Intelligent document processing (IDP) startup Singularity Systems (AYR.ai) is the latest emerging company to be crowned “Hottest of the Hot Vendors” at the recent HFS Super Summit event (see image below). Worthy finalists that put up fierce competition for Singularity Systems: Abacode Cybersecurity & Compliance, Krista Software GmbH, Newt Global with Rackspace Technology, Nividous, Working Solutions, and Worksoft.
Singularity Systems used part of its two-minute pitch to show a video – ending with the call to action ‘Are You Ready?’ That, in part, inspired their post-event rebrand as AYR.ai. For more about their plans and new branding, watch this Hot Vendor Fireside videocast.
Representatives from each vendor brought something compelling to the stage as they pitched their company’s value proposition to convince the 200+ industry leaders at the Summit to vote for them. HFS’ Executive Research Leaders Elena Christopher and Melissa O’Brien acted as Shark Tank-style judges, sense-checking and questioning the vendors’ claims to help the audience vote for “the Hottest of the Hot Vendors.” We captured highlights of each vendor’s Super Summit pitch:
- Abacode: Cybersecurity is broken, asserted Abacode. Protection, remediation, and compliance need a full rehaul, and what this startup offers would give enterprises a line of sight into their full cybersecurity spend. Abacode pitched its value proposition for a new category around managed cybersecurity and compliance management, urging clients to “outsource your whole program so we can act as your cybersecurity department.”
- Krista: Krista believes low-code platforms are only creating more tech debt. Enter Krista, which can accomplish an “elegant orchestration of people, software, and AI.” The startup offers an intelligent automation platform that claims to reduce complexity and wasted effort. During Krista’s pitch, the vendor likened its tech to a Star Trek command center, where humans interact with systems seamlessly—an aspirational goal, in HFS’ view.
- Newt Global (and Rackspace): This vendor took our message about the power of ecosystems seriously, pitching alongside its partner Rackspace. Newt Global has “power platforms” that can help with cloud data migration, prioritizing automation to get through the pain of migration faster, at a lower cost and with a significant risk reduction.
- Nividous: Nividous calls itself a “true end-to-end business process automation company.” It built an open, modular, single automation platform that lets clients bring in their existing automation technologies or use its proprietary capabilities, including RPA (robotic process automation) bots, smart bots, and command centers. The key advantage, the vendor pitched, is being pre-integrated, fast, and inexpensive to implement, allowing clients to build automation in a single environment.
- Singularity Systems (AYR.ai): Traditional IDP vendors need a lot of samples and don’t solve all your problems, claims Singularity Systems (AYR.ai). Its product needs fewer samples and less time, and it offers nearly 100% accuracy. In an unprecedented and clearly wise move, the vendor put forward a client on stage to attest to its product’s capabilities. The client shared, “I gave these guys complex invoices. In a week, the client had an intelligent AI (artificial intelligence) model with APIs and 95% accuracy. We had unstructured invoices, and they built a platform that didn’t need a team of data scientists or had to integrate with every automation tool in use now.”
- Working Solutions: This service provider pitched its onshore call center services capabilities, working with US and Canadian agents. We all know attracting talent is a huge challenge, but Working Solutions has been remotely finding and engaging massive talent. All its agents work remotely, including during training, and deliver quality results. Last month, Working Solutions boasted recruitment numbers of 23,000 candidates in the door, showing the power of its “incredible recruitment machine.”
- Worksoft: Worksoft is a test automation platform that pivoted to process intelligence and full-scale deployment (not just testing) on its platform. Its pitch described building a “platform to see, process, develop, plan, put in production, automation.” Using Worksoft’s software, working teams can deploy demonstrable dashboards of savings and continue the loop.
While each vendor brought compelling solutions to the stage, the “Hottest of the Hot Vendor” title was determined by a majority audience vote among the Summit’s attendees.
The Bottom Line: Singularity Systems (AYR.ai) promised “speed, accuracy, and scale” in its IDP product and presented a client to validate the experience. When it comes to emerging technologies, enterprise clients respond to clear demonstrations of business value.
HFS’ Hot Vendor program has been running for more than four years, publishing highlights of innovative emerging technology and services firms we believe should be on the radar of large enterprises. The Super Summit session’s voting results awarded Singularity Systems (AYR.ai) the Hottest of the Hot Vendors title; it demonstrated and articulated the business value of its technology in the most credible way.
Learn more about all our Hot Vendors at https://www.hfsresearch.com/hv/
