In this section we cover news, insights and trivia about Intelligent Document Processing (IDP), share interesting articles, upcoming webinars, events and more.
What we cover in this week’s recap:
🗞️News:
Rossum launches its e-invoicing Germany plugin to help global enterprises seamlessly adapt to the upcoming e-invoicing mandate in Germany
IDP vendor Rossum has announced the launch of its e-invoicing Germany plugin, specifically built to help global enterprises seamlessly adapt to the e-invoicing regulation coming into force in Germany in 2025. The e-invoicing Germany plugin integrates seamlessly with Rossum’s existing PDF document processing capabilities, extending the platform’s ability to deliver comprehensive and compliant document processing solutions. With this, the IDP vendor is taking a step further towards a standardized and compliant AP solution that can handle all invoice formats. Tomas Gogar, CEO of Rossum, explained: “Our new Germany e-invoicing plug-in offers a comprehensive and flexible approach to e-invoicing, eliminating the need for multiple vendors across countries and ensuring a smooth transition to these new requirements for global companies. With Rossum, businesses can process all invoice types on a single, unified platform, unlocking each country’s e-invoicing requirements as needed. This not only simplifies operations but also provides the flexibility to adapt to evolving business needs.” Rossum also announced that following the e-invoice Germany plugin, the company will introduce further country-specific plugins.
Alkymi partners with Northwestern Mutual to handle the insurance company’s complex data workflows
IDP vendor Alkymi has announced that mutual insurance company Northwestern Mutual has selected the company to scale investments capacity and mitigate risk by automating processing for its complex data workflows. Alkymi automates, transforms and validates key data. The structured data is then delivered to Northwestern Mutual’s investment data platform for processing. Amy Schulz, Director Investment Strategy at Northwestern Mutual, explained: “Using Alkymi is a huge risk mitigator when it comes to data accuracy and key person risk, even finding talent. From a data accuracy standpoint, there’s a risk of manual error. Alkymi increases the accuracy of our data and allows our team to focus on lightweight oversight and reasonableness checks.”
UiPath reports financial results for second quarter fiscal 2025
Enterprise automation and AI software company UiPath has announced financial results for its second quarter fiscal 2025, which ended July 31, 2024. UiPath reported revenue of $316 million, up 10% year-over-year (YoY) and annual recurring revenue (ARR) of $1.551 billion, up 19% YoY. Daniel Dines, UiPath Founder and CEO, commented: “We are pleased with our second quarter results, with ARR growing 19 percent year-over-year, a testament to the team’s improved execution and the compelling value that our AI-powered automation platform delivers to our customers. Our conversations with customers and partners deepen our conviction that there is an increasing need for AI and automation, and our unwavering commitment to innovation continues to position us as the automation platform of choice for capturing the opportunities that AI brings to an enterprise. As we look to the remainder of the year, we will continue to focus on product innovation, customer-centricity, and driving operational efficiencies across the business.”
Klippa joins forces with Yakidoo to enable more businesses across the Americas and the Caribbean to leverage modern document processing technology
IDP vendor Klippa has announced a partnership with intelligent information management and tech solutions provider Yakidoo. Through this partnership, the two companies aim to combine Klippa’s AI-powered document processing solutions with Yakidoo’s expertise in ECM, BPM, and AIIM-certified training to reach a broader audience in Spanish and English-speaking regions. Jeroen Kant, Chief Commercial Officer at Klippa, commented: “We are delighted to partner with Yakidoo to bring our AI-driven intelligent document processing solutions to a broader audience across the Americas and the Caribbean. This collaboration not only combines our cutting-edge technology with Yakidoo’s expertise in digital transformation but also reflects our commitment to true partnerships. We are proud to welcome new partners who choose Klippa, not just for our innovative solutions, but for the way we collaborate and support them in achieving mutual success.”
📰Article:
How do you handle sensitive data in GenAI applications?
Read this article by Susanne Richter-Wills, VP Partnerships EMEA at ScaleHub, the managed crowdsourcing service for automated document processing, for insights and practical guidance on tackling data privacy and security challenges in the rapidly evolving GenAI landscape.
📄Whitepaper:
How to optimize document processes with modern data extraction technologies
Download this whitepaper from IDP vendor Planet AI to get an overview of existing extraction technologies and their applications, strengths and weaknesses of each technology, and the flexible use of trainable models and pre-trained large language models (LLMs) for different document types.
💡Opinion:
Commercial Consumption of Document AI – How Legacy and Newcomer IDP manufacturers handle LLMs and SLMs
Stay tuned for the opinion piece “Commercial Consumption of Document AI – How Legacy and Newcomer IDP manufacturers handle LLMs and SLMs” by Brent Wesler, VP of Strategic Technology and Digital Automation at PiF Technologies. In the meantime, get food for thought on IDP-related topics from the industry’s leading minds.
🎥Upcoming Webinar:
September 12, 2024: ABBYY Intelligent Automation Month – Session 2 of 4
Register for ABBYY Intelligent Automation Month with four webinars focused on increasing efficiency and ROI through AI. In the second session, titled “E-invoicing is coming! Is your organization ready?”, you will gain insight into the current state of e-invoicing globally, with a particular focus on Europe, and learn how purpose-built IDP can be aligned with business needs for efficient invoice processing.
📆Upcoming Events (in-person):
September 12, 2024, 6 pm CEST in Leuven, Belgium: Scaling and deploying AI in an international context
Join IDP vendor Klassif.ai at their HQ in Leuven for a keynote by Antoine Smets, Klassif.ai’s CEO, and gain insights into optimizing document workflows, extracting valuable data and increasing operational efficiency through intelligent automation.
September 18, 2024, 5:45 pm EST in Boston, US: Applied AI strategies for private markets
Register for Alkymi’s panel discussion in Boston with industry leaders from HarbourVest Partners, Liberty Mutual Investments, and Cutter Associates.
📌Find more upcoming events and webinars in the Intelligent Document Processing space here.
Thanks for reading and see you next week!
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