Intelligent Document Processing (IDP), Banking-specific IDP, and Insurance-specific IDP Products

Intelligent Document Processing (IDP) products continue to play a vital role in enterprises’ automation technology portfolios. IDP uses AI technologies such as Optical Character Recognition (OCR), computer vision, Natural Language Processing (NLP), and machine/deep learning to classify and extract information from structured, semi-structured, and unstructured documents. Advances in generative AI are driving providers to ramp up their IDP capabilities.

The banking and insurance industries have exhibited strong demand for specialized processing capabilities, driven by numerous document-intensive processes and their significant market presence within the overall IDP market. This demand is further propelled by the advanced capabilities, features, and functionalities offered by IDP products. Given the highly regulated nature of these industries, enterprises must collaborate with suitable IDP technology providers to successfully implement IDP.

Intelligent Document Processing 2024

What is in this PEAK Matrix® Report

In this report, we examine 26 leading technology providers and position them on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, Aspirants, and Star Performers based on their capabilities, offerings, and limitations. This research will help buyers select the right-fit providers for their needs and enable providers to benchmark themselves against each other.
 

BankingIDP2024
What is in this PEAK Matrix® Report

In this report, we examine 10 leading IDP banking providers and position them on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, Aspirants, and Star Performers based on their capabilities, offerings, and limitations. This research will help buyers select the right-fit providers for their needs and enable providers to benchmark themselves against each other.

InsuranceIDP2024 1

What is in this PEAK Matrix® Report

In this report, we examine  10 leading IDP insurance-specific providers and position them on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, Aspirants, and Star Performers based on their capabilities, offerings, and limitations. This research will help buyers select the right-fit providers for their needs and enable providers to benchmark themselves against each other.

Contents: 

In this report, we:

  • Position top IDP technology providers and those specializing in banking and insurance-specific processes on Everest Group’s PEAK Matrix®, categorizing them as Leaders, Major Contenders, Aspirants, and Star Performers
  • Analyze the technology provider market’s competitive landscape
  • Discuss providers’ key strengths and limitations

Scope:

  • All industries and geographies
  • The report focuses on IDP solutions sold on license, regardless of any ongoing business or IT process outsourcing or managed services
  • The report includes leading technology providers in the overall IDP market and providers that focus on banking and insurance-specific IDP market
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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

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