IBM acquires myInvenio to add business process automation tools, analytics

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IBM said it will acquire process mining company myInvenio as it aims to automate more business processes.

Terms of the deal weren't disclosed. IBM and myInvenio, based in Reggio Emilia, Italy, launched a partnership in November.

According to IBM, myInvenio can use its platform to find the best business processes to automate with AI. Those processes span sales, procurement, production and accounting.

IBM has built out its automation portfolio for its hybrid cloud and AI unit. For instance, IBM recently acquired WDG Automation, a robotic process automation company. The acquired technology from myInvenio will integrated with IBM Cloud Pak for Business Automation, which runs on Red Hat OpenShift.

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MyInvenio's platform aims to analyze processes and create simulations based on current and historical data to spot what can be automated. MyInvenio's recommends where to apply RPA bots, automated decisions and AI models.

With IBM, myInvenio's recommendations can be linked to automation tools. The returns on myInvenio revolve around lower operating costs, customer service gains and more efficient operations. IBM will also leverage the technology within its services units.

MyInvenio charges by the process and per event. The product portfolio includes myInvenio Process Analyst, Process Insights, Task Mining and Process Store.

The companies said the purchase will close by the end of the second quarter.