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Intelligent Document Processing (IDP) - Technology Vendor Landscape With Products PEAK Matrix™ Assessment 2019

Q: Discuss the main strengths that contribute to the classification of ABBYY as a leader in the PEAK Matrix™ for IDP products.

ABBYY is classified as a Leader largely due to its strong market impact and well-defined vision & capability. It exhibits a high degree of client satisfaction with its product vision and roadmap, and IDP product capabilities. ABBYY's ability to provide effective solutions that align well with business outcomes and a robust client support framework reinforce its leadership position in the IDP product space. These strengths enable it to effectively capture and serve a diverse client base, making it a market leader according to the PEAK Matrix™ .

Q: What are the anticipated trends and predictions for IDP product capabilities according to the Everest Group's assessment?

The Everest Group predicts that IDP products will continue to evolve with more sophisticated capabilities due to advancements in AI technologies such as NLP and machine learning. Trends include improved handwriting recognition and more seamless integration with enterprise systems. IDP solutions are expected to become more adaptable, allowing businesses to address diverse and complex use cases more effectively. The focus will also be on enhancing pre-trained models for common business processes to reduce implementation time and increase deployment efficiency .

Q: In what ways can IDP solutions impact enterprises across different verticals, and what are some specific use cases mentioned?

IDP solutions impact various enterprise verticals by automating data processing tasks that traditionally require manual intervention, thus improving efficiency and accuracy. Specific use cases include customer onboarding, Know Your Customer (KYC) processes, trade finance, and risk assessment for loan applications. In the BFSI sector, IDP products help in processing invoices, claims, insurance applications, and account maintenance. These solutions also offer the potential for cross-vertical application, such as in healthcare for processing patient information or legal sectors for document analysis .

Q: How does the Everest Group's PEAK Matrix™ classify IDP technology vendors, and what criteria are used in this classification?

The PEAK Matrix™ classifies IDP technology vendors into three categories: Leaders, Major Contenders, and Aspirants. The classification criteria are based on market impact and vision & capability. Market impact is determined by factors such as the number of clients, revenue base, and year-over-year growth. Vision & capability assesses the vendor's ability to deliver products successfully, considering their vision & strategy, product capabilities, and adaptability to change. Leaders have a high market impact and strong vision & capability, surpassing other categories in terms of client satisfaction .

Q: What are the main capabilities and benefits of Intelligent Document Processing (IDP) solutions as defined by the Everest Group?

IDP solutions are designed to capture data from various types of documents such as emails, text, PDFs, and scanned documents. They classify these documents and extract relevant data for further processing using AI technologies including computer vision, OCR, NLP, and machine/deep learning. The benefits of IDP for enterprises include cost savings, enhanced workforce productivity, and improved employee and customer experiences due to their ability to automate data extraction and processing. Additionally, these solutions are integrable with various internal applications and platforms without being invasive .

Q: What strategic opportunities can be identified for Datamatics to enhance its IDP software offerings based on the report recommendations?

To enhance its IDP offerings, Datamatics can focus on expanding its product roadmap with clearly defined upcoming capabilities, which can improve customer alignment and satisfaction. It should communicate these improvements proactively to its clients. Datamatics can also improve its training process for unstructured documents by providing batch-based training capabilities as out-of-the-box features. Leveraging strategic partnerships with RPA vendors could expand its reach geographically and across industries. Additionally, offering more flexible pricing and licensing models and enhancing capabilities for processing documents with handwritten elements could further strengthen its market position .

Q: What improvements are suggested for Celaton's IDP product to increase its scalability and client satisfaction?

Improvements for Celaton's IDP product include packaging common use cases like processing invoices, remittances, and orders as pre-trained solutions to enhance scalability and speed of implementation. Providing a more flexible user interface for enterprise administrators to configure new use cases without intense dependency on Celaton's consultants could also boost client satisfaction. Additionally, improving handwriting recognition to automate more diverse use cases and enabling on-premise deployments to cater to BFSI clients could broaden its appeal and increase scalability .

Q: Identify and explain potential areas of improvement for HyperScience's IDP solutions based on client feedback.

Potential improvements for HyperScience’s IDP solutions include expanding pre-trained use cases, especially for complex documents like legal or commercial loan agreements, and enhancing integration with enterprise systems by providing pre-built connectors. Enhancing the user review interface by allowing users to set accuracy thresholds for classification and field-level extraction, and improving descriptive error reporting can increase usability. Additionally, developing batch-based training capabilities for unstructured documents would significantly enhance value proposition and client satisfaction .

Q: How does Celaton's proprietary NLP and ML capabilities benefit enterprises in automating document classification and indexing?

Celaton's proprietary NLP capabilities, combined with ML-based extraction and classification algorithms, offer the ability to automate the classification and indexing of emails by comprehending the content and sentiment. This automation is beneficial for enterprises as it alleviates the manual effort and increases processing speed and accuracy of handling customer correspondence. Additionally, by understanding the context of documents, Celaton's IDP solution enhances the ability to efficiently organize and retrieve information, supporting improved decision-making processes .

Q: Explain the significance of integrating IDP solutions with downstream applications and automation platforms for enterprise operations.

Integrating IDP solutions with downstream applications and automation platforms is significant because it allows enterprises to streamline operations by seamlessly feeding processed data into systems like ERP, CRM, and SAP. This integration enables a unified workflow, reducing manual data entry errors and improving operational efficiency. Additionally, by connecting IDP solutions with automation platforms, such as RPA, enterprises can achieve higher straight-through processing rates, minimize human intervention, and derive more value from existing IT infrastructure, thus optimizing overall business processes .

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®

Intelligent Document Processing (IDP) – Technology Vendor

Landscape with Products PEAK Matrix™ Assessment 2019

Service Optimization Technologies (SOT)

Market Report – March 2019
®

Copyright © 2019 Everest Global, Inc.

We encourage you to share these materials internally within your company and its affiliates. In accordance with the license granted, however, sharing these materials outside of your organization
in any form—electronic, written, or verbal—is prohibited unless you obtain the express, prior, and written consent of Everest Global, Inc. It is your organization’s responsibility to maintain the
confidentiality of these materials in accordance with your license of them.

EGR-2019-38-R-3101
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Table of contents (page 1 of 2)

Topic Page no.

Introduction and overview 5

Summary of key messages 12

Section I: Overview of IDP software products 14

 Understanding IDP solutions 15
 Drivers for IDP adoption 16
 Types of IDP solutions 17
 Partner Ecosystem 18

Section II: IDP – Products PEAK Matrix™ 19

 Summary 20
 IDP Products PEAK Matrix™ evaluation dimensions 22
 IDP Products PEAK Matrix™ 2018-2019 23
 Market impact and vision & capability assessment of technology vendors 24

Section III: IDP market – competitive landscape 27

Section IV: Everest Group’s remarks on technology vendors 35

 ABBYY 36
 Antworks 38
 Automation Anywhere 40
 Celaton 42
 Datamatics 44
 EdgeVerve 46
 Extract Systems 48

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Table of contents (page 2 of 2)

Topic Page no.

Section IV: Everest Group’s remarks on technology vendors (continued)

 HCL Technologies 50
 Hyland 52
 HyperScience 54
 Ikarus 56
 Infrrd 58
 Kofax 60
 Parascript 62
 Rossum 64
 WorkFusion 65

Section V: IDP product capability trends and predictions 67

 IDP products – capabilities, features, and functionalities 68
 What do the latest developments in IDP products mean for enterprises? 72

Appendix 73
 Glossary of key terms 74
 Research calendar 76
 References 77

® Copyright © 2019, Everest Global, Inc.

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Contents

 Introduction and overview

 Summary of key messages

 Overview of IDP software products

 IDP – Products PEAK Matrix™

 IDP market – competitive landscape

 Everest Group’s remarks on technology vendors

 IDP product capability trends and predictions

 Appendix

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Background of the research

Everest Group defines Intelligent Document Processing (IDP) as any software product or solution that captures data from documents (e.g.,
email, text, pdf, and scanned documents), categorizes, and extracts relevant data for further processing using AI technologies such as
computer vision, OCR, Natural Language Processing (NLP), and machine/deep learning. These solutions are typically non-invasive and can
be integrated with internal applications, systems, and other automation platforms.

IDP products find a wide variety of use cases from different business functions and verticals. Adoption of IDP solutions can not only help
enterprises achieve cost savings, but also improve their workforce productivity and employee & customer experience. These products are
also rapidly evolving in the sophistication of their capabilities, features, and functionalities.

In this study, we assess IDP software products in the market that leverage AI/cognitive capabilities and are available for independent
licensing. They are offered as either platforms that allow enterprises to deploy as out-of-the box solutions using pre-built modules, or custom
solutions to the buyers with the intent of classifying and extracting data from documents.

In this study, we analyze the IDP technology landscape across various dimensions
 Everest Group’s PEAK Matrix™ evaluation, a comparative assessment of 16 leading IDP technology vendors
 Overview of IDP software products

 Competitive landscape in the IDP technology vendor market

 Everest Group’s remarks on key strengths and areas of improvement for each IDP technology vendor

 IDP product capability trends and predictions

Scope of this research

 Products: Intelligent Document Processing (IDP)

 Geography: Global

 Technology vendors: 16 leading IDP technology vendors

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Principles of Service Delivery Automation (SDA)

1
Automation – at its most basic level – must utilize technology to replace a series of human actions. Correspondingly,
not all technologies provide automation, and replacing a single human action with technology (e.g., a mathematical
equation in a spreadsheet) is not automation. At the same time, automation can be done by degrees, but some steps
will still require human interaction.

2
Much automation is already embedded in software systems (e.g., linking client information across marketing and
supply chain systems); however, because it is part of the normal feature-functionality of a system, it is generally not
considered automation, but simply a more powerful system(s).

Automation for IT is very different than for business processes:

 In IT, automating is generally addressed by improving the core functionality and is handled by the IT system

3
management tools. Further, these activities are owned by central IT, which is naturally incented to create more
efficient IT operations
 In business processes, system limitations are generally much more difficult to overcome, and they stretch across
many systems in the organization. As such, the business case for significant system change is generally
unappealing. Finally, the benefits of improved processes accrue to the business and are hard to quantify with an ROI
that can motivate central IT groups to invest their resources

4
Service delivery automation can be accomplished by combining multiple technologies. For example, traditional
Business Process Management (BPM) technologies can be further enhanced by combining them with newer User
Interface (UI) / robotic process tools. Cognitive computing, although in its infancy, represents the next horizon, as
automation not only replicates human behavioral characteristics while executing judgment-intensive IT and business
processes, but also creates the potential to spawn new businesses for IP owners and enterprises.

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Everest Group’s Service Delivery Automation (SDA) spectrum
SDA includes a spectrum of automation solutions for delivering
global services

High Low
Ability to handle Processing Ability to Context
input data type approach learn awareness Approach

Robotic Desktop Structured only Deterministic No Minimal Human

Maturity

Intelligence
Human involvement
Automation (RDA) triggers

Robotic Process Structured and Deterministic No Minimal Orchestrated

Automation (RPA) semi-structured process
automation

Autonomics Structured and Deterministic No Yes, but Distributed

semi-structured limited to its computing
computing
environment

Narrow Artificial All types of data Probabilistic Yes, but Yes, but Cognitive
Intelligence including limited to a limited to a computing
unstructured particular particular (machine
area domain learning,
deep learning,
and NLP)
Future tech

General Artificial All types of data Probabilistic Yes, across Yes, across Not available
Intelligence including multiple multiple
unstructured areas domains
and similar to
human brain
Note: In this report, we have referred to rules-based/deterministic SDA solution (i.e. RDA, RPA, and Autonomics) collectively as RPA

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The IDP supplier landscape consists of multiple players that play
varying roles

IDP landscape Focus of this research

NOT EXHAUSTIVE

IDP Independent Software

IT-BPS service providers
Vendors (ISV)

Technology vendors that offer Service providers that provide IDP

IDP solutions as a stand-alone solutions in their services portfolio –
product/solution; typically available for may or may not be available as
independent licensing stand-alone products/solutions

Source: Everest Group (2019)

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Everest Group’s SOT research is based on multiple sources of
proprietary information

Proprietary database of 16 IDP technology vendors Technology vendors covered in the analysis
The database tracks the following elements for each vendor:
 Product capabilities and software learning features
 Interoperability, monitoring, and improvement features
 Security and compliance features
 Partnerships with service providers and other technology vendors
 Support in terms of product training, maintenance, consulting, and other support services
 Availability and adoption of commercial model(s)
 Portfolio coverage in terms of industry, geography, process areas, and buyer size
 Vendor performance in terms of revenue and clients

Demonstrations and interactions with technology vendors and other industry stakeholders
 Detailed demos and interviews with IDP technology vendors for a comprehensive view of the products
 Executive-level discussions with technology vendors as well as service providers that cover:
– Current state of the market
– Opportunities and challenges
– Expected direction of movement in the industry
– Technology vendor / service provider vision and roadmap
 Executive-level discussions with industry enablers / specialist system integrators to get the buyer
perspective, and also to reaffirm the findings from other sources
 On-site as well as conference meetings with enterprise IDP buyers to understand:
– Vision and objectives
– Buying criteria
– Apprehensions and challenges
– Outcomes achieved
– Future direction

Proprietary database of 18 leading RPA technology vendors complements the research

The database tracks the following capability elements for each technology vendor:
 RPA vision and strategy, top automation solutions, their value propositions, and RPA and AI features
 Partnerships with service providers and other technology vendors
 Investments specific to RPA and AI as well as engagement & commercial models
 Portfolio coverage in terms of industry, geography, process areas, and buyer size
 Vendor performance in terms of revenue and clients

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Our research methodology is based on four pillars of strength to
produce actionable and insightful research for the industry

 Market thought leadership

 Actionable and insightful research
 Syndicated and custom research deliverables
1 2 3 4
Robust definitions and Primary sources of Diverse set of market Fact-based research
frameworks information touchpoints (Data-driven analysis with
(Function-specific pyramids, (Annual RFIs, vendor (Ongoing interactions across expert perspectives, trend
Total Value Equation, PEAK briefings & buyer interviews, key stakeholders, input from analysis across market
Matrix, and market maturity) & web-based surveys) a mix of perspectives and adoption, contracting, and
interests, supports both data vendors)
analysis and thought
leadership)

 Proprietary database on Intelligent Document Processing (IDP) capabilities of 16 broad-based technology vendors
 Large repository of existing research in IDP and RPA
 Dedicated team for IDP research, spread over two continents
 Executive-level relationships with buyers, service providers, technology vendors, and industry associations

® Copyright © 2019, Everest Global, Inc.

