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Infrrd Cited in Two Recent Gartner Hype Cycle Reports

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  400 U.S.-based Companies Processing More than One Million Invoices Annually Cite Dramatic Increase in IDP Adoption for Accounts Payable FunctionCompany Recognized as Sample Vendor for Intelligent Document Processing SAN JOSE, Calif. … August 23, 2022 …  Infrrd , a leading provider of Intelligent Document Processing (IDP) solutions, announced today it was named a Sample Vendor for IDP in two recent  Gartner  Hype Cycle reports. Both reports cite the role of IDP in business process improvement. The first report,  Hype Cycle for Natural Language Technologies, 2022 , published on July 11, 2022, discusses how advances in artificial intelligence and (AI) and machine learning (ML) are driving innovation and fostering advances in natural language technologies (NLT)and designates where these new opportunities and methods can prove most beneficial. The report states that, “ IDP uses natural language technologies and computer vision to extract data from structured and un...
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Can you achieve 100% AI automation?

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Intelligent Automation Infrrd client wanted to implement a 100%   automated insurance   claim process. Such a process would give them a competitive advantage over other providers. After collaborating on the 100% question, we found the most critical bottleneck in need of a fix was  accurately extracting data  trapped in various  unstructured documents   and images. Infrrd could help them  automate data extraction   with a high degree of accuracy, the claim process could run using  straight-through processing  — with minimal human involvement. We removed the  data extraction  bottleneck for them…Today, they operate right on the cusp of 100%.  <READ MORE >
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How to Use Repeatability to Gain 120% Data Processing Efficiency

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  This past month, the Infrrd team collaborated with our client, a large financial institution that has a team of about 100 people extracting data from documents manually. This customer processes a huge variety of documents from numerous sources that do not have any fixed format. Every document from every provider comes with its own unique layout and vocabulary of information. These documents arrive at the firm’s mail room where they are combined into packets of hundreds of documents then get handed off to the data processing team. In all, the customer has millions of combinations of layouts from which the team extracts data. Read the complete article
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