Low-code automation platform provider Appian announced it has acquired German process mining technology firm Lana Labs. Appian will integrate the LANA Process Mining Platform into its offering enabling users to better understand the strengths and weaknesses of their business processes and identify appropriate candidates for automation.
Process mining has become an increasingly important part of the automation strategy for companies, enabling them to identify which processes can and should be automated, reveal bottlenecks and inefficiencies in processes and reduce operating costs.
A recent study by the Everest Group found that the process mining software market more than doubled between 2018 and 2019, growing 150 percent to reach around $240 million.
According to a joint statement from the companies, greater insight into their processes with the capability provided by Lana process intelligence technology will enable organizations to deploy mission-critical applications with the Appian platform and optimize automated processes.
“There is natural synergy between process mining, process modeling, and automation,” said Matt Calkins, CEO of Appian. “We believe that our acquisition of Lana Labs means that only Appian will be able to take customers from knowing to doing, in a unified suite.”
Financial terms of the acquisition were not disclosed.