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Contents

 Introduction and overview

 Summary of key messages

 Overview of IDP software products

 IDP – Products PEAK Matrix™

 IDP market – competitive landscape

 Everest Group’s remarks on technology vendors

 IDP product capability trends and predictions

 Appendix

® Copyright © 2019, Everest Global, Inc.

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Summary of key messages

Everest Group classifies IDP technology vendors on the Everest Group Intelligent Document Processing (IDP)
R


Everest Group Products PEAK Matrix™ into the three Products PEAK Matrix™ Assessment 20191
categories of Leaders, Major Contenders, and Aspirants
Leaders Major Contenders Aspirants Star Performers
 The Products PEAK Matrix™ is a proprietary framework
used to assess the market impact and overall vision &
High
capability of technology vendors Leaders
Major Contenders Abbyy

(Measures impact created in the market)

 Based on Everest Group’s comprehensive evaluation WorkFusion
Kofax
framework, the Products PEAK Matrix™, 16 technology
vendors are segmented into three categories:
AntWorks

Market Impact
– Leaders: ABBYY, AntWorks, Kofax, and WorkFusion Parascript
– Major Contenders: Automation Anywhere, Celaton,
Infrrd Automation Anywhere
Datamatics, EdgeVerve, Extract Systems, Hyland, Hyland
HyperScience, Infrrd, and Parascript, Extract Systems Datamatics HyperScience
– Aspirants: HCL Technologies, Ikarus, and Rossum Celaton
EdgeVerve
HCL Technologies
 Leaders command higher overall satisfaction among Ikarus
their clients than Major Contenders and Aspirants. Rossum
Leaders’ clients are highly satisfied with their product Low Aspirants
vision & roadmap, IDP product capabilities, and their Low
Vision & capability
High
ability to help them achieve better business outcomes (Measures ability to deliver products successfully)

1 PEAK Matrix specific to IDP software products using proprietary evaluation methodology
given on next page

® Copyright © 2019, Everest Global, Inc.

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Contents

 Introduction and overview

 Summary of key messages

 Overview of IDP software products

 IDP – Products PEAK Matrix™

 IDP market – competitive landscape

 Everest Group’s remarks on technology vendors

 IDP product capability trends and predictions

 Appendix

® Copyright © 2019, Everest Global, Inc.

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Understanding Intelligent Document Processing (IDP) solutions
IDP software solutions blend the power of AI technologies to efficiently process all
types of documents and feed the output into downstream applications

IDP is any software product or solution that:

 Captures data from all types of documents (e.g., email, text, PDF, and scanned documents)
 Classifies the documents into categories
 Extracts relevant data for further processing

IDP solution

Incoming
documents

Extraction of
Data capture Classification
relevant data
Generates report on
processed data for
human verification

Powering AI Computer vision Text mining and NLP and machine

technologies and OCR machine learning / deep learning
Feeds output
(structured data)
into downstream
applications

Integrated apps ERP, CRM, and SAP Robotic Process

Integrated
via APIS legacy systems Automation (RPA)
applications

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Drivers of IDP adoption
Enterprises look to adopt IDP solutions to unlock insights from semi-
structured/unstructured data to improve operational efficiency and strategic outcomes

Reduce the overall cost of

1 processing huge volumes of data

2 Increase accuracy and speed

Drivers of IDP
adoption
Potential synergy that can
be achieved through
3 integrating IDP products with
RPA and BPM solutions

Enterprises’ intent to improve strategic

4 business outcomes beyond cost reduction
(e.g., improved customer experience)

® Copyright © 2019, Everest Global, Inc.

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Types of IDP solutions
The IDP software market majorly comprises two types of solutions: Package-based
and platform-based solutions

Types of
Package-based solutions solutions in IDP Platform-based solutions
software market

Refers to the IDP software solutions offered as Denotes the IDP software solutions offered as
package or closed solutions, where the vendors platforms, which AI-savvy enterprise users can use
or the implementation partners will predominantly to build and deploy specific use cases themselves,
oversee the customization, configuration, and or with support from the vendor or implementation
deployment of the solution partners
 Pros:  Pros:
– Dedicated resources and solutioning – Enterprises can build use cases on their own
experts can assist enterprises in deploying – Allows for experimentation with choosing
the product across complex use cases the best fit models and greater degree of
– Consistency in terms of accuracy and control
performance  Cons:
 Cons: – Given the current state of maturity and
– Inability to build new use cases or tinker scarcity of skilled resources, most enterprises
with existing ones end up having to use external support for
new use cases, thereby diluting the promise
of a platform solution

Currently, both models are viable in the market. Given the scarcity of skilled resources today, most platform solutions end up acting as package-
based solutions, except in the case of mature enterprises with dedicated data science talent.

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Partner ecosystem
The partner ecosystem consists of multiple players that support and leverage each
other

Partner ecosystem NOT EXHAUSTIVE

RPA vendors Specialist system integrators

IDP and RPA vendors partner with each Specialist system integrators offer
other and provide their clients a technical and operation support to service
wholesome automation solution providers, tech vendors, or buyers to
implement IDP solutions

Source: Everest Group (2019)

® Copyright © 2019, Everest Global, Inc.

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Contents

 Introduction and overview

 Summary of key messages

 Overview of IDP software products

 IDP – Products PEAK Matrix™

 IDP market – competitive landscape

 Everest Group’s remarks on technology vendors

 IDP product capability trends and predictions

 Appendix

® Copyright © 2019, Everest Global, Inc.

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IDP Products PEAK Matrix™ 2019 – summary

 Everest Group classifies IDP technology vendors on the Everest Group Products PEAK Matrix™ into the three categories of
Leaders, Major Contenders, and Aspirants

 The Products PEAK Matrix™ is a proprietary framework used to assess the market impact and overall vision & capability of
technology vendors

 Based on Everest Group’s comprehensive evaluation framework, the Products PEAK Matrix™, 16 technology vendors are
segmented into three categories:

Leaders

ABBYY, AntWorks, Kofax, and WorkFusion

Major Contenders

Automation Anywhere, Celaton, Datamatics, EdgeVerve,

Extract Systems, Hyland, HyperScience, Infrrd, and Parascript

Aspirants

HCL Technologies, Ikarus, and Rossum

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Everest Group PEAK Matrix™ is a proprietary framework
®

for assessment of market impact and vision & capability ™

Everest Group PEAK Matrix

High

Leaders
Measures impact created in the market

Major Contenders
Market impact

Aspirants

Low
Low High
Vision & capability
Measures ability to deliver products successfully

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Products PEAK Matrix™ evaluation dimensions
®

Measures impact created in the market –

captured through three subdimensions

Market success

Number of clients, revenue base,

YOY growth, and no. of pages Leaders
processed annually
Major Contenders

Market impact
Portfolio mix

Diversity of client base across

industries, geographies,
environments, enterprise size class
Aspirants

Value delivered

Value delivered to the client based

on customer feedback and other Vision & capability
measures
Measures ability to deliver products successfully.
This is captured through five subdimensions

Vision and strategy Product capability Monitoring and improvement Implementation and support Commercial model

Vision for the client and itself; Software learning, product Analytics and reporting Hosting options, image Progressiveness, flexibility, and
future roadmap and strategy functionalities, flexibility, capability quality requirements, training, client adoption of available
interoperability, and security maintenance, partnerships with commercial models
and compliance resellers/system integrators,
partnerships with complementary
technology vendors

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Everest Group PEAK Matrix™
®

Intelligent Document Processing (IDP) Products PEAK Matrix™ ™

Assessment 2019

Everest Group Intelligent Document Processing (IDP) Products PEAK Matrix™ Assessment 20191

High
Leaders
Major Contenders Leaders
Abbyy Major Contenders
(Measures impact created in the market)

Aspirants
WorkFusion
Kofax

AntWorks
Market Impact

Parascript

Infrrd Automation Anywhere

Hyland
Extract Systems HyperScience
Datamatics
Celaton
EdgeVerve
HCL Technologies
Ikarus
Rossum

Low Aspirants
Low High
Vision & capability
(Measures ability to deliver IDP products successfully)

1 PEAK Matrix specific to IDP software products using proprietary evaluation methodology given on next page

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Summary dashboard | Market impact and vision & capability1
assessment of technology vendors for IDP 2019
Leaders

Measure of capability: High Low

Vision & capability Market impact

Technology Vision & Product Monitoring & Implementati Commercial Market Portfolio Value
Vendor strategy capability improvement on & support model Overall success mix delivered1 Overall

Abbyy

AntWorks

Kofax

WorkFusion

1 Value delivered score and overall PEAK Matrix positioning have been negatively impacted for vendors that did not provide adequate client references
Source: Everest Group (2019)

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Summary dashboard | Market impact and vision & capability1
assessment of technology vendors for IDP 2019
Major Contenders

Measure of capability: High Low

Vision & capability Market impact

Technology Vision & Product Monitoring & Implementati Commercial Market Portfolio Value
Vendor strategy capability improvement on & support model Overall success mix delivered1 Overall
Automation
Anywhere

Celaton

Datamatics

EdgeVerve

Extract Systems

HyperScience

Hyland

Infrrd

Parascript

1 Value delivered score and overall PEAK Matrix positioning have been negatively impacted for vendors that did not provide adequate client references
Source: Everest Group (2019)

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Summary dashboard | Market impact and vision & capability1
assessment of technology vendors for IDP 2019
Aspirants

Measure of capability: High Low

Vision & capability Market impact

Ikarus

Rossum

1 Value delivered score and overall PEAK Matrix positioning have been negatively impacted for vendors that did not provide adequate client references
Source: Everest Group (2019)

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Contents

 Introduction and overview

 Summary of key messages

 Overview of IDP software products

 IDP – Products PEAK Matrix™

 IDP market – competitive landscape

 Everest Group’s remarks on technology vendors

 IDP product capability trends and predictions

 Appendix

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IDP competitive landscape – summary

 ABBYY, Kofax, Parascript, and WorkFusion process over 1 billion pages annually

 ABBYY leads the market share in insurance, healthcare and pharma, manufacturing, and travel and
logistics verticals; WorkFusion has the highest market share in the banking and capital markets vertical

 WorkFusion has found the greatest success in automating healthcare payer industry-specific procurement
and HR processes. Automation Anywhere and ABBYY lead in other functions

 While ABBYY leads in Continental Europe and Middle East & Africa (MEA) region, Automation Anywhere
and WorkFusion have found the maximum success in North America and Asia-Pacific (APAC), respectively

 Leaders enjoy higher overall CSAT than Major Contenders and Aspirants. Their clients are highly satisfied
with their product vision & roadmap, IDP product capabilities, and their ability to deliver enhanced business
outcomes

 Major Contenders are farther from Leaders in their CSAT for product vision and roadmap and IDP
capabilities

 The majority of vendors’ use cases are in industry-specific processes that predominantly include BFSI,
healthcare, and pharma-specific processes

