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:
Adlib Software unveils latest release to help organizations streamline compliance and get valuable insights from unstructured data
Intelligent Document Processing provider Adlib Software has announced its latest product release. Highlights of this release include Adlib AiLink, which enables customers to seamlessly route documents to and from their preferred LLM infrastructure. This integration allows organizations to leverage their pre-approved AI models, unlocking advanced capabilities like data extraction, language translation, sentiment analysis and summarization while ensuring compliance with enterprise security protocols. In addition, with the easy-to-use AI prompts, users will gain valuable, customized insights from their data, even if they are not AI experts. Helen Rosen, CEO of Adlib Software, commented: “With our latest product release, Adlib enables organizations to radically simplify and reduce the costs of data-intensive compliance and regulatory processes. By combining AI with our enterprise-grade document transformation platform, these institutions are now also able to derive insights from mountains of unstructured information to make more informed decisions across the business.”
Rossum releases inaugural Document Automation Trends 2025 Report
Intelligent Document Processing vendor Rossum has released its inaugural Document Automation Trends 2025 Report, which provides a deep dive into the evolving priorities and obstacles finance leaders encounter as they transition toward a digital future. To this end, Rossum surveyed 470+ finance leaders in the UK, US, and Germany across all industries. The report highlights seven document automation trends to watch out for next year, including: 1. Humans will remain key to unlocking automation’s full potential; 2. AI will be the elephant in the room if there’s resistance to change; 3. Cybercriminals will adapt to new technologies faster than you; 4. Fortify your AP tech stack against the wave of AI technology coming your way; 5. The number of citizen developers will rise, so be ready to control with a short leash; 6. Channels, document types, and formats will increase, testing teams chasing end-to-end automation; and 7. CFOs that strategically roll out AI will have the edge. Each of these trends includes expert views, market assessment, 3 key actions for success, and KPIs to watch. You can download the Document Automation Trends 2025 Report here.
AI+IM Forum Europe 2024 – key takeaways from AIIM’s latest event
Industry leaders gathered in Manchester last week for AI+IM Forum Europe 2024 hosted by the Association for Intelligent Information Management (AIIM), exploring how AI is reshaping information management. The event emphasized three critical success factors for AI implementation: accessible high-quality data, documented governance, and human expertise. Notable insights came from Visa’s Tim Callister, who stressed the importance of responsible AI deployment, while Shell’s team shared their practical experience in elevating information management to strategic importance. The forum concluded by identifying immediate priorities: auditing dark data, encouraging cross-departmental AI conversations, and aligning information management with AI policies. Attendees also wanted to learn more about Intelligent Document Processing, among other topics. At the AI+IM Forum Europe 2024, a common denominator emerged: While AI is driving change, the fundamentals of information management remain essential. Read the full recap by Tori Miller Liu, President and CEO of AIIM, to learn all of her key insights.
ABBYY and Hyperscience recognized as one of the Top 100 Software Companies of 2024
The two Intelligent Document Processing vendors ABBYY and Hyperscience have been recognized by market research company The Software Report as one of the ‘Top 100 Software Companies of 2024’. According to The Software Report, the companies were evaluated based on various factors, including product functionality, customer satisfaction, corporate reputation, innovation capability, organizational depth, ESG commitment and long-term profitability.
Docsumo partners with National Debt Relief to accelerate debt settlement with Document AI
Intelligent Document Processing provider Docsumo has announced that it has joined forces with National Debt Relief (NDR). Thanks to this partnership, Docsumo automates the extraction of crucial information from debt settlement letters, enabling NDR to help people get out of debt faster. Rushabh Sheth, Co-Founder and CEO of Docsumo, commented: “Docsumo is proud to partner with NDR. We are now able to impact a million people’s lives with Document AI. What used to take more than 20 minutes is now done in under 20 seconds. This has remarkably helped people achieve their financial freedom with the help of AI.”
Infrrd joins forces with UHS America to transform mortgage auditing with AI
Intelligent Document Processing vendor Infrrd has announced a strategic partnership with mortgage auditing specialist UHS America. Together, Infrrd and UHS America aim to leverage cutting-edge AI technology to streamline loan auditing and provide innovative solutions that allow mortgage professionals to adopt future-ready auditing practices. Amit Jnagal, CEO of Infrrd, explained: “Mortgage is a strategic area of investment for Infrrd, and we believe we can help lenders achieve long-dreamt aspirations of touchless mortgage processing through the use of advanced AI algorithms. We are delighted to partner with Katherin and her team and will continue to invest in developing technologies that let them get 10X efficiency out of their existing team. I am even more excited about what’s to come next.”
