ABBYY Unveils Two Products to Enable Next Generation Smart Business Applications

MILPITAS, Calif., Feb. 10, 2016 /PRNewswire/ -- ABBYY®, a leading provider of technologies and solutions to action information, today announced two new language-based products enabling businesses to understand and act on complex, unstructured information. Based on the newly announced Compreno technology comprehensive natural-language processing (NLP) technology, ABBYY InfoExtractor SDK and ABBYY Smart Classifier enable development of next generation smart business process applications, accelerating business decisions and insights for industries, including oil and gas, insurance, healthcare, financial services and government, among others.

"Companies have been left in the dark for far too long, unable to harness the full power of their data. This isn't due to a lack for trying, it's because they've lacked the capability to extract the facts and story lines embedded in unstructured information," said David Bayer, vice president, Compreno Suite, ABBYY. "ABBYY InfoExtractor SDK and ABBYY Smart Classifier take data analysis to an entirely new level, allowing companies to take advantage of the critical facts and story lines that are, literally, right in front of their eyes. They can now harvest the true value of their information while reducing manual efforts, streamlining processes and making more informed decisions based on a deeper, context-based understanding of the data."

"Many of our customers are facing shrinking margins due to global and environmental factors, making it critical that they identify and exploit every process improvement and efficiency possible," said Nick Vandivere, president at Agile Upstream, a value added reseller that equips the upstream oil and gas industry with software and services. "ABBYY's Compreno-based products allow us to deliver greater value by helping customers derive deeper understanding from complex documents without it being a manually intensive endeavor, arriving at critical decisions and realizations more quickly and ensuring maximum ROI."

Initiating a new generation of smart business process applications and language-based analytic solutions, ABBYY InfoExtractor is a powerful Software Development Kit (SDK) that enables enterprises as well as software developers to automatically identify and extract entities and relationships from complex text documents. It uses facts and events to reconstruct story lines in documents, providing insights that can directly impact business decisions and outcomes for professionals such as oil and gas land managers, patient care providers, or financial services risk managers. ABBYY InfoExtractor creates operational efficiency by automating the processing of complex, business-critical documents, and delivers strategic advantage by providing information transparency to reduce risk and optimize case/asset management. ABBYY InfoExtractor's NLP is designed to be enhanced with domain-specific ontologies to accurately extract complicated or industry-specific terms, clauses and facts. ABBYY InfoExtractor supports a wide variety of formats including Microsoft Word and XML, PDF, Tiff, JPEG and other graphic formats enabling businesses to work within established workflows.

ABBYY Smart Classifier is a powerful, intuitive classification application module that enables enterprises and software developers to overcome implementation and usage complexities that have hindered widespread adoption of classification technology, causing it to remain more of an art form than a trusted, easy-to-deploy capability. ABBYY Smart Classifier combines robust text- and semantic-based classification algorithms, an intuitive, graphical Model Editor interface, and automatic optimization algorithms to make classification dependable for information governance, email and content management, data migration and other critical processes. The Model Editor workflow interface allows IT and line-of-business users to easily create, evaluate and refine taxonomies and classification models, and adapts to organizations' unique needs by providing the most accurate categorizations possible. With simple REST APIs and support for 39 languages, including English, ABBYY Smart Classifier delivers highly accurate classification to mitigate risk, ensure defensible retention policies and organize large repositories to enhance information retrieval in global organizations.

"KnowledgeLake's clients have realized great business value from traditional capture technology when deployed with solutions on SharePoint, providing key access to their data and information.  However, a tremendous amount of value remains locked in their unstructured information. What is missing is an efficient way for identifying and activating it without significantly taxing resources," said Steven Hovis, Vice President of Corporate Strategy at KnowledgeLake, A Fujitsu Company. "ABBYY's new extraction and classification products, based on Compreno technology, will allow us to make our intelligent ECM solutions even smarter, helping businesses transform their information governance and security efforts, while at the same time enhancing decision-making across a wide range of industries such as Finance, Government and Healthcare."

Please visit ABBYY InfoExtractor, ABBYY SmartClassifier and www.abbyy.com, and follow ABBYY on LinkedIn and Twitter. 

About ABBYY
ABBYY is a leading global provider of technologies and solutions that help businesses to action information. The company sets the standard in content capture and innovative language-based technologies that integrate across the information lifecycle. ABBYY solutions are relied on to optimize business processes, mitigate risk, accelerate decision making and drive revenue. 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, visit www.ABBYY.com

ABBYY, the ABBYY Logo, InfoExtractor, Smart Classifier and Compreno 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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