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ABBYY, Kofax, Parascript, and WorkFusion are the leading IDP
vendors processing over 1 billion pages annually

Number of pages processed annually

(Vendors are listed in alphabetical order within each category)

More than 1
billion

100 million
to 1 billion

<100 million

 The most common use cases automated by IDP vendors include processing of invoices, purchase orders, contracts, legal
documents, healthcare claims, and financial statements
 For automating use cases that involve semi-structured documents such as invoices, remittances, and purchase orders,
enterprises prefer to adopt IDP software products that offer higher Straight Through Processing (STP) rates with the ability to
process large volumes of pages or documents in batches

Source: Everest Group (2019)

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ABBYY has the highest market share in most verticals; WorkFusion
leads the market share in banking and capital markets

Vendors with the largest share of IDP license revenue in the top six industry verticals
Top five vendors with respect to IDP license revenue (in decreasing order)

Banking & capital markets Insurance Healthcare & pharma

CPG & retail Manufacturing Travel and logistics

Source: Everest Group (2019)

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WorkFusion has achieved higher success in healthcare,
procurement, and HR functions; Automation Anywhere and ABBYY
lead in other functions

Vendors with the largest share of IDP license revenue in the top six business functions
Top five vendors with respect to IDP license revenue (in decreasing order)

Finance & accounting Banking industry-specific Insurance industry-specific

Healthcare payer industry-specific Procurement HR

Source: Everest Group (2019)

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Automation Anywhere and WorkFusion lead in North America; Abbyy
has the highest market share in Continental Europe

Vendors’ share of IDP license revenue in major geographies

Top five vendors with respect to IDP license revenue (in decreasing order)
Continental Europe
United Kingdom
North America

Asia Pacific

Middle East & Africa

Latin America

Source: Everest Group (2019)

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Leaders’ clients are highly satisfied with their product vision and
roadmap, IDP capabilities, and their ability to help them achieve
improved business outcomes

Average client satisfaction level Leaders Major Contenders Aspirants

On a scale of 1-5, 5 being the highest
Product vision Product training
Overall satisfaction Driver satisfaction1 IDP capabilities
& roadmap & support

4.4 4.3
4.2 4.1 4.1 4.2 4.1
4.0 4.0 3.9
3.8 3.8 3.7
3.5
3.3

 Leaders command higher overall CSAT than Major Contenders and Aspirants. Their clients are highly satisfied with the accuracy of their
pre-trained solutions and the business impact achieved such as greater cost savings and enhanced workforce productivity
 There is significant scope for Aspirants to improve their overall CSAT levels and the ability to help their clients achieve improved business
outcomes
 Leaders’ clients are highly satisfied with their product vision & roadmap, particularly with their focus on improving the cognitive capabilities
of their IDP products
1 Clients’ satisfaction with achieving their intended business objectives/drivers behind IDP adoption
Sample: Based on feedback collected from 33 IDP clients
Source: Everest Group (2019)

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Leaders have a heavy focus on automating industry-specific
processes that predominantly include BFSI, healthcare, and pharma-
specific use cases

Everest Group’s view of the spread of respective vendor use cases across processes

Others1 9% 6%
13% 2%
Contact center 3% 3%
3%
HR 4% 4%
Procurement 10% 5%
 Leaders have a high focus on
automating industry-specific
Finance and 41% processes in addition to F&A
20% processes
Accounting (F&A)
41%  Within industry-specific
processes, their main focus is
on banking, insurance, and
healthcare verticals
 Major Contenders are more
focused on providing pre-built
solutions for F&A processes
Industry-specific processes 53%
46%
36%

Leaders Major Contenders Aspirants

1 Others include web-based, e-commerce, self-service, document management, and IT services

Source: Everest Group (2019)

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Contents

 Introduction and overview

 Summary of key messages

 Overview of IDP software products

 IDP – Products PEAK Matrix™

 IDP market – competitive landscape

 Everest Group’s remarks on technology vendors

 IDP product capability trends and predictions

 Appendix

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Abbyy (page 1 of 2)
Everest Group assessment – Leader

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Abbyy aims to deliver document-/content-centric intelligence for enterprises by  There is scope to expand its out-of-the-box pre-trained offerings to complex
providing simplified and low code / no code user interfaces. Its FlexiCapture unstructured documents such as processing of financial statements, annual
product offers pre-trained out-of-the-box solutions for various business use cases reports, and legal documents
that include invoices and contracts processing. Abbyy has increased its research  There is opportunity to increase its share of revenue from large-sized
and development effort and plans to introduce reusable pre-trained solutions in enterprises undertaking digital transformation initiatives. Strengthening its
upcoming releases strategic partnerships with service providers, scaling up its product training and
 Abbyy spotted the opportunity for RPA and IDP integration early on and has built support resources, and leveraging its existing system integrator partners can
strategic partnerships with RPA technology vendors such as UiPath, BluePrism, help Abbyy to add more large enterprise customers to its existing client base
and several system integrators, with further plans to expand its partnership  Abbyy could increase its marketing initiatives to create greater awareness
network among enterprises about the capabilities and potential benefits of adopting its
 It has achieved significant revenue growth for its FlexiCapture product in 2018. FlexiCapture product. Investing in more thought leadership content, hosting
The majority of its revenue comes from BFSI, healthcare, travel and logistics, and webinars, and organizing user events can assist to increase its mindshare
manufacturing verticals among enterprises that have IDP requirements
 The FlexiCapture product offers a comprehensive document processing solution  While it has strategic partnerships with leading RPA vendors such as
for enterprises with a set-up console, documents ingestion, scanning, document BluePrism and UiPath, it needs to expand its support for out-of-the box
pre-processing, classification, extraction, and monitoring capabilities integration with other RPA technology vendors. Reference clients also indicated
 It has a professional, uncluttered, and easy-to-navigate GUI for business users the scope to increase its interoperability by enabling easier integration with
with features such as the ability to define validation rules and customize other RPA solutions
confidence level threshold for fields during classification and extraction  Improving its accuracy in processing handwritten documents can enable
 Its software learning features include the ability to learn through corrections made enterprises to automate more use cases such as processing account opening
by business users during manual review by automatically generating training forms and insurance applications with handwritten fields. Reference clients also
batches in the background. It also provides control for enterprise users to review opine that its handwriting recognition and processing capabilities can be
and lock certain batches or documents from training improved

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36
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Abbyy (page 2 of 2)
Everest Group assessment – Leader

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 It also provides flexibility for business users to approve the generated training sets  Abbyy could further strengthen its cognitive features of FlexiCapture product by
and improve its processing accuracy in real-time investing in developing Natural Language Generation (NLG) capabilities to be
 It has a simplified user interface for manual review with features such as the able to support use cases such as automated generation of document
ability to highlight the extracted fields that failed to meet the defined confidence summaries
thresholds and displaying error messages for performing corrections  While reference clients appreciate its accuracy of processing documents in
 The analytics console of its FlexiCapture product has feature-rich capabilities, with English, they have indicated scope for improvement in processing documents
a unified view of multiple document processing projects and customizable in other languages too such as Spanish, Chinese, and Japanese
reporting capabilities. It also provides dashboards for processing performance on  There is significant scope for Abbyy to tap into the demand for automation in
metrics such as the number of pages processed over time and integrated manual CPG & retail, high-tech, and telecom sectors
worker/operator performance with a host of metrics such as time taken to fix  Reference clients have indicated the need for smoother product upgrades
errors, number of errors fixed, and fields verified  They also expect streamlined quarterly business reviews and emphasized the
 Abbyy offers various training options for enterprises including online courses and need for Abbyy to adopt a consultative approach by proactively suggesting
classroom training targeted at different users, and also provides professional potential use cases that can be automated using Abbyy’s FlexiCapture to solve
implementation services for its clients their specific business problems
 Feedback from its reference clients consistently shows high satisfaction on ease
of use, accuracy, scalability, cognitive capabilities, and Abbyy’s openness to their
feedback and making changes to its product roadmap

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AntWorks (page 1 of 2)
Everest Group assessment – Leader

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Antworks is very clear about its vision to solve the unstructured data processing  While AntWorks has developed a knowledge base of different use cases, it has
problems of enterprises and help them achieve higher STP rates with minimal scope to further enhance them and offer as pre-packaged solutions for
human intervention. It provides an integrated intelligent automation platform, enterprises – which could help them to ease the configuration process and
AntStein with multi-format data ingestion, RPA, and proprietary ML/AI capabilities increase the speed to production
 Recognizing the need for enterprises to achieve quicker, efficient, and simplified  According to reference clients, improving its ability to quickly ensure adherence
automation implementation for document processing, it plans to provide IDP as a to their IT policies and governance could help them to accelerate AntStein’s
service via industry accelerators with plug-and-play capabilities adoption and implementation
 The platform leverages fractal science rather than neural networks for its  In our opinion, there is opportunity for AntWorks to increase the openness of its
cognitive/ML capabilities. Fractal science uses pattern recognition and self- platform and empower data scientists or ML developers to fully leverage its
similarities for learning and can be more deterministic compared to neural ML/cognitive capabilities and scale up automations. This will also help to
networks. Its reference clients highly regard its keen focus on innovating ahead of improve the visibility and potential of its platform among the external data
the market and the cognitive features of its platform scientists and developer community
 The platform’s ability to process unstructured data such as images, handwritten  There is room to improve its brand recognition and mindshare in the IDP
fields, and signatures (verification) within the documents and contextualize the market by investing in more thought-leadership, webinars, conferences, and
extracted fields through natural language modeling has helped their enterprise user events
clients automate document processing use cases such as title insurance, trade  Strengthening its partnership ecosystem with complementary technology
finance, and reading financial statements vendors and service providers could help AntWorks to leverage its market
 It has a simple and easy-to-navigate GUI for enterprises with integrated expertise and increase its client base in key verticals such as CPG & retail and
capabilities to create a new use case for document processing, train the system manufacturing. It could also assist AntWorks in establishing and growing its
for classification and extraction, manage user access controls, define business presence in geographies such as Continental Europe and Latin America
rules, and monitor the classification and field-level accuracy of robots

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38
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AntWorks (page 2 of 2)
Everest Group assessment – Leader

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 The AntStein platform is designed for both full and modular consumption, which  Providing error messages in user review for performing corrections can
provides flexibility for enterprises to leverage its RPA and IDP capabilities increase its platform’s ease of use, where reference clients have also
separately, thus minimizing any interdependencies highlighted that there is scope for improvement
 Its capability to configure the business rules to perform validation and decision  There is scope to improve the flexibility of its GUI for enterprises, with the ability
making eliminates the need for enterprises to deploy RPA robots for this purpose. to customize its skin and modify or preposition the elements of UI
Reference clients appreciate this ability to enable field-level validations or Enhancements planned in future versions are expected to include this feature
reconciliations integrating with their internal systems and databases  In our opinion, it could provide greater control for enterprise users to modify
 The software learning features of the platform include the ability to train the field-level confidence level or accuracy thresholds directly from its user
system by ingesting batches of documents with ground truths, user-based interface. Currently, the platform adjusts the confidence level based on
learning, and reinforcement learning via a feedback loop continuous learning. However, there is scope to provide options for enterprises
 Its has advanced user-based learning capability for both classification and to modify the confidence levels and accuracy thresholds for both pre-defined
extraction, with the ability for enterprises to quickly train the system by defining and newly added fields according to their business requirements
the criteria through anchors, association, expressions, lookup using a set of  Client feedback suggests AntWorks could improve its product training
keywords, and making inferences using its cognitive/ML capabilities capability. Providing online training courses and streamlining its classroom
 It has developed significant client base from BFSI and healthcare verticals for its training sessions could minimize their need for extensive support from
AntStein platform AntWorks or its partners during implementation
 Reference clients are highly satisfied with the flexibility of AntWorks to adapt to  Improving the user interface of its analytics and dashboards by providing a
their changing business requirements and proactiveness in sharing their evolving unified view of both manual and robot processing performance, accuracy
product vision and roadmap on a regular basis forecasts, and the flexibility to set the desired automation rates based on the
business trade-offs can greatly increase the value proposition of its platform
 Reference clients would appreciate improved product training capabilities and
shortened learning curve of its first-time users

