Acquisition strengthens ServiceNow’s process mining solutions, bolstering automation and AI capabilities to help customers uncover bottlenecks and drive operational efficiencies
ServiceNow, the leading digital workflow company making the world work better for everyone, announced it has signed an agreement to acquire task mining company UltimateSuite to enhance process mining and intelligent automation across the Now Platform. Through this acquisition, ServiceNow continues to bolster its automation and artificial intelligence (AI) capabilities to help customers identify process bottlenecks and drive stronger operational efficiencies.
According to a Gartner study, global process mining software revenue grew 46% in 2021 and is projected to grow to $2.3 billion by 2025 at a compound annual growth rate (CAGR) of 33% from 2020 through 2025. This growth underscores the importance of process mining for translating insights into action. As a core capability of the Now Platform, process mining helps customers better understand how work flows across people, tasks, and systems by acting like an X-ray across the business to identify and automate operational bottlenecks.
This acquisition is the latest step in enhancing ServiceNow’s powerful intelligent automation capabilities. UltimateSuite’s task mining technology provides actionable insights to streamline repetitive work and identify automation opportunities, a core piece of process mining. With predictive analysis and actionable prompts, UltimateSuite provides operational intelligence that enables customers to accelerate digital business transformation and enhance employee experiences.
Also Read: Findem Launches AI-Powered Copilot to Automate and Personalize Sourcing at Scale
“The Now Platform is the platform for digital business, and we are continually working to help customers remove guesswork and create more intuitive processes in the day-to-day flow of work,” said Eric Schroeder, vice president of NowX product management at ServiceNow. “Task mining is key to revealing a more accurate picture of how people work. With UltimateSuite, we are extending ServiceNow’s ability to help customers easily automate workflows and drive productivity.”
“We believe that automation, built with the power of our task mining technology, can help employees and businesses expand the potential of their creativity and productivity,” said Robert Samanek, CEO and Founder of UltimateSuite. “We are proud to join ServiceNow and integrate UltimateSuite into the Now Platform to drive actionable insights that identify opportunities to transform the way people work.”
UltimateSuite was founded in 2020 by Robert Samanek and is headquartered in Prague, Czech Republic. The company has been recognized by leading analyst firms, received industry recognition from Accenture’s Start-Up Accelerator, and was nominated to the Microsoft Founders Hub for demonstrating the innovative potential of its technology.
UltimateSuite follows acquisitions of G2K and Element AI as part of ServiceNow’s ongoing commitment to bringing impactful automation and AI-powered solutions to customers. ServiceNow expects to close the acquisition of UltimateSuite in Q12024. Financial terms of the deal were not disclosed.
SOURCE: BusinessWire
