SAN JOSE, Calif., Oct. 2, 2021 /PRNewswire-PRWeb/ — Infrrd, a leading provider of Intelligent Document Processing (IDP) solutions, today announced that it has been identified as a Sample Vendor in the Gartner Hype Cycle for Natural Language Technologies 2021 report in the IDP category.
EXCERPTS FROM THE REPORT:
Why Is This Important
Intelligent document processing is increasingly important to create operational efficiencies in business processes that need to extract information from semistructured and unstructured data for further analysis. These processes currently are majorly human-centric. IDP caters to a wide variety of use cases — from digitization initiatives to support more complex processes such as document-centric taxation processing and pension fund management.
- Reducing human labor to process documents and the improvement of document-based workflows.
- Extracting relevant data from different input formats for further analysis or automation.
- Preprocessing unstructured data for analysis.
- Automated document and email classification and consolidation.
- Discovery and insight.
- Creating workflows to support process automation or integrate with existing automation solutions.
The Infrrd IDP 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.
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. We appreciate Gartner’s recognition as a Sample Vendor in the Intelligent Document Processing market in Hype Cycle for Natural Language Technologies, 2021. We believe this further reinforces our solution’s value to our customers.” 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.”
 Gartner, “Hype Cycle for Natural Language Technologies,2021,” By Analyst(s): Bern Elliot, Anthony Mullen, Adrian Lee, Stephen Emmott, Published 21 July 2021.
Gartner does not endorse any vendor, product, or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Infrrd, headquartered in San Jose, California, is driving innovation ahead in the AI space with its proprietary Intelligent Document Processing (IDP) platform. Our 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 invoices, claims, and bank statements for easy adoption, while also allowing enterprises to create and train custom models. The platform has advanced cognitive capabilities, a user-friendly interface, and the flexibility to process different data types, contributing to its rapid growth in the market. Enterprises across the globe use Infrrd solutions to automate more, improve employee productivity, accelerate business processes, and deliver exceptional customer experiences.
Lynnette Caballes Alban, Infrrd, +1 4109051582, [email protected]
Megha Mathews, Infrrd, [email protected]