In this section, we cover news, insights and trivia about Intelligent Document Processing (IDP), share interesting articles, podcasts, reports and more.
What we cover in this week’s recap:
News:
10 analyst firms have recognized ABBYY as a leader in IDP in 2022 Intelligent process automation solutions provider ABBYY announced that ten of the leading analyst firms recognized the company as a leader in Intelligent Document Processing in their reports last year. ABBYY’s IDP platform, Vantage, has received strong ratings in the areas of functionality, architecture, scalability, ease of use, security and customer support. Just recently, ABBYY was named an IDP leader by Quadrant Knowledge Solutions, as commented by one of their analysts, Madhu Kittur: “ABBYY is capable of catering to diverse customer needs across industry verticals. With its comprehensive capabilities, compelling customer references, comprehensive roadmap and vision, and product suite with high scalability, the company has received strong ratings across the parameters of technology excellence and customer impact and has been positioned as a leader in the SPARK Matrix: Intelligent Document Processing, 2022.” In addition, ABBYY also was named a top vendor in the Process Mining space in 2022 by four of the analyst firms.
Acodis closes CHF 6m Series A funding round IDP vendor Acodis announced that it has raised CHF 6 million in a Series A funding round, led by Swiss venture capital firm VI Partners and European B2B venture capital fund Hi Inov. The Swiss AI company will use the new funds to further expand its position in the pharma and health sector through its no-code Intelligent Document Processing platform. CEO and Co-Founder of Acodis, Martin Keller, said: “The financing is a clear sign of Acodis’ market relevance and the value we provide to our customers. We note an accelerating demand from enterprises to unlock unstructured data from documents for business process automation and for enabling data analytics initiatives.”
Kanverse.ai launches Kunzite Release IDP vendor Kanverse.ai announced that it has launched Kunzite Release, introducing a new insurance claims processing product, new dashboard features for AP teams in its AP invoice automation product, handwriting recognition, and use cases for KYC (passports, IDs) and KYB (financial statements) documents. Dr. Akhil Sahai, Chief Product Officer of Kanverse.ai, commented: “With the Kunzite release, Kanverse enables enterprises to Hyperautomate their document processing heavy workflows. The release brings zero touch document processing experience to new markets and teams.”
Article:
How CEOs can prepare for increasingly difficult times and how they even represent an opportunity Read this article by Ulf Persson, CEO of IDP provider ABBYY, on why he believes investing in the team should be the foundation of any leadership strategy. From the perspective of an intelligent automation solutions provider, he also explains how the challenging economic times actually represent an opportunity for businesses. Ulf Persson continues by explaining the importance of improving the customer experience and why the strategy of identifying new opportunities with existing partners and investing in new partnerships has never been more important.
Interview:
Where is mortgage lending headed in 2023 and beyond? In this interview with Shannon Johnson, program manager at digital lending solutions provider Tavant, you’ll learn that she believes a prosperous digital mortgage era lies ahead, largely because technologies like Intelligent Document Processing are more accessible. That said, she also sees room for improvement, such as greater involvement of the everyday user. She goes on to explain why she believes a lender needs a thorough understanding of its target audience and must not forget the importance of the technology being used by humans.
Report:
Why the balance between AI and human intelligence is critical to the health of an organization Read this report from Deep Analysis to get a somewhat different perspective on how companies should think about AI. The advisory firm defines “work intelligence” as an equal partnership between human and artificial intelligence. Deep Analysis sees work intelligence as a critical factor for companies in defining, operating and improving business processes.
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