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:
Instabase announces $100 million Series D funding round
Intelligent Document Processing vendor Instabase has announced its $100 million Series D funding round. This round was by Qatar Investment Authority with participation from existing investors Greylock, New Enterprise Associates (NEA), Andreessen Horowitz, and Index Ventures. According to Instabase, the IDP vendor will invest the new capital in expanding the automation, analysis and search capabilities of AI Hub, its unstructured data platform. Anant Bhardwaj, Founder and CEO of Instabase, commented: “Today’s investment reflects our partners’ continued belief in our mission and the tangible impact the Instabase platform has made for enterprises of all sizes. As we progress through the AI age, companies cannot realize their AI capabilities without first harnessing and learning from the unstructured data that lives within every organization. With our roots in intelligent document processing, early implementation of AI agents capable of content understanding and agentic reasoning, and the platform’s ability to maintain security by keeping data in its original location while automating and simplifying workflows, there is no better enterprise partner.” In June 2023, Instabase announced its $45 million Series C funding round, which was completed at the end of 2022 and valued the company at $2 billion.
Infosource Senior Analyst Petra Beck shares her predictions for the development of the IDP market in 2025
How will the Intelligent Document Processing market develop this year? Find out what Petra Beck, Senior Analyst at analyst firm Infosource, predicts. These are the first 5 of her 10 predictions: IDP Market Prediction #1 – GenAI’s dual impact: Generative AI (GenAI) has overcome its share of challenges, but in 2025 it will turn obstacles into opportunities and bring new growth to the IDP market. IDP Market Prediction #2 – RAG comes to IDP: Retrieval-Augmented Generation (RAG) will emerge as a critical technology, enhancing Large Language Models (LLMs) with greater contextual understanding and up-to-date accuracy. IDP Market Prediction #3 – E-invoicing becomes a reality: E-invoicing mandates are accelerating globally, reshaping the landscape of accounts payable and accounts receivable processes. What does this mean for IDP solutions? IDP Market Prediction #4 – The growing importance and feasibility of multimodal capabilities: The integration of multimodal language models will unlock new potential in Intelligent Document Processing and enable more efficient processing of diverse input types and formats. IDP Market Prediction #5 – GenAI is a double-edged sword from a sustainability perspective: While GenAI offers immense potential, its energy requirements present real sustainability challenges. 2025 will see the IDP market grapple with balancing innovation and environmental responsibility.
ancora Software adds 85 new customers in Q4 2024
Intelligent Document Processing vendor ancora Software has reported solid growth in Q4 2024 with the acquisition of 85 (33 international) new customers. According to the IDP vendor, part of the growth is due to the strategic addition of two new ERP partners who have integrated ancora Software into their platform and are reselling it to new and existing customers. Noel Flynn, CEO of ancora Software, commented: “Adding 85 new customers in a single quarter is a testament to the demand for intelligent automation solutions that drive operational efficiency. We are thrilled to continue expanding globally and to work alongside our new ERP partners to offer even more value to our customers. The combination of our innovative solutions and the power of our strategic partnerships has proven to be a catalyst for success in key markets.” ancora Software has already reported a strong Q3 2024 with the acquisition of 78 new customers. For 2025, ancora Software aims to expand its global customer base and offer state-of-the-art automation solutions to companies around the world.
Crawford Technologies closes 2024 with strong growth
Software solutions and services provider Crawford Technologies has announced that it ended the year with strong growth. Crawford Technologies reported a 9% year-over-year increase in revenue and that 90% of new customers have adopted its subscription-based service. The company attributes its continued success to its close alignment with its customers’ key business needs. Another milestone was the increase in Crawford Technologies’ Net Promoter Score (NPS) from 73 to 81, highlighting an impressive return on the company’s commitment to delivering consistently positive customer experiences. Ernie Crawford, president and CEO of Crawford Technologies, commented: “It is gratifying that 2024 brought many successes, marked by strong growth and an even deeper commitment to customer satisfaction. In collaboration with our team, customers and partners, we not only addressed critical market needs, but by putting a laser focus on innovation and service excellence, we also set new standards for customer and employee experiences. I look forward to continuing to drive this value in the year ahead.”
