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Everest Group Names Datamatics as a ‘Star Performer’ & ‘Major Contender’ in the Intelligent Document Processing (IDP) Products PEAK Matrix® Assessment 2021

·3 min read

Datamatics, a global Digital Solutions, Technology and BPM Company, today announced that it has been recognized as a ‘Major Contender’ and ‘Star Performer’ in Everest Group’s PEAK Matrix for Intelligent Document Processing for its product TruCap+. The report is authored by Anil Vijayan, Ashwin Gopakumar, Samikshya Meher, Shiven Mittal, Utkarsh Shahdeo. The report assess 27 leading technology vendors in terms of their IDP product’s vision & capability and market impact and categorize them into Leaders, Major Contenders, Aspirants, and Star Performers.

Datamatics has been recognized for TruCap+ for the third consecutive year. TruCap+ is an AI-enabled Intelligent Document Processing (IDP) product that allows enterprises to realize faster time-to-value and achieve greater Straight-Through Processing (STP) with accuracy.

Key findings about TruCap+ in the Everest report:

  • TruCap+ is a component of Datamatics’ Intelligent Automation platform that combines its RPA platform TruBot, IDP solution TruCap+, and AI platform TruAI to deliver an overarching automation solution

  • It has an in-build OCR and also well integrates with third-party OCR engines including Google, AWS and Microsoft Azure cloud engines

  • TruCap+ has shown strong Y-o-Y growth in 2020, at higher-than-average market rate

  • The platform can identify and extract various data types such as tables, free-flowing text, handwritten text, barcodes, logos, stamps and signatures

  • It provides flexible deployment options such as on-premise, and on cloud

  • Clients are overall satisfied with the product and have appreciated the technical expertise of the vendor, the ability to understand business processes, and a partnership approach

  • Improvement in the overall client satisfaction score

  • TruCap+ has experienced significant client growth, increasing its share of clients in Continental Europe

"Datamatics is a Star Performer and Major Contender on Everest Group’s PEAK Matrix® for IDP software products in 2021. It has significantly enhanced the capabilities of its TruCap+ platform and achieved strong growth in the IDP market," said Anil Vijayan, Vice President, Everest Group. "Its enhanced user interface, robust reporting and analytics capabilities, strong customer support and training offerings, and integrated RPA and AI capabilities position it well for further success."

"Datamatics recognition as a ‘Star Performer’ indicates our significant investments steady growth in the IDP space. Last year, we launched a new version of TruCap+ which is template-free, cloud based and with pre-built AI/ML capabilities enabling business users to quickly achieve document automation," said Mitul Mehta, SVP & Head, Marketing & Communications, Datamatics. "We are proud to be named as Star Performer and Major Contender on Everest Group’s PEAK Matrix® for IDP software products in 2021."

To know more about TruCap+, visit https://trubot.datamatics.com/platform/trucap-datacapture-ocr

Everest Group is a consulting and research firm focused on strategic IT, business services and engineering services. Everest Group's PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products & solutions within various market segments.

Download a custom version of the report: https://www.datamatics.com/resources/analyst-reports/everest-group-peak-matrix-for-idp-technology-vendors-2021

About Datamatics

Datamatics (BSE: 532528 | NSE: DATAMATICS) provides intelligent solutions for data-driven businesses to increase productivity and enhance the customer experience. Datamatics portfolio spans across ITS, BPM, Engineering Services and Big Data & Analytics all powered by AI. It has established products in RPA, IDP, BI and AFC. Datamatics has presence across 4 continents with major delivery centers in the USA, India, and Philippines.

To know more about Datamatics, visit www.datamatics.com and on LinkedIn, Twitter, YouTube, and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210506005608/en/

Contacts

Sudeshna Mukherjee
Manager – Marketing & Corporate Communications
sudeshna.mukherjee@datamatics.com
+91-7738574137