This RadarView addresses the need for enterprises to adopt intelligent document processing (IDP) platforms to digitize their paper-intensive workflows and gain actionable insights from unstructured data. It covers key trends shaping the market and top bets made by IDP platform providers.
The report features detailed RadarView profiles of the 16 platform providers, along with their solutions, offerings, and experience in assisting enterprises in their document processing journeys. It also demonstrates how providers are focusing on enhancing complex data extraction across multiple industries. Each profile provides an overview of the platform provider, their products and modules, and a list of clients and partnerships, along with brief client case studies. Each profile concludes with analyst insights on the provider’s product maturity, enterprise adaptability, and future readiness.
Why read this RadarView?
The IDP industry is moving towards more complex types of data extraction across multiple industries. Enterprises are focusing on increased levels of straight-through processing, which has led to the platform providers investing in advanced technologies such as artificial intelligence, machine learning, and natural language processing to reduce exceptions faced while extracting complicated objects such as logos, watermarks, and tables. These trends, and others, are covered in our Intelligent Document Processing Platforms 2022 RadarView.
The report highlights key market trends in the document processing space and Avasant’s viewpoint. It aids companies in identifying top platform providers to assist them in document processing by implementing IDP platforms. It also offers an analysis of each platform provider’s capabilities in technology and delivery support, thus enabling organizations to identify the right strategic partners for IDP.
Featured providers
This RadarView includes a detailed analysis of the following IDP platform providers: ABBYY, AntWorks, Automation Anywhere, Datamatics, EdgeVerve, EXL, HCL, Hyland, Hyperscience, Kofax, LTI, OpenText, Parascript, Sutherland, UiPath, and UST.
Methodology
The industry insights and recommendations presented are based on our ongoing interactions with enterprise CXOs and other key executives, targeted discussions with platform providers, subject matter experts, and Avasant Fellows, along with lessons learned from consulting engagements.
Our evaluation of platform providers is based on primary input from the providers, focused briefings, public disclosures, validation from their clients, and Avasant’s ongoing market interactions. The assessment is across the three dimensions of product maturity, enterprise adaptability, and future-readiness, leading to our recognition of those platform providers that have brought the most value to the market over the last 12 months.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–7)
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- Key enterprise IDP trends shaping the market
- Avasant recognizes 16 top-tier providers supporting the enterprise adoption of IDP
Lay of the land (Pages 8–17)
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- Europe is catching up with North America in implementing IDP due to the high demand for multilingual data processing
- Cloud-based IDP platform implementation is increasing due to enhanced data management and scalability
- Banking and financial services continue to be the biggest consumer of IDP platforms, followed by healthcare and life sciences and financial services
- The enterprise appetite for complex data processing is increasing industry-wide
- Cognitive tech usage is increasing across the IDP value chain to facilitate straight-through processing of documents
- Enterprises are exploring a gamut of training methods for specific use cases, but supervised learning takes the lead
RadarView assessment (Pages 18–24)
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- Methodology and coverage
- Interpretation of classification
- RadarView assessment
Platform provider profiles (Pages 25–56)
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- Detailed platform provider profiles providing a 360-degree view for ABBYY, AntWorks, Automation Anywhere, Datamatics, EdgeVerve, EXL, HCL, Hyland, Hyperscience, Kofax, LTI, OpenText, Parascript, Sutherland, UiPath, and UST
Authors (Page 57)
Read the Research Byte based on this report.