Reveille Software and ABBYY expand partnership with new ABBYY Vantage and ABBYY FlexiCapture Cloud support (via direct source)
Reveille Software, a provider of management and monitoring solutions for Intelligent Process Automation-based applications, has announced that it has expanded its partnership with Intelligent Document Processing vendor ABBYY with new support for ABBYY Vantage, its IDP platform, and ABBYY FlexiCapture Cloud. This enhancement builds on Reveille Software’s existing integration with ABBYY FlexiCapture, providing organizations with comprehensive monitoring capabilities across ABBYY’s IDP solutions. Wayne Ford, Senior VP of Corporate Development at Reveille Software, explained: “Organizations with complex, intelligent automation processes require comprehensive visibility into their applications and processes. By expanding our ABBYY partnership to include Vantage support, we’re ensuring that organizations can maintain peak performance across their entire document ecosystem.” Patrick Jean, CPO and CTO at ABBYY, added: “We are excited to partner with Reveille to extend its monitoring and management capabilities further to encompass more of the ABBYY product suite. Reveille has the potential to maximize the value of ABBYY solutions for our mutual customers by providing comprehensive visibility and proactive remediation for business-critical processes. This end-to-end transparency ensures enterprises achieve the observability, security, and service-level reliability they need to excel.”
Tungsten Automation appoints new Vice President of Alliances & Channels
Intelligent workflow automation solutions provider Tungsten Automation has announced that it has appointed Ryan Begin as its new Vice President of Alliances & Channels. He brings more than two decades of experience in the tech industry and most recently served as Vice President of ISV Partnerships at Salesforce. At Tungsten Automation, Ryan Begin will focus on strengthening the partner ecosystem and further developing the company’s AI- powered document automation and intelligent workflow solutions.
📰Article:
The Ultimate AI-Checklist for C-Level Leaders in 2025
As a C-level executive, what can you do to increase the chances of success for your AI initiatives in 2025? Check out this article by Marie-Pierre Garnier, VP Marketing & Communications at Cortical.io, to get a checklist for this.
A 5 steps guide to implementing AI solutions in your organization
Companies are faced with a critical choice when deciding on the approach to implementing an AI solution for the first time: should it be a “quick win” solution or a more structured, comprehensive one? Both have their advantages; is it possible to combine the benefits of both approaches? Read this article from intelligent document processing provider Altilia to find out.
🎧Podcast:
How can businesses rethink their approach to Intelligent Document Processing and Enterprise Content Management?
Check out this 44-minute podcast hosted by Thilo Rossa, CPO at Intelligent Document Processing vendor Parashift. He is joined by Thomas Ruth and Roger Wespi, the Founders of Prosilium, a document management and digital transformation provider, to discuss how organizations can rethink their approach to IDP and ECM to remain competitive in a rapidly evolving digital world.
💻Interview:
What is Max Vermeir, ABBYY’s Senior Director of AI Strategy, expecting from AI in 2025?
Watch this 10-minute interview with Maxime Vermeir, Senior Director of AI Strategy at Intelligent Document Processing vendor ABBYY, at the AI Summit New York, where he recently spoke about Small Language Models, how to measure ROI nowadays, and what he expects from AI in 2025.
💡Opinion:
How Multimodal AI Is Redefining the Concept of Documents
Read the latest opinion piece by Christopher Helm, CEO of Helm & Nagel GmbH with its Intelligent Document Processing software Konfuzio, in which he explains why a document no longer is an object, and what long-term significance this shift – from static data silos to adaptive systems – will have.
🎥Upcoming Webinars:
January 23, 2025, 9 am EST: The Next Frontier in AP Automation
Register for this webinar hosted by IDP vendor Rossum with guest speaker Meng Liu, Senior Analyst at Forrester, who will share Forrester’s expert perspective on industry trends, AI maturity for Accounts Payable use cases, as well as actionable strategies to future-proof your finance function.
January 29, 2025, 2 pm EST: NARA’s Vision for Best Practices in Capturing Metadata
Join analyst firm Infosource for this webinar, part of their Virtual Capture & IDP Conference Series, that you won’t want to miss if you are involved in any form of government records management.
January 30, 2025, 10 am EST: Reimagining Financial Services with Neuro-Symbolic, Agentic Systems
Register for this webinar by IDP vendor Cognaize and learn from Vahe Andonians, CEO and Founder of Cognaize, what neuro-symbolic systems are and how this technology enables advanced decision making for financial services.
January 30, 2025, 11 am EST: What’s Next for Intelligent Document Processing (IDP)?
Register for this webinar hosted by Intelligent Document Processing vendor Kodak Alaris and join a panel of AI and IDP subject matter experts to discuss what’s next for Intelligent Document Processing.
📆Upcoming Event (in-person):
March 31 – April 2, 2025: AI+IM Global Summit 2025 in Atlanta, US
Join AIIM (The Association for Intelligent Information Management) as the AIIM Conference evolves into the AI+IM Global Summit 2025 with 2.5 days of hands-on workshops, insightful keynotes, and real-world use cases presented by leading experts. Featured sessions include: “Is Your Unstructured Data AI-Ready?”; “Digitization: The On-Ramp to AI-Driven Intelligence” and many more. Register now through January 31, 2025 and save $300!
📌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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