Ephesoft Inc., a leader in intelligent document processing, automation and data enrichment solutions, today announced that the company was included in the 2021 Gartner report covering the intelligent document processing (IDP) competitive landscape. The Competitive Landscape: Intelligent Document Processing Platform Providers (Published 8 November 2021) estimates, “At a $1.2 billion market size in 2020, intelligent document processing is an integral technology enabling hyperautomation in the processing of structured, semistructured and unstructured content. This research outlines the evolving competitive landscape.”

“Ephesoft is committed to amplifying and innovating the hyperautomation space and we are thrilled to be recognised in this Gartner Competitive Landscape report,” said Ike Kavas, founder and CEO at Ephesoft. “Our focus now and in the future will be on delivering AI-powered IDP solutions that not only provide hyper-speed processing, accuracy and efficiency but are the premier data source to other intelligent automation tools.”

Ephesoft’s IDP platform automates structured, semistructured and unstructured document-centric processes and drives operational efficiencies. Ephesoft noted that the recognition comes on the heels of its recent product release that delivers industry-leading 88% accuracy rates for handwriting and cursive recognition – one of the most difficult types of unstructured data to capture. The platform not only digitalises previously labour-intensive processes and eliminates manual data entry but also enables digital transformation downstream by making the data available to other workflows and systems.

“IDP forms one of the basic building blocks of the technology spectrum leveraged to enable hyperautomation.” Further Gartner states: “Driven by client demand for increased process automation, growth has been rapid during the past three to four years.” According to the report, “With the maturity of usage of RPA technology within clients, they embarked on more ambitious automation projects that required more sophisticated tools than optical character recognition (OCR) tools to capture, understand and process all kinds of complicated content/documents.”

To learn more about Ephesoft’s IDP platform and solutions, visit ephesoft.com.