Parashift Positioned as the Leader in the 2022 Spark Matrix for Intelligent Document Processing by Quadrant Knowledge Solutions

• The Quadrant Knowledge Solutions SPARK Matrix provides competitive analysis & ranking of the leading Intelligent Document Processing vendors.

• Parashift, with its comprehensive technology and customer experience management, receives strong ratings across the parameters of technology excellence and customer impact.

Quadrant Knowledge Solutions announced that it has named Parashift as a 2022 technology leader in the SPARK Matrix analysis of the global Intelligent Document Processing market.

The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix. It gives strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.

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According to Madhu Kittur, Analyst, Quadrant Knowledge Solutions, “Parashift’s proprietary Document Swarm Learning offers autonomous document extraction capabilities enabled with intelligent AI Models, through a cloud-native enterprise-grade SaaS platform. The platform offers an intuitive UI, promoting seamless integration capabilities across business applications by making use of APIs and pre-built connectors. It is further powered by the proprietary swarm AI which ensures the re-use of machine learnings and configurations, along with the creation of new use-cases”. She further adds, “The company is capable of catering to diverse customer needs across industry verticals. With its comprehensive capabilities, compelling customer references, comprehensive roadmap and vision, robust cloud-native platform, and product suite with high scalability, Parashift has received strong ratings across the parameters of technology excellence and customer impact and has been positioned as a leader in the SPARK Matrix: Intelligent Document Processing, 2022”.

“We are thrilled that Parashift has been named the leader in Intelligent Document Processing just 20 months after the public product launch. We will continue to invest heavily in building the most versatile cloud-native IDP solution based on the fastest growing and most diverse data network in the document space.” Alain Veuve, Founder and CEO of Parashift.

Intelligent document processing (IDP) is a technique for automatically extracting useful information from documents received by the organization in a variety of formats, including structured, semi-structured, and unstructured documents. IDP uses different technologies such as Artificial Intelligence (AI), Machine Learning (ML), Optical Character Recognition (OCR), Computer Vision, Robotic Process Automation (RPA), Natural Language Technology (NLT), and Intelligent Character Recognition (ICR) to extract, interpret, and classify the relevant data from word files, emails, PDFs, scanned documents, and other formats for performing analysis and streamlining workflow automation.

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