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:
Datamatics’ IDP solution now available in Microsoft Azure Marketplace IDP vendor Datamatics has announced that TruCap+, its Intelligent Document Processing platform, is now available in the Microsoft Azure Marketplace. This allows TruCap+ customers to seamlessly license their software in the environments they use. At the same time, Microsoft Azure customers can redeem their committed credits for a TruCap+ subscription. Shashi Bhargava, Executive Vice President & Head-Intelligent Automation Products at Datamatics, said: “Intelligent Document Processing landscape is evolving continuously and at Datamatics we are proud to be at the forefront of it. We have now integrated Generative AI capabilities into TruCap+ which opens many possibilities in the field of document processing. We are happy that TruCap+ is now available on Microsoft Azure Marketplace. With this, we’re poised to broaden our reach and provide our customers with TruCap+ IDP that harnesses the capabilities of Microsoft Azure.” Like many IDP vendors, Datamatics has recently added Generative AI to its IDP platform.
Rossum partners with SAP and launches certified integration for SAP S/4HANA IDP vendor Rossum has announced a strategic partnership with ERP vendor SAP, launching a certified integration with SAP S/4HANA to import SAP master data and streamline end-to-end document workflows. Thanks to this partnership, Rossum’s customers benefit from streamlined accounts payable and straight-through processing, fewer errors through automated data matching, and certified security.
Eigen Technologies wins CogX Award for best AI product in insurance IDP vendor Eigen Technologies has announced that it has won the the ‘Best AI Product in Insurance’ category at the CogX Awards 2023. The CogX Awards recognize the best-of-the-best in AI and emerging technologies across industry. Dr Lewis Z. Liu, Eigen Technologies Founder and CEO, commented: “I am extremely proud that we have retained the Best AI Product in Insurance category at the CogX Awards. It is testament to the traction and success we have in the insurance market as one of the leaders in applying AI to solve real business problems. As an ‘OG’ AI company, we have considerable experience in using technologies such as LLMs safely in order to solve real business problems across insurance, finance and professional services. We have some very exciting innovations coming up and I can’t wait to see how they take the market forward.” This is the second year in a row that Eigen Technologies has won the ‘Best AI Product in Insurance’ category.
Infinia ML gets acquired by Aspirion IDP vendor Infinia ML has announced that it has been acquired by healthcare revenue cycle management provider Aspirion. Thanks to this acquisition, Aspirion is accelerating its investment in advanced intelligent automation to improve operational effectiveness, recovery rates and speed of collections for its healthcare provider clients. Infinia ML will operate as Aspirion’s research and development engine, focusing on forward-thinking AI capabilities to improve the financial performance of healthcare providers across the country. Financial terms of the deal were not disclosed.
DOConvert enters the US market IDP vendor DOConvert has announced that it is expanding into the US market, starting in Dallas, Texas. Until now, DOConvert has operated mainly in Israel. Avi Rafalson, CEO and Co-Founder of DOConvert, commented: “Our success in automating data extraction from complex documents has positioned us as a leader in the field. With our entry into the US market and a dedicated focus on Dallas, we will forge valuable partnerships and provide innovative solutions to businesses looking to cut costs.”
ancora Software introduces ancora version 9.3 IDP vendor ancora Software has announced the release of ancora version 9.3, which adds a number of new features. Among them are improved document classification and separation (eliminating the need to create complex classification models), enhanced data capture with advanced machine learning (maximizing automation rates and improving capture accuracy), and support for a variety of Asian languages.
Conference recap:
Unlocking the power of AI to drive process automation Read the recap of analyst firm Infosource’s Capture & IDP Conference, held last week in Chicago. Highlights include insights from Gary Fower on the potential of Generative AI, Andrew Pery with his insights on the risks and ethical concerns surrounding AI, and Nil Sur with insights on the evolving Fintech market and how Capture and IDP vendors can adapt to the changing landscape of financial services, and much more.
See you next week!
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