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  • State of the Market

    June 27, 2025
    Intelligent Document Processing (IDP) uses AI to capture, categorize, and extract data from various document types for further processing. This typically non-invasive solution can integrate with internal applications, systems, and other automation platforms. IDP technology providers are increasingly offering low-/no-code capabilities to enable citizen developers to build document intake and processing workflows. Providers are also integrating IDP with large language models and agentic AI capabilities to improve extraction accuracy, enhance context understanding, and enable end-to-end document processing. IDP adoption helps enterprises save costs, improve workforce productivity, and improve employee and customer experiences. In this report, we examine the IDP market, including buyers, software providers, and third-party enablers (providers and system integrators). The report also analyzes market size and adoption trends, buyer satisfaction, product capabilities and trends, solution characteristics, provider landscape, IDP adoption challenges, and outlook for 2025-26. It also offers insights into the Banking and Financial Services (BFS)-specific IDP market, covering key use cases, capabilities, and trends.
  • Provider Compendium

    April 30, 2025
    Intelligent Document Processing (IDP) products remain vital in enterprises’ automation technology portfolios. It uses AI technologies, such as Optical Character Recognition (OCR), computer vision, Natural Language Processing (NLP), and machine/deep learning, to classify and extract information from structured, semi-structured, and unstructured documents. Generative AI and agentic AI advances are driving providers to enhance their IDP capabilities. IDP integrates with internal applications, systems, and other automation platforms, offering a non-invasive approach. Continuous advances in IDP products result in ongoing improvements in capabilities, features, and functionalities. In the Banking and Financial Services (BFS) industry, the demand for specialized processing solutions is growing due to the document-intensive processes and their substantial presence in the broader IDP market. Since the BFS industry’s highly regulated nature of BFS industry, enterprises must carefully select a reliable and compliant IDP technology provider to successfully implement IDP. This compendium provides accurate, comprehensive, and fact-based snapshots of 29 leading IDP technology providers, including 10 leading BFS-specific IDP technology providers. Each profile includes the provider’s company overview, recent deals and announcements, market adoption and client portfolio mix, product features, and functionalities. Scope All industries and geographies The report examines IDP solutions that are sold on license, regardless of any ongoing business or IT process outsourcing or managed services This assessment is based on Everest Group’s annual RFI process for the year 2024-25, interactions with leading IDP technology providers, client reference checks, and an ongoing analysis of the IDP market Contents In this report, we: Assess providers’ recent deals and announcements Evaluate IDP products’ market adoption Analyze providers’ client portfolio mix and partnerships Examine providers’ product features
  • PEAK Matrix®

    March 27, 2025
    Intelligent Document Processing (IDP) products remain vital in enterprises’ automation technology portfolios. IDP uses AI technologies, such as Optical Character Recognition (OCR), computer vision, Natural Language Processing (NLP), and machine/deep learning, to classify and extract information from structured, semi-structured, and unstructured documents. Generative AI and agentic AI advances are also driving providers to enhance their IDP capabilities. The Banking and Financial Services (BFS) industry has shown strong demand for specialized processing capabilities due to numerous document-intensive processes and its significant market presence in the IDP market. IDP products’ advanced capabilities, features, and functionalities further drive this demand. Given the industry’s highly regulated nature, enterprises must collaborate with the right IDP technology providers to successfully implement IDP. In this report, we analyze 29 leading IDP technology providers’ and 10 BFS industry-specific IDP providers’ capabilities on Everest Group’s PEAK Matrix®. This research helps buyers select the right-fit technology providers for their needs and empowers technology providers to benchmark themselves against their competition. Scope All industries and geographies The report focuses on IDP solutions sold on license, regardless of any ongoing business or IT process outsourcing or managed services The report includes leading technology providers in the IDP market and providers that focus on the BFS-specific IDP market Contents In this report, we: Assess leading IDP technology providers and those specializing in BFS-specific IDP processes Position providers as Leaders, Major Contenders, Aspirants, and Star Performers Analyze the technology providers market’s competitive landscape Compare providers’ key strengths and limitations
  • Viewpoint

    Jan. 31, 2025
    Intelligent Document Processing (IDP) is an effective tool for enterprises seeking to reduce costs, improve employee and customer experiences, enhance overall efficiency, and tackle diverse document types. However, enterprises are often conservative when embarking on their IDP journeys due to ambiguity regarding the expected RoI and the impact IDP adoption can drive. In this report, we examine key IDP market trends and use cases across industries and functions. The report presents a detailed ROI assessment framework and evaluates IDP’s RoI across three use cases: invoice processing, insurance claims processing, and customer onboarding. By offering insights into various costs, hard and soft benefits, and RoI expectations, it equips business leaders to build a compelling business case for IDP adoption. The report also includes key success factors for organizations to gain maximum value from IDP deployment and unlock its full potential. Scope All industries and geographies Contents In this report, we: Examine IDP overview Assess key IDP use cases across industries and functions Analyze a framework to assess IDP’s RoI through three high-potential use cases Evaluate key success factors to maximize RoI from IDP Membership(s) Service Optimization Technologies (SOT) Sourcing and Vendor Management
  • State of the Market

