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