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 joins forces with Clearsulting to enhance its enterprise Coupa integrations in the US IDP vendor Rossum has announced a strategic partnership with digital finance consulting firm Clearsulting. Through this partnership, the two companies will combine Rossum’s next-gen IDP solution with Clearsulting’s extensive experience in digital finance transformation. By leveraging Clearsulting’s expertise in Coupa implementations and Rossum’s certified technical integration (Rossum recently announced its certified Coupa integration), the partnership will provide reliable solutions to optimize procurement processes and financial operations in the US. David Jamieson, Alliances Director at Rossum, commented: “We’re excited to partner with Clearsulting. Their expertise in finance transformation and procurement perfectly complements our AI-first document automation platform. Together, we’ll empower organizations across the US to enhance operational efficiency, and move closer to our mission of enabling one person to seamlessly handle a million transactions.”
Datamatics is granted a patent for its Intelligent Document Processing solution TruCap+ IDP provider Datamatics has announced that it was recently granted a patent for its proprietary Intelligent Document Processing solution TruCap+, i.e. “System and Method of Automated Document Processing for Structured, Semi-Structured and Unstructured Documents”. Dr. Lalit S. Kanodia, Chairman & Founder of Datamatics, commented: “At Datamatics, we consistently invest on our research & development work on new, innovative and emerging technologies to create intelligent solutions for complex problems faced by enterprises. TruCap+ is one such solution aimed to deliver the benefits of true automation to our customers. We are happy to receive the patent for TruCap+. It has consistently garnered accolades and recognition from leading analysts and industry experts, and the recently granted patent further solidifies its position as a leading intelligent document processing solution. I congratulate the Datamatics team for their dedication and efforts in securing this patent.”
Instabase and Docspro form a strategic partnership (NL only) IDP vendor Instabase has announced a strategic partnership with information management specialist Docspro. Through this partnership, the two companies aim to combine Docspro’s document processing expertise and technologies with Instabase’s intelligent automation capabilities. This will enable companies to further streamline their workflows, reduce manual tasks and achieve even greater accuracy in document processing. Darragh Byrne, Strategic Alliances Director at Instabase, commented: “This partnership illustrates Docspro and Instabase’s commitment to innovation and customer success. Together, we believe we can redefine how organizations collect, process and leverage their data.”
Five Intelligent Document Processing providers in FinTech Global’s AIFinTech100 2024 FinTech information services provider FinTech Global has published its AIFinTech100 2024, which lists the most innovative companies developing AI technologies for financial services. With Cinnamon AI, Cognaize, expert.ai, Quantiphi and WorkFusion, the AIFinTech100 2024 also includes five Intelligent Document Processing providers.
Reveille Software introduces Reveille for ABBYY FlexiCapture ECM monitoring and management provider Reveille Software has announced the release of its summer 2024 product update. As part of this, Reveille Software has introduced Reveille for ABBYY FlexiCapture (ABBYY’s enterprise-grade data capture and extraction solution), which enables enhanced monitoring of document automation processes to ensure the reliability, performance and security of IDP operations. Wayne Ford, Vice President of Corporate Development at Reveille Software, commented: “This release is targeted at Flexi customers and partners that realize their IDP and intelligent automation processes are business critical. They understand the need for visibility across multi-vendor capture, workflow, and content management applications for service level monitoring and rapid corrective action. Looking forward to working with ABBYY and our mutual partners to bring this joint value to our customers!”
📰Article:
IDP vendor Cognaize in the spotlight Read this article by Dan Lucarini, senior analyst at analyst firm Deep Analysis, to gain insight into what Dan calls “one of IDP’s best-kept secrets for financial document understanding”.
How IDP facilitates the efficient border crossing of goods Read this article by Maxime Vermeir, Senior Director of AI Strategy at IDP vendor ABBYY, to discover to learn how document volumes in international shipping have continued to increase post-Brexit and how intelligent document processing is helping to minimize delays at borders, speeding up the movement of goods across borders.
💡Opinion:
Leveraging Large Language Models for Secure Document Processing: Challenges and Alternatives Read the latest opinion piece by Ben Cheng, Founder and CEO at IDP provider FormX.ai, in which he explores the challenges organizations face in prioritizing data security when using large language models (LLMs) for Intelligent Document Processing, and explains alternative approaches that enable organizations to leverage the power of LLMs for IDP while maintaining robust data security practices.
🎥Upcoming Webinar:
June 26, 2024: Capture & IDP Conference In this first session of the Infosource webinar series, industry analyst Ralph Gammon will provide an overview of the 2024 Capture & IDP Vendor Matrix Report, which features a ranking of over 20 vendors.
📆Upcoming Events (mostly in-person):
June 24-26, 2024: Intelligent Automation Week in Dallas, US This event will provide insights into the latest intelligent automation trends for business growth in 2024, including GenAI, automation, cost reduction, and improved experiences.
August 12-14, 2024: Ai4 in Las Vegas, US Ai4 is North America’s largest AI industry event which will focus on the latest applications, the state of generative AI and the best practices shaping the future of AI.
📌Find more upcoming events in the Intelligent Document Processing space here.
Thanks for reading and see you next week!
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