    Dec. 27, 2024
    The impact sourcing ecosystem is rapidly expanding due to the growing interest in sustainable and socially responsible business practices. Enterprises and providers are increasingly incorporating diverse and underserved talent into their operations due to cost efficiency, access to specialized talent, and alignment with ESG and SDG objectives. Traditional providers dominate hiring volumes, while specialists see steady growth in revenue and headcount as they refine talent initiatives and partner with NGOs and educational institutions. Buyers recognize the dual value of cost benefits and corporate citizenship, advocating for more robust reporting and impact sourcing policies’ disclosure. In response, providers are investing in enhanced training programs, certifications, and technology upskilling, enabling impact workers to transition to more complex, higher-value roles. Despite generative AI’s disruptive potential concerns, agentic AI emerges as a promising tool to empower the impact workforce. Key market trends include the CXM industry’s increasing contribution to impact sourcing revenue, growing adoption of impact workers in MEA and APAC regions, and alignment with regulatory frameworks promoting fair labor practices. Governments support impact sourcing through incentives and regulations, while providers adopt inclusive hiring strategies and offer tailored employee support to complement workforce diversity and drive social impact. In this report, we explore macroeconomic drivers, buyer feedback, and generative AI’s influence on the impact sourcing space. Africa stands poised to lead the global impact sourcing growth, showing this approach’s transformative potential in fostering a purpose-driven and sustainable business landscape. The report aims to enable enterprises and providers to incorporate impact sourcing and other inclusive talent management strategies in their organizations. Scope Broad industry with a focus on impact sourcing talent strategy Geography: global Impact sourcing programs of both impact sourcing specialists and traditional service providers This report is based on primary and secondary data collection, conversations with market participants (buyers, outsourcing service providers, and impact sourcing specialists), and fact-based research Contents In this report, we analyze: The concept of impact sourcing and the comprehensive impact sourcing market landscape, including market size, trends, and talent portfolio Impact sourcing’s talent management practices across the hire-to-retire cycle Buyers’ take on impact sourcing Impact sourcing engagement case studies Technology’s role on the impact sourcing market and the future of impact sourcing programs Memberships This Market Report is available to All Memberships
  • State of the Market

    June 18, 2024
    Intelligent Document Processing (IDP) is any software product or solution that uses AI technologies to capture, categorize, and extract data from various document types for further processing. This typically non-invasive solution can be integrated with internal applications, systems, and other automation platforms. IDP technology providers are increasingly offering low-code/no-code capabilities to enable citizen developers to build document intake and processing workflows. Providers are also integrating IDP with Large Language Models (LLMs) to improve extraction accuracy and enable users to interact with documents via natural language prompts. IDP adoption helps enterprises save costs and improve workforce productivity and employee and customer experiences. In this report, we examine the IDP market, including buyers, software providers, and third-party enablers (providers and system integrators). The report also analyzes market size and adoption trends, buyer satisfaction, product capabilities and trends, solution characteristics, provider landscape, IDP adoption challenges, and outlook for 2024-25. It also offers insights into the banking- and insurance-specific IDP market, covering key use cases, capabilities, and trends. Scope All industries and geographies The report prioritizes IDP and banking- and insurance-specific IDP solutions sold on license, regardless of any ongoing business or IT process outsourcing or managed services This assessment is based on Everest Group’s annual RFI process for the calendar year 2023-24, interactions with leading IDP buyers and providers, client reference checks, and an ongoing analysis of the IDP market Contents In this report, we: Examine the IDP market outlook for 2024-25, market size, and adoption trends Analyze the IDP provider landscape and buyer expectations Assess IDP product capabilities, trends, and solution characteristics Study banking- and insurance-specific document processing Identify challenges and best practices for IDP adoption Membership(s) Service Optimization Technologies (SOT) Sourcing and Vendor Management
  • Provider Compendium

    May 08, 2024
    Intelligent Document Processing (IDP) products play a vital role in enterprises’ automation technologies portfolios. IDP leverages AI technologies such as Optical Character Recognition (OCR), computer vision, Natural Language Processing (NLP), machine/deep learning, and generative AI and LLMs to classify and extract information from structured, semi-structured, and unstructured documents. This solution typically integrates with internal applications, systems, and other automation platforms, offering a non-invasive approach. Continuous advances in IDP products result in ongoing improvements in capabilities, features, and functionalities. The demand for specialized processing solutions within banking and insurance is escalating due to the document-heavy processes inherent in these sectors and their substantial presence in the broader IDP market. Due to the highly regulated nature of banking and insurance, it is imperative for enterprises in these industries to carefully select a reliable and compliant IDP technology provider to successfully implement IDP. This compendium provides accurate, comprehensive, and fact-based snapshots of 26 leading IDP technology providers’ (including 10 leading banking-specific IDP technology providers and 10 leading insurance-specific IDP technology providers) offerings and capabilities. Each profile includes the provider’s company overview, recent deals and announcements, market adoption and client portfolio mix, product overview and partnerships, product features, and functionalities. Scope All industries and geographies The report examines IDP solutions that are sold on license, regardless of any ongoing business or IT process outsourcing or managed services The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading IDP technology providers, client reference checks, and an ongoing analysis of the IDP market Contents This report features 26 leading IDP technology provider (including 10 leading banking-specific IDP technology providers and 10 leading insurance-specific IDP technology providers), each of which includes: Company overview Recent deals and announcements Market adoption Client portfolio mix Partnerships Product overview Product features and functionalities Membership(s) Service Optimization Technologies (SOT) Outsourcing Excellence
  • PEAK Matrix®

