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. 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. 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 research, we present assessments of 18 IDP technology vendors on the IDP PEAK Matrix®. The assessment is based on Everest Group’s annual RFI process for the calendar year 2019, interactions with leading IDP technology vendors, client reference checks, and an ongoing analysis of the IDP market.

Scope

This research 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.

Contents

This report analyzes the IDP technology landscape across various dimensions:

• Everest Group’s PEAK Matrix® evaluation, a comparative assessment of 18 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

Membership(s)

Service Optimization Technologies (SOT)