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:
Members of seven tech companies collaborate in the “Intelligent Automation Collective” The launch of the Intelligent Automation Collective (IAC) promises to be an interesting initiative, as it involves seven technology companies from across the intelligent automation sector, each known as one of the best in its field offering a key component of an IA solution. Alongside Emergence Partners, Enate, KYP.ai, OpenDialog, RPA Supervisor and XpertRule, Intelligent Document Processing vendor AntWorks is also part of the Collective. David Poole, lead spokesperson for the IAC and Chairman of Emergence Partners, commented: “It is a fact that software vendors don’t traditionally play nicely together and leave it to the customer to fix interoperability and deployment challenges. We set up the IAC to be different; to harness the power of true collaboration and create something that works for the client and their specific challenges and opportunities.”
Data capture company YonaLink raises $6M led by Debiopharm Clinical trial software provider YonaLink announced that it has raised $6 million led by Debiopharm Innovation Fund. The funding round also included Israel’s eHealth Ventures. Ophir Shahaf, Partner at eHealth Ventures, commented: “While clinical trial data capture and management has evolved from paper to software, they are still labor-intensive and largely manual processes. YonaLink is changing the paradigm with a solution that provides true automation. This technology can be used to help reduce the burden on research sites, lower trial costs, and enable efficiencies that speed time to market for clinical trial sponsors.” YonaLink will use the funding to bring more talent to the company, expand platform capabilities, and drive its adoption among clinical trial sponsors and their clinical research organization partners.
Expert.ai with new version of its AI hybrid platform The natural language-based AI company announced that it has updated its hybrid AI platform with five new capabilities to broaden the scope of intelligent process automation at scale. One of the new features is AI-driven RPA, which integrates with UiPath, Blue Prism and Automation Anywhere and extends RPA with expert.ai’s natural language capabilities.
Kofax’s Tungsten Network was awarded by Spend Matters Leading intelligent automation software provider Kofax has announced that Kofax’s Tungsten Network has been recognized by Spend Matters as one of 50 Providers to Know in 2023. Each year, the data platform names the best companies providing procurement and supply chain solutions. Kofax’s invoice processing and AP solutions, combined with Tungsten Network’s e-invoicing platform, provide market-leading capabilities to companies around the world. Earlier this year, Kofax announced the acquisition of Tungsten Network to provide customers with even more comprehensive invoice processing and accounts payable automation solutions thanks to Tungsten’s e-invoicing capabilities.
How an insurance business can leverage automation for the underwriting process Read this article from IDP provider Instabase to learn what challenges exist in the underwriting process without intelligent automation. You’ll also learn about two key trends in the modern insurance underwriting process and what benefits insurers gain from integrating Intelligent Document Processing.
IDP can be one of the best practical AI for logistics companies Recent global events have highlighted the vulnerability of supply chains. Even as logistics companies increasingly adopt new AI technologies, deployment and time-to-value often fall short of expectations. Read this article to learn how Intelligent Document Processing can have a massive impact on supply chains while being implemented in the shortest possible time.
Gain insights into the U.S. workforce’s sentiment and understanding of automation The second annual Automation Pulse Report from IDP provider Hyperscience reveals insights from 1,000 respondents. Companies are increasingly adopting automation, and with that comes an increase in workforce openness to technology: 65% believe that introducing automation into the workplace is a good idea. As many as 86% are interested in automation technologies that reduce manual tasks to focus on higher value tasks.
How to use data-driven technology to adapt to challenging mortgage markets Rising interest rates and recession fears have created a difficult market environment for lending, making it difficult to predict how mortgage markets will perform. Join IDP provider Ocrolus for this one-hour webinar on November 17, 2022, to learn how your organization can leverage automation to adapt to challenging mortgage markets.
See you next week!
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