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Automation Anywhere (page 1 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Automation Anywhere has a vision to enable end-to-end process automation for  There is scope to expand its capability beyond semi-structured use cases to
enterprises by providing integrated RPA and cognitive automation capabilities enable processing of unstructured documents, such as financial statements
 Through its proprietary IQ Bot product, it focuses on offering business-user- and legal documents, that require leveraging advanced NLP and ML / deep
friendly pre-trained solutions for a large number of use cases such as invoices, learning algorithms
purchase orders, insurance claims, and bank statements. It leverages proprietary  It could offer greater control for enterprise administrators to set up and manage
ML algorithms, fuzzy logic, and NLP for classifying and extracting fields from the accuracy thresholds by field-level within its configuration interface,
documents depending on their business requirements
 It aims to enhance the openness of its platform by developing a partner  Further, enterprise users currently require access to its enterprise RPA platform
ecosystem of AI technology vendors and system integrators. Within Automation or other RPA tools to define and manage the business validation rules for
Anywhere’s Bot Store, enterprises can download and deploy the AI robots extracted fields. In our opinion, including the feature for enterprise users to
developed by its partners for specific use cases. The partners also have the manage simple business validation rules directly from within its IQ Bot product
flexibility to create and deploy their AI robots as embedded solutions within its could add flexibility for enterprises and minimize their dependencies on
platform Automation Anywhere’s RPA platform or other RPA tools for such requirements
 It provides a simple user interface for enterprise administrators to set up use  Providing a workbench for enterprise IT users could provide more control for
cases from pre-built domains and define the fields to be extracted. It also offers enterprises to manage the training data sets and experiment on the best-fit
the ability to administrators to add new domains and fields machine learning algorithms for their use cases without extensive support from
 The tighter integration of IQ Bots with Automation Anywhere’s Enterprise RPA Automation Anywhere or its implementation partners
platform provides easier access for enterprises to its RPA platform’s features such  Client feedback suggests that there is opportunity to improve its accuracy of
as the bot creator with drag-and-drop capability to define and manage business OCR capabilities in digitizing and processing the images and text within
processes. This has contributed to its initial success in enabling process documents before classification and extraction
orchestration for its clients with a combination of RPA robots, IQ Bots, system,  Developing out-of-the-box capabilities for recognition and extraction of
and manual tasks in specific use cases such as order-to-cash handwritten fields could help enterprises to automate use cases that involve
handwritten documents processing

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40
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Automation Anywhere (page 2 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 The product offers a validation user interface, which provides the ability to  There is scope to accelerate its training process by providing flexibility for
reviewers to modify or add the missing data fields by selecting or clicking the area enterprise IT users to perform batch-based training by ingesting a sample set of
of document where information is available. It also highlights the extracted fields labeled documents
below its confidence thresholds and the missing data in the processed documents  Investing in marketing activities such as publishing more case studies and
for the required fields during user review conducting webinars co-hosted along with its IQ Bot clients and conducting
 IQ Bot, when integrated with the Automation Anywhere’s RPA platform, provides user events could increase its mindshare among enterprises for its ability to
full access to the control room features with bot creator licenses and bot runner facilitate process automation with integrated RPA and AI capabilities
licenses for managing the robots. It also offers the ability for enterprises to define  There is opportunity for Automation Anywhere to increase its IDP revenue from
and manage access controls by setting rules or permissions for enterprise users the UK and Continental Europe geographies. It could leverage its existing client
 Feedback from reference clients indicates that they are highly satisfied with base for RPA from these geographies and proactively suggest the best-fit
Automation Anywhere’s relationship management, streamlined weekly reviews complementary use cases for IQ bots to drive adoption
assessing their deployment progress, and its product support  It could improve its analytics and dashboard features with the capability to track
 They also appreciate its flexibility in adapting to their business requirements, field-level accuracy metrics of IQ bots and manual worker performance in real-
scalability, and product training capabilities time. Further, providing flexibility for enterprises to adjust the batch-level
accuracy thresholds depending on the desired automation rates could greatly
improve its value proposition

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41
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Celaton (page 1 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Celaton offers content processing solutions for enterprises through its inSTREAM  While it has demonstrated success in automating multiple use cases including
product. It leverages proprietary ML and NLP capabilities to process content in a structured and unstructured documents processing, packaging the most
variety of formats including emails, documents, and images common use cases such as processing of invoices, remittances, and orders as
 inSTREAM provides a comprehensive document processing solution for pre-trained solutions would greatly enhance its scalability and improve the
enterprises including pre-processing, classification, extraction of data fields, and speed of implementation for enterprises
updating in relevant databases and systems after manual review of exceptions  Client feedback strongly indicates that Celaton could be more flexible in
 Celaton has established strong presence in the UK and Continental Europe enabling enterprises and partners to configure new use cases without
geographies and developed a substantial client base from CPG & retail, travel and leveraging extensive help from Celaton’s implementation consultants. Providing
logistics, and manufacturing verticals a simple and easy-to-navigate user interface for enterprise administrators with
 Instream is delivered as a service on cloud, where the configuration and pre-defined fields based on workflows and the ability to modify or add new
implementation of the solution are managed by Celaton and implementation fields could improve its ease of configuration
partners. It currently follows a point-based solution model, where the  There is much scope for Celaton to increase its revenue from key IDP verticals
implementation team of Celaton or its partners customize the configuration such as BFSI and healthcare. Modifying its product architecture to provide
according to the specific business use cases. Celaton has achieved success in flexibility for enterprises to deploy its product on-premise could help to onboard
automating both semi-structured use cases such as accounts payable and new clients, particularly in BFSI – which is a leading adopter of IDP software
remittances and unstructured use cases such as customer correspondence and products
emails processing  Developing good handwriting recognition and extraction capabilities could help
 Its software learning features include the ability to ingest labeled documents with enterprises to automate a wide range of use cases that involve handwritten
historic data through batches (configured by implementation consultants) and documents processing
user-based learning via human-in-the-loop exception handling during manual
review

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42
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Celaton (page 2 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Its proprietary NLP capabilities, along with ML-based extraction and classification  Based on client feedback, it could provide more control for enterprise users to
algorithms, provide the ability to automate classification and indexing of emails by set and manage confidence level depending upon their business requirements.
understanding the context and content, as well as recognizing sentiments. This Providing a feature to display error messages for fields that require manual
has contributed to its success in automating the classifications customer review could help business users to undertake corrective actions faster.
correspondence use cases for its clients Further, it could include an out-of-the box feature for enterprise users to
 Its manual review features include the ability for operators to add the missing or configure business validation rules, both within the document and external
incorrect field by selecting the area in the document where that information is validation connecting to the IT systems or databases of enterprises
available and also searching the information from databases. It also has the ability  In our opinion, it could strengthen its product training capabilities by offering
to color code the fields based on the configured confidence level streamlined classroom courses for both business and enterprise IT users.
 inSTREAM offers a centralized dashboard for business users to monitor the Empowering its partners or resellers to also conduct training would increase
documents processing accuracy at various levels that include by batches of product awareness and adoption across potential business use cases
documents, extracted fields, and suppliers. Further, it provides a consolidated  It could develop strategic partnerships with leading RPA technology vendors to
visual view of the manual review and automated processing percentage over a explore complementary use cases and leverage their wide client base with IDP
period of time requirements. This could help Celaton to increase revenue, especially from
 Reference clients are highly satisfied with its product vision and roadmap, North America that has high demand for IDP software products
scalability, and adherence to IT governance and security standards  Reference clients would appreciate increased ease of use, greater flexibility
and ease of deployment, and availability of pre-trained solutions

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Datamatics (page 1 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Datamatics focuses on providing a suite of AI-enabled software products for  Providing packaged solutions for relatively complex use cases such as
enterprises, leveraging its expertise in delivering IT and business process customer onboarding, KYC, and trade finance processing – where it has
services to enhance their workforce productivity and customer experience demonstrated initial success in providing customized solutions for its clients –
 Its IDP product (i-Q) can process all types of documents by understanding the could significantly increase its value proposition
underlying context leveraging its proprietary ML and NLP capabilities. It has  There is opportunity to improve its roadmap for IDP products with more defined
developed its own OCR with image pre-processing capability, which can help capabilities planned for its upcoming releases. Reference clients have
enterprises enhance the quality of images, perform reorientation, and remove emphasized that Datamatics could proactively communicate its product
unnecessary content before further processing. It also provides flexibility for roadmap and incorporate their regular feedback in its product enhancements
enterprises to leverage other third-party OCR engines  In our opinion, it could enable batch-based training with sample set of labeled
 It supports integration with leading enterprise applications and databases and has documents as an out-of-the-box feature, especially for relatively complex and
the capability to directly connect with them through import and export connectors unstructured documents such as regulatory compliance and trade finance.
to ingest data and export the extracted data into relevant systems. Further, Providing this flexibility for enterprise IT users could help them to accelerate the
enterprises can leverage its complementary RPA capabilities (TruBot) to export training process
the data to their applications or databases  It could offer a setup or configuration console for enterprise admin users with a
 It provides pre-trained models for most business use cases such as invoices, simple and intuitive GUI, especially for its pre-trained modules. This will greatly
health claim forms, customer request for outward/inward remittance, and fund enhance its ease of use and provide flexibility for enterprise users to quickly
transfer request forms add or modify the fields to be extracted according to their business
 Datamatics has developed a significant client base from BFSI and healthcare requirements
verticals and a strong presence in Asia Pacific and North American geographies.  It could leverage its strategic partnerships with leading RPA technology
It has developed process expertise, particularly due to its background and vendors to access their wide client base and expand its presence in other key
experience in IT and BPS – which has contributed to its initial success in geographies such as the United Kingdom and Continental Europe
automating relatively complex use cases such as customer service requests and  Based on client feedback, there is much scope to improve its ability to process
regulatory compliance and extract documents with handwritten fields

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Datamatics (page 2 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Its knowledge management repository captures historic data and records the  Datamatics currently provides classification capabilities for relatively simple use
corrections made by the operators to continuously update the ML models. It also cases such as invoices and claims. For more complex use cases that involve
provides pre-trained models for semi-structured documents such as invoices, multiple documents embedded with large files, enterprises would require
claims processing, and specific customer requests in the banking industry. support from Datamatics to configure them as a separate step. Enabling this
Reference clients appreciate the ability of its IDP product to process a wide feature as an out-of-the-box capability could enhance its value proposition for
variety of invoices with varying formats document classification
 Enterprises can add business validation rules for fields within the document such  Client feedback indicates that Datamatics could improve its commercial model
as performing mathematical calculations for verification and simple external by providing more flexible and competitive pricing in licensing and annual
validation rules that include verifying the extracted fields against the data present maintenance costs
in external databases and systems of enterprises  It does not currently provide centralized console or dashboard to monitor the
 Reference clients are highly satisfied with its product support, integration with throughput and the documents are processed as an out-of-the box feature for
RPA and other critical systems, and the flexibility to adapt to their business enterprises. Enhancements planned in upcoming versions are expected to
requirements address this need
 Reference clients would appreciate better adherence to their IT governance
and security standards, improved running and maintenance features, enhanced
cognitive capabilities, and faster implementation

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EdgeVerve (page 1 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 EdgeVerve has a vision to solve unstructured data processing problems of  There is opportunity to expand its pre-trained solutions to other common
enterprises and differentiate itself in the market by developing its NIA AI platform business use cases that involve both semi-structured and unstructured
as an integrated solution that leverages its proprietary computer vision, NLP, and documents such as orders management, KYC, and financial statements
deep learning algorithms processing. Expanding its pre-trained models to these use cases could help
 It has a defined product roadmap, with plans to introduce capabilities such as enterprises to quickly configure and scale their deployments across different
enabling digital watermarking of training data to avoid tampering and predictive business use cases
analytics based on documents processing metrics to enable decision-making for  EdgeVerve started its commercial operations for its IDP product in 2018 and
enterprises has onboarded its initial set of clients primarily from North America. It could
 It has developed proprietary ML algorithms with parallel neural pathways that can expand its client base from North America to include United Kingdom, and
enhance the accuracy of processing the images and text. Further, it uses Continental Europe – which have witnessed higher demand for IDP software
advanced NLP and text mining approach to read and understand the context in products
documents and extract the required fields by developing associations and  There is much scope to improve its brand recognition and awareness about its
predictions product capabilities among enterprises in the IDP market. It could consider
 It has developed pre-trained models with built-in domain ontology for processing investing more in thought leadership whitepapers with case studies, user
legal contracts and provides packaged solution for invoice processing events, and webinars to create awareness about its product capabilities and the
 EdgeVerve, being a subsidiary of Infosys, has access to the professional services impact achieved by its initial set of clients
arm of Infosys. This can assist its clients to configure its pre-trained models and  Though it primarily leverages implementation and support services of Infosys, it
also automate a new use case with the help of Infosys’s data scientists could also partner with leading resellers or system integrators for IDP solutions
 Its NIA platform has the ability to classify contract documents based on intent and to aggressively expand its client base and increase revenue
also includes a case log, which can provide answers as a virtual agent to the  Developing strategic partnerships with complementary technology vendors
queries of human agents about specific parts of the document could increase the flexibility for enterprises to integrate its IDP platform with
their existing RPA, BPM, and other complementary solutions

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46
EGR-2019-38-R-3101
EdgeVerve (page 2 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 It provides four well-defined roles for the platform, which can be assigned to  Developing the ability to detect and extract handwritten fields in documents
relevant enterprise users. These include document manager to configure the could significantly enhance its value proposition. Enhancements planned in its
domains and required fields, subject matter expert to tag the sample set of upcoming versions are expected to include this capability
documents, AI engineer/developer to train the data on ML algorithms, and a  Enterprises can currently configure the business validation rules for the
reviewer to perform manual corrections after extraction extracted fields in the form of scripts through its data ingestion platform.
 Its document manager console provides the ability to enterprises to add domain Providing more flexibility for enterprise administrators to configure the validation
names and configure the fields that need to be extracted according to the rules directly from the GUI of its document manager could improve its ease of
business use case. It also provides options for enterprise administrators to set configuration and management for enterprises
and modify the confidence levels for classification and extraction depending on  There is scope to improve its product training and support capabilities by
their business requirements offering online training courses and developing partnerships with system
 The platform has comprehensive software learning capabilities with the ability to integrators or resellers to offer product training for enterprises
learn from historic data through labelled samples of documents, leveraging Deep  Providing options for business users to generate and extract customized
Neural Networks (DNN) to overcome the errors in digitized data from OCR and reports of document processing status and metrics and the ability to monitor
user-based learning through continuous feedback loop from the corrections process-level SLAs directly from the dashboard could help enterprises to derive
performed by reviewers meaningful business insights

® Copyright © 2019, Everest Global, Inc.

