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:
Duco reaches first major milestone following the acquisition of IDP vendor Metamaze Duco, the enterprise platform for data automation, has announced the launch of its end-to-end reconciliation capability for unstructured data. This marks the first major milestone in Duco’s integration plan following the acquisition of Belgian IDP vendor Metamaze in February to create a one-stop AI platform for all types of data from all types of documents. With the launch of the end-to-end reconciliation capability for unstructured data, Duco’s clients can now ingest, transform, normalise, enrich and reconcile structured and unstructured data in Duco’s platform, automating data processing across the entire lifecycle. Michael Chin, Duco’s CEO, commented: “I am very excited about reaching this first major milestone in our integration plan following the acquisition of Adaptive Intelligent Document Processing innovator Metamaze in February this year. Our integrated platform strategy will unlock significant value for our clients. We’re solving a huge problem for the industry, one that clients have repeatedly told us lacks a robust and efficient solution on the market. They can now ingest, transform, normalise, enrich and reconcile structured and unstructured data in Duco, automating data processing throughout its lifecycle. They also benefit from Duco’s true no-code, SaaS advantage, as well as our security credentials. Our clients have been very enthusiastic about this new offering, with some already signed-up to automate complex reconciliation use cases and who are going live this summer.”
Automation Anywhere appoints new Chief Sales Officer to drive global sales strategies AI-powered process automation solutions provider Automation Anywhere has announced the appointment of Jeff Tworek as Chief Sales Officer to drive the company’s global sales strategies and AI-powered automation market penetration. Jeff Tworek brings more than 25 years of leadership and a wealth of enterprise software and growth experience, most recently serving as Chief Revenue Officer at Megaport. Ankur Kothari, Co-founder and Chief Operating Officer at Automation Anywhere, commented: “Jeff joins Automation Anywhere at an exciting and pivotal time, as we revolutionize the process automation landscape with innovative AI-powered automation solutions that help companies transform their business. Jeff’s exceptional leadership and expertise will be instrumental to accelerate our customers’ transformation journeys and help them automate the impossible.”
Instabase launches AI Hub Search IDP vendor Instabase has announced the launch of AI Hub Search, its latest feature that provides users actionable insights across all enterprise data (from legal contracts and technical specs to legacy records and handwritten notes) and systems. After entering a search query, Instabase’s advanced AI agents deliver thoroughly researched answers by collecting and analyzing data and summarizing the insights for better decision making. They also double-check their work and provide references for fact-based results.
ABBYY launches MVP program for developer community IDP vendor ABBYY has launched the ABBYY Most Valuable Professional (MVP) program. With this program, ABBYY highlights developers and technical users with proven expertise in ABBYY AI and a passion for sharing their knowledge with others to encourage continuous innovation. Travis Spangler, Vice President of Intelligent Document Processing Sales and Strategy at Naviant and one of the inaugural members of the ABBYY MVP program, explained: “I joined the ABBYY MVP program to leverage cutting-edge AI and intelligent automation technologies, enhancing my ability to deliver transformative solutions. By integrating ABBYY’s advanced tools and utilizing this program’s access to others within the ABBYY community, I will be enabled to provide clients with unparalleled insights and operational excellence. Clients and partners throughout the globe will substantially benefit from the ABBYY MVP ecosystem and I’m thrilled to be a part of it.”
TCG Process launches automation accelerator Email Triage Intelligent process automation company TCG Process has announced the launch of Email Triage. Email Triage is an automation accelerator built on DocProStar, TCG Process’ flagship product, that addresses the challenges of shared inboxes by automating the categorization, prioritization and routing of emails based on predefined business rules. Frank Volckmar, Managing Director for TCG Process Canada, explained: “The email triage accelerator invites customers to cost-effectively, securely, and quickly leverage AI to accurately ingest information into their business. This solution can be extended to fully automate the ingestion and verification of customer information into workflows and applications that businesses rely upon to service their customers. We are proud of the team’s innovation on this global challenge and wonder why anyone would do it any other way.”
Rossum enters into strategic partnership with 8Quanta IDP vendor Rossum has announced a strategic partnership with finance consulting firm 8Quanta. Thanks to this partnership, the two companies will combine Rossum’s expertise in IDP with 8Quanta‘s expertise in NetSuite implementation, optimization, and support to automate the processing and validation of invoices and purchase orders. David Jamieson, Global Alliances Director at Rossum, explained: “Together with 8Quanta, we are excited to offer a powerful solution specifically designed to address the automation challenges faced by finance teams working with NetSuite. Our AI document processing platform, coupled with 8Quanta’s deep NetSuite knowledge, will streamline document workflows, reduce manual work and human errors, and empower finance professionals to focus on strategic initiatives that drive business growth.”
