Company’s Proprietary AI-driven and Machine Learning Capabilities Ensure Highly Accurate Document Processing and Better, More Cost-Effective Business Practices
SAN JOSE, Calif., February 16, 2022--(BUSINESS WIRE)--Infrrd, a leading provider of Intelligent Document Processing (IDP) solutions, announced today its inclusion in four recent reports by Gartner. Each report cites Infrrd’s proprietary artificial intelligence (AI)-led IDP technology and relevant capabilities.
The recent reports include:
Competitive Landscape: Intelligent Document Processing Platform Providers (November 8, 2021)
This research report outlines the evolving competitive landscape. It cites, "At a $1.2 billion market size in 2020, intelligent document processing is an integral technology enabling hyperautomation in the processing of structured, semi-structured and unstructured content." In the competitive profiles section, the report includes Infrrd among 10 IDP vendors within the [IDP] market.
This report states, "We selected vendors based on the IDP revenue in calendar year 2020, reported by vendors in the vendor survey that Gartner conducted in July and August 2021 (those that disclosed their revenue in the survey)."
The report cites that IDP’s value proposition "promises benefits such as significantly reduced processing time for documents and reduced errors from manual processing, increasing efficiency and efficacy. Documents could also be various types, physical or electronic, composed of data that could be structured, semi-structured or unstructured. Mature IDP platforms, ideally, should be able to process all such documents and data structures to automate business workflows and enterprise processes."1
3 Ways AI Benefits Customer Service Organizations (November 2, 2021)
The research report discusses how "AI techniques and solutions can improve customer service operations in three important ways. Customer service and support leaders should use AI to offer insights or predictions, improve user experiences, and optimize business process automation." Infrrd is mentioned as an example vendor for Intelligent Document Processing.2
Emerging Use Cases for Natural Language Technology (October 13, 2021)
According to this Gartner report "Enterprises sit on unexploited unstructured data, with opportunities to extract differentiating insights. Data and analytics technical professionals must uncover such insights by applying natural language technology solutions: intelligent document processing, conversational AI and insight engines".3
Infrrd is named as a Representative Vendor in the Intelligent Document Processing use cases section. The report includes examples of use cases for IDP, including the home mortgage business’ needs to verify whether all the required documents were submitted with the loan application. IDP can automate the verification of these documents, which would otherwise be manually verified. Supply chain processes involve processing invoices, a large majority of them on paper. This can be a manual, tedious and time-consuming process. IDP automates the digitization and data extraction of the various invoice components and feeds them into the system. Medical documents, such as patient records and doctors’ notes, include unstructured formats. The large volume of such documents makes IDP a viable option for extracting and analyzing trends.
Comparing Platforms and Capabilities for Data Science and AI (December 6, 2021)
Gartner indicates "With many products offering data science and AI capabilities, it is challenging to identify the right tools to support advanced analytic initiatives. This document helps data and analytics technical professionals decide which features to consider to expand their analytic capabilities." Infrrd is included in the IDP section of this report.4
"We believe these Gartner recognitions of Infrrd’s proprietary and patented AI engine and machine learning solutions further demonstrate our capabilities in IDP in the marketplace. Our proven technologies significantly improve accuracy in the extraction and management of data over time. Customers are seeing drastic improvement in their business operations, enhancement of their efficiencies and better control over their costs," stated Amit Jnagal, Infrrd founder and chief executive officer.
"In fact, Infrrd customers across a range of industries are communicating to us the importance and value of our 100 percent data extraction confidence offering. We consider being recognized by Gartner in four reports over the course of a brief three-month period highly impressive and a feat for which we are extremely proud," he said.
The four Gartner reports in which Infrrd is included can be found on the Gartner website at www.gartner.com/en.
Infrrd customers can feel confident in the Company’s IDP technology as every solution offered is backed by industry-standard certifications, such as ISO-27001, and is also General Data Protection Regulation (GDPR)-compliant.
1. Gartner, "Competitive Landscape: Intelligent Document Processing Platform Providers," Arup Roy, Arthur Villa, Cathy Tornbohm, Soyeb Barot, November 8, 2021.
2. Gartner, "3 Ways AI Benefits Customer Service Organizations", Bern Elliot, Emily Potosky, November 2, 2021.
3. Gartner, "Emerging Use Cases for Natural Language Technology," Sumit Agarwal, October 13, 2021.
4. Gartner, "Comparing Platforms and Capabilities for Data Science and AI", JC Martel, December 6, 2021.
Disclaimer: GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
San Jose, Calif.-based Infrrd is a leading provider of proprietary and patented Intelligent Document Processing (IDP) solutions, which leverage artificial intelligence (AI) and machine learning to enable enterprises to extract and manage data from semi-structured and unstructured documents in large volumes. Infrrd offers pre-built, highly configurable solutions for managing complex documents with reliable accuracy, such as invoices, claims and bank statements while also allowing organizations to create and train new models. Enterprises across the globe use Infrrd’s solutions to enhance employee productivity, improve operations, accelerate business scalability, reap cost efficiencies and deliver exceptional customer experiences.
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