Parashift has been named a leader in SPARK Matrix™ IDP 2022

Parashift’s recognition as a Leader by consulting and advisory firm Quadrant Knowledge Solutions comes just one year after it was positioned as a Challenger in the last report. Parashift receives strong ratings in the technology excellence and customer impact parameters.

Parashift, an Intelligent Document Processing vendor, announced December 15 that it has been named a technology leader by advisory and consulting firm Quadrant Knowledge Solutions in its SPARK Matrix™: Intelligent Document Processing (IDP) 2022. According to the research firm, Parashift’s “comprehensive capabilities, compelling customer references, comprehensive roadmap and vision, robust cloud-native platform, and highly scalable product suite” have led to its position as a technology leader.

Quadrant Knowledge Solutions SPARK Matrix analysis offers a snapshot of key market participants and a visual representation of market participants. It offers strategic insights on how each vendor ranks related to their competitors based on their respective technology excellence and customer impact parameters.

This year’s SPARK Matrix includes the following IDP vendors (in alphabetical order): ABBYY, Alkymi, AntWorks, Appian, Automation Anywhere, Celaton, codemantra, Datamatics, EdgeVerve, Eigen Technologies, Grooper, HCL Technologies, IBM, Indico Data, Infrrd,, KnowledgeLake, Kofax, Laiye, Microsoft, OpenBots, Parascript, Parashift, qBotica, Rossum, Straive, UiPath, UST, and WorkFusion.

Madhu Kittur, Analyst at Quadrant Knowledge Solutions, said: “Parashift is capable of catering to diverse customer needs across industry verticals. Parashift’s proprietary Document Swarm Learning offers autonomous document extraction capabilities enabled with intelligent AI Models, through a cloud-native enterprise-grade SaaS platform. The platform offers an intuitive UI, promoting seamless integration capabilities across business applications by making use of APIs and pre-built connectors. It is further powered by the proprietary swarm AI which ensures the re-use of machine learnings and configurations, along with the creation of new use-cases.”

Alain Veuve, founder and CEO at Parashift, commented on the recognition: “We are thrilled that Parashift has been named a leader in Intelligent Document Processing just 20 months after the public product launch. We will continue to invest heavily in building the most versatile cloud-native IDP solution based on the fastest growing and most diverse data network in the document space.”

Parashift, headquartered in Sissach, Switzerland, offers a cloud-native Intelligent Document Processing (IDP) platform. With its proprietary Document Swarm Learning technology, the deep-tech company takes an innovative approach as AI models are trained at the field level and across all use cases.

The full press release can be found here and Quadrant Knowledge Solutions’ SPARK Matrix report can be downloaded here.

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