47
EGR-2019-38-R-3101
Extract Systems (page 1 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Extract Systems focuses on enabling automated document classification and  There is scope to leverage its expertise in healthcare and develop packaged
indexing and extraction of fields from unstructured medical documents, land pre-trained solutions for common business use cases, especially in processing
records, and legal documents for healthcare enterprises and government entities semi-structured documents such as lab reports and processing of healthcare
 It has developed a significant client base from the healthcare and government claim forms. This could help in rapidly expanding its client base within
verticals, primarily focusing on the North American market healthcare and also enter into key IDP geographies such as United Kingdom
 Extract Systems has achieved good success in automating use cases such as and Continental Europe
processing lab results and medical documents for many U.S. hospitals and  It could offer greater control for enterprise administrators to define and manage
medical institutions. Further, it has automated indexing of land records, extracting batch-level and field-level confidence or accuracy thresholds by providing a
sensitive information from legal documents in a secured manner, and updating configuration GUI depending on their business requirements. Further, providing
into downstream applications an out-of-the-box capability for enterprise administrators to define and manage
 It provides extensive support (through its own professional services or partners) to business validation rules for the enterprise user could enhance its value
its clients throughout all stages of implementation including defining the scope of proposition
work, mapping the process flow, and configuring the fields based on their needs.  Providing error messages within its user interface for the extracted fields that
Client feedback also indicates that they are highly satisfied with its expertise on require validation could increase the speed of the manual review process
automating use cases for healthcare and government vertical-specific use cases  Client feedback also suggests that they would appreciate workbench for their
and customizing its solution according to their business requirements enterprise IT users with the ability to select and identify the best-fit ML models
 Its IDP platform leverages ML and NLP capabilities to classify and extract the for use cases and control their training data sets minimizing the need for
relevant fields from documents Extract Systems’ support
 Further, it has built-in domain ontology for different types of medical documents  Strengthening the ability of its platform to accurately process and extract
such as ultrasound, CT scans, and pre-defined fields for different document types. handwritten fields from medical forms or documents would greatly improve its
This can increase the speed of configuration for healthcare enterprises and gives value proposition and help its clients, especially from the healthcare vertical, to
them the flexibility to select the type of medical documents according to their automate more use cases
needs

® Copyright © 2019, Everest Global, Inc.

48
EGR-2019-38-R-3101
Extract Systems (page 2 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Its manual review console offers the ability for business users to modify the  Providing its analytics and dashboard console as out-of-the-box capabilities
extracted fields by clicking or selecting the area in the documents and the ability along with its IDP product would increase its value proposition. This was also
to look up their existing databases to map or tag the related information such as mentioned as an area for improvement by its reference clients
order numbers with the processed documents  Developing strategic partnerships with complementary technology vendors
 It provides configuration and integration support for enterprises, and its platform is such as RPA firms could provide Extract Systems access to their wide client
typically deployed as an on-premise application within the IT architecture of base and help onboard new clients from healthcare and government verticals
enterprises. Reference clients appreciate the ability of Extract Systems to support with IDP requirements
integration with their legacy systems and applications  There is scope to improve awareness about its IDP product capabilities,
 Its security features such as the ability to redact and protect sensitive information especially in automating unstructured documents in healthcare and government
in extracted fields before review could help enterprises to automate the verticals, among enterprises in the market. It could look to invest in developing
processing of confidential documents adhering to their security and regulatory thought leadership whitepapers, webinars, and user events to increase
compliance requirements awareness in the market
 Its analytics and dashboard console provides options for business users to  Reference clients would appreciate better project management, quick access to
customize reports and set up filters to drill down into insights on specific fields or its technical experts, and improved cognitive features of the software such as
documents. Further, it also provides capabilities to monitor manual worker deep learning and advanced NLP capabilities
performance metrics and batch-level and field-level accuracy of the software
 Reference clients appreciate the accuracy of its OCR and extraction process and
its responsiveness in providing product support

® Copyright © 2019, Everest Global, Inc.

49
EGR-2019-38-R-3101
HCL Technologies (page 1 of 2)
Everest Group assessment – Aspirant

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 HCL Technologies has a vision to provide AI-enabled smart digital workforce for  It could offer greater control for enterprise administrators to set up and manage
enterprises through a suite of its software products and services. Its IDP solution, accuracy thresholds from the configuration console depending on their
Exacto, focuses on solving unstructured data problems of enterprises leveraging business requirements. Further, providing flexibility for business users to define
its ML, NLP, and computer vision capabilities and manage business validation rules for the extracted fields as an out-of-the
 Exacto uses its proprietary OCR capability, which also leverages computer vision box capability within its configuration console could minimize their
and machine learning technology with built-in domain ontology for specific areas dependencies on Exacto team and enhance its value proposition
such as trade processing, prescriptions or medical documents, contracts, and  There is opportunity for HCL Technologies to increase revenue from key IDP
invoice processing. This can help enterprises to increase the accuracy of OCR geographies such as North America and United Kingdom. It could leverage its
and enhance the image quality before further processing existing client base in F&A services delivery from these geographies and look
 HCL Technologies has developed strong expertise in F&A services delivery and for cross-selling opportunities for its Exacto product to increase revenue
this process expertise has contributed to its success in automating F&A-specific  While it has achieved initial success in automating use cases that involve
use cases such as invoice processing for a majority of its clients. It has packaged handwritten documents processing, there is scope to improve the accuracy
out-of-the-box solutions for the BFSI vertical for use cases such as KYC, check levels for processing such documents by enhancing its proprietary OCR, ML,
processing, and mortgage processing and NLP capabilities
 Exacto leverages ML algorithms built on Deep Neural Networks (DNN) and NLP,  While HCL Technologies provides implementation support through its own
which can recognize the intent and interpret the context of the fields in professional services, it could also expand its partnerships with resellers and
documents. Its software learning capabilities include batch-based supervised system integrators for implementing its Exacto product. This would help to
learning with a variety of labeled sample documents, user-based learning through increase the adoption and scalability of its deployments for enterprises
continuous feedback loop, and updating of the knowledge base during validation  In our opinion, it could provide workbench for enterprise IT users to identify the
 Its manual review features include the capability to highlight the fields with lower best-fit ML algorithms for their specific business use cases. Further, reference
confidence and options for operators to click or select the area in the documents, clients have suggested that the workbench for enterprise IT users could also
where missing information is available, to perform the correction in quick time provide them more control over its knowledge base and training data sets

® Copyright © 2019, Everest Global, Inc.

50
EGR-2019-38-R-3101
HCL Technologies (page 2 of 2)
Everest Group assessment – Aspirant

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Client feedback suggests that it supports integration with leading enterprise  Client feedback indicates that there is much scope to improve its product
applications via APIs and also provides connectors to their existing systems and training. Providing more streamlined classroom and online training courses and
RPA platforms to quickly update the extracted output from its Exacto product into developing partnerships with resellers to conduct product training sessions
the relevant systems and databases could help HCL Technologies to enhance its product training capability
 It provides a simple and east-to-navigate set-up and configuration console for  Providing the analytics and dashboards capability as an integrated out-of-the
enterprises, especially for its packaged solutions such as invoices – where box module within its Exacto product with the ability to track document
enterprises can choose from a list of pre-trained fields and also add new fields processing performance, manual verification, and process-level SLA metrics in
required for extraction real-time could significantly enhance its value proposition
 Reference clients are highly satisfied with its ease of use, cognitive features, and  Reference clients would appreciate better project management, improved
pre-training capabilities adherence to enterprise IT governance and security standards, flexibility, and
ease of deployment of its Exacto product

® Copyright © 2019, Everest Global, Inc.

51
EGR-2019-38-R-3101
Hyland (page 1 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Hyland has been in the Enterprise Content Management (ECM) market for 25  Hyland is yet to demonstrate success in automating relatively complex use
years. It provides a suite of software products for enterprises to assist them in cases such as processing of financial statements and legal contracts.
digitally transforming their operations. Through its acquisition of Perceptive Expanding its pre-trained offerings to include these use cases could
business unit in 2017, it added Brainware, an IDP software into its product significantly enhance its value proposition
portfolio. This has further strengthened its capability to provide advanced capture  There is much scope to grow revenue from the BFSI vertical, which is a leading
solutions leveraging Brainware’s proprietary ML and recognition features adopter of IDP solutions. Developing packaged solutions for BFSI and
 Hyland provides pre-trained enterprise-grade solutions for processing invoices, leveraging its presence in the North American market to onboard new clients
remittances, and transcripts. The majority of its clients are from CPG & retail, from the BFSI vertical could help to accelerate its IDP revenue growth
healthcare, and pharma verticals and it focuses primarily on the North American  In our opinion, there is much scope for Hyland to increase awareness about the
market capabilities of its Brainware product among enterprises with IDP requirements.
 Brainware has multiple modules within the product including run time server, Improved marketing efforts, publishing whitepapers, case studies, and
solution configuration manager, visibility or dashboards, and verifier console, all of conducting webinars or user events might increase its visibility in the IDP
which are exposed to enterprise users to configure the solution and manage market
processing of documents. Further, it also offers a designer module for enterprise  Expanding its strategic partnerships with leading RPA technology vendors and
users which provides access to a visual studio and ML algorithms available to service providers could provide access to their wide client base and help to
configure Brainware for a new use case grow its client base beyond North America to key IDP markets such as United
 Its user-based learning capability has multiple governance features that provide Kingdom, Continental Europe, and Asia Pacific
the flexibility for operators to review the generated training sets and make  There is opportunity for improvement in Brainware’s user interface for both
recommendations to add to the model process configuration and review. Improving the UI design to make it simple
 The recommendations are then reviewed by the supervised learning manager and along with displaying error messages for performing corrections, especially for
approved to be added to the global training set. This provides enterprises more fields with validation/business logic, could increase its ease of use for reviewers
control over the learning sets and minimizes the possibility of inadvertent addition
of incorrect learning sets to the model

® Copyright © 2019, Everest Global, Inc.

