HFS Horizons: Intelligent Document Processing Products, 2023

The HFS Horizons: Intelligent Document Processing Products, 2023 report examines how intelligent document processing (IDP) technology vendors help clients embrace IDP products to drive process transformation. The study evaluates the capabilities of tech vendors across the HFS IDP products value chain.

Intelligent document processing is fast becoming a valuable accelerator in digital transformation initiatives. Traditional document processing applied basic optical character recognition (OCR) technologies for reading documents and capturing data. However, with the latest developments in artificial intelligence and machine learning, OCR alone is insufficient for the accuracy targeted by straight-through processing. IDP is no longer seen as just a smart way to extract data from documents; it is now expected to be an engine to unlock insights from masses of data.

We assessed and rated the intelligent document processing services of 26 IDP technology vendors across dimensions, addressing why, what, how, and so what.

This report includes detailed profiles of each technology vendor, outlining their HFS Horizons placement, provider facts, and strength and development opportunities across the three Horizons:

• Horizon 1: Vendors driving functional digital transformation by using IDP solutions
• Horizon 2: Vendors exhibiting the HFS OneOffice™ mindset and demonstrating enterprise-level outcomes
• Horizon 3: Vendors exhibiting HFS’ OneEcosystem™ approach, driving new business models, and generating new sources of value for enterprises

HFS Horizons: Intelligent Document Processing Products, 2023

Note: All technology vendors within a Horizon are listed alphabetically.
Source: HFS Research, 2023

To read the rest of the research, click the download button below.