Datamatics appoints SVP & CFO to lead finance operations
Intelligent Document Processing provider Datamatics has announced the appointment of Ankush Akar as Senior Vice President (SVP) & Chief Financial Officer (CFO) to drive strategic financial initiatives, enhance operational efficiencies, and support the company’s growth journey. A seasoned finance leader, Ankush Akar has nearly two decades of experience in strategic finance, business planning, controllership, pricing, taxation, treasury and process transformation. Most recently, he was SVP Finance at Relevance Lab, a technology solutions and services company. Ankush Akar, Senior Vice President & Chief Financial Officer at Datamatics, commented: “I am excited to join Datamatics, a company known for its innovative solutions and commitment to excellence. I look forward to collaborating with the talented teams to drive strategic growth, efficiencies, and contribute to the organization’s success in the digital era.”
📰Article:
Context Cloud: The Future of Document Extraction (part 1)
In this article, Intelligent Document Processing vendor AntWorks explains the limitations of current data extraction methods – from rigid rule-based systems to sophisticated AI models – and the challenges posed by the complexity of real-world documents. AntWorks also presents the development of a new approach that improves the process of data extraction by incorporating a sophisticated understanding of the spatial and locational context within documents.
Why One Size Doesn’t Fit All in Business Automation
While general-purpose AI models are transforming work, they reach their limits when faced with industry-specific challenges and specialized business processes. This article from Intelligent Document Processing vendor Altilia explores why organizations might benefit from specialized AI agents for their unique needs, from handling industry-specific terminology to processing proprietary data formats.
📖Whitepaper:
OCR Benchmark: A Comparison of OCR solutions
Intelligent Document Processing vendor Planet AI has announced the availability of a concise 2-page Executive Summary alongside its recently published OCR (Optical Character Recognition) Benchmark whitepaper, which provides a benchmark for comparing commercial and open-source OCR engines on the market. In it, Planet AI compared a range of OCR technologies – from open-source solutions (easyOCR, MMOCR, PaddleOCR, Tesseract) to commercial engines (Amazon, Azure, Google, Planet AI) and OpenAI’s visually-based GPT4 Vision Preview. Planet AI’s Intelligent Document Analysis (IDA) stands out with the lowest Character Error Rate (CER).
💡Opinion:
Using Intelligent Document Processing to Integrate and Standardize Production Workflows
Read the latest opinion piece by Ernie Crawford, President/CEO and Founder of software solutions and services provider Crawford Technologies, in which he explains how organizations can consolidate fragmented systems, standardize operations and reduce manual effort leveraging Intelligent Document Processing.
🎥Upcoming Webinars:
December 5, 2024, 10 am EST: Future Proofing Your AI Strategy for IDP: Mitigating the Risks of Technology Lock-In
Register for this webinar hosted by IDP provider TCG Process to learn how organizations can leverage AI for IDP without fear of making poor technology decisions or risking negative impacts on processes and customers due to AI hallucinations.
December 19, 2024, 1 pm EST: How Agentic AI is Driving the Next Evolution of Enterprise AI
Register for this webinar hosted by IDP provider Nividous to explore how agentic AI, a new breed of adaptive, self-directed artificial intelligence, is reshaping the enterprise landscape. From improving customer experiences to streamlining operations, agentic AI is helping organizations build AI ecosystems that go beyond predictions and recommendations, empowering intelligent systems to act with purpose and context.
📆Upcoming Event (in-person):
March 31 – April 2, 2025: AI+IM Global Summit 2025 in Atlanta, US
Our good friends at AIIM are announcing a new chapter with their annual AIIM Conference evolving into the AI+IM Global Summit. This event will explore the intersection of AI and information management. During the 2.5-day strategic, intimate event attendees will find practical advice, meaningful industry connections, and innovative ideas.
📌Find more upcoming events and webinars in the Intelligent Document Processing space here.
Thank you for reading and see you next week!
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