Everest Group Names ABBYY a Leader in Its Intelligent Document Processing Products PEAK Matrix Assessment 2019

By STS News Desk On Apr 5, 2019

ABBYY Promotes Chip VonBurg to Chief Customer Officer to Accelerate Global Customers’ Intelligent Automation Success

ABBYY, a global leader in Content IQ technologies and solutions, has been recognized by Everest Group, a leading consulting and research firm, as a Leader in its Intelligent Document Processing (IDP) products PEAK Matrix Assessment 2019. ABBYY is positioned in the top grouping of the comparative assessment among 16 vendors due to its impact in the market and its vision and capabilities to deliver solutions successfully.

ABBYY has emerged as a Leader in Everest Group’s PEAK Matrix for IDP software products in 2019

Everest Group defines Intelligent Document Processing (IDP) as any software product or solution that captures data from documents (e.g., email, text, pdf, and scanned documents), categorizes and extracts relevant data for further processing using AI technologies such as computer vision, OCR, Natural Language Processing (NLP), and machine/deep learning. These solutions are typically non-invasive and can be integrated with internal applications, systems, and other automation platforms.

“We are honored to be recognized as a Leader for intelligent document processing, especially after achieving double digit revenue growth during 2018,” stated Ulf Persson, Chief Executive Officer at ABBYY. “Organizations are ready for wide deployments of AI capabilities within their content-centric processes, yet, we have identified a shift in the way they are consuming technology. We are continuing to innovate new solutions to meet and help accelerate enterprises at their various stages of digital transformation.”

ABBYY’s recognition as an IDP Leader comes on top of an exceptionally successful 2018. The company earned 15% revenue growth, increased its global partner network by more than 20%, and its intelligent capture revenue grew by 34% – five times the market growth rate. The company also formed strategic partnerships with RPA vendors featured in the Everest Group Robotic Process Automation (RPA) – Technology Vendor Landscape with Products PEAK Matrix Assessment 2018 such as UiPath, BluePrism and NICE Systems.

“ABBYY has emerged as a Leader in Everest Group’s PEAK Matrix for IDP software products in 2019. Its wide partner ecosystem that comprises several RPA technology vendors, service providers, and system integrators, as well as its robust implementation support has enabled ABBYY to secure the highest position on the axis evaluating market impact,” commented Anil Vijayan, Practice Director at Everest Group. “ABBYY’s clear vision to provide document-centric intelligence for enterprises, combined with business-user friendly features, such as the ability to define internal and external validation rules, confidence level customization, and the ability to review training batches position it well for success.”

ABBYY stands out for its industry proven portfolio of solutions that leverage machine learning, natural language processing and intelligent capture to enable AI capabilities. Coupled with strategic global partnerships with major RPA vendors and customer-centric sales teams, ABBYY provides customers with the content IQ they need to maintain a competitive edge and gain business value.