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SOURCE Kryon Systems
Kryon Systems will combine ABBYY's AI-powered document automation technology with its Robotic Process Automation solutions to enable streamlined invoice and purchase order processing
TEL AVIV, Israel, Dec. 12, 2017 /PRNewswire/ -- Today, Kryon Systems, a global provider of intelligent Robotic Process Automation (RPA) solutions, announced the integration of ABBYY's FlexiCapture solution into Kryon Systems' Leo RPA platform in order to provide a single platform for document automation.
This integration will offer businesses best-in-class RPA services that include the ability to parse unstructured data for invoice and purchase order processing.
Digital transformation is leading companies to turn to automation technologies in order to reduce errors, increase efficiency and boost profits across the enterprise. Kryon Systems' RPA solution provides a workforce of "digital employees" onto whom crucial yet repetitive and time-consuming processes can be offloaded, enabling employees to devote more attention to higher value tasks that more directly contribute to the core mission of the company. Traditionally, unstructured documents such as invoices and purchase orders, which lack standardized formats and are submitted as PDFs or scanned documents that cannot be edited, have posed an obstacle to automation efforts. By leveraging ABBYY, whose market-leading AI-powered document automation technology transforms unstructured documents into standardized files and alerts the relevant party when it is unable to do so, Kryon Systems is removing the hurdle which previously prevented the automation of these processes.
"The needs of enterprises are evolving all the time, and we are constantly expanding the capabilities of our RPA platform to ensure that we provide a one-stop-shop automation solution for companies, no matter what processes they are seeking to optimize," said Harel Tayeb, CEO of Kryon Systems. "Our new partnership with ABBYY allows us to help companies transcend the problem that unstructured invoices and purchase order forms cause by simply removing a substantial amount of time-consuming tasks from their employees' workloads so they can focus on higher value assignments."
"We are delighted to be able to complement Kryon RPA with our FlexiCapture platform and extend the automation capabilities of Kryon into document-based business processes. Together, we look forward to helping clients address a full range of business process automation projects, from simple data entry, to more complex case automation," said Bruce Orcutt, SVP for Product Marketing at ABBYY.
ABBYY's FlexiCapture platform is unique in being able to handle documents of any format, layout and structure thanks to its in-built, proprietary machine learning and natural language processing technology.
Invoices, which vary by supplier, are automatically read and processed, providing all necessary data to Kryon Systems' Leo platform to execute the remainder of the process – checking and approval procedures, and posting to ERP systems for payment. Used in combination, both platforms automate and streamline document processes, driving operational efficiencies, reducing unnecessary costs and freeing up staff to focus on value-adding financial activities.
About Kryon Systems
Kryon Systems delivers innovative, intelligent Robotic Process Automation (RPA) solutions empowering companies to transcend the processes which consume their most valuable resource - time. While other RPA vendors provide tools that focus solely on automating repetitive process-oriented tasks, Kryon aims for a complete and lasting solution, ultimately removing these tasks entirely from the day-to-day workflow of enterprises. Using patented visual and deep learning technologies, Kryon's RPA enables companies to discover the innovators and creators amongst them by reducing the noise, complexity, errors and wasted time which go hand in hand with process execution. Kryon's intelligent RPA is changing the reality of today's process-focused business world by offloading the repetitive, soul-crushing processes to a digital workforce not only for the increased productivity, reduced error rates, and lower operating costs, but also so that companies can focus on what they want to be - creative, imaginative, revolutionary, and with greater revenue. Learn more about Kryon Systems and the numerous Fortune 500 organizations already benefiting from its products at www.kryonsystems.com.
ABBYY is a global leader in intelligent capture driving innovation in the areas of meaningful insights, data, and relationships to improve business outcomes. ABBYY offers a complete range of AI-based technologies and solutions transforming business documents and content into business value. By providing digital transformation solutions to financial services, insurance, transportation, healthcare and other industries, the company helps organizations achieve the next wave of growth by understanding customers and delivering responsive real-time intelligent systems. The flexibility of ABBYY AI solutions enables customers to utilize a diverse range of advanced technologies, platforms and solutions for classification, text analytics, data and entity extraction, and data validation via any communication channel and in any format. ABBYY technologies are used and licensed by some of the largest international enterprises and government organizations, as well as SMBs and individuals. The company maintains offices in Australia, Canada, Cyprus, France, Germany, Japan, Russia, Spain, Taiwan, UAE, the UK, Ukraine, and the United States. For more information, please visit www.abbyy.com/company.
ABBYY and the ABBYY Logo are either registered trademarks or trademarks of ABBYY Software Ltd. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective owners and are hereby recognized.
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