ServiceNow, a leading digital workflow company, has announced its plans to acquire task mining firm UltimateSuite in order to enhance process mining and intelligent automation capabilities. The acquisition is a part of ServiceNow’s ongoing effort to strengthen its automation and artificial intelligence (AI) offerings and empower customers to improve operational efficiencies.
Process mining, particularly in the area of identifying process bottlenecks, has gained significant recognition and growth in recent years. Software revenue in this sector increased by 46% in 2021 and is projected to reach USD $2.3 billion by 2025. UltimateSuite’s task-mining technology provides actionable insights to streamline repetitive work and identify opportunities for automation, complementing ServiceNow’s existing suite of intelligent automation tools.
Eric Schroeder, Vice President of NowX product management at ServiceNow, highlighted the significance of the acquisition and the role of task mining in providing a more accurate understanding of how people work. The acquisition aligns with ServiceNow’s commitment to help customers automate workflows and drive productivity.
Robert Samanek, CEO and Founder of UltimateSuite, expressed his belief that automation, powered by task mining technology, can help expand the potential of employees and businesses. The integration of UltimateSuite into the ServiceNow platform aims to deliver actionable insights and transform the way people work.
UltimateSuite, based in Prague, Czech Republic, and founded in 2020, has previously received industry recognition for its innovative technology. The acquisition of UltimateSuite follows ServiceNow’s previous acquisitions of G2K and Element AI, demonstrating the company’s commitment to delivering impactful automation and AI-powered solutions to its clients.
The financial terms of the acquisition have not been disclosed. ServiceNow expects the acquisition to be finalized in the first quarter of 2024.