ServiceNow has agreed to acquire UltimateSuite, a task mining company, to strengthen its process mining and intelligent automation capabilities on the Now Platform. This acquisition is part of ServiceNow's ongoing efforts to enhance automation and artificial intelligence (AI) features, allowing customers to identify and address process bottlenecks for improved operational efficiency.
“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. 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,” said Eric Schroeder, Vice President of NowX Product Management at ServiceNow.
A Gartner study indicates a significant 46% growth in global process mining software revenue in 2021, with a projected increase to $2.3 billion by 2025, showcasing the rising importance of process mining in turning insights into actionable strategies. Positioned as a fundamental feature of the Now Platform, process mining acts like a business X-ray, offering insights into how work flows across people, tasks, and systems, facilitating the identification and automation of operational bottlenecks.
UltimateSuite's task mining technology, a key aspect of process mining, delivers actionable insights that streamline repetitive tasks and pinpoint opportunities for automation. Through predictive analysis and actionable prompts, UltimateSuite's technology provides operational intelligence, enabling customers to accelerate their digital business transformation and elevate employee experiences.
"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. 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,” said Robert Samanek, CEO and Founder of UltimateSuite.
The completion of the UltimateSuite acquisition by ServiceNow is anticipated in the first quarter of 2024, and it marks ServiceNow's latest acquisition following G2K and Element AI.
Elsewhere, ServiceNow has signed a five-year agreement with AWS to infuse artificial intelligence into critical business workflows.