52
EGR-2019-38-R-3101
Hyland (page 2 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Brainware leverages its context-based interpretation capability to classify and  Based on client feedback, it could improve its resource management for
extract relevant fields based on the confidence level and difference in confidence product support by providing greater access to its developers to customize the
score and distance levels between the next-best candidate. The confidence software according to their requirements. Conducting frequent training sessions
thresholds and distance levels for the fields to be extracted can be set by for enterprise IT users and leveraging its partners/reseller network for training
enterprises during process configuration could reduce the dependency for enterprises on Hyland’s product support team
 It has validation features such as the ability to perform defined mathematical  Developing good handwriting recognition and extraction capabilities could
calculations over a set of fields within the documents and the capability to look up greatly enhance its value proposition and help enterprises to automate use
the extracted fields against enterprise databases and systems. This can help cases that involve handwritten documents processing
enterprises to enable faster verification during the manual review process and fix  There is scope to improve its NLP capabilities to be able to process
any errors in the incoming documents unstructured documents/text such as emails, recognize sentiments and
 It has comprehensive analytics and dashboard capabilities, which provide the efficiently interpret the natural language
overall throughput summary, STP percentage, and accuracy percentage  Reference clients would appreciate faster implementation, improved ease of
 The flexibility offered by its dashboard features to drill down into specific classes use, and adherence to enterprise IT governance and security standards
of documents such as invoices, view the field-level accuracy achieved by the
software and manual review percentage, and the consolidated set of processed
documents which contains exceptions can help enterprises to identify the
underlying issues in documents that affect the processing accuracy rates
 Reference clients are highly satisfied with Brainware’s ease of use, flexibility and
ease of deployment, and smooth integration with enterprise IT systems and
databases

53
EGR-2019-38-R-3101
HyperScience (page 1 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 HyperScience has a vision to enable frictionless flow of information (regardless of  While HyperScience currently offers pre-trained solutions for structured forms
the formats of incoming data) into enterprises’ systems and databases, leveraging and most common use cases such as invoice processing, it could expand its
its proprietary OCR and ML algorithms. Its IDP solution focuses on automating pre-trained use cases within the BFSI vertical to relatively complex use cases
data entry from all types of documents (hand-filled forms, printed documents, and such as risk assessment for loan applications, commercial loan agreements,
images) into enterprise IT systems and achieving the maximum STP rates with and legal documents processing
minimal human intervention  There is scope to accelerate its training process, especially for unstructured
 Its proprietary OCR and ML capabilities provide the ability to read documents by documents, with a large number of fields to be extracted by enabling batch-
phrases and understand the underlying content and context. Further, it has the based training with sample set of labeled documents. Providing this capability
ability to enhance the image quality of distorted documents, perform reorientation, as an out-of-the-box feature within its IDP product could significantly enhance
and remove blank pages before processing – which can help enterprises to its value proposition
significantly improve the classification and extraction accuracy from documents  Based on client feedback, there is opportunity to improve integration with
 It has demonstrated considerable success in processing unstructured documents enterprise systems by providing pre-built connectors to leading applications.
with handwritten fields, which has contributed to growth of its client base and Further, it could provide the ability to apply external validation rules for the
overall IDP revenue in 2018. Its proprietary deep learning algorithms trained with extracted fields by connecting to enterprise databases or systems
the relevant datasets with a wide variety of handwritten documents have enabled  In our opinion, providing greater flexibility for business users to define and
reference clients to achieve high accuracy in extraction of handwritten fields manage the accuracy or confidence thresholds for both classification and field-
 HyperScience has established a strong client base in the BFSI and government level extraction could further improve its ease of use
verticals, primarily within the North American market. It provides pre-trained  There is opportunity to improve the user review interface by highlighting the
solutions for use cases such as account opening, account maintenance, extracted fields with different color codes based on its confidence level and
insurance applications processing, and claims processing providing user-friendly error messages for faster verification

54
EGR-2019-38-R-3101
HyperScience (page 2 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 HyperScience provides a simple and easy-to-navigate user interface for  Client feedback suggests that there is scope to improve its administrator
enterprises to set up and configure use cases. Enterprise users can define fields dashboard features by providing metrics such as the fields modified by
that need to be extracted and also add new fields during configuration. The set-up operators and the ability to drill down further to view the corrected fields as out-
console also provides the ability for enterprise administrator to create user groups of-the-box capabilities. It could also provide insights on fields that consistently
and manage and control user access permissions for reviewing the processed have lower extraction accuracy rates to identify the root causes of such errors
documents. Reference clients have also appreciated its ease of use in setup and in configuration or setup. Enhancements planned by HyperScience for its
configuration upcoming releases are expected to include these capabilities
 Its user-based learning feature, which provides the ability for business users to  There is opportunity to expand into key verticals such as healthcare, CPG, and
specify cues within the document for extracting the defined fields, can help retail. Leveraging its existing partnerships with RPA technology vendors for
enterprises to quickly automate use cases that involve processing structured lead generation from enterprises with requirements to automate complementary
forms and invoices. Further, it has the capability to develop data sets from use cases could help HyperScience to onboard new clients from these verticals
manually corrected fields after verification and continuously update its knowledge  It currently supports processing of documents in English language. Improving
base its capability to support documents processing in other languages such as
 It provides a visual tool for enterprises to modify the desired accuracy for European, Latin, Chinese, and Japanese could assist in expanding its client
processing a set of documents and understand the tradeoff between the accuracy base beyond North America
rates and automation rates. This can help them to take decisions to set the  Reference clients would appreciate timely version updates, improved security
desired accuracy level according to the complexity and business importance of protocols, and a consultative approach to help them identify best-fit use cases
use cases for its product
 Reference clients are highly satisfied with HyperScience’s flexibility to align their
product capabilities and roadmap with their evolving requirements and
responsiveness in product support

55
EGR-2019-38-R-3101
Ikarus (page 1 of 2)
Everest Group assessment – Aspirant

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Ikarus is a relatively new brand in the IDP space. It focuses on providing  While AllSpark has been envisioned to be a business-user-friendly solution,
enterprise-grade solutions for processing documents with unstructured data with providing workbench for enterprise IT users to identify the best-fit ML models
proprietary OCR, ML, and NLP capabilities that can process running text. It has for their use cases could add more flexibility for enterprises, especially while
achieved initial success in processing complex documents such as annual reports scaling up their implementation
and reconciliation, increasing the speed and efficiency for a few clients in the  Ikarus could have a more defined roadmap for its product, detailing its short-
capital markets industry term and near-term enhancements / new upcoming features and proactively
 It has developed strategic partnerships with few service providers, system share it with clients. Reference clients have also indicated that there is scope
integrators, and RPA vendors, whose geography and industry expertise has for improvement in developing and communicating a well-defined product
helped them to build its initial client base and grow revenue roadmap
 Its packaged solutions for business use cases such as KYC, accounting, and  Based on client feedback, it could provide more out-of-the box connectors with
financial reporting provide the capability for business users to configure these use leading enterprise applications, which can accelerate the speed of
cases on their own and have contributed to its increasing client base in the implementation
manufacturing and BFSI verticals  As a new entrant in the IDP market, there is much scope for Ikarus to increase
 The AllSpark solution provides document pre-processing, classification, and awareness about its product capabilities among enterprises with IDP
extraction capabilities for enterprises with integration points for both upstream and requirements. It could consider investing in conducting webinars, user events,
downstream applications and publishing detailed case studies to increase mindshare in the market
 It has a simple and professional user interface with a process configurator module  Expanding its strategic partnerships with leading RPA technology vendors
that offers business users the ability to define a new process and modify or add could help in increasing its client base beyond manufacturing and BFSI to other
new fields to be extracted. Further, it offers flexibility for business users to add key IDP verticals such as healthcare and CPG & retail
new use cases as well. The user review window has the ability to highlight the
fields with color codes based on its calculated confidence level

56
EGR-2019-38-R-3101
Ikarus (page 2 of 2)
Everest Group assessment – Aspirant

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Its OCR and ML capabilities can assist enterprises to pre-process documents and  Reference clients have suggested that Ikarus could improve its project
improve image quality before classification and extraction. Further, it provides management, especially the coordination and communication during
flexibility for business users to use a different OCR engine as per their business implementation
needs  Providing more flexibility for enterprise users to set the confidence or accuracy
 Through its NLP capabilities, it can also analyze running text with different inputs thresholds for both classification and field-level extraction would enable more
in various formats to process, extract, and map the extracted fields to a defined control on the STP and exception queues of processed documents
taxonomy. Reference clients also appreciate its ability to consolidate the extracted  Further, it could provide the ability for enterprises to create more users and
data, understand the context, and map the data to the taxonomy manage access to the different modules within the platform. Reference clients
 In addition to the common learning methods enabled by IDP products such as have also mentioned that Ikarus could introduce more features to ensure
user-based training and training through batches of labeled samples of adherence to their enterprise IT security requirements
documents, it also provides options for cross-training, especially with cloud-based  Client feedback indicates that there is much scope for Ikarus to improve its
deployments. The cross-training is done on specific use cases where the analytics and dashboards capability by providing more insights on document
enterprises do not have data security/privacy concerns and face challenges with processing performance, field-level accuracy, and manual worker performance
insufficient sample data to train the system analytics
 Client feedback indicates high satisfaction with the ease of use, ML/cognitive  They would also appreciate improved readiness and adherence to enterprise-
features of AllSpark, and the flexibility of Ikarus to quickly adapt to their business grade infrastructure requirements such as removing docker-based architecture
requirements and enabling better orchestration of processes

57
EGR-2019-38-R-3101
Infrrd (page 1 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Infrrd began its operations as an NLP-based company providing image  There is much scope for Infrrd to combine all its modules and develop an
processing (using computer vision), sentiment recognition, and text analytics of enterprise-grade product with pre-built solutions. Its current way of solutioning
product reviews for retailers as a back-end application through readymade APIs could be an inhibitor for
 It aims to leverage its NLP and image recognition capabilities and combine with its enterprises to efficiently scale up automation across various business
proprietary ML capabilities to provide a differentiated IDP solution for enterprises processes and manage them from a centralized platform or console
 It provides a SaaS-based solution with secured APIs for use cases such as  It currently lacks a GUI for enterprise users to configure and monitor processes.
invoices, receipts, bank statements, and legal documents processing. The product Enabling this feature could help enterprises to manage the automated process,
interacts with the enterprise systems through readymade APIs for data exchange provide user access controls, and define and modify confidence level for
with upstream and downstream applications classification and extraction
 The NLP capabilities of its solution provide the ability to extract the text,  Reference clients have suggested that Infrrd could improve project
understand the intent, and apply predictive ML algorithms to establish management and case tracking for faster product support. Providing relevant
associations and build taxonomies. Reference clients have also appreciated its training and flexibility for enterprise IT users to manage the required changes in
ability to understand the intent from emails, extract the data, and update in use case configuration or perform batch-based training could reduce their
relevant databases dependency on Infrrd’s extensive support
 Through its image recognition capabilities, it has deployed its product in many  Based on client feedback, Infrrd could proactively communicate its vision and
relevant use cases such as processing images captured using drones for its share their evolving strategy and features or enhancements planned to be
construction industry clients and decoding property images to accelerate the introduced in their upcoming product releases
underwriting process for its mortgage industry clients  In our opinion, developing a good handwriting recognition feature could add to
its capability to automate more use cases, especially in the BFSI vertical, which
is a leading adopter of IDP solution. Infrrd has plans to include this capability in
its future product enhancements

58
EGR-2019-38-R-3101
Infrrd (page 2 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Infrrd offers the ability to do both classification and subclassification through ML-  Its correction UI could be made available for all its pre-trained use cases.
based clustering algorithms for various types of documents such as classifying Further, it could include features such as highlighting fields in the documents
various receipts as parking tickets, movie tickets, or restaurant bills. It extracts the with low confidence level that need to be verified by operators, and the ability
relevant fields with a composite confidence level for each field by identifying for operators to click on an undetected field on the document and add it
anchors or associations and building taxonomies manually – which could also be fed into the feedback loop for continuous
 Its software learning features include user-based training via feedback loop and learning
batch-based attended learning by ingesting labeled data of sample documents.  Infrrd currently lacks out-of-the box analytics and dashboard capabilities, which
Further, its cloud-based deployments provide flexibility for enterprises to opt for could pose challenges for enterprises to manage large volume of documents
cross-training the model by ingesting data from multiple enterprises for use cases processing efficiently. Client feedback also suggests that it could offer analytics
such as accounts payable, where they may not have data privacy and security and insights on key metrics such as document processing performance, field-
concerns level accuracy by batches, learning accuracy over time, and manual worker
 Reference clients are highly satisfied with Infrrd’s flexibility to adapt to their performance analytics. Enhancements planned in the upcoming release are
changing business requirements, NLP, and software learning capabilities expected to address this need
 They would also appreciate better adherence to their enterprise IT and security
standards, improved integration, and pre-built connectors to leading enterprise
applications

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Kofax (page 1 of 2)
Everest Group assessment – Leader

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Kofax has a clear vision to deliver end-to-end process automation for enterprises  Kofax currently has limited pre-trained solutions and can provide more such
through a unified intelligent automation platform with IDP as one of its core out-of-the-box solutions on other common business use cases (e.g. order
capabilities. It plans to capitalize on the increased demand for integrated RPA, management) and offer verticalized solutions, especially for industries with
BPM, and IDP capabilities among enterprises, with a keen focus on expanding its greater IDP demand such as BFSI to further grow its revenue
cognitive/ML-based document processing solution  Conducting more marketing and awareness sessions among its existing users
 Its recent acquisitions of Nuance Document Imaging (NDI) and Top Image and undertaking external marketing programs emphasizing its value proposition
Systems (TIS) aligns with this strategy. It has strengthened its front-office can help increase its mindshare and capabilities across both existing and
information capture capability through NDI and expanded its secured cloud-based prospective clients
capture offering leveraging TIS’ SaaS expertise  In our opinion, improving its NLP capabilities, sentiment recognition, and better
 It has reported a strong client base from BFSI, healthcare, and government contextual understanding can complement its broader machine learning
verticals for its IDP product – and our estimates indicate that it is among the capabilities and further increase the value proposition of its IDP offerings
leaders in IDP by market share  There is opportunity to enhance its handwriting recognition and processing
 Its Total Agility platform is capable of pre-processing, classification, and extraction capabilities. Reference clients, who have run preliminary tests, indicated that its
of data from structured forms, semi-structured documents such as invoices and processing accuracy of handwritten fields can be improved
shipping, and unstructured documents such as contracts and emails. The platform  They have also suggested that Kofax can do better documentation of
provides pre-trained solutions for invoice and claims processing exceptions and fields or changes that need to be added
 The platform has a simple web-based interface (Total Agility workspace) for  Based on client feedback, Kofax could assist them to leverage its partnerships
business users to centrally manage the work queue of processed documents, with Google Vision and proactively suggest potential best-fit use cases to
which highlights the fields that did not pass the respective confidence thresholds, increase the adoption of its IDP product for new use cases
with a user-friendly explanation for easy debugging
 Its document classification capabilities categorizes documents into different types
and displays its confidence level for business users for review

