MIDDLETON, Mass., Jan. 19, 2021 /PRNewswire/ -- ABBYY, a leading digital intelligence company, has been ranked by global advisory and consulting firm Quadrant Knowledge Solutions as the Technology Leader in its report titled SPARK Matrix™: Intelligent Document Processing Platform (IDP), 2020
Quadrant Knowledge Solutions SPARK Matrix evaluation examined ABBYY and 15 other vendors by evaluating the company's product portfolios, technology strategies, market presence, and customer value proposition. Quadrant Knowledge Solutions' SPARK Matrix provides a snapshot of the key market participants and a visual representation of their positioning. It also provides strategic insights on the ranking of participating vendors in relation to their competitors along several axis, representing a range of performance parameters, coinciding with technology excellence and customer impact.
Intelligent Document Platform (IDP) is an emerging software segment consisting of a suite of tools and technologies such as computer vision, intelligent optical character recognition (iOCR), deep learning, and natural language processing (NLP) for capturing, classifying, and extracting data. An IDP platform enables organizations to streamline document processing workflows within organizations. IDP solutions help organizations automate business processes and improve overall operational efficiency and productivity. The platform serves as an intelligent and advanced document processing solution for complex data formats, as it can deliver higher document processing accuracy for complex data formats. While IDP vendors are already focusing on offering IDP solutions that can achieve higher accuracy and STP, AI technologies will continue to drive the IDP space by delivering innovative IDP solutions to support industry-wide use cases.
According to the research findings, ABBYY with its robust technology platform, comprehensive functional capabilities, competition differentiation strategy, and compelling product strategy and roadmap has received strong overall ratings across the performance parameters of technology excellence and customer impact. With highest overall ratings, ABBYY is positioned as the clear technology leader in the 2020 SPARK Matrix of the intelligent document processing market.
"ABBYY solutions, powered by advanced data recognition and NLP, intelligent OCR, machine learning, and AI-based classifier for multi-level document classification, separation, and validation are well positioned to help organizations reduce complexity and maintenance costs in processing semi-structured and unstructured data with high accuracy and scalability," says Shruti Jadhav, Industry Manager at Quadrant Knowledge Solutions. "ABBYY solutions are widely recognized for delivering enterprise-grade scalability, strong partnership ecosystem, multiple language support, and support for a broad range of industry-specific use cases," adds Shruti.
"Receiving the highest overall ratings for our intelligent document processing capabilities is a testament to our continuous innovation leveraging machine learning, natural language processing, OCR and computer vision to meet specific needs of our customers," commented Bruce Orcutt, Senior Vice President of Product Marketing at ABBYY. "Our goal is always to take the most challenging problems organizations' have with content and processing and make it easy for them to deploy, use and extend into other parts of their business. It is an honor to be recognized as a Leader by Quadrant."
For more information on ABBYY Content Intelligence: https://www.abbyy.com/solutions/content-intelligence/
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 is recognized for its 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 13 countries. For more information, visit www.abbyy.com/company.
About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client's business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments. For more available research, please visit https://quadrant-solutions.com/market-research/
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SOURCE Quadrant Knowledge Solutions