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:
natif.ai partners with amotIQ solutions to increase efficiency for manufacturers with SAP systems IDP vendor natif.ai has announced a strategic partnership with amotIQ solutions, an expert in automating systemic processes for manufacturing clients using SAP. By combining natif.ai’s innovative AI-based document automation solutions with amotIQ solutions’ expertise, the two companies aim to create synergies that offer significant benefits to manufacturing companies with SAP systems. Mats Hoefler, Co-Founder and CRO at natif.ai, commented: “Partnering with amotIQ solutions is a significant step in completely redefining how businesses manage document management in connection with SAP processes.”
Parashift partners with business process digitization specialist Faigle IDP vendor Parashift has announced a partnership with business process digitization specialist Faigle. As a result of this collaboration, Faigle will now install, configure and distribute Parashift’s cloud-native Intelligent Document Processing solution. Thomas Knell, Product Manager at Faigle, commented: “Having a partnership that leverages AI and machine learning in the cloud to address document processing challenges, with a strong alignment with Faigle’s market, is a valuable asset. Parashift’s advanced cloud-based solution boasts impressive classification and extraction capabilities, offering seamless integration through REST API. This compatibility makes it ideal for use with other cloud technologies, such as the Microsoft low-code/no-code power platform, enabling efficient automation of business processes.”
TCG Process introduces its latest DocProStar release Intelligent process automation company TCG Process has announced DocProStar 2023.1, its latest release to accelerate document-centric processes. DocProStar 2023.1 focuses on process development, integration, and cloud readiness. It offers improvements in process modeling, support for SSO across all applications, improved usability through UI enhancements, and increased scalability for enterprise-wide adoption. Patrick Ulrich, CTO of TCG Process, commented: “DocProStar 2023.1 makes it even easier for cross-functional teams to deliver successful automation projects. The additional agility that we’ve created will enhance both employee and customer experiences through faster, more intuitive process development improvements.”
expert.ai partners with Duck Creek Technologies AI company with its hybrid natural language platform, expert.ai, has announced a partnership with intelligent solutions provider Duck Creek Technologies. Thanks to this collaboration, expert.ai’s natural language capabilities are now integrated into Duck Creek’s platform, helping insurers read, understand and extract essential data from medical and accident reports and submissions, score risk engineering reports and triage claims. Walt Mayo, CEO of expert.ai, said: “By combining powerful natural language capabilities and pre-trained insurance enterprise language models, we help insurers reduce costly upfront training requirements and provide rapid time to value. We are excited to bring our unique features and approach to deliver faster, scalable and more effective AI solutions to automate claims and underwriting workflows to the Duck Creek ecosystem.”
UiPath introduces new features for its business automation platform IDP vendor UiPath has announced the 2023.10 platform release with a range of new features. These include enhancements that increase productivity by leveraging the combined power of Gen AI and Specialized AI. In addition, UiPath Document Understanding has been significantly enhanced to provide a better experience when creating and monitoring processes. The integration of Gen AI extraction, classification and model pre-labeling has resulted in an 80% acceleration of model training, further increasing efficiency.
Report:
HFS Research releases its 2023 HFS Horizons Intelligent Document Processing report Research and technology analyst firm HFS Research has published its HFS Horizons: Intelligent Document Processing Products, 2023 report. In it, HFS Research examined 26 Intelligent Document Processing vendors and rated them accordingly in the three HFS Horizons (each Horizon is in alphabetical order): Horizon 1 (Disruptors): Datamatics, Infinia ML, KnowledgeLake, Parascript and qBotica. Horizon 2 (Enterprise Innovators): Appian, Botminds.ai, Kofax, Laiye, Newgen, Nividous, ObenBots, Parashift, SS&C Blue Prism and WorkFusion. Horizon 3 (Market Leaders): ABBYY, AntWorks, Automation Anywhere, Automation Hero, AYR.ai, Google Document AI, Hyperscience, Pegasystems, Power Automate (Microsoft), Rossum and UiPath.
IDC publishes its 2023 Intelligent Document Processing MarketScape report Market research firm IDC has published its MarketScape: Worldwide Intelligent Document Processing Software 2023-2024 Vendor Assessment. IDC uses a research methodology based on both qualitative and quantitative criteria to present the position of each vendor in the IDP market in a single graphical illustration, resulting in this year’s nominations: Major Players (in alphabetical order): Adobe, Alkymi, Altilia, AntWorks, Appian, AWS, Datamatics, DocDigitizer, EdgeVerve Systems, IBM, inovoo, Kodak Alaris, Metamaze, Papyrus, Parascript, Retarus and Veryfi. Leaders (in alphabetical order): ABBYY, Google, Hyland, Hyperscience, Infrrd, Kofax, Microsoft, OpenText, Rossum, SER Group and UiPath.
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