Infrrd recognized as an Everest Group Star Performer & Major Contender
by Mark Clark, on May 4, 2021 8:10:54 AM PDT
Infrrd was recently recognized by Everest Group as a Star Performer and Major Contender in the consulting and research firm’s “Intelligent Document Processing (IDP) Products PEAK Matrix® Assessment 2021.” It’s exciting for us because it highlights our momentum and market impact. We’re very proud of both, and delighted to be part of an industry that’s exploded as the need for automation became blindingly clear.
The pandemic signaled to businesses that uncertainty is no longer an option. Enterprises have responded by increasing their interest and adoption of solutions that not only reduce risk but also make their businesses stronger. They want to work smarter, and to have people step into the roles where their decision-making skills are needed most. That means more places automation can fill in the gaps, smooth out the bumps, and remove friction in business processes.
Our proprietary intelligent document processing platform is ready for today’s business challenges and ready to help businesses transform their processes so they can be more efficient, more resilient, and scalable.
“Infrrd’s IDP platform allows enterprises to classify and extract data from semi-structured and unstructured documents. It offers pre-built, out-of-the-box models for use cases such as claims and bank statements for easy adoption, while also allowing enterprises to create custom models in a low-code environment. The platform’s cognitive capabilities, user-friendly interface, and its flexibility to process different data types, combined with its rapid growth in the market have helped Infrrd emerge as a Star Performer and Major Contender on Everest Group’s PEAK Matrix® for IDP software products in 2021,” said Anil Vijayan, Vice President, Everest Group.
Global uncertainty means nobody’s sure what’s next, but we’re prepared to help businesses with that, too. We are making it so businesses can take processes into their own hands with easy-to-use systems that employ prediction instead of templates to give enterprises a true understanding of what’s in their documents.
Infrrd’s IDP has the flexibility to read documents and meaningfully extract the data companies need to fuel their processes. It’s something companies might use for their semi-structured and unstructured documents, the parts of their process they’ve been struggling to crack for years. But it’s more broadly a system for all kinds of a company’s documents, which can be linked up with other APIs to enable end-to-end automation across business operations.
Companies like the savings that come from the efficiencies, but also the business advantages that come from being able to move away from manual labor and toward their digital future. The speed and accuracy of Infrrd’s data extraction mean enterprises don’t have to frustrate end users by asking them to input information manually. It means companies don’t have to deal with long lag times before getting back to customers waiting on replies, or ask users again for information they’ve already submitted, just because it hasn’t been integrated into the system correctly. Automation eliminates manual processing bottlenecks and the need for a piecemeal technology approach with parts that break and need replacing halfway through the process.
The market is betting on automation as a sector. UiPath’s recent filing with the SEC, data warehouse company Snowflake’s IPO in September, and enterprise AI company CE’s public offering in December are pointing to something powerful -- that the era of intelligent work is arriving, and that enterprises need to make a move to stay relevant.
We know our prediction-based IDP platform can improve customer experience and help businesses work smarter.
Digitizing documents in ways your systems can understand has never been more crucial. And understanding each document has never been so possible.
Today, more eyes than ever are on IDP as a way to enable enterprises around the world to digitize their data intake and transform their business processes, regardless of the document variation they need to tackle.
Infrrd knows how.