MILPITAS, Calif., Jan. 19, 2021 – Driven by the new paradigm of remote working and the need to access and leverage information quicker, ABBYY reported continued strong momentum for its Content Intelligence solutions during 2020. Global organizations ranging from financial services processing SBA PPP loans and transforming finance, transportation and logistics reducing transaction costs, and government agencies accelerating public health initiatives relied on ABBYY to capture and gain understanding and insight from their content to immediately enable their distributed workforce to better serve customers.
“Our goal has always been to meet the critical needs of businesses that are struggling with their automation efforts with Digital Intelligence capabilities that accelerate their digital transformation,” said Bruce Orcutt, Senior Vice President of Marketing at ABBYY. “This past year was especially challenging for many people and organizations, not only personally, but also from a business continuity perspective. We’re proud to have been a part of making an impact where it counts most – being the catalyst for intelligent automation that helps employees do their jobs more efficiently and improves customer experiences.”
ABBYY Content Intelligence solutions are part of its Digital Intelligence offering which also includes critical process understanding and enables intelligent automation platforms to understand and create meaning from enterprise content. ABBYY content intelligence solutions can be quickly consumed as a service providing the ability to carry out a task like capturing and routing a document, extracting data, or any other task related to understanding and processing content. Having this real-time access to information is the cornerstone to having comprehensive digital intelligence into how your business is operating and fuel more positive outcomes.
Several industry analyst firms have recognized ABBYY as a leader in Intelligent Document Processing including most recently Quadrant Knowledge Solutions in its SPARK Matrix for high ratings in technology excellence and making an impact to customers, as well as by InfoSource, Everest Group, and GMI Research in its Content Intelligence Market report.
“ABBYY has a robust technology platform with comprehensive functional capabilities, a competitive differentiation strategy, and compelling product strategy and roadmap,” remarked Shruti Jadhav, Industry Manager at Quadrant Knowledge Solutions. “With highest overall ratings, ABBYY is positioned as the clear technology leader in the 2020 SPARK Matrix of the intelligent document processing market. Furthermore, ABBYY has a strong partnership ecosystem and support for a broad range of industry-specific use cases that deliver high customer impact.”
Increased demand for ABBYY’s content intelligence solutions is driven by the company’s strong global market position, proven machine learning technology, continued innovation, and its growing worldwide network of partners. The latest partners include solution providers in robotic process automation (RPA) and others that help organizations accelerate their digital transformation such as Incture, Olive AI, and JAGGAER.
“ABBYY provides the essential content intelligence fuel for our Cherrywork® platform,” said Sachin Verma, Founder & CEO, at Incture. “ABBYY has exceptional expertise in transforming unstructured content into valuable business data that is especially necessary for migrating customers to SAP Cloud. As we continue to grow subscribers for our cloud-based hyper-automation applications, we see great opportunity in partnering with ABBYY to deliver digital intelligence to enterprises running on SAP.
Sachin, further added, “We are seeing our customers preferring ABBYY for the reliable content intelligence. ABBYY solutions make it easy for us to integrate content-driven intelligent digital applications with SAP systems that enable mission critical business processes.”
The capture market is expected to increase to approximately $1 billion according the IDC Worldwide Capture Applications Forecast Update, 2020–2024. IDC also conducted a survey which found organizations’ average spending for content intelligence technologies increased 31% over the last year.
Orcutt concluded, “As businesses, employees and customers face disruptions across every sector, especially as more employees work from home, solutions are needed to increase process efficiencies and enhance profit margins. Our content intelligence offerings have become critical for the success of automation initiatives and we expect this need to continue as companies shift from business continuity to improving the user experience.”