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:
Parascript releases new version of its IDP solution IDP provider Parascript announced that it has released a new version of its Intelligent Document Processing solution. With FormXtra.AI 8.4, Parascript extends its solution with the following new features: multi-language support for content-free handwriting recognition in French, German, Spanish, and Portuguese; nested tables support for better recognition and extraction of data in complex tables; improvements to full-page intelligent character recognition; trainable fields based on natural language processing algorithms, and dynamic signature field location for unstructured documents. Dawn Wood, VP Sales at Parascript, commented: “Version 8.4 is huge leap forward for FormXtra.AI. Our R&D team has implemented numerous improvements to increase accuracy and efficiency when automating data extraction from traditionally difficult documents to automate. We’re excited to see the levels of accuracy achievable with documents that include a combination of handwriting and machine print alongside complex tables.”
TCG Process and RBC Group join forces IDP provider TCG Process announced a partnership with Australian technology integrator RBC Group. Trough this partnership, TCG Process integrates its IDP platform DocProStar with RBC’s cloud automation platform Docs2me, which connects multi-function devices in SMEs to automated business processes such as finance, mailroom and forms processing. In addition, RBC Group will use DocProStar to automate high volume, complex business applications, such as loans, claims, and onboarding for enterprise customers. Arnold von Büren, CEO at TCG Process, commented: “Our team is proud to enter this strategic partnership with RBC Group, which is based on shared values and a passion for creating value for customers. With a proven record of great leadership, RBC’s skilled team has a strong international reputation.”
Automation Anywhere recognized as a 2023 Great Place to Work™ AI-powered cloud automation platform Automation Anywhere announced that it has been recognized as a Certified™ Great Place to Work® for the second consecutive year. Great Place to Work® Certification™ is an important “employer-of-choice” recognition that companies aspire to achieve. Nancy Hauge, Chief People Experience Officer at Automation Anywhere, said: “We define a successful culture as one where everyone is empowered to unleash their full human potential. One reason teammates love our company is because we drink our own champagne by using our own technology – intelligent automation – to liberate people from mundane tasks to focus on more meaningful work, so they can pivot to the next big idea, build deeper customer relationships and drive business success.”
KnowledgeLake named a cloud finalist IDP provider KnowledgeLake announced that it has been named a finalist for Best Cloud Automation of the Year Award. The Cloud Awards celebrate innovators shaping the cloud industry’s future. As a finalist, KnowledgeLake made it through two rounds for offering a cloud-first end-to-end IDP solution that enables organizations to capture, process, and manage content through a single interface. The final winners of the Cloud Awards will be announced on February 14, 2023, so stay tuned.
Appian releases Connected Underwriting to help insurers IDP provider Appian announced the release of Connected Underwriting, This new prebuilt solution enables insurers to reduce time to quote, minimize risk, improve profitability and increase customer satisfaction. Sanat Joshi, SVP of Industry Products and Solutions at Appian, commented: “Improving underwriting efficiency and data-driven risk assessment is especially important in today’s economic climate. We are excited to deliver a solution that allows insurers to quote and write policies faster with the same number of resources, deliver a better customer experience, and improve their quote to bind ratio.”
Rossum appoints CMO to lead global marketing efforts IDP vendor Rossum announced the appointment of its first Chief Marketing Officer. Elena Melnikova, who joins Rossum from consumer intelligence company Talkwalker, will be the driving force behind the IDP provider’s marketing strategy. Elena Melnikova commented on her new role: “As Rossum’s first CMO, I’m excited to build out a high performing marketing team and demand generation engine, while seeing an incredible opportunity to evolve the company’s go-to-market strategy.”
Looking beyond the AI hype Read this take from Arnold von Büren, CEO at IDP provider TCG Process, to get his thoughts on the challenges using pattern-based AI technology in the Intelligent Document Processing industry and why we haven’t yet arrived in data extraction paradise.
How are insurance leaders tackling their unstructured data challenges? In this 30-minute webinar, learn from insurance companies Munich Re and Great American how they are using new technologies such as Intelligent Document Processing to process semi-structured and unstructured data, improve work and empower employees.
See you next week!
Get industry news distilled, every week: