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:
Nuvento’s IDP solution Docketry available in Microsoft Azure Marketplace Digital technology services and consulting firm Nuvento has announced that Docketry, its Intelligent Document Processing solution, is now available in the Microsoft Azure Marketplace. With this, Microsoft Azure customers worldwide now gain access to Docketry to take advantage of the scalability, reliability, and agility of Azure to drive application development and shape business strategies. At the same time, Nuvento’s customers can take advantage of the scalability and security of Azure. Ramesh Iyengar, Chief Digital Officer of Nuvento, commented: “Docketry has already proven its ability to drive remarkable efficiency gains for our customers. With its presence on the Microsoft Azure Marketplace, it becomes an even more potent tool for businesses seeking to streamline their operations.”
Straive acquires AI company Metonymize IDP provider Straive has announced that it has acquired Metonymize. With the acquisition of the Chicago-based AI company, which has developed proprietary methodology and tools to derive AI-powered insights from previously inaccessible data, Straive aims to expand its capabilities in providing core AI solutions to its customers. Namit Sureka, President and Chief Analytics & AI Officer of Straive, explained: “Innovative methodologies and tools will shape the future of data-driven insights and AI solutions. Kripa (note: Kripa Rajshekhar is Co-Founder and CEO of Metonymize) and his team have an in-depth understanding of AI and are among the leading AI practitioners in the industry. We are thrilled to welcome them to Straive.” Financial terms of the deal were not disclosed.
HuLoop Automation achieves SOC 2 Type 2 certification Intelligent software automation provider including Intelligent Document Processing (IDP), HuLoop Automation, has announced that it has successfully completed SOC 2 Type 2 audit. HuLoop completed the independent audit with support from compliance operation and certification platform Strike Graph. The SOC 2 Type 2 certification underscores HuLoop Automation’s commitment to delivering secure, reliable, and compliant software solutions. Todd P. Michaud, CEO of HuLoop Automation, said: “HuLoop’s SOC 2 achievement is a reﬂection of our ongoing commitment to operate at the highest standards of quality and compliance. Our clients can rest assured that we take their privacy and security very seriously and we are proud to meet this critical milestone.”
Three IDP vendors with product updates: Alkymi, Parashift and Docsumo Three Intelligent Document Processing vendors, Alkymi, Parashift and Docsumo, have announced product updates: Alkymi introduces Document Tags, which allows users to add a new layer of organization to their data in Data Inbox, making it easier to categorize and locate documents based on customized color-coded Tags. With this feature, users can create unique data views by filtering for one or more tags, enhancing data organization and accessibility. Parashift introduces a breakthrough in data management with the ability to train on deleted client identifying data (CID), reaffirming its commitment to privacy and compliance while driving AI innovation. Other new features include a new classification engine, more accurate and stable table and line item extraction, and improved default highlighting that makes the extraction validation process visually appealing. The update also brings a configurable recognition (OCR) threshold that provides more flexibility in data processing and validation. Docsumo also introduces a number of new features, including the ability to show and hide fields to avoid clutter and increase productivity. Drag and Drop functionality makes it easier to organize items, and Collapsible sections streamline workflows. Customers can also now control data quality with Confidence Score, customize insights with a date range filter, use keyboard shortcuts for quicker task completion, seamlessly switch between Editing and Reviewing documents, easily review lengthy field entries with Tooltips, and download reviewed documents with a single click, improving efficiency and and ease of use.
Equatd with rebranding to DBIntelab Equatd, the enterprise solution company offering its IDP solution, has announced its rebranding to DBIntelab. DBIntelab commented: “We’re thrilled to unveil our fresh look and a renewed commitment to innovation and problem-solving. Our mission remains the same – to empower businesses with data-driven intelligence. Join us on this exciting journey as we continue to redefine possibilities and create solutions that matter.”
See you next week!
🟡Get industry news distilled, every week: