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 and KPMG Netherlands join forces to combine expertise in Intelligent Document Processing with expertise in process optimization
Intelligent Document Processing vendor Rossum has announced a strategic partnership with KPMG Netherlands to combine expertise in IDP with expertise in process optimization to help companies automate their document-based workflows. According Rossum, the partnership builds on several successful automation projects that the two companies have jointly realised in sectors such as consumer goods, retail, hospitality and industrial materials. David Jamieson, Global Alliances Director at Rossum, commented: “Rossum is proud to partner with KPMG Netherlands. Over the past two years, we’ve developed a strong implementation partnership. Their deep enterprise expertise and proven track record in finance and process optimization enable organizations to automate their document workflows confidently through Rossum.” Michiel van Oijen, Senior Manager Finance & Business Services at KPMG, added: “We work with the latest technologies to meet the needs of our clients and are proud to be Rossum’s implementation partner. Our team, with extensive experience in IDP projects, implements cutting-edge cloud technologies. This partnership goes beyond a typical business collaboration; it’s a shared journey where our combined expertise and joint efforts lead to lasting success.”
Cogniquest appoints veteran CIO Ralph H Groce III to its Advisory Board
Intelligent Document Processing vendor Cogniquest has announced that it has appointed Ralph H Groce III to its Advisory Board to help guide the company as it builds an enterprise-grade technology platform and expands its global footprint. Ralph H Groce III has more than two decades of experience in the financial services industry, including CIO roles at BNY Mellin and Everest Reinsurance Company as well as SVP and CTO at Wells Fargo. He commented on his new role: “I am both honored and thrilled to join the advisory board of Cogniquest, where I can play an active role in helping an amazingly innovative company disrupt and transform an area in dire need of modernization.” Satish Grampurohit, Co-founder and CEO of Cogniquest, commented: “We are delighted to welcome Ralph to our advisory board. I had an opportunity to work with him when he was a CIO of our customer during my tenure at Infosys. I was inspired by his boldness to effect change, passion for innovation and his understanding of the interplay between technology business operations. His expertise and leadership will be invaluable as we expand our footprint and enhance our solutions. We are privileged to have him on our advisory board and are grateful for his support.” Just a few weeks ago, Cogniquest announced that the renowned tech industry leader Pravin Rao has joined the company’s Advisory Board.
Indico Data launches Agentic AI decisioning application for commercial insurance underwriting clearance and triage
Intelligent Document Processing vendor Indico Data has announced the launch of its new Agentic AI decisioning application for commercial insurance underwriting clearance and triage. By automating the ingestion of unstructured submission data and analysing complex decision criteria, the application speeds up the quoting process, leading to improved risk selection and higher premium growth. Dan Lucarini, Senior Analyst at Deep Analysis, commented on Indico Data’s new solution: “Just as we predicted last year when GenAI blew onto the scene, IDP vendors are expanding outside the traditional “classify-extract-export” box to create insights and take actions based on that data. This is a smart move by Indico, allowing it to capture more of the customer value chain and further differentiating itself from the crowded IDP pack. While the platform could handle many diverse unstructured data use cases, we also commend Indico’s decision to focus resources on the commercial insurance sector and going much deeper into solving an underwriter’s pain points.”
Alkymi announces Auto-Tagging for better data organization
Intelligent Document Processing vendor Alkymi has announced Auto-Tagging, a new enhancement to its Document Tags feature that automatically generates and manages tags for incoming documents in the Data Inbox, making it even easier to find the data needed and organize private market documents.
Docsumo receives 9 badges in G2’s Fall 2024 report for OCR and IDP
Intelligent Document Processing vendor Docsumo has announced that it has received 9 badges in software marketplace G2’s Fall 2024 report for OCR and Intelligent Document Processing. G2 badges indicate a software product’s quality and reliability. The badges Docsumo received are “Users Most Likely to Recommend”, “Easiest to Use (Mid Market)”, “Momentum Leader”, “High Performer” (Fall 2024, Mid-Market, Asia Pacific and Small Business), and “Users Love Us”.
