Intelligent document processing company Infrrd has been recognized as a Star Performer and Major Contender in Everest Group’s “Intelligent Document Processing (IDP) Products PEAK Matrix® Assessment 2021.”
Infrrd, which was named a Star Performer and Major Contender in Everest’s 2021 IDP Matrix, uses template-free IDP to enable enterprises around the world to digitize their data intake and transform their business processes, regardless of the document variation they need to tackle.
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The Infrrd IDP platform’s cognitive capabilities, user-friendly interface, and flexibility to process different data types, combined with its rapid growth in the market have helped Infrrd emerge as a Star Performer and Major Contender on Everest Group’s PEAK Matrix® for IDP software.
Everest’s PEAK Matrix evaluates vendors across 10 areas that deliver the most business value to enterprises, with a focus on vision and capability as well as market impact. This year’s Star Performer designation highlights Infrrd for year-over-year performance improvement.
“Infrrd’s IDP platform allows enterprises to classify and extract data from semi-structured and unstructured documents. It offers pre-built, out-of-the-box models for use cases such as claims and bank statements for easy adoption, while also allowing enterprises to create custom models in a low-code environment. The platform’s cognitive capabilities, user-friendly interface, and its flexibility to process different data types, combined with its rapid growth in the market have helped Infrrd emerge as a Star Performer and Major Contender on Everest Group’s PEAK Matrix® for IDP software products in 2021,” said Anil Vijayan, Vice President, Everest Group.
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The platform employs prediction, not templates, and can handle variation across document types. It can holistically read and classify documents quickly, using a series of algorithms that remove the guesswork from extraction and provide accurate data to fuel processes enterprise-wide. Its deployment speed and ease of use make it better able to meaningfully optimize business processes.
The 2021 IDP PEAK Matrix 2021 includes 27 vendors, and Infrrd’s placement reflects the company’s momentum. Enterprises are increasingly investing in automation as a way to improve efficiency and to deliver better customer experiences. Infrrd’s proprietary intelligent document processing capabilities allow them to meaningfully extract the data they need to fuel and scale their operations.
Infrrd has continued expanding its capabilities to deliver business value to its customers. Its proprietary AI platform combines data and context, adding a significant depth of exploration to each document. Its platform enables enterprises to create better experiences for their customers and to grow their businesses in ways they were never able to before.
Infrrd has set itself apart with the development of prepackaged solutions for a number of industries and use-cases that need to tackle variation and unstructured documents to fuel their processes.
“We are proud of the work Infrrd has done this year in growing its capabilities and engaging its customers and appreciate Everest Group’s recognition of our role as a Star Performer and Major Contender in the IDP market,” says Infrrd CEO Amit Jnagal. “We are committed to removing friction from the document extraction process, and to supporting enterprises in their transformational automation journeys.”