Acquisition brings best-in-breed AI/ML technology to ProcessMaker in order to further the company’s commitment to automate complex mission-critical processes for enterprise clients.
ProcessMaker, a worldwide leader in digital business transformation and process management, announces the acquisition of the intelligent document processing specialist Doculayer, based in Amsterdam, The Netherlands. Doculayer is known for its powerful, next-generation intelligent document processing solution. With this acquisition, ProcessMaker expands on its comprehensive approach to process orchestration and automation. This ensures organizations focused on operational excellence, compliance, and digital transformation initiatives can improve processes, speed up automation decisions, and increase their bottom line.
Through the application of machine learning and artificial intelligence, Doculayer can classify and extract meaning and data from documents. Doculayer’s unique intelligence can handle not only structured data that resides in known forms and tables, but also completely unstructured data from images, chats, emails, and much more. According to one industry analyst, the average 1,000-FTE company wastes $3.1M per year searching within its data sources.
“So many complex processes still involve lots of inefficiencies because data appears to be unstructured and trapped in difficult-to-use formats. Once this data can be unlocked and intelligently interpreted, we are able to add incredible efficiencies to existing processes,” said Richard Smit, Founder and CTO of Doculayer. “Intelligent Document Processing adds tremendous value to process improvement, but it’s only one piece of the puzzle. What ProcessMaker is doing with the acquisition of Doculayer is completing the picture by adding intelligence from documents alongside their proven modeling, orchestration, and automation. This provides a complete process improvement vision to tackle the toughest process challenges faced in the enterprise.”
Legacy OCR solutions are clunky and only work for simple, known processes like basic receipt and invoice processing. These fall short when it comes to the extraction and manipulation of unique data sets. Large cloud vendors provide many free algorithms, but these are also problematic. They require an organization to have greater technical skills to apply the different algorithms and how to manage and scale systems.
“At ProcessMaker, we build low-code tools and solutions so that our customers can automate complex processes that deliver true value to their businesses,” said Brian Reale, CEO of ProcessMaker. “A large portion of our customers are still plagued by inefficiencies around documents, images, and emails that prevent them from gaining efficiencies from automation. Doculayer has processed more than 500 million documents for some of the world’s leading brands across dozens of highly complex process use cases. We are thrilled to welcome the highly skilled Doculayer team and the opportunity to bring further innovation to the world of process automation.”
Business analysts will benefit from the ProcessMaker holistic approach to process automation. ProcessMaker’s award-winning low-code process orchestration solution, united with Doculayer, ensures data can be used without manual extraction and interpretation of key data and documents.
Doculayer delivers the following advantages for Intelligent Document Processing (IDP):
- Low-Code Toolset for deploying IDP
- Out-of-the-box support for more than 20 languages
- Best-in-Class OCR
- Available both in the cloud and on premise
- ISO 27001 Certified
- 99% OCR accuracy
- Document Classification engine
ProcessMaker will incorporate Doculayer into their business process management (BPM) platform and accelerate product enhancements to benefit the growing ProcessMaker global customer base.
The acquisition is effective immediately. ProcessMaker delivers Low-Code Process Automation solutions to the largest companies in the world, particularly in Banking, Higher Education, and Manufacturing.