    April 04, 2024
    Intelligent Document Processing (IDP) products continue to play a vital role in enterprises’ automation technology portfolios. IDP uses AI technologies such as Optical Character Recognition (OCR), computer vision, Natural Language Processing (NLP), and machine/deep learning to classify and extract information from structured, semi-structured, and unstructured documents. Advances in generative AI are driving providers to ramp up their IDP capabilities. The banking and insurance industries have exhibited strong demand for specialized processing capabilities, driven by numerous document-intensive processes and their significant market presence within the overall IDP market. This demand is further propelled by the advanced capabilities, features, and functionalities offered by IDP products. Given the highly regulated nature of these industries, enterprises must collaborate with suitable IDP technology providers to successfully implement IDP. In this report, we assess 26 leading technology providers and position them on Everest Group’s IDP PEAK Matrix® as Leaders, Major Contenders, Aspirants, and Star Performers based on their capabilities and offerings. Additionally, the report assesses 10 leading IDP providers (positioning them on Everest Group’s Banking-specific IDP Products PEAK Matrix®) and 10 leading IDP providers (positioning them on Everest Group’s Insurance-specific IDP Products PEAK Matrix®). The research will help buyers select the right-fit technology providers for their needs, while technology providers will be able to benchmark themselves against each other. Scope All industries and geographies The report focuses on IDP solutions sold on license, regardless of any ongoing business or IT process outsourcing or managed services The report includes leading technology providers in the overall IDP market and providers that focus on banking and insurance-specific IDP market Contents In this report, we: Position top IDP technology providers and those specializing in banking and insurance-specific processes on Everest Group’s PEAK Matrix®, categorizing them as Leaders, Major Contenders, Aspirants, and Star Performers Analyze the technology provider market’s competitive landscape Discuss providers’ key strengths and limitations Membership(s) Service Optimization Technologies (SOT) Outsourcing Excellence
  • Thematic Report

    Feb. 23, 2024
    In today’s dynamic talent market, where competition is fierce, organizations must actively monitor key roles and skills, identifying both in-demand and emerging ones, allowing for strategic workforce planning. A higher demand may indicate more significant competition for talent or a higher probability of attrition in the near future. Thus, analyzing talent demand trends is vital for strategizing workforce requirements, predicting external competition, and understanding leading industries for talent acquisition. Everest Group’s half-yearly report offers insights into monthly IT services talent demand trends across India, highlighting top industries, roles, and skills based on H2 2023 demand. Leveraging data from our Talent Genius™ tool, the report provides a comprehensive analysis of the current talent market, empowering organizations to stay competitive, plan for future workforce needs, and make informed talent acquisition decisions. Scope Industry: IT services Geography: India Contents In this report, we analyze talent demand trends within the IT services sector in India on a national scale. Additionally, we provide detailed profiles of 15 major Tier-1 and Tier-2 cities, offering insights into talent demand trends, top industries, key roles, and essential skills in each location. Membership(s) This Market Report is available to All Memberships
  • Thematic Report

    Aug. 31, 2023
    In today’s rapidly evolving talent market, where competition is intense, organizations must actively monitor key roles and skills, identify both in-demand and emerging skills, and then prioritize them according to market demand. A higher demand or an increasing demand may indicate more significant competition for talent or a higher probability of attrition in the near future. Thus, analyzing talent demand trends is vital for organizations to strategize their workforce requirements, predict external competition, and gain insights into the leading industries from which to acquire necessary talent. Everest Group’s half-yearly report presents monthly IT services talent demand trends across India, with insights into top industries, roles, and skills based on the demand in H1 2023. The report is based on data gathered from Talent GeniusTM, our cutting-edge talent and location intelligence tool. By providing a comprehensive analysis of the current talent market, the report equips organizations with the insights required to stay competitive, plan for future workforce needs, and make well-informed talent acquisition decisions. Scope Industry: IT services Geography: India Contents In this report, we analyze talent demand trends for the IT services function in India at a national level and present detailed profiles of 15 major Tier-1 and Tier-2 cities, including a comprehensive understanding of talent demand trends, top industries, roles, and skills. Membership(s) Available under all membership areas