SER appoints new Chief Revenue Officer to accelerate growth in EMEA and the US Intelligent automation software vendor SER has announced the appointment of John David as Chief Revenue Officer to accelerate the company’s growth trajectory in EMEA, the US and the rest of the world. The appointment follows SER’s announcement in March that private equity firm TA Associates had agreed to make a strategic growth investment in the company. TA Associates thus became the new main investor alongside investment firm Carlyle, which has been investing in SER since 2018. John David is an enterprise software veteran and most recently served as SVP of Global Sales for Flexera and Revenera. Dr. John Bates, CEO of SER, stated: “We are thrilled to welcome John David to SER. John’s extensive experience and exceptional skills in building and scaling sales organizations make him the ideal leader to drive our revenue growth and expand our presence in North America, EMEA and beyond. His strategic vision and ability to foster high-performing sales teams will be invaluable as we continue to win North American clients and grow our substantial operations in EMEA.”
Kanverse.ai wins Silver award in the 2024 Globee Awards in the AI category IDP vendor Kanverse.ai has announced that it has been awarded the Silver Award in the Artificial Intelligence category at the 19th annual 2024 Globee Awards for Technology. The Globee Awards recognize organizations of all types and sizes from around the world for their achievements in various business and technology-related categories.
Klippa forms technology partnership with Finnplay IDP vendor Klippa has announced a new technology partnership with Finnplay, a software development company specializing in applications for the iGaming industry. Through this technology partnership, Klippa will provide advanced Know-Your-Customer (KYC) and affordability checks for Finnplay’s platform, improving security and compliance for online casino operators.
📰Article:
An even more crowded Intelligent Document Processing field in 2024 Analyst firm Deep Analysis now counts nearly 400 companies offering IDP functionality. Read the article to find out what Dan Lucarini, Senior Analyst at the analyst firm, thinks about the reasons why so many companies are now offering IDP functionality.
Leveraging Intelligent Document Processing for training Large Language Models Modern IDP solutions automatically extract unstructured data from complex documents. It is precisely this high-quality data that is required for the training of Large Language Models (LLMs). Read this article to find out what part IDP plays in the training of LLMs.
What’s the role of IDP in HR? Read this article by Sabra Goldick, Senior Product Marketing Manager at OpenText, to learn how IDP increases the efficiency, speed and accuracy of HR processes, such as employee onboarding, freeing up more time for strategic tasks.
🎧Podcast:
The role of AI and ML in document processing Listen to this 37-minute podcast hosted by IDP vendor Indico Data to gain insights into the evolving landscape of insurance technology, specifically the transformative impact of AI and machine learning in IDP.
📊Report:
AIIM 2024 Industry Watch: State of the Intelligent Information Management Practice Report AIIM (The Association for Intelligent Information Management) has announced the release of its “2024 Industry Watch: State of the Intelligent Information Management Practice” report. The report addresses the latest trends shaping the information management landscape, focusing on emerging information leaders, prioritization of information management, and evolving tech stacks with a focus on AI and automation. You can download the full report for free here.
💡Opinion:
The Ethical AI Dilemma: Navigating the Future of AI Privacy and Compliance Read the latest opinion piece by Maxime Vermeir, Senior Director of AI Strategy at intelligent automation company ABBYY, in which he discusses the rapid evolution of AI technologies and the ethical issues and privacy concerns associated with them.
How to Pick the Right Intelligent Document Processing Solution for Your Business Read the latest opinion piece by Jonathan Grandperrin, Co-Founder and CEO at Mindee, an API-first platform that helps developers automate applications’ workflows, in which he shares the key factors anyone considering an IDP solution for their organization should know.
🎥Upcoming Webinar:
August 13, 2024, 11 am EST: How to enhance carrier decisioning through collaborative ecosystems Register for this webinar hosted by IDP vendor Indico Data to learn how interconnected technologies, AI and data platforms can improve carriers’ decision-making processes.
📆Upcoming Event (in-person):
September 3, 2024: Business processes in times of change: AI-powered process automation in the financial sector in Zurich, Switzerland (DE only) This event, co-hosted by IDP provider Parashift, is aimed at financial experts who want to gain insights into how to optimize business processes with AI in the financial sector.
📌Find more upcoming events and webinars in the Intelligent Document Processing space here.
Thank you for reading and see you next week!
📨Weekly IDP news straight to your inbox, once a week ↓
