Intelligent Document Processing News: Weekly Recap

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:


Instabase appoints Deepak Sharma to its advisory board to drive expansion efforts in India IDP vendor Instabase has announced the appointment of Deepak Sharma to its advisory board. Deepak Sharma, who most recently served as President and Chief Digital Officer at Kotak Mahindra Ban, is a seasoned executive with more than two decades of experience in digital strategy and expertise in the Indian market. According to Instabase, this will be critical to the company’s growth in leveraging new technologies and fostering relationships with India-based IT integrators. Deepak Sharma commented on his new role: “I am excited to join Instabase and contribute to its mission of transforming unstructured data into actionable insights. India presents immense opportunities for digital innovation, and I look forward to helping Instabase navigate this vibrant market, build strategic partnerships, and drive growth.” Anant Bhardwaj, Founder and CEO of Instabase, said: “We are thrilled to welcome Deepak Sharma to the Instabase tribe. Deepak’s unparalleled expertise in digital strategy and his profound understanding of the Indian market make him an invaluable addition to our advisory board. His insights and guidance will be crucial as we continue to expand our footprint in India and deliver innovative solutions tailored to this dynamic region.”

ABBYY appoints Chief Information Security Officer to lead InfoSec initiatives IDP vendor ABBYY has announced the appointment of Clayton C. Peddy as its Chief Information Security Officer (CISO). The former Chief Security Officer at OutSystems has more than two decades of experience in cybersecurity, software development, architecture consulting and digital transformation. At ABBYY, he will lead the company’s infosec initiatives to ensure the company continues to maintain the highest standards of data protection, regulatory compliance and innovation for its customers. Clayton C. Peddy commented on his new role: “I am thrilled to join ABBYY, a company recognized for its leadership in intelligent document processing and processing mining, and a reputation for delivering significant value to customers. I look forward to collaborating with the talented team to ensure that security remains not just a priority, but the driving force in our development of secure AI solutions. Customer trust is our foundation, and I am dedicated to setting new benchmarks in information security within the industry.”

Datamatics gets recognized amongst ‘India’s Top 500 Value Creators 2023’ by Dun & Bradstreet IDP provider Datamatics has announced that it has been recognized by data and analytics provider Dun & Bradstreet amongst ‘India’s Top 500 Value Creators 2023’. Datamatics was recognized for creating long-term value for its stakeholders beyond financial growth and for outperforming in the areas of business productivity, resilience and sustainability. Rahul Kanodia, Vice Chairman and CEO of Datamatics, commented: “We are happy to be recognized by Dun & Bradstreet, amongst ‘India’s Top 500 Value Creator 2023’. It is a recognition to the value we have created for all our stakeholders, as well as our outstanding corporate performance over the years. We are committed to enable enterprises go deep in digital to create operational efficiency, superior customer experience and a sustainable competitive advantage. I take this opportunity to thank all our stakeholders, including employees, customers and shareholders, for being an integral part of our journey.”

UiPath integrates UiPath Business Automation Platform with Microsoft Copilot IDP vendor UiPath has announced an integration between the UiPath Business Automation Platform and Microsoft Copilot for Microsoft 365. This will enable joint customers to automate their end-to-end business processes with employees directly in Teams. For instance, loan officers can process loan applications directly through Teams by requesting a summary of loan applications received, asking UiPath to submit them for approval and perform the necessary background checks for clients. Graham Sheldon, Chief Product Officer at UiPath, explained: “Our collaboration with Microsoft integrates UiPath automations to enable potentially millions of Microsoft users to extend the power of automation within Microsoft Copilot by accessing GenAI and specialized AI models from UiPath. We strive to accelerate human achievement through our end-to-end automation platform that enables any knowledge worker to automate processes, any developer to produce richer user experiences, and any business to foster transformed digital workspaces with AI and automation.”

Cogent Labs releases new version of its AI OCR “SmartRead” (JP only) AI technology solutions provider Cogent Labs has announced the latest version of “SmartRead”, its IDP solution. With this release, Cogent Labs integrates its generative AI technology, a fully proprietary technology specialized for reading Japanese documents. This enables “SmartRead” to deliver more accurate reading results and read documents with various atypical structures without the need for complex configurations beforehand.

Parashift joins forces with msg for banking to drive digital transformation IDP vendor Parashift has announced a partnership with msg for banking ag, a provider of IT and consulting solutions for the banking industry. Through this strategic partnership, the two companies aim to drive digital transformation and support organizations with next-generation document processing solutions. wins Silver Stevie Award for innovation in insurance, an AI company with its hybrid natural language (NL) platform, has announced that its platform for insurance has won a Silver Stevie Award in the Insurance Solution Category in the 2024 American Business Awards. Keith C. Lincoln, CMO of, commented: “We are proud of this recognition honoring the work of our team to continue to build innovative AI solutions that provide unequalled value for insurers. While there is significant buzz in GenAI within insurance, it is appropriate to be recognized for our innovative approach that focuses on results and value. Having worked with many of the world’s largest insurance companies on numerous implementations, we have deep experience helping insurers leverage practical AI to streamline their processes and transform their businesses.”

ProcessMaker with Spring Release of its automation platform IDP provider ProcessMaker has announced the Spring Release of its generative AI automation platform. The latest release includes FlowGenie (powered by ProcessMaker’s AI engine), a design module that enables business process owners to create reusable prompts that can find information, extract data, generate data and insights.


The 4 Waves of IDP: an unstoppable AI tide Read the latest opinion piece by Dan Lucarini, senior analyst at analyst firm Deep Analysis, to learn more about the history of the development of Intelligent Document Processing over the last five decades and the impact of AI technology, culminating in generative AI (what Deep Analysis calls the 4th wave).

🎥Upcoming Webinar:

May 28, 2024: Process automation in logistics (DE only) Register for this upcoming webinar hosted by IDP vendor Parashift to learn how transportation and logistics companies can use modern technology to automate document-centric processes, reduce staff workload and increase customer satisfaction.

📆Upcoming Events (mostly in-person):

June 4-6, 2024: InsureTech Connect (ITC) Asia in Singapore This event brings together the best minds in the insurance industry, from CEOs of global insurers to start-up founders, to exchange insights and trends in the insurance market.

June 5-6, 2024: SuperAI: Where AI meets the World in Singapore This event brings together industry leaders, heads of state, entrepreneurs and renowned researchers to explore and unveil the next wave of transformative AI technologies.

June 10-11, 2024: SwissText 2024 in Chur, Switzerland This event will bring together text analytics experts from industry and academia. It is organized by the Swiss Association for Natural Language Processing (SwissNLP) in collaboration with local universities and the Zurich University of Applied Sciences (ZHAW).

📌Find more upcoming events in the Intelligent Document Processing space here.

See you next week!

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