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:
Tungsten Automation appoints new Chief Customer Officer and forms a strategic partnership with consulting firm 11:59 Intelligent automation solutions provider Tungsten Automation has announced the appointment of Joe Olson as its new Chief Customer Officer (CCO). Joe Olson, a seasoned B2B SaaS Software Executive with more than two decades of executive leadership experience, will be responsible for overseeing all aspects of Tungsten Automation’s strategic customer lifecycle initiatives, post-sale customer support and success, professional services, SaaS cloud hosting, renewals and other operational functions. Joe Olson on his new role: “I am honored to join Tungsten Automation at this exciting juncture in its growth journey. I look forward to collaborating with the team to further elevate our customer success strategies and deliver exceptional outcomes and value for our customers.” In addition, Tungsten Automation has announced a strategic partnership with consulting firm 11:59, which aims to facilitate the transformation of organizational processes. Noel Gie, Chief Growth Officer of 11:59, explained: “Tungsten Automation is the latest addition to our partner ecosystem. We will be leveraging our professional services, migration services, and GenAI expertise to build industry-specific solutions and use cases on top of Tungsten’s TotalAgility platform.” Jeff Hartnett, SVP AMS Sales at Tungsten Automation, commented: “11:59’s commitment to unlocking the full potential of their clients’ transformation initiatives, paired with our collective track record of customer success, underscores the pivotal impact our collaboration will have in enhancing organizational agility, cost efficiency, and operational excellence. Leveraging the latest release of our flagship platform, TotalAgility 8, 11:59 provides smart automation solutions for a wide range of customer needs.”
Rossum is selected as one of Europe’s “Top 100 Next Unicorns” IDP vendor Rossum has announced that it has been selected as one of Europe’s Top 100 next Unicorns 2024 by Viva Technology, Europe’s biggest startup and tech event, and GP Bullhound, a tech advisory and investment firm. Viva Technology’s “Top 100 Next Unicorns” is a list of the 100 most promising scaleups in Europe with the potential to reach a valuation of $1 billion or more in the near future. The tech companies on the list are valued based on their actual and potential growth, total funding raised, headcount expansion, global reach and positive impact on society.
Parashift partners with adeon to enhance DMS with IDP IDP vendor Parashift has announced a partnership with IT services provider adeon. Together, the two companies aim to further increase the efficiency and accuracy of adeon’s document management solutions (DMS) by integrating Parashift’s IDP platform. Stefan Wagner, Head of Partner Management at Parashift, said: “Our partnership with adeon is a decisive step to expand the capabilities of document management systems. Our technology integrates seamlessly and enhances adeon’s solutions with more precise and efficient document type recognition and data extraction.” Simeon Zimmermann, CEO of adeon, added: “The combination of Parashift’s expertise in AI-based document processing and adeon’s knowledge in document management is the key to more efficient, automated processes. Parashift’s technology enables our customers to reduce processing times, cut costs, and minimize resource consumption.”
Automation Anywhere achieves record fourth quarter performance Intelligent automation solutions provider Automation Anywhere has announced that it has achieved record fourth quarter performance, with 50% growth compared to the third quarter and a 14% year-on-year increase in large deals. According to the intelligent automation solutions provider, the record fourth quarter result was boosted by its generative AI-powered automation solutions, large enterprise customer deals and robust sales worldwide. Mihir Shukla, CEO and Co-founder of Automation Anywhere, commented: “Our fourth quarter and full year 2024 results illustrate our ongoing ability to deliver value to our customers. This was a pivotal year for the company, building and sustaining robust growth, and achieving profitability ahead of schedule. We’re seeing more and more customers experience the tangible benefits of deploying AI and Intelligent Automation solutions at scale to help transform their business safely and securely. We have a very strong pipeline and tailwinds going into our fiscal year 2025.”
KMWorld releases its “100 Companies That Matter in Knowledge Management 2024”, including several IDP providers Publisher KMWorld has released its list of “100 Companies That Matter in Knowledge Management 2024”. KMWorld wrote: “Although the attention paid to generative AI this past year has been truly staggering, companies on the list recognize that GenAI is not the only game in town. Emerging technologies such as GenAI, coupled with enhancements to the time-tested technologies of machine learning, semantic search, natural language processing, cloud computing, knowledge graphs, and chatbots, have resulted in enormous strides in knowledge management and knowledge sharing. The list includes several IDP providers such as ABBYY, Adlib Software, Appian, Automation Anywhere, AWS, SS&C Blue Prism, expert.ai, Hyland, IBM, Kodak Alaris, Microsoft, OpenText, Tungsten Automation and UiPath.
📰Article:
Is Salesforce now tackling unstructured data? Read this article by Alan Pelz-Sharpe of analyst firm Deep Analysis to get his take on the message circulating at TrailblazerDX 2024 (Salesforce’s developer event) that enterprise software company Salesforce may be making a shift towards unstructured data, and what this implies.
🎥Upcoming Webinar:
March 26, 2024: From Data to Decisions: Empowering Enterprises with LLMs and Gen AI Register for this webinar hosted by IDP vendor Eigen Technologies and join its founder and CEO, Dr Lewis Z. Liu. You’ll gain insights into the development of Large Language Models (LLMs) and generative AI technologies and their impact on IDP, the business benefits of combining Eigen with the latest LLMs, and much more.
April 11, 2024: Hallucinations: Bug or Feature? Register for this webinar hosted by IDP vendor Cognaize and join its Founder, CTO & CPO, Vahe Andonians. You’ll gain insights on how AI is revolutionizing document processing in the financial sector, AI’s unpredictable outputs and their implications, and how to deal with hallucinations in extraction tasks.
📆Upcoming Event (mostly in-person):
March 21-22, 2024: International Conference on FOSS Approaches towards Computational Intelligence and Language Technology (FOSS-CIL T24) in Thiruvananthapuram, India This event brings together students, researchers, engineers and practitioners interested on difference aspects of Language Technologies.
March 25-26, 2024: Shared Services & GBS Select in Orlando, Florida This event is aimed at shared services, GBS and transformation executives looking for benchmarking, discussing current and future challenges and developing strategies and solutions to add value to become a cost optimizer.
March 25-28, 2024: Shared Services & Outsourcing Week (SSOW) in Orlando, Florida This event will focus on the latest trends in shared services and innovation, automation, digitization, process excellence, and the changing nature of work. Attendees will gain insights into the challenges, opportunities, and strategies for effectively navigating GBS trends to drive business growth and transformation.
April 3-5, 2024: Association for Intelligent Information Management (AIIM) Conference 2024 in San Antonio, Texas This Event will focus on the latest AI-enabled technology, practices, and trends that are transforming information management.
📌Find more upcoming events in the Intelligent Document Processing space here.
See you next week!
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