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:
Roboyo expands its global footprint to Singapore Hyperautomation professional services company Roboyo has announced its expansion into Singapore. This positions the company well to serve the entire APAC region. The new office will be led by John Adamek, Director Process Mining and Excellence. Nicolas Hess, Co-Founder and CEO of Roboyo, explained: “Singapore’s position as a hub of innovation and digital transformation makes it ideal for Roboyo’s hyperautomation solutions. Under John’s leadership and with our dedicated team, we look forward to empowering Singaporean businesses to unlock unprecedented efficiencies and drive next level digital transformation. This expansion reaffirms our commitment to providing world-class solutions tailored to the unique needs of each market we serve.” Roboyo, which maintains partnerships with IDP vendors like Automation Hero and Parashift, among others, now has a presence in 24 cities across 15 countries and 4 continents with its new Singapore base.
ancora Software partners with Shamrock Solutions IDP provider ancora Software has announced a strategic partnership with business process automation integrator Shamrock Solutions. Under the partnership, the two companies will offer advanced invoice processing solutions through Shamrock’s Freedom AP platform, leveraging ancora’s Intelligent Document Processing expertise to streamline operations and enhance efficiency. Nick Bova, VP of Sales and Marketing at ancora Software, said: “We are thrilled to enter into this partnership with Shamrock Solutions, as it represents a significant stride towards our goal of making intelligent document processing accessible to a wider range of businesses. The combination of our invoice automation technology with Shamrock’s expertise in business process integration and the presence of their Freedom platform will undoubtedly result in transformative solutions for businesses across North America.”
ABBYY becomes intelligent automation partner of Arsenal Women Intelligent process automation solutions provider ABBYY has announced that it has joined Arsenal Women as its first official intelligent automation partner. In addition to collaborating on sports, social and education programs focused on technology education, career development, and positively impacting the lives of young people in local communities, ABBYY will also work with Arsenal to implement AI solutions across the club to streamline and optimize tasks such as document processing.
UiPath reports financial results for its second quarter fiscal 2024 Enterprise process automation company UiPath has announced financial results for the second quarter fiscal 2024. Highlights (besides being named a Leader and the only Star Performer in Everest’s 2023 Intelligent Document Processing report) include a 19 percent year-over-year increase in revenue ($287.3 million) and a 25 percent year-over-year increase in ARR ($1.308 billion). Rob Enslin, Co-Chief Executive Officer of UiPath, commented: “We delivered second quarter fiscal 2024 ARR growth of 25 percent while executing on our strategic initiatives and driving operational excellence across the company. I am energized by the excitement around our continuous investments in AI which are driving business outcomes for our customers. Looking to the second half of the year, momentum is building across the business as customers recognize the need for efficiency in the current operating environment and the long-term structural advantages of automation.”
Are process automation vendors taking business away from pure-play IDP vendors? Speaking of UiPath and its remarkable growth in the second quarter of fiscal 2024, the process automation vendor is also (or precisely for that reason?) making waves with its IDP solution. As Deep Analysis’ Dan Lucarini explains, Intelligent Document Processing from process automation vendors, including UiPath, is the fastest growing segment of the IDP market. What does this mean for the market as a whole? Read Dan’s article on this topic.
See you next week!
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