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Kofax (page 2 of 2)
Everest Group assessment – Leader

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 The platform has continuous learning capability with the availability of “online  There is scope to improve its professional services to support clients with large
learning” feature – that is enabled automatically – to learn from user actions, as scale deployments – which is also opined by reference clients. Developing
the business user highlights the fields that were not detected earlier or modifies or strategic partnerships with leading service providers and system integrators
adds new data could help Kofax to enable smoother and faster implementation for its clients
 It also has a transformation designer for supervised learning, which is a no-code  In our opinion, enabling field-level learning by ingesting batches of labeled
web-based interface for its pre-trained solutions – where the enterprise sample documents for its pre-trained solutions, along with existing learning
administrator can add training sets for classification. It also offers flexibility for process through user actions, could help their clients accelerate the training
users to add new fields, define confidence level, and train with user actions and achieve greater accuracy in a short time
 Kofax has also integrated its TotalAgility platform with BPM capabilities to define  There is opportunity to increase its revenue share from CPG & retail and travel
processes and orchestrate tasks before and after document processing such as and logistics industries, which have also witnessed high demand for IDP
sending the extracted data to downstream applications and updating databases. solutions. Developing pre-trained solutions for the most common use cases and
Reference clients also recognize the platform’s ease of integration with a wide strengthening support services to address specific client requirements could
range of import and export connectors as one of its key strengths help Kofax increase its client base from these industries
 The capability of dashboards to categorize the extracted fields into four levels  Clients would also appreciate better IT governance, adherence to security
provides an intuitive interface for business users to undertake faster corrective standards in early stages of implementation, and improved change
actions. Further, its analytics console provides options to monitor both historical management measures to minimize technical glitches during product upgrades
and real-time document processing and manual worker performance metrics
 Kofax’s reference clients rate it highly on its flexibility, scalability, responsiveness,
and the ability to adapt or customize its solution to their requirements

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Parascript (page 1 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Parascript has a vision to enable enterprises process a wide variety of  It could expand its pre-trained offerings beyond the current use cases such as
unstructured data efficiently with less manual intervention. Through its advanced invoices, receipts, and claims to provide more verticalized solutions leveraging
capture solution, it focuses on providing end-to-end unstructured document its domain expertise, especially in the BFSI industry for use cases such as
processing solutions leveraging its proprietary technologies and significantly mortgage processing
accelerate training and implementation for enterprises  In our opinion, providing the flexibility to access all modules of its IDP solution
 It has a keen focus on research and development, with a large percentage of data including configuration console, administrator GUI, and verification interface
scientists and machine learning engineers within its advanced capture solution from on-premise, cloud, or web could further enhance its value proposition
team. Parascript has also developed its proprietary OCR solution to read all types  There is much scope for Parascript to increase the awareness about its product
of data and machine learning algorithms for pattern recognition, image pre- capabilities in the IDP market. Increasing focus on thought leadership and
processing, classification, and extraction. Reference clients are highly satisfied marketing its Advanced capture solution can help to create more awareness
with its technology and machine learning capabilities among enterprises with IDP requirements
 Parascript’s advanced capture solution has three main modules that include a  Adopting an aggressive approach by investing more in direct selling as well as
form definition studio for establishing classification and extraction rules, a control sales, solutioning, and other professional services can help Parascript to
panel for enterprise administrator, and review windows with controlled view for significantly increase its revenue and growth
operators based on access controls. It also has image pre-processing capabilities  There is opportunity for Parascript to expand its partnership ecosystem,
that enhance the image quality, automate, and adjust the algorithms based on the especially with complementary technology vendors such as RPA vendors –
optimized images which might provide Parascript access to their wide client base and increase its
 Through its own OCR and machine learning capabilities, the platform has the revenue from Continental Europe, United Kingdom, and Asia Pacific
capability to accurately read, classify, and process handwritten documents.  Developing NLP capabilities to recognize the intent and context of the text in
Reference clients were able to automate multiple business use cases that involve documents would help in enhancing the accuracy of its extraction for
extensive handwritten fields with high accuracy and opine that it is one of unstructured documents
Parascript’s key strengths

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Parascript (page 2 of 2)
Everest Group assessment – Major Contender

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Its advanced capture solution has robust software learning features such as the  While it has partnerships with many service providers and system integrators, it
ability to classify documents through clustering, train the software for extraction by can further leverage such partnerships to build its client base from key IDP
ingesting a sample set of labeled documents with historic data, and user-based verticals such as healthcare, CPG, and retail
training through continuous feedback loop. Further, these features are exposed to  Parascript’s advanced capture module does not currently provide the ability for
enterprises via form definition studio, which can be managed without specialized business users to configure business rules on extracted fields directly from
machine learning or coding expertise within its user interface. Enabling this capability could further improve its value
 Its proprietary algorithms and classifiers (FormXtra.AI Capture) have the ability to proposition, which is also opined by its reference clients
quickly learn from Excel files with sample data and efficiently classify documents  There is opportunity to improve its user interface by creating groups of
and extract the fields. This has helped enterprises to accelerate the training time extracted fields and highlighting them with different color codes according to the
and achieve high accuracy rates. Reference clients are highly satisfied with its defined thresholds and a feature to display error messages to business users
ability to train the system in limited time for fields that require manual review
 The form definition studio is simple and easy to use for enterprises, with features  Based on client feedback, there is scope for Parascript to improve its product
such as the ability to set the confidence thresholds for classification and field-level training and support capabilities. Expanding its training and support team could
extraction. The control panel for user review also highlights the fields with errors remedy this situation
or below confidence thresholds  There is scope for Parascript to improve its analytics and dashboards by
 The control panel for enterprise administrator has security features such as the improving its look and feel, adding more intuitive graphs, unified view of
ability to create multiple operator roles with full views or access to a partial set of automated and manual processing performance by batch, document, and field
fields for verification. It also provides the feature to send the extracted data level
rejected by the operators for final queue to ensure that the rejected data is valid  Reference clients indicated that Parascript could provide the flexibility to
 Reference clients are highly satisfied with its product vision and roadmap and download the extraction output in xml and other formats. They would also
cognitive features appreciate the flexibility to obtain the values added manually, in addition to the
extracted values in the final extraction output

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Rossum
Everest Group assessment – Aspirant

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 Rossum focuses on providing IDP solution as a service for enterprises to process  There is much scope to expand its pre-trained models to other common
semi-structured documents such as invoices. It has a vision to provide its solution business use cases such as order management, KYC, and claims processing
as a plug-and-play software for semi-structured documents processing, where  Developing a set-up and configuration console for enterprise administrators
enterprises can quickly connect their systems or applications to its IDP software could improve its ease of configuration. It could also provide flexibility to modify
offered on cloud or add the required fields for extraction, depending on their business
 Its proprietary OCR capability provides its IDP solution the ability to understand requirements – thereby minimizing the need for extensive support from Rossum
the semantics of the invoice and also perform image pre-processing such as or its partners
enhancing the image quality, de-skewing, and size normalization  Providing a workbench for enterprise IT users could give more control to
 Rossum’s IDP product, Elis, has the capability to perform image pre-processing, enterprise IT teams to configure a new use case and manage or control their
classification, and extraction of semi-structured documents. It currently provides training data sets
pre-trained packaged solution only for invoice processing and supports invoices in  Client feedback indicates that there is opportunity for improvement in
English, German, Czech, and Slovak languages interoperability and ease of integrating its product with enterprise IT systems.
 Delivered as a SaaS product, Elis offers flexibility for enterprises to download a Offering pre-built connectors to leading enterprise applications could help
trial version to do POCs on its invoice processing module and deploy its product enterprises quickly integrate its product with their upstream and downstream
in quick time applications or databases
 As a new entrant to the IDP market, it has achieved initial success in Continental  Rossum could also look for opportunities to develop client base from other key
Europe and onboarded several new clients in 2018 IDP geographies such as United Kingdom and North America
 Reference clients are highly satisfied with its customer focus, flexibility, and  Reference clients would appreciate proactive communication on Rossum’s
accuracy of its packaged solution for invoice processing product roadmap and better adherence to their IT governance and security
standards

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WorkFusion (page 1 of 2)
Everest Group assessment – Leader

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 WorkFusion has a distinctive vision to enable digital transformation for enterprises  There is much scope to expand its offerings on pre-built use cases for other
by providing innovative AI-driven automation capabilities such as AutoML and common business processes such as order management, processing financial
AutoQC within its integrated automation platform that brings together RPA, BPM, statements, and legal contracts. Reference clients have also indicated that
OCR, analytics, and AI capabilities expanding its pre-built use cases will strengthen its solution portfolio and
 WorkFusion’s smart RPA platform takes a different approach from package-based expedite their automation configuration time
IDP solutions by developing libraries of key document processing ML scripts  In our opinion, improving its manual review features by displaying error
categorized into content intelligence (e.g. extraction, entities, and validation) and messages for performing corrections and the ability to color code and highlight
decision intelligence robots (e.g. classification, reconciliation, and matching). It the fields with lower confidence within its GUI for business users can increase
provides flexibility for enterprises to define use cases with these tasks according its IDP offering’s value proposition. Enhancements planned in the upcoming
to their requirements version are expected to address these requirements
 Further, the autoML feature recommends the appropriate ML algorithms for use  Further, reference clients have also highlighted that there is opportunity for
cases and enables enterprises to determine the best-fit algorithms for their use WorkFusion to simplify user access and user-friendliness for configuration to
cases without the need for data scientists enable processing of documents
 Its platform has the capability to leverage pre-built use cases such as invoice  There is significant scope for WorkFusion to tap into the demand for IDP in
processing and anti-money laundering to quick start the automation or configure a government & public sector, travel & logistics, and manufacturing verticals.
new use case through its built-in visual BPM/workflow with a simple drag-and- Continuing to develop a library of pre-built use cases applicable to these
drop interface. This provides enterprises with the flexibility to enable end-to-end verticals can help WorkFusion to add more clients
process automation with RPA, OCR, IDP, and system tasks with human-in-the-  Improving its capabilities to process and extract handwritten fields accurately
loop to handle exceptions can help enterprises to scale their automation on a wide range of business use
 It has a wide range of software learning options for both classification and cases that involve handwritten documents
extraction that include training through historic data sets, user-based training, and
cross-training that leverages the models developed by various enterprises for
specific use cases to accelerate the training process

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WorkFusion (page 2 of 2)
Everest Group assessment – Leader

Measure of capability: High Low

Vision & capability Market impact

Vision & Product Monitoring and Implementation Commercial

strategy capability improvement and support model Overall Market success Portfolio mix Value delivered Overall

Strengths Areas of improvement

 The platform has good classification capabilities with the ability to identify different  While WorkFusion has tightly integrated its RPA, BPM, and AI capabilities to
sections such as faxes, invoices, and cover letters within large documents and enable end-to-end process automation, enterprises would mostly require
classify them according to the different categories of documents before extraction access to its BPM or RPA capabilities of its automation platform to leverage the
 It provides a visual tool for enterprise administrators to adjust the accuracy full potential of its IDP capability. This could reduce flexibility for enterprises that
thresholds for the tasks or fields to be extracted by evaluating business trade-offs, have invested in other RPA or BPM tools and wish to consume WorkFusion’s
criticality of processes, and the desired automation rates IDP capability through a modularized or best-of-the-breed approach
 Its analytics console includes dashboards on STP rates, field-level accuracy,  There is scope for WorkFusion to increase its partner ecosystem, providing
autoML production performance forecasts, and manual work reduction rates differentiated complementary capabilities such as deep learning and advanced
 WorkFusion continues to invest in marketing the intelligent capabilities of its NLP or NLG capabilities. This would provide more options for its clients to
platform – and this has helped to increase its visibility in the market resulting in a choose the best-fit complementary solutions for their specific use cases
significant YOY growth in its IDP revenue. It has also developed strong presence  Reference clients would appreciate faster tagging and training process in
in BFSI and CPG & retail verticals scenarios that require a large set of sample documents
 Its reference clients have indicated high satisfaction on its machine learning  They have also mentioned challenges in accessing the right resources who
capabilities and lauded WorkFusion’s flexibility and support for implementation understand and develop automations on the platform. Proactive and regular
communication with clients can help WorkFusion to quickly solve these
challenges for its clients

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Contents

 Introduction and overview

 Summary of key messages

 Overview of IDP software products

 IDP – Products PEAK Matrix™

 IDP market – competitive landscape

 Everest Group’s remarks on technology vendors

 IDP product capability trends and predictions

 Appendix

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IDP products – capabilities, features, and functionalities (page 1 of 4)

Processing unstructured Classify and extract unstructured data fields from emails, documents with free-flowing text,
data images, handwritten documents, etc.

