The Everest Group, a global technology consultant based in Dallas, has released its annual evaluation of intelligent document processing (IDP) solution providers. The company, which produces a “PEAK Matrix” report for dozens of technology sectors including RPA and several others related to process automation technology, named ABBYY as its leader in the space.
IDP, often integrated into RPA and intelligent automation platforms, enables organisations to extract and validate data from unstructured and semi-structured formats and use that information to automate highly manual business processes.
The Everest Group assessment ranked 36 companies that provide IDP technology either as a standalone solution or as part of an automation platform. It evaluated those firms on two axes – “market impact” and “vision and capability” – and separated them according to their position on the matrix into “aspirants,” “major contenders” and “leaders.”
In addition to the “leaders,” technology providers evaluated by Everest Group for the report include: Alkymi, Antworks, Appian, Celaton, codemantra, Datamatics, DocVu.AI, EdgeVerve, Eigen Technologies, Ephesoft, Evolution AI, FosFor by LTI, HCL Technologies, Hypatos, Hyperscience, IBM, Indico Data, Infrrd, JIFFY.ai, KnowledgeLake, Koi Reader Technologies, Laiye, Microsoft, Nividous, OpenBots, Parascript, Parashift, qBotica, Rossum, Singularity Systems, Straive and UiPath.
While Everest Group sells a version of the report on its website that includes a full market and trend analysis, the graph showing the relative positions of the companies included in the evaluation is publicly available.
“The need to improve operational efficiencies and employee productivity, achieve cost savings, and enhance employee and customer experience is driving IDP adoption among enterprises,” according to the Everest Group. “IDP products are also rapidly becoming more sophisticated in terms of their capabilities, features, and functionalities.”