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:
Hyperscience, Rossum and UiPath recognized with the 2024 Deep Analysis Innovation Award
Analyst firm Deep Analysis has announced the winners of its 2024 Innovation Award, which recognize the most innovative enterprise software providers. Deep Analysis bases its methodology on four criteria: Problem solving, applying ingenuity, adding value, demonstrating flexibility. All winners must excel in at least three criteria, whereas this year Deep Analysis focused especially on added value. Alongside ai12z and Composable, the Intelligent Document Processing providers Hyperscience, Rossum and UiPath were recognized with the Innovation Award. Randy Cairns, Senior Vice President Marketing & Communications at Hyperscience, commented: “It is very fun working at Hyperscience. We go from ideas to execution very quickly. One year ago we recognized a burgeoning opportunity to bring the back office into the age of GenAI, by training LLMs and RAG architectures with the data and documents that live inside an enterprise, and in June we launched Hypercell for GenAI. This visionary solution is generating strong market traction, including partnerships with Google Cloud and Hewlett Packard Enterprise, and market recognition. The latest accolade comes from Deep Analysis, who named Hypercell for GenAI a winner of its 2024 Innovation Awards. This is the second consecutive year that Hyperscience has won this coveted award from Deep Analysis, and is another demonstration of the depth and continuity of our innovation engine.” Rossum commented on the recognition: “Thank you for this incredible recognition, team Deep Analysis! We’re especially proud of the impact Rossum Aurora and T-LLM made in pushing the boundaries of what’s possible in document automation, and it’s an honor to see that impact recognized.” And Dan Lucarini, Senior Analyst at Deep Analysis, commented on UiPath’s latest announcements, including the ‘generative extraction experience for its Document Understanding IDP platform’: “This is 4th Wave IDP in action. And this is why UiPath was named to our coveted Innovator’s Index award.” Download the full report for free here.
Alkymi and Staple recognized as one of the ‘100 Most Innovative Fintech Startups’ by CB Insights
The two Intelligent Document Processing providers Alkymi and Staple have announced that they have been recognized by market research company CB Insights as one of the ‘100 Most Innovative Fintech Startups’. The Fintech 100 is CB Insights’ annual list of the 100 most promising private fintech companies in the world. According to CB Insights, the research team selected the winning companies based on its data sets, including business activity, industry partnerships, team strength, investor strength, number of employees, proprietary Commercial Maturity and Mosaic scores, and directly submitted analyst briefings. Alkymi was honoured in the ‘Data Extraction’ category. Harald Collet, CEO and Co-founder of Alkymi, commented: “It’s an honor for Alkymi to be recognized as one of the 100 most promising companies serving the financial services industry by CB Insights. This recognition not only validates the value realized by our clients but also the hard work of our team. It underscores the opportunity for AI to drastically transform private markets workflows and decision making.” Like Alkymi, Staple was also honoured in the ‘Data Extraction’ category. Ben Stein, CEO and Co-founder at Staple, commented: “Staple is honoured to be recognized alongside such an esteemed cohort of startups from across the world. Like many others on this list, we have worked hard to develop AI technologies that improve efficiency and data accessibility for our customers and their employees. We continue to develop automation that people truly love, while giving them the superpower to process thousands of B2B transactions per day.”
iCustoms launches iENS platform for EU ICS3 and GB safety and security declarations
Intelligent Document Processing provider iCustoms has announced the launch of its new iENS platform, designed to simplify the EU ICS3 & GB safety and security compliance process. EU ICS3 (Import Control System) is part of the EU’s customs pre-arrival safety and security program and is intended to collect data on goods entering the EU before their arrival, enhancing risk management and security. iCustoms’ iENS platform is specifically tailored for traders, logistics companies, and freight forwarders to help businesses save time, reduce costs, and ensure compliance with the latest EU and UK regulations. Adnan Zaheer, CEO of iCustoms, explained: “We’re excited to roll out our new ENS platform, designed to simplify the EU ICS3 & GB safety and security compliance process for businesses of all sizes. With our technology and expertise, we’re helping our clients stay ahead of the curve and focus on their core operations.”
💡Opinion:
The Top Challenges for IDP Vendors
Read the latest opinion piece by Dan Lucarini, Senior Analyst at Deep Analysis, in which he analyses the results of a private survey conducted by the analyst firm of 52 software companies who make intelligent document processing (IDP) products.
🎥Upcoming Webinars:
October 29, 2024, 10 am EST: Rossum Aurora 1.5 & Copilot
Register for this webinar to see the launch of IDP vendor Rossum’s latest AI engine, Rossum Aurora 1.5, and the brand new Copilot. Rossum 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 flagship launch event series focused on the latest AI advancements to help global organisations accelerate their digital transformation. The first ABBYY Ascend 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.
November 6, 2024, 4 pm CET: How a €30B German Pension Fund Leveraged AI Solutions
Register for this webinar hosted by IDP provider Cognaize to hear from the company’s experts sharing their practical experiences in successfully implementing AI solutions across various areas.
📆Upcoming Events (in-person):
November 11-12, 2024: AI+IM Europe Forum in Manchester, UK
Join the AI+IM Europe Forum in Manchester to explore the transformative potential of AI in information management. This event, brought to you by AIIM (Association for Intelligent Information Management), focuses 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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