Intelligent Document Processing News: Weekly Recap

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 Intelligent Document Processing recap:


Kofax acquires Ephesoft Intelligent automation solutions provider Kofax (backed by Clearlake Capital and TA Associates) announced August 18 that it has acquired Intelligent Document Processing vendor Ephesoft. With this acquisition, Kofax aims to expand its position in the intelligent automation software market.

OpenBots with launch of new platform version The zero-bot licensing company OpenBots has announced a new launch of its platform to help organizations get started with enterprise automation. Now included in all enterprise plans is OpenBots Documents, its SaaS-based Intelligent Document Processing solution.

AntWorks enhances IDP solution on Pega Marketplace CRM+, AntWorks’ Intelligent Document Processing solution that can handle a wide range of complex documents, has been optimized for the Pega environment on the Pega Marketplace. Pega customers can now easily access AntWorks’ CRM+.

Veryfi with 750% year-over-year growth Data extraction and transformation platform Veryfi has reported 750% year-over-year growth in its OCR API platform usage. These numbers, among other factors, may indicate that companies are achieving better time-to-value with Intelligent Document Processing than with Robotic Process Automation alone.


Interesting take on Kofax’s acquisition of Ephesoft Read market analyst Ralph Gammon’s perspective on the breaking news about Kofax’s acquisition of IDP vendor Ephesoft, including a brief overview of Ephesoft’s history and why he thinks the sale of Ephesoft may come at just the right time.

Notifications in Intelligent Document Processing When processing large volumes of documents with IDP, it is important to keep track of the different stages the document goes through in order to be able to react when needed. Here are five valuable notifications in IDP for different areas and the key benefits.

Outsource IDP or manage it yourself? Read this article by Lewis Liu, CEO and co-founder of IDP provider Eigen Technologies, to learn what he thinks about whether you should handle your own Intelligent Document Processing or outsource it. Plus, using the film The Big Short as an example, he explains how IDP could have potentially prevented the 2008 financial crisis.

Upcoming webinar:

How to accelerate efficiency by 200x Join this webinar on August 23, 2022 to learn how AI-driven Intelligent Document Processing can increase efficiency 200x by reducing document extraction time to a fraction.

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