SAN JOSE, California… November 2023 — Infrrd, a trailblazer in structured and unstructured document processing technology, proudly announces its recognition as a Leader in the IDC MarketScape: Worldwide Intelligent Document Processing Software 2023-2024 Vendor Assessment. With the market projected to reach $49 billion by 2026¹, Infrrd's commitment to innovation and excellence in Intelligent Document Processing (IDP) positions it at the forefront of the industry.
This year, prominent analyst firms, including Gartner, IDC, Everest Group, ISG, and GigaOm, have spotlighted Infrrd in their reports, acknowledging its prowess in the Intelligent Document Processing (IDP) space. These technologies play a pivotal role in driving intelligent automation across the globe and Infrrd has been commended for its patented technical capabilities, competitive strength, market impact, strategic vision, and customer-centric approach.
The report highlighted Infrrd’s unique offering of Zero-Touch or No-Touch Processing (NTP) and how this combined with performance-based pricing delivers the most value to our customers. Learn more about this offering here.
According to the IDC MarketScape report, ‘Infrrd focuses on differentiating itself from competitors via high-accuracy classification, extraction, and validation of semi- and unstructured use cases, along with building/enabling a high rate of straight-through processing (STP) for customers.’
"Infrrd's leadership in the IDP market is a testament to our commitment to customer success and our ability to deliver impactful solutions," commented Amit Jnagal, CEO and Founder of Infrrd. "We are dedicated to providing innovative technologies that immediately optimize business processes, and this recognition from top industry experts such as IDC reaffirms our position as a leader in the industry."
1 IDC, Worldwide Intelligent Process Automation Software Forecast, 2022–2026, September 2022.
About IDC MarketScape:
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
Founded in 2016, Infrrd spearheads innovation in intelligent document processing solutions. The company's leading-edge technologies empower businesses to streamline their document-related processes and improve operational efficiency. With a strong focus on customer success and continuous innovation, Infrrd is a trusted partner for organizations across various industries.
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For more information, visit www.infrrd.ai or connect with Infrrd on LinkedIn, Facebook, and X.