Evolving into a digital-first business is becoming increasingly important for organizations to remain resilient and competitive. As enterprises move along this journey, data availability and digitalization are key levers to ensure business resiliency. However, while digital-first enterprises need to be data driven, over 80% of enterprise data is locked in unstructured formats and is unavailable for downstream applications. Intelligent Document Processing (IDP) helps overcome these challenges by leveraging AI to streamline document processing and automate the conversion of unstructured data into digital formats. Using a five-step approach to adopt and increase the use of IDP solutions, Everest Group’s Intelligent Document Processing Playbook taps into various frameworks, such as the Everest Group Pinnacle Model® and the Capability Maturity Model (CMM), to enable enterprises to envision where they want to get with automating data capture, create a business case for adoption, identify the capabilities they need to develop to get there, and plot the paths for their journeys. It also outlines a framework for enterprises to develop a business case for IDP solution adoption. The Playbook also describes IDP market characteristics, challenges to IDP adoption, best practices in the IDP journey, enterprise case studies, and future outlook. Scope All industries and geographies Contents In this report, we: Define IDP and describe its advantages Describe IDP market characteristics Outline an enterprise IDP journey Examine the challenges and best practices in the IDP journey Assess the future outlook for IDP Membership(s) Service Optimization Technologies (SOT) Sourcing and Vendor Management

Intelligent Document Processing (IDP) can offer multiple benefits – improved document processing accuracy, reduced cost, faster turnaround time, and enhanced employee experience, among others. These solutions can be integrated with internal applications, systems, and other automation platforms. IDP products find a wide variety of use cases across business functions and verticals, and, thus, many enterprises and global service providers are investing in IDP. However, IDP is a burgeoning market with technologies that are relatively new to many potential buyers, in terms of solution features, deployment models, and commercial aspects. These products are also rapidly evolving in the sophistication of their capabilities, features, and functionalities. This report analyzes the IDP technology market across various dimensions, such as key drivers for adoption, buyer satisfaction with vendor capabilities, and key strengths and areas of improvement according to buyers. Scope All geographies and industries IDP software products that leverage AI / cognitive capabilities and are available for independent licensing; these products are offered as either platforms that allow enterprises to deploy them as out-of-the box solutions using pre-built modules or as custom solutions that help classify and extract data We have analyzed the following technology vendors for this report: ABBYY, AntWorks, Automation Anywhere, BIS, Datamatics, EdgeVerve, Ephesoft, Evolution AI, HCL Technologies, Hyperscience, Ikarus, Infrrd, Kofax, OpenText, Parascript, Rossum, UST SmartOps, and WorkFusion Contents In this research, we study the following topics: Key buyer drivers/objectives for IDP adoption Buyer satisfaction with products/vendors in meeting objectives Buyer satisfaction with the products’/vendors’ capabilities across various capability dimensions and subdimensions Key strengths and areas of improvements according to buyers Membership(s) Service Optimization Technologies (SOT)

Everest Group defines Intelligent Document Processing (IDP) as a process that leverages a software product or solution to capture data from documents (e.g., emails, text, PDFs, and scanned documents), categorize it, and extract relevant data for further processing using AI technologies such as computer vision, Optical Character Recognition (OCR), Natural Language Processing (NLP), and machine/deep learning. The solution is typically non-invasive and can be integrated with internal applications, systems, and other automation platforms. IDP products find a wide range of uses in different business functions and verticals. They are offered as either platforms that allow enterprises to deploy out-of-the-box solutions using pre-built modules or as custom solutions that help buyers classify and extract data from documents. IDP solutions help enterprises to not only achieve cost savings, but also improve workforce productivity and employee & customer experience. These products are rapidly becoming more sophisticated in their capabilities, features, and functionalities. In this report, we feature detailed profiles of 18 leading IDP technology vendors’ offerings and capabilities, which will help existing and potential IDP buyers assess the vendors on the capabilities they desire. Scope This report covers the following IDP technology vendors: ABBYY, AntWorks, Automation Anywhere, BIS, Datamatics, EdgeVerve, Ephesoft, Evolution AI, HCL Technologies, Hyperscience, Ikarus, Infrrd, Kofax, OpenText, Parascript, Rossum, UST SmartOps, and WorkFusion. Geography: global Industry: IDP Contents This report provides key stakeholders a snapshot of 18 leading IDP technology vendors’ offerings and capabilities. It also allows technology vendors to compare their offerings, capabilities, and areas of strength & improvement with other vendors in the marketplace. Each technology vendor profile includes the following details: Company overview Recent investments & announcements Market adoption & capability overview Client portfolio mix Partnerships Product overview Product features & functionalities and key enhancements Measure of capabilities across PEAK Matrix® dimensions Key strengths & areas of improvement

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. Adoption of IDP solutions can not only help enterprises achieve cost savings, but also improve their workforce productivity as well as employee and customer experience. Using a five-step approach to adopt and expand IDP solutions, Everest Group’s Intelligent Document Processing Playbook taps various frameworks, such as the Everest Group Pinnacle Model™ and Capability Maturity Model (CMM), to empower enterprises to conceptualize where they want to get with automating data capture, create a business case for adoption, identify capabilities they need to develop to get there, and plot the path for their journeys. It also outlines a framework for enterprises to develop a business case for IDP solution adoption. The Playbook also highlights IDP market characteristics, challenges and best practices for the IDP journey, enterprise case studies, and future outlook. Membership(s) Service Optimization Technologies (SOT)