint solution packages for optimizing core business processes, such as accounts payable, contract management and human resources.
"Our solutions have gained a lot of recognition - particularly our innovations in the field of process automation in SharePoint," said Ruan Scott, Managing Director at K2 Northern Europe GmbH. "ABBYY's expertise in the areas of document capture and intelligent data extraction complement K2's BPM platform and enable us to jointly offer added value to our customers. The efficient handling of documents is at the core of each workflow or BPM solution, and thanks to ABBYY, we are now able to offer to customers an even more comprehensive service."
By merging ABBYY's capture platform with K2's workflow and BPM offerings customers benefit from an integrated solution that covers the whole process, from capturing information to the successful execution of workflows.
Not only do the solutions automatically extract data but they also transfer metadata and full text images to a multitude of business applications. Document information is therefore immediately integrated into key business processes.
This leads to a sustainable cost savings and enables a faster return on investment. Invoice processing, for example, is one area where companies can achieve significant cost savings through process automation. Data can be automatically extracted from scanned invoices and then fed to an approval workflow process. Invoices that are approved by accounts payable can then be automatically entered into an ERP system.
"To enable powerful and efficient information processing from paper-based or digital documents is one area we focus heavily on," said Jupp Stoepetie, CEO & President of ABBYY Europe GmbH. "We are thrilled that in K2 we have a partner who possesses the most strategically and technologically advanced workflow and BPM software on the market, and moreover has positioned themselves as a leader within the Microsoft SharePoint eco-system."
Solutions from both companies will be on display at CeBIT 2012. ABBYY and K2 look forward to welcoming partners and customers at stand F16 in Hall3.
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