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