ServiceNow buys task mining firm to boost automation

UltimateSuite buyout intended to enhance ServiceNow's intelligent automation capabilities

Digital workflow vendor ServiceNow has signed an agreement to acquire task mining firm UltimateSuite.

The buyout will enhance ServiceNow's process mining and intelligent automation capabilities across its Now Platform. It'll allow ServiceNow to help customers identify process bottlenecks and drive stronger operational efficiencies.

According to Gartner, global process mining software revenue grew 46 per cent in 2021, projected to become a £2.3bn market by 2025 at a 33 pre cent compound annual growth rate (CAGR) from 2020-2025.

This growth shows the importance of process mining for translating insights into action.

As a Now Platform capability, process mining helps customers understand work flows across people, tasks and systems.

It acts like an X-ray to identify and automate operational bottlenecks, according to the company.

The acquisition furthers ServiceNow's intelligent automation capabilities.

UltimateSuite's task mining technology provides actionable insights to streamline repetitive work and identify automation opportunities - core to process mining.

With predictive analysis and prompts, it provides operational intelligence to accelerate digital transformation and enhance employee experiences.

ServiceNow's Eric Schroeder said: "The Now Platform is the platform for digital business, and we continually work to help customers remove guesswork and create intuitive processes.

"Task mining reveals a more accurate picture of work.

"With UltimateSuite, we extend ServiceNow's automation and productivity capabilities."

UltimateSuite's CEO Robert Samanek also said: "We believe automation built with our task mining technology helps employees and businesses expand creativity and productivity.

"We are proud to join ServiceNow and integrate into the Now Platform to drive insights that transform how people work."

Founded in 2020 by Samanek, UltimateSuite is headquartered in Prague, Czechia.

It has been recognised by analysts and industry bodies for its innovative technology.

The acquisition follows ServiceNow's purchases of G2K and Element AI, showing its commitment to impactful automation and AI solutions.

ServiceNow expects to finalise the UltimateSuite acquisition in Q1 2024.

Financial terms were not disclosed.