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:
Rossum provides customers with a one-stop shop on its online marketplace IDP provider Rossum announced new enhancements to its online marketplace, including new connectors and API integration options that simplify document sorting and routing, automate business rules validation and data extraction to help customers streamline and automate workflows. Instead of complex integrations, ready-made extensions that can be implemented with a few clicks allow customers to build flexible and customizable end-to-end IDP solutions without relying on the support of software developers. Petr Baudis, Founder and CTO of Rossum, explained: “Customers can browse and access our latest IDP solutions in an à la carte fashion extending what’s currently possible in the IDP market.”
Parashift and Roboyo team up to drive process automation forward IDP provider Parashift announced a technology partnership with hyperautomation professional services company Roboyo. The combination of Parashift’s Intelligent Document Processing solution with Roboyo’s hyperautomation expertise will help Roboyo’s customers automate a variety of complex document processes, accelerating their process automation and digital transformation. Florian Friedrich, Head of Sales Engineering of Roboyo, commented: “With Parashift’s unique approach to solving document extraction challenges by utilizing Intelligent Document Processing, we found an outstanding partner to help us drive complex process automation for our customers.”
KnowledgeLake introduces a new update for its IDP platform IDP provider KnowledgeLake released the “Ontario” update and with it new capabilities that include an enhanced process automation engine and an improved customer experience. KnowledgeLake expands the process automation engine with conditional routing, looping, error handling, granular permissions and other enhancements that enable simple and complex automations across different applications and systems. Furthermore, the IDP provider also elevates the customer experience by simplifying document and data capture and providing greater visibility into the status of applications, transactions and other processes.
Kofax with new release of its workflow automation platform Intelligent automation solutions provider Kofax announced the latest release of TotalAgility (7.11), its workflow automation platform. In addition to improvements to the interface for creating workflow solutions that include orchestrating RPA bots without writing a single line of code, and DevSecOps enhancements to protect sensitive data, version 7.11 also brings improvements to the core of the platform, Intelligent Document Processing. TotalAgility 7.11 includes an enhanced AI engine with more out-of-the-box models for advanced table extraction to accelerate time to value for use cases such as financial statement and utility bill processing.
OpenBots collaborates with three solution providers Intelligent automation platform provider OpenBots announced that it is collaborating with solution providers Xpertek Contact, Roth Automation, and Intellese to develop four new digital assistants for its growing digital workforce. The new digital workers are designed to automate the inbound shipping process, AP processing, delinquent invoices, and tax cards and vesting deeds.
DocAcquire and Ubiquity Technology partner to provide enterprises with intelligent solutions IDP provider DocAcquire announced a strategic partnership with Ubiquity Technology. Together, Ubiquity Technology and DocAcquire are able to expand the range of hyperautomation services and provide enterprises with intelligent solutions for various use cases and across multiple industries. Denny Morais, Head of Automation at Ubiquity Technology, said: “DocAcquire will strategically contribute to expand the technology landscape and together, as partners, we will be able to expand the Hyperautomation service offer with a technology that allows organizations to capture and process information from documents quickly and accurately.”
DocVu.AI gets awarded by IBS Intelligence IDP vendor DocVu.AI announced that it has been recognized as “Most Innovative Analytics Deployment” by financial technology research firm IBS Intelligence for its project with Magnolia Bank. Vaibhav Gupta, Head of Products at Visionet Systems (with DocVu.AI as one of their products), commented: “This award by IBS Intelligence, second year in a row, continues to reflect the tremendous business value our customers gain from using our IDP solution. Today, I take immense pride as DocVu.AI being a fairly new solution in this competitive market has been able to stand out and has made early strides into creating sustainable impact into the financial industry.”
Article:
The future of insurance underwriting includes technologies such as IDP Read this article by Tom Wilde, CEO of IDP provider Indico Data, to learn what he thinks about the future of underwriting in insurance and why he doesn’t believe AI technologies like Intelligent Document Processing will replace underwriters, but rather help them do their job.
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