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:
Three IDP vendors with IDP platform updates: Metamaze introduces new model architecture, Parashift releases new platform features and Rossum unveils invoice approval workflows Metamaze has introduced Hydra, its new model architecture for IDP. With the previous architecture, Metamaze was dealing with partially annotated data by adding the data in multiple training steps and in a specific order, which is why there was an increased risk that the model would forget previously learned information. The new model architecture now solves this problem thanks to its many heads: each head of Hydra is specialized in learning a single entity. All training data is added at once, but only looked at by a particular head if the data contains information about the entity it specializes in. Parashift has released a number of new features for its IDP platform: The Table Validation Module makes editing table data easier by allowing modifications directly within the Extraction Validation. The Better Highlighting feature makes it easier to spot extraction problems. And the new Viewer offers a collapsible page preview, better zoom-in/out capabilities, and an easy way to navigate to the next page, all of which improve the overall document viewing experience. Parashift has also made some minor changes to the user interface to further improve the overall usability of its platform. Rossum has unveiled the latest enhancements to its IDP platform: With the new invoice approval workflows, accounts payable teams can further increase the speed and accuracy of their invoice processing. Teams can capture any invoice in seconds (regardless of template or language), simplify the application stack, and have direct access to relevant information related to the reviewed invoice at any time. Other key features include automatic assignment based on invoice data and external resources, full visibility of approval request assignment, an audit trail to ensure compliance and identify bottlenecks, and more.
Hyperscience delivers a DDIL platform IDP vendor Hyperscience has announced that its platform is fully deployed in a secure DDIL (Denied, Disrupted, Intermittent, and Limited bandwidth) environment. By operating seamlessly in a DDIL environment and deploying a DDIL solution, Hyperscience eliminates the need to train, fine-tune or supervise sensitive data in the cloud, which is critical to the military’s stringent security protocols and commitment to data protection. Andrew Joiner, CEO of Hyperscience, explained: “Hyperscience is disrupting the status quo by deploying enterprise AI to handle specific tasks in complex environments. We’re proving that AI can solve mundane tasks with 99.5% accuracy and automation, even in the farthest reaches of an organization. There’s no longer a need to burden valuable personnel, especially those in the military with managing paper logs and checklists. We can now leave that to AI. It’s a new frontier for all.”
Klippa and iAmaze Consultants join forces IDP provider Klippa has announced a strategic partnership with technology consulting firm iAmaze. Together, the two companies aim to improve the way businesses integrate digital scanning solutions into their operations by making Klippa’s solutions for document scanning (OCR) and automated data extraction more accessible.
AYR and CiGen partner to bring IDP to ANZ and Southeast Asia IDP vendor AYR has announced a strategic partnership with intelligent automation consulting firm CiGen. With the strong presence of CiGen in Australia, New Zealand (ANZ) and Southeast Asia and its experience and understanding of the region’s specific business requirements, the two companies aim to bring AYR’s IDP platform, SingularityAI, to more businesses in the region. CiGen will operate as a strategic platinum reseller of SingularityAI.
expert.ai and SS&C Blue Prism expand partnership Hybrid AI platform expert.ai announced that it has expanded its partnership with intelligent automation technology provider SS&C Blue Prism. Expert.ai now integrates its platform, which combines natural language understanding and processing, Machine Learning, knowledge-based AI, Large Language Models, and Intelligent Document Processing capabilities, with SS&C Blue Prism’s intelligent automation platform. In this way, bots and low-code apps can extend to more complex processes with high accuracy and lower implementation costs.
300+ Intelligent Document Processing vendors on the market?! Read this article by Deep Analysis’ Dan Lucarini on their new IDP vendor database to get a sense of what the current IDP vendor market looks like, including Dan’s key findings on the historical number of 336 IDP vendors.
See you next week!
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