📰Article:
The human touch in GenAI-powered Intelligent Document Processing
How can companies balance the efficiency of GenAI-powered IDP with maintaining high levels of accuracy? Are these processing systems secure? Read this article by Torsten Malchow, Chief Revenue Officer at ScaleHub, to learn how the human-in-the-loop can help.
📖Whitepaper:
Natural Language Processing (NLP): How computers and AI models understand, interpret, and generate human language
Check out the latest whitepaper by Keerti Hariharan, Product Manager at IDP vendor Alkymi, to learn how Natural Language Processing allows us humans to communicate with computers and AI models with natural human language, not just code.
💡Opinion:
The Top Challenges for IDP Vendors
What are the biggest growth challenges for Intelligent Document Processing vendors? Stay tuned for next week’s article by Dan Lucarini, Senior Analyst at analyst firm Deep Analysis, to find out. In the meantime, check out Dan’s opinion piece ‘The 4 Waves of IDP: an unstoppable AI tide’, in which he dives into the history of IDP development over the past 50+ years.
🎥Upcoming Webinars:
October 23, 2024, 11 am EST: Unlocking AI Potential: Transform Enterprise Automation with Hypercell
Join IDP vendor Hyperscience as its experts Jamie Wittenberg, Rich Mautino and Brian Weiss uncover how the latest enhancements in Hypercell, the company’s core platform, enable transformational AI at scale—leading to tangible ROI and competitive advantage.
October 29, 2024, 10 am EST: Rossum Aurora 1.5 & Copilot
Join this webinar to see the launch of IDP vendor Rossum’s latest AI engine, Rossum Aurora 1.5, and the brand new Copilot. The webinar will provide a live demonstration showcasing the latest features, including formula fields with Copilot (create custom formula fields), instant learning (document processing in 270+ languages) and fast processing of large documents (100+ pages).
October 30, 2024, 9:30 am SGT, 10:30 am CET, 1 pm EST: ABBYY Ascend
Register for ABBYY Ascend, the IDP vendor’s new event series focused on the latest AI advancements to help global organisations accelerate their digital transformation. The first Ascend event will focus on simplifying processes and accelerating success through intelligent automation, with insights from ABBYY experts Patrick “PJ” Jean, Maxime Vermeir, Slavena Hristova, Dr. Marlene Wolfgruber and Jon Knisley.
📆Upcoming Events (in-person):
October 21-24, 2024: UiPath FORWARD + TechEd 2024 in Las Vegas, US
Register for UiPath Forward for 2.5 days of learning how to use AI and automation to address your specific industry and process challenges. Also attend TechEd for 2 days of hands-on understanding of the UiPath vision for AI and automation, including its roadmap and latest features.
November 11-12, 2024: AI+IM Europe Forum in Manchester, UK
Join the AI+IM Europe Forum in Manchester, brought to you by AIIM (Association for Intelligent Information Management), to explore the transformative potential of AI in information management. This event will focus on the latest innovations, strategies and best practices in AI-driven data governance, automation and risk management.
November 20, 2024: Intelligent Automation Leaders Summit in Atlanta, US
Join Infocap as it hosts the Intelligent Automation Leadership Summit this year in the spirit of bpmNEXT. The Summit will be the same rigorous contest of ideas which has come to define its community of peers. The vibe will be collegial – yet predictably with a robust spirit of debate. No formal preparation is required, beyond organizing ideas and confirming tech requirements. More than ever the room will be full of ‘doers’ steeped in software innovation.
November 21, 2024: Agentic AI + Decision Intelligence in Atlanta, US
Following the Intelligent Automation Leaders Summit (above), join Infocap for this one-day seminar, which is ideal for decision-makers, IT leaders, operations managers, and others involved in digital transformation or business process automation. Whether you are already implementing automation or just exploring the possibilities, this session will provide practical insights and actionable strategies to help you scale and succeed.
📌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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