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ABBYY Named 2021 Leader in Intelligent Document Processing by ISG and Quadrant Knowledge Solutions

February 22, 2022
News 15 Businessbuildings

Fueled by the growing momentum for its intelligent document processing (IDP) solutions, ABBYY reports that it has been named a technology leader in both the ISG Provider Lens™ Intelligent Automation Solutions & Services Report for the U.S. U.K., Nordics, Brazil, and Germany, and Quadrant Knowledge Solutions 2021 SPARK Matrix for IDP. The recognition is due to the strong ratings of its comprehensive no-code platform for document processing, ABBYY Vantage. ABBYY is also positioned in the top grouping of ISG’s Matrix for the process mining market.

Going beyond traditional optical character recognition (OCR), ISG, a leading global research and advisory firm, defines intelligent document processing as software that uses artificial intelligence (AI) technologies such as natural language processing (NLP), machine learning (ML), computer vision, and deep learning to filter and analyze large volumes of unstructured data from multiple formats for further processing, storage, and use in other applications. IDP not only enables companies to reduce costs, but also to increase workforce productivity, improve accuracy, ensure compliance, and maximize customer satisfaction. ABBYY stands out for its industry proven portfolio of solutions coupled with customer-centric sales teams and strategic global partnerships with major RPA and other intelligent automation vendors. ABBYY provides customers with the content intelligence they need to maintain a competitive edge and gain business value.

“ABBYY’s strong vision and roadmap, large customer base and innovative technology offerings, coupled with friendly features for business users and its robust partner ecosystem, make it a dominant player in the IDP market,” commented Amar Changulani, Manager and Principal Analyst at ISG.

“ABBYY gives a tough competition to most of the market players with its robust OCR and RPA capabilities, high scalability performance, strong partnership ecosystem, multiple language support and broad range of industry coverage,” added Pranjal Singh, Analyst at Quadrant Knowledge Solutions.

“We are honored to be recognized as the leader for IDP by two well respected analyst firms,” stated Bruce Orcutt, ABBYY’s Senior Vice President of Product Marketing. “Across every industry, businesses are facing pressure to do more with fewer skilled resources. At the same time, they are focusing on customer and employee experiences as a key to improving revenue, margins, and retention. ABBYY Vantage delivers significant benefits for both, and organizations can apply document skills that closely support the way humans understand and manage content, saving them time and money while also reducing the risk of costly errors. We are continuously building new solutions to help accelerate enterprises who are at various stages of digital transformation.”

ABBYY’s recognition as an IDP Leader comes after a successful launch of ABBYY Vantage and ABBYY Marketplace. More than 500 organizations have started using the platform since the general release and provided overwhelmingly positive feedback about ABBYY’s new way of document processing, including four of the top U.S. banks and many cloud-based companies. The product was also named among the Trend-Setting Products of 2021 by KMWorld Magazine. To learn about the latest features and benefits of ABBYY Vantage, please visit Advanced AI Document Processing | Latest ABBYY Vantage 2.1 Release.

To access the full report on ISG Provider Lens™ Intelligent Automation – Solutions & Services 2021 – IDP (U.S.), please visit: https://www.abbyy.com/resources/report/intelligent-document-processing-isg-provider-lens/.

To access the full report on ISG Provider Lens™ Intelligent Automation – Solutions & Services 2021 – Process Mining (U.S.), please visit: https://www.abbyy.com/resources/report/process-mining-isg-provider-lens/.

To access the full report on Quadrant Knowledge Solutions SPARK Matrix for IDP 2021, please visit: https://www.abbyy.com/resources/report/intelligent-document-processing-quadrant-knowledge-solutions/.

About ABBYY

ABBYY empowers organizations to gain a complete understanding of their business processes and the content that fuels them with its Digital Intelligence platform. ABBYY technologies are used by more than 5,000 companies, including many of the Fortune 500, and are recognized for their leadership in Intelligent Document Processing (IDP) and Process Discovery & Mining for driving significant impact where it matters most: customer experience, effectiveness, profitability, and competitive advantage. ABBYY is a global company with offices in 14 countries. For more information, visit www.abbyy.com/company/about-us and follow us on LinkedIn, Twitter, and Facebook.

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Catherine Johnson

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