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:

News:

Parashift joins M-Files Solution Partner Program IDP vendor Parashift announced that it has joined the M-Files Solution Partner Program and that its Intelligent Document Processing platform is now available on the M-Files Solution Catalog. This enables M-Files customers to benefit from automated data extraction from all document types such as invoices, contracts, and many others, streamlining their document management processes, reducing manual errors, and increasing productivity. Stefan Wagner, Head of Partner Management at Parashift, said: “We are delighted to be part of the M-Files Solution Partner Program and to offer our advanced Intelligent Document Processing capabilities to M-Files users. This partnership represents an exciting opportunity for us to help more businesses automate their document processing, save process time and speed up processing time, for example, in client’s communication.”

Hyperscience introduces new feature Training Data Curator IDP vendor Hyperscience has announced its new Training Data Curator, one of the features rolling out in its latest release next week. The Training Data Curator analyzes the training data and tags the documents that are most relevant for annotation. In this way, Hyperscience customers benefit from the convenience of having to annotate less training data: Hyperscience intelligently recommends which data is important to annotate in order to create a high performing model in as few as 100 documents, significantly speeding up the deployment of production models.

ProcessMaker appoints Ed Ukaonu as Executive Director for Africa IDP provider ProcessMaker has announced the appointment of Ed Ukaonu as its new Executive Director for ProcessMaker Africa. Ed Ukaonu commented on his new role: “Joining ProcessMaker feels like the perfect fit, as their commitment to innovation, transformative technologies, and driving digital transformation aligns perfectly with my passion for spearheading growth in the African market. I am honored to lead the charge in expanding ProcessMaker’s presence across the vibrant African continent. Africa is a region brimming with immense potential, and I am genuinely excited about the opportunities that lie ahead. With its rapidly evolving business landscape and a remarkable pool of talent, Africa is on the cusp of a digital revolution.” As Executive Director, Ukaonu will work closely with the ProcessMaker team to drive strategic initiatives, foster strong partnerships and develop new growth opportunities across the continent.

AntWorks now integrates with Pega’s Email Bot IDP vendor AntWorks has announced that its Intelligent Document Processing solution CMR+ now integrates with Pega’s Email Bot. This means users can now extract data not only from fields but also from image attachments, unlocking the potential of straight-through processing with seamless workflows and enhanced customer support.

Article:

Key impressions from this year’s PegaWorld iNspire Read this article by Bruce Orcutt, Senior Vice President of IDP vendor ABBYY, to learn his key takeaways from the PegaWorld iNspire 2023 conference. In addition to the ubiquitous focus on AI, Orcutt says attendees were most interested in concrete solutions and outcomes, i.e. faster, more cost-effective, straight-through processing of documents and forms, as well as better data insights and manageability.

The complexity of developing an Intelligent Document Processing solution in-house Why not just build an IDP solution? This is a common question when it comes to data extraction, especially for software companies that have their development team in-house. However, it’s no surprise that costly mistakes are made when companies try to develop and implement data extraction capabilities in-house. Read the article to find out why, and hear what Tim Crowe, Director of Insurance Solutions at IDP vendor Eigen Technologies, has to say on the subject.

”Market your value, not your technology” Read this article by Deep Analysis’ Alan Pelz-Sharpe to learn why he sees an industry consolidation coming and what technology vendors could and should consider to survive.

Podcast:

Anant Bharadwaj’s insights on the founding of Instabase Watch or listen to this 50-minute podcast with Anant Bharadwaj, founder and CEO of IDP provider Instabase. In it, among other things, he talks about how he dropped out of MIT to start the Intelligent Document Processing company, all the way to the recent $45 million Series C funding round.

On-demand webinar:

How to leverage AI for commercial finance Watch this 48-minute webinar with IDP vendor Evolution AI, where the panellists discuss how AI-powered automation like Intelligent Document Processing can improve customer experience in commercial finance.

See you next week!


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