Documents pre- Improve low-quality images and handwritten documents with features such as auto crop,
processing background editor, and the ability to configure custom enhancement criteria

Pre-trained out-of-the box solutions with reasonable accuracy (~60-70%). These are
Pre-trained models generally trained by ingesting a variety of documents for a particular domain or use cases
into machine learning models

 Automatic classification and sorting of incoming documents and the ability to route them to
Advanced document desired destinations
classification  Identify different sections within the document (e.g., faxes, letters, or invoices) and classify
them according to the categories before extraction

Accelerated learning by ingesting labelled set of sample documents or Excel files with
Supervised learning sample data in order to efficiently classify the documents and extract the relevant fields

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IDP products – capabilities, features, and functionalities (page 2 of 4)

 Learn through corrections performed by business users during manual review by

automatically generating training batches in the background
User-based learning  Ability for business users to train the software by defining the criteria through anchors,
associations, expressions, and lookups by uploading a set of keywords

 Leveraging the ML models developed by various enterprises for use cases to accelerate
the training process
Cross-training  Cross-training is generally performed on specific use cases depending on the willingness
of enterprises to share their trained models

 Analyze the running text in documents, understand the context, consolidate the extracted
Natural language data, and map the extracted fields to a defined taxonomy
processing  Recognize the sentiments from the text (e.g., from emails and other unstructured data) and
classify into different categories

 Modify and customize the confidence level or accuracy thresholds for classification and
Configuration and set-up
extraction of desired fields from documents
GUI for enterprise
 Add new processes or use cases from a set of available domains
administrators
 Ability to define, add, and modify the fields to be extracted
 Upload the documents by batches and manage the processing
 Define and manage user access controls
 Visual tool to adjust the accuracy threshold for the documents or extracted fields by
evaluating the criticality of processes and the desired automation rates
 Add or modify business validation rules such as performing mathematical calculations on
extracted fields, looking up data from external databases for verification, etc.

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IDP products – capabilities, features, and functionalities (page 3 of 4)

 Categorize documents into different types and display the confidence level for classification
or highlight the categorization below the defined accuracy thresholds
Review or correction GUI
 Display the confidence level of extracted fields or highlight the extracted fields that failed to
for business users
meet the defined confidence or accuracy thresholds
 Highlight the fields that violate the business rules or fields with incorrect/missing data
 Ability for business users to manage the work queue of processed documents
 Display error messages with user-friendly explanations for the extracted fields that require
manual review

 Flexibility to experiment on the best-fit machine learning algorithms for use cases
Workbench for enterprise  Workbench for enterprise IT users to manage the workflow of processes, access to
IT users machine learning libraries, and integrated RPA capabilities

Learning queue Ability to review and approve the learning data sets that are automatically generated from
administration user-based training

 Unified view of multiple document processing projects, ability to track process-level SLAs,
Analytics and and customizable reporting capabilities
dashboards  Dashboards for batch-level and field-level processing accuracy by the software and
integrated manual worker/operator performance with metrics such as time taken to fix
errors, number of errors fixed, and fields verified
 Ability to drill down the metrics by specific classes of documents and reviewers
 Consolidated view of processed documents and fields that contain exceptions to help in
identifying the root causes of lower processing accuracy rates

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IDP products – capabilities, features, and functionalities (page 4 of 4)

 Ability to encrypt or hide confidential data fields using data encryption technologies before
Security and data
review
protection
 Adherence to enterprise IT security standards and regulatory compliance requirements

Multi-lingual documents Process documents in multiple languages apart from English such as European, Latin
processing American, Japanese, Chinese, and Arabic languages

 Availability of APIs for faster integration with enterprise systems and applications
Integration with  Pre-built connectors with leading enterprise applications
enterprise IT architecture  Support for integration with the upstream and downstream applications of enterprises

Tighter integration with complementary solutions including RPA and BPM solutions either
Complementary through in-house capabilities or via partners to enable end-to-end process automation for
capabilities enterprises

 Ability to directly upload low-quality documents from mobiles for processing

Mobile capture
 Process incoming documents and images from mobile devices

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What do the latest developments in IDP products mean for
enterprises?

IDP product capability predictions for near future

Increased configurability of
Processing unstructured content or platforms to provide greater
Enhanced integration with
data beyond images and documents control for enterprise users
complementary technology
such as speech and videos solutions including RPA, BPM etc.

Increased openness of the products; app store-

Increased deployments on
based approach and availability of downloadable
public and private cloud
pre-trained models developed by partners

More vertical-specific Advanced image recognition and

packaged solutions processing capabilities using a
combination of computer vision and
deep learning algorithms

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Contents

 Introduction and overview

 Summary of key messages

 Overview of IDP software products

 IDP – Products PEAK Matrix™

 IDP market – competitive landscape

 Everest Group’s remarks on technology vendors

 IDP product capability trends and predictions

 Appendix

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Glossary of key terms used in this report (page 1 of 2)

Term Definition
Artificial Intelligence (AI) The ability of machines to use cognitive computing to mimic human intelligence, such as visual perception, speech recognition,
decision-making, and language translation
BPM tools Process optimization solutions with capabilities of process design, execution (through workflows and orchestration of different
BPS technology systems), and monitoring (through analytics)
Buyer The company/entity that purchases outsourcing services from a provider of such services
Cognitive computing Self-learning systems that use data mining, pattern recognition, and natural language processing to mimic the way the human
brain works
Cognitive/smart The ability of a system to learn how to interpret unstructured content, such as natural language, and use analytical capability to
automation derive and present inferences in a pre-defined/structured fashion; for example, a system classifying the mood of a person into
one of the pre-defined groups based on his/her tone and language
Computer vision A type of AI technology that aims to achieve automatic visual understanding through an image or a sequence of images
Deep learning A subfield of machine learning concerned with algorithms and inspired by the structure and function of the brain called artificial
neural networks
General AI A machine that can perform multiple intellectual tasks across a variety of domains; essentially, it mimics all activities performed
by a human
Horizontal business Those processes that are common across the various departments in an organization and are often not directly related to the
processes key revenue-earning business, such as procurement, finance & accounting, and human resource management
KPI Key performance indicators for processes, services, products, or solutions
Machine learning A type of artificial intelligence that provides computers with learning capabilities without explicit programming
Narrow AI A machine that performs one narrow task; an expert system
Optical Character A technology that involves the recognition of printed characters and converting images into machine-encoded text
Recognition (OCR)

Source: Everest Group (2019)

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Glossary of key terms used in this report (page 2 of 2)

Term Definition
RPA A type of automation that interacts with a computer-centric process through the User Interface (UI) / user objects of the software
application supporting that process; typically deployed on virtual machines and can enable end-to-end process automation
without the need for human triggers
Semi-structured data Semi-structured content is one which does not conform to the pre-defined structure of content, but nonetheless, contains tags /
other markers to separate semantic elements and enforce hierarchies. In short, it has a self-describing structure. The
placeholders of the content can be in varied sequences
Software-as-a-Service SaaS is a software licensing and delivery model in which common platforms are built and standard functionality is developed,
(SaaS) while being integrated into an enterprise’s systems. It is expected to bring about more integration between the IT environment
and the business needs, thus making the IT infrastructure more agile and aligned to business changes
Structured data Structured content is one which conforms to the pre-defined structure of content in terms of tags to separate semantic elements
and enforce hierarchies of records and fields. Moreover, the placeholders for the content have a pre-defined sequence
Unstructured data Unstructured content refers to information that either does not have a pre-defined data model or is not organized in a pre-
defined manner. Unstructured information is typically text-heavy, but may contain data such as dates, numbers, and facts as
well
Vertical-specific Vertical-specific business processes refer to those processes which are specific to a department within an organization, and are
business processes often directly related to the key revenue-earning business. Examples include lending process in case of the banking industry
and claims processing in case of the insurance industry
Virtual agent It is a computer-generated virtual character which can have a conversation with human customers and take decisions.
Alternative term for chatbots or virtual assistants
VM A Virtual Machine is an emulation of a computer system. It is a software computer based on computer architectures, runs an
operating system, and provides functionality of a physical computer

Source: Everest Group (2019)

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Research calendar – Service Optimization Technologies (SOT)

Published Planned Current release

Flagship SOT reports Release date

Intelligent Document Processing (IDP) – Technology Vendor Landscape with Products PEAK Matrix™ Assessment 2019 March 2019
Robotic Process Automation (RPA) – Technology Vendor Landscape with Products PEAK Matrix™ Assessment 2019 Q2 2019
Robotic Process Automation (RPA) Annual Report 2019 Q3 2019
SDA in Business Process Services (BPS) – Solution Provider Landscape with PEAK MatrixTM Assessment 2019 Q3 2019
Conversational AI – Technology Vendor Landscape with Products PEAK MatrixTM Assessment 2019 Q3 2019
Enterprise AI Automation Adoption - Pinnacle Model™ Analysis 2019 Q3 2019

Thematic SOT reports

Conversing with AI – Intelligent Virtual Agents (IVA) Market Report 2019 November 2018
Think Banks Have Gotten the Most Out of Automation? Think Again! February 2019
Process Mining – The New Juggernaut Driving Digital Transformation March 2019
Intelligent automation: Accelerating from Short-term Wins to Long-term Strategic Business Outcomes March 2019
Delivering Business Value Through Content Intelligence Q2 2019
AI in business – A primer Q2 2019
RPA in healthcare Q2 2019
Managers vs Staff - Different approaches to RPA adoption – ground up vs top down Q3 2019
AI in Internet of Things (IOT) Q4 2019
AI Automation Enterprise Playbook Q4 2019

Note: For a list of all SOT reports published by us, please refer to our website page

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Additional SOT research references

The following documents are recommended for additional insight into the topic covered in this report. The recommended documents either
provide additional details on the topic or complementary content that may be of interest

1. RPA – Technology Vendor Landscape with Products PEAK Matrix™ Assessment 2018 (EGR-2018-38-R-2595); 2018. Robotic Process
Automation (RPA) is one of the key enablers of digital transformation for enterprises and global service providers. This report uses Everest Group’s
proprietary PEAK Matrix™ to assess and evaluate RPA capabilities of technology vendors across two key dimensions, market impact and vision &
capability. It also includes market share analysis of technology vendors, insights into advances in RPA technologies, and Everest Group’s remarks on
technology vendors highlighting their key strengths and areas of improvement, with specific focus on RPA

2. Enterprise RPA Adoption | Pinnacle Model™ Analysis (EGR-2018-38-R-2586); 2018. The service revolution is well underway, and enterprises
across nearly all verticals are accelerating their Robotic Process Automation (RPA) efforts and related outcomes. While a majority of enterprises are
still in early stages of RPA adoption, some enterprises have performed better than others in their RPA journey by developing a combination of
differentiated capabilities along with deriving superior outcomes. Everest Group recognizes such RPA Pinnacle Enterprises™ by comparing enterprise
performance on its proprietary Pinnacle Model™ methodology

3. Smart RPA Playbook (EGR-2018-38-R-2824). Smart RPA, which blends both RPA and AI capabilities, is a core competency that can successfully
enable digital transformation for enterprises. Using a five-step approach to adopt, expand, and scale Smart RPA deployments, this Playbook taps
various frameworks, such as Everest Group's Pinnacle Model™ and Capability Maturity Model (CMM), to empower enterprises to conceptualize where
they want to go with enterprise automation, what capabilities they need to develop to get there, and the ideal path for their journeys.

For more information on this and other research published by Everest Group, please contact us:

Sarah Burnett, Executive Vice President and Distinguished Analyst: [email protected]

Anil Vijayan, Practice Director: [email protected]
Jayapriya K, Senior Analyst: [email protected]
Akash Munjal, Analyst: [email protected]
SOT Team: [email protected]

Website: www.everestgrp.com | Phone: +1-214-451-3000 | Email: [email protected]

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About Everest Group

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