Everest Group Intelligent Document Processing (IDP) – Technology Provider Landscape with Products PEAK Matrix® Assessment 2022
Recently, Everest Group released its latest PEAK Matrix® Assessment 2022 Report on Intelligent Document Processing (IDP) – Technology Provider Landscape with Products. In it, Everest Group, one of the world’s leading independent market research firms, details the key strengths and limitations of each of the IDP technology providers studied. Furthermore, Everest Group provides a comprehensive overview of the competitive landscape in the IDP technology provider market, as well as key IDP technology trends.
Everest Group’s PEAK Matrix helps buying organizations select the appropriate IDP technology provider based on their specific requirements and is a valuable benchmark for each technology provider to compare themselves against.
Everest Group uses a proprietary framework to assess the market impact and vision & capability of each IDP technology provider.
Market Impact:
Market impact is measured by Everest Group through several subdimensions, including market adoption, portfolio mix, and value delivered, which then leads to an overall score on the market impact.
Vision & capability:
To ensure the ability to successfully deliver IDP products, Everest Group identifies the vision and capability through several subdimensions, including vision and strategy, document processing capability, monitoring and improvement, implementation and support, and commercial model, which then leads to an overall score on vision & capability.
The overall assessment of market impact and vision & capability combined position the IDP technology providers on Everest Group’s PEAK Matrix®.
In the 2022 PEAK Matrix for Intelligent Document Processing (IDP) Products, Everest Group studied 36 IDP technology providers and categorized them as “Leaders,” “Major Contenders” and “Aspirants” based on their capabilities and offerings (each category is listed here in alphabetical order):
Leaders:
ABBYY, Automation Anywhere, Kofax, and WorkFusion
Major Contenders:
Alkymi, AntWorks, Appian, Celaton, Datamantics, EdgeVerve, Eigen Technologies, Ephesoft, Evolution AI, Fosfor by LTI, HCL Technologies, Hypatos, Hyperscience, IBM, Indico Data, Infrrd, JIFFY.ai, KnowledgeLake, Laiye, Microsoft, Nividous, Parascript, Parashift, qBotica, Rossum, Singularity Systems, and UiPath
Aspirants: codemantra, DocVu.AI, KoiReader Technologies, OpenBots, and Straive
In addition, based on the relative year-over-year improvements of the different technology providers, Everest Group has identified the following four IDP technology providers as the “2022 IDP Market Star Performers.”
Star Performers: Hyperscience, Indico Data, qBotica, and Singularity Systems
The Everest Group Intelligent Document Processing (IDP) Products PEAK Matrix® Assessment 2022 can be found here.
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