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 recap:


Singularity Systems launches new brand name and appoints new VP of Marketing The Princeton-based IDP provider announced its rebranding from Singularity Systems to AYR, using the acronym as a question meaning “Are You Ready?” This is intended to reflect the company’s forward-thinking approach to solving complex data automation challenges. In addition, AYR announced the appointment of Ryan Raiker as Vice President of Marketing as the company enters into its next phase of growth.

Kofax and Workato partner to launch Kofax’s Ephesoft Transact Intelligent automation solutions provider Kofax partners with enterprise automation platform Workato to add Kofax’s Ephesoft Transact connector directly on the Workato app directory. This new integration with Workato enables end-to-end automation for businesses and government organizations. Ike Kavas, SVP of AI & Innovation of Ephesoft at Kofax, explains: “Our IDP platform automates document-centric processes and delivers accurate data to any application, which will be fast and easy using Workato’s platform. Our goal is to help our customers and partners simplify and accelerate their automation efforts, which is what our partnership with Workato is all about.”

Alkymi raises $21M in Series A funding IDP provider Alkymi announced that it has raised $21 million in Series A funding led by Intel Capital with participation from existing investors Canaan, Work-Bench and SimCorp. With this funding, Alkymi is creating the Data Action Layer that lets business users build data actions with Alkymi.

Parascript launches new version of check recognition product IDP provider Parascript has announced the release of CheckXpert.AI 3.2. The check recognition and data extraction software finds and extracts handwritten and machine-printed text with high speed and accuracy. Highlights of this version include Multiple Image Mode, which allows input of multiple images of the same document in different resolutions, color formats and pre-processed form, and the fact that the system recognizes any type of blank field being processed.

Automation Anywhere secures $200m in financing AI-powered cloud automation platform Automation Anywhere announced that it has secured $200 million in financing. According to the San Jose, California-based company, the funding provides operational and strategic capital for the coming years to further strengthen the company’s cloud strategy. The financing comes from Silicon Valley Bank, SVB Capital and Hercules Capital.

HuLoop partners with and also partners with Wizeline AI-powered intelligent automation solutions provider, HuLoop Automation, announced two new partnerships this week: First, a strategic partnership with, a transformation mining and process intelligence company. The goal of this partnership is to enable joint customers to identify productivity improvements in business processes and implement end-to-end intelligent automation. And secondly with Wizeline, a technology service provider offering intelligent automation for retailers and software test automation. With this partnership, HuLoop provides its broad range of automation capabilities to complement Wizeline’s retail solutions and expand its software testing services business.


How UiPath is building a platform-based automation strategy Read this article by Jason Bloomberg, founder and president of Intellyx, who shares his insights and thoughts from this year’s UiPath Forward 5 conference in Las Vegas and how he sees the future of the leading automation software company.


UiPath Co-CEOs Daniel Dines and Rob Enslin in talk Recorded directly from the UiPath Forward 5 conference last week, the Co-CEOs share how they run the company on a day-to-day basis. Among other things, Daniel Dines explains how UiPath went to Japan as a small startup and built a sizeable business there, even though everyone thought it was crazy. In addition, the Co-CEOs provide a bit of insight into the future of UiPath.


First-hand insights on how an InsurTech is disrupting the insurance industry Listen to this 42-minute episode of the Intelligent Document Processing podcasts to hear from the CTO of TONI Digital, a so-called Insurance as a Service Provider, on why he believes disrupting the insurance industry requires doing more than just the technical part. He explains in detail how they are enabling companies to offer insurance products with their end-to-end product, and why even established health insurers are using TONI Digital to tap into P&C insurance.

See you next week!

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