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:


Parashift positioned as a leader in SPARK Matrix™ IDP 2022 Advisory and consulting firm Quadrant Knowledge Solutions announced that it has ranked Parashift as a leader in its SPARK Matrix Intelligent Document Processing 2022. According to Quadrant Knowledge Solutions, Parashift’s comprehensive capabilities, roadmap and vision, compelling customer references, robust cloud-native platform, and highly scalable product suite contributed to strong ratings in the technology excellence and customer impact parameters. Alain Veuve, founder and CEO at Parashift, commented: “We are thrilled that Parashift has been named the leader in Intelligent Document Processing just 20 months after the public product launch. We will continue to invest heavily in building the most versatile cloud-native IDP solution based on the fastest growing and most diverse data network in the document space.”

HFS releases its Market Scan on Intelligent Document Processing The research and tech analyst firm published its latest Market Scan, examining 42 current Intelligent Document Processing vendors worldwide. HFS created three data sets to show which vendors offer IDP for which use cases, which vendors cover the most popular functional areas, and which vendors cover which industry verticals, and mapped them accordingly. The prooviders considered are (in alphabetical order): ABBYY, akaBot, Amazon Textract, AntWorks, Appian, Automation Hero, Automation Anywhere, AYR, Botminds, Celaton, Codemantra, Conduent, Datamatics, DocVu.AI, Edgeverve, Eigen, EvolutionAI, Google AI (Document AI), HCL Tech, Hyland, Hypatos, Hyperscience, IBM Cloud Paks, Indico Data, Infinia ML,, KnowledgeLake, KoiReader, Kofax, Laiye, Microsoft, Nividous, Openbots, Parascript, Parashift, Pega, qBotica, Rossum, SS&C Blue Prism, Straive, UiPath, WorkFusion.

AYR joins BNY Mellon’s Accelerator Program IDP provider AYR announced that it has been selected for BNY Mellon’s Accelerator Program. The global investment firm’s program identifies emerging technology companies and, as part of that, explores opportunities in intelligent automation to leverage the value of next-generation data processing solutions. This is where BNY Mellon and AYR are newly collaborating to develop innovative solutions that address the new business challenges facing the global financial industry.

Parashift joins forces with BSI to enhance the processing of documents in the banking industry IDP vendor Parashift announced a technology partnership with CRM and CX software company BSI. The two companies will thus combine their platforms to improve the processing of complex documents and unstructured data in the banking sector with AI. Parashift’s AI technology combined with BSI’s solutions enables customers in the banking industry, and particularly with regard to the mortgage process, to automate, lower costs and significantly reduce time-to-value.

Rossum boosts IDP adoption among manufacturing and industrial customers IDP provider Rossum announced that its solution has enabled key companies in the manufacturing and industrial sectors to expand their customer relationships. Planning, sourcing raw materials, manufacturing, delivery, and returns are critical processes for manufacturing and industrial supply chain companies. Rossum’s IDP solution helps streamline these processes by automating document processing.

Laiye discloses revenue growth for the last 12 months IDP provider Laiye, with its Work Execution System (WES), announced that its customer base has seen a tenfold increase in international revenue over the past 12 months. Guanchun Wang, Chairman and CEO of Laiye, commented on the growth: “We are pleased to be able to deliver solid growth in a tightening market for tech. The Work Execution System category is at the start of its journey and we have exciting plans, including with major yet-to-be-announced partners, to drive the WES category forward over the next few years.”

Instabase with general availability of its automation platform in AWS marketplace IDP provider Instabase has announced the general availability of its automation platform in the AWS marketplace. The new offering provides customers with simplified procurement and consolidated billing, as well as streamlined access to Instabase’s automation platform and AI capabilities, improving time-to-value.

On-demand webinar:

The integration of AI solutions in clinics In this 30-minute webinar from VentureBeat, you’ll get insights into how AI is improving operations in the healthcare industry. Among the topics discussed are how AI supports financial performance and operational efficiency, how natural language processing is being used, and why healthcare organizations are best off starting with AI solutions by working with vendors and systems integrators.

See you next week!

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