MIDDLETON, Mass., Feb. 3, 2021
MIDDLETON, Mass., Feb. 3, 2021 /PRNewswire/ -- Datamatics, a global IT, Consulting, BPM and Data Management Company, has been ranked by global advisory and consulting firm Quadrant Knowledge Solutions amongst the Technology Leader in its report titled SPARK Matrix™: Intelligent Document Processing Platform (IDP), 2020.
Quadrant Knowledge Solutions SPARK Matrix evaluation examined Datamatics 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.
Datamatics offers innovative IDP platform, TruCap+ that help data-driven businesses to digitally transform themselves through robotic process automation, artificial intelligence, cloud, mobility, and advanced analytics. The integrated AI in TruCap+ scans unstructured data and also reads, deciphers, and captures relevant information fields such as invoice numbers and dates and converts it into structured data. The platform facilitates context-specific and intelligent data capture from various sources without creating any templates. TruCap+ facilitates high character accuracy, reduces errors, and improves straight through passes (STP) in document automation. It can process data from multiple sources like hard copies and digital data channels including, images, scanned documents, emails, and social media posts.
"Datamatics with its proprietary ICR and AI/ML powered IDP product, TruCap+, offers robust capabilities for data extraction, multi-channel data processing, automated document classification, data validation, and auto learning" according to Pranjal Singh, Analyst at Quadrant Knowledge Solutions. "TrupCap+ template-free approach, pre-extraction & post-extraction functionalities, unique image topography analytics algorithm, scalable and flexible solution offering, and seamless integration with majority of the RPA platforms and third -party business applications help organizations to achieve higher accuracy for semi-structured and unstructured Data. Moreover, TruCap+'s image enhancement and data quality improvement capabilities deliver greater accuracy with minimal human intervention" Pranjal further adds.
Mitul Mehta, SVP & Head, Marketing & Communications at Datamatics, said, "Over 2.5 quintillion bytes of data are generated every day, in such a world of data deluge, managing it becomes a huge challenge. Organizations are facing tremendous pressure in managing, processing and automating such unstructured data. Datamatics TruCap+ is meant to address such challenges of enterprises and help them to step-up their intelligent automation. It is template free, cloud-based, and processes huge data volumes with speed and accuracy. The product integrates seamlessly with RPA platforms and BPM solutions to deliver comprehensive experience. We are happy to be positioned amongst the Leaders in SPARK Matrix: Intelligent Document Processing (IDP), 2020 by Quadrant Knowledge Solutions."
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/
Datamatics (BSE: 532528 | NSE: DATAMATICS) provides intelligent solutions for data-driven businesses to increase productivity and enhance the customer experience. With a complete digital approach, Datamatics portfolio spans across Information Technology Services, Business Process Management, Engineering Services and Big Data & Analytics all powered by Artificial Intelligence. It has established products in Robotic Process Automation, Intelligent Document Processing, Business Intelligence and Automated Fare Collection. Datamatics services global customers across Banking, Financial Services, Insurance, Healthcare, Manufacturing, International Organizations, and Media & Publishing. The Company has presence across 4 continents with major delivery centers in the USA, India, and Philippines.
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