Recognised for Successfully Delivering IDP Products and Impacting the Market
London, U.K., April 9, 2019 – Kofax®, a leading supplier of Intelligent Automation software to automate and digitally transform end-to-end business processes, was recognised as a Leader in Everest Group’s 2019 PEAK Matrix™ for Intelligent Document Processing (IDP) software products. PEAK Matrix assessments provide analysis and insights to enterprises to help them make critical selection decisions about services providers, locations and products/solutions in various market segments.
In the 2019 IDP PEAK Matrix, the Kofax Intelligent Automation platform and its Cognitive Document Automation solution were among the market leaders in both the ability to successfully deliver IDP products and overall impact created in the market.
“Kofax is a Leader in Everest Group’s PEAK Matrix™ for IDP software products in 2019. Based on its market adoption, portfolio mix, and value delivered to its clients, it has emerged as a strong leader on the axis evaluating market impact,” commented Anil Vijayan, Practice Director at Everest Group. “It offers a unified intelligent automation platform for enterprises with integrated BPM capabilities to orchestrate tasks before and after document processing. Enterprise-friendly features such as comprehensive software learning capabilities, confidence level customisation, and error messages for extracted fields that require manual review contribute to its success.”
“For enterprises, the majority of organisational data that needs to be managed comes in the form of unstructured information, such as documents and emails. Kofax Intelligent Automation platform technologies such as Kofax Robotic Process Automation (RPA) use built-in cognitive document automation to transform unstructured data into structured formats,” said Chris Huff, Chief Strategy Officer at Kofax. “The AI-based machine learning investments Kofax has made in our Intelligent Automation platform provides customers a competitive advantage and ability to scale automation programs to realise true enterprise value. Kofax is proud to have achieved the highest score for ‘portfolio mix’ among all 16 vendors evaluated, which speaks to the depth of our Intelligent Automation platform.”
Specifically, Kofax’s latest RPA release integrates cognitive document automation to enable organisations to:
· Increase productivity of document and data handling by processing more documents and electronic data faster, in a single unified interface.
· Improve data quality and reduce errors and exceptions in document-based and data-intensive business processes.
· Ensure compliance and an enhanced level of customer engagement.
Everest Group PEAK Matrix Criteria
Everest Group’s PEAK Matrix for IDP software products evaluates vendors on two overarching criteria: vision and capability, and market impact. For vision and capability, IDP providers are rated on vision and strategy, product capability, monitoring and improvement, implementation and support, and commercial model. Market impact entails the portfolio mix, market success (number of clients, revenue, year-over-year growth, etc.) and value delivered as gauged by customer feedback.