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AmyGB Featured as A Progressive Company in The Intelligent Document Processing Market


We are getting noticed! AmyGB.ai was named a Progressive Leader in the Intelligent Document Processing segment for its excellent business strategy and product innovations with a strong service portfolio.

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The global Intelligent Document Processing (IDP) market is one of the most quickly growing AI segments (if not the quickest). According to a recent report published by Markets & Markets, one of the largest market research companies, the IDP market is poised to grow at a CAGR of 36.5% to reach USD 3,741 million by 2026. The pandemic has acted as an external stimulus, disrupting the traditional ways in which businesses were run and creating a need for organizations to invest in new digital technologies like IDP.

According to the report, many organizations have increased their digital spending in document processing and are partnering with leading IDP vendors to digitize the processing of large volumes of documents (structured as well as unstructured) with higher speed and greater accuracy. Markets and Markets researched about 26 leading IDP companies in the world and identified AmyGB as one of the progressive companies in the segment, ranking high in Business Strategy Excellence as well as strength of Product Portfolio. This recognition by Markets and Markets further strengthens AmyGB’s claim of being one of the leading IDP companies in the world.

What pins AmyGB to the famous Magic Quadrant?


Intelligent Document Processing is one of the fast-growing AI segments, with the APAC region being the highest potential growth for the next 5 years. Markets and Markets conducted primary and secondary research to estimate the market potential and key drivers in the segment. According to the report, in the post-pandemic era, the organizations have realized the need to do away with manual document processing and invest in IDP solutions as a part of their long-term strategy. Markets and Markets researched about 26 leading IDP companies in the world, including AmyGB, and ranked them based on Business Strategy Excellence and strength of Product Portfolio as shown in fig 1.

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AmyGB ranked high in both the parameters and featured as a PROGRESSIVE COMPANY that offers a strong services portfolio in the IDP market with which, we are making our presence felt by offering customized services as per user requirements.

What is the significance of Product Portfolio Strength to Businesses?

Markets and Markets ranked AmyGB high on Product Portfolio strength and Business Strategy Excellence. This ranking is based on competitive superiority and capability in processing a variety of documents from structured to unstructured, printed & handwritten.

Document processing needs for every organization can be different depending on the business. Some organizations deal with structured documents like KYC documents, which have limited formats/variations, while some organizations process lots of unstructured documents like PO, invoices, salary slips, medical documents, etc.

AmyGB’s Intelligent Document Processing tool, VisionERA is capable of processing a variety of documents successfully, delivering higher accuracy and greater speed. AmyGB has not only proven itself in processing printed documents, but it is also one of the trusted partners to process handwritten documents.

Read how we automated the entire onboarding process for one of the largest depositories in India

The reports also dissected different components in the document processing chain, like document extraction, RPA, API integrations, etc. AmyGB was mentioned as one of the key players enabling end-to-end process automation, empowering organizations with complete digital transformation. The report mentioned AmyGB’s success story with one of the leading payment banks in India, where AmyGB automated the entire fast tag application and approval process, making it seamless and efficient. The brief of the use case is as below:

Fig.1 Use case about fast tag automation with leading payment bank

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Markets and Markets research showed that AmyGB is progressing at a very fast pace because of the excellent business strategy involving horizontal and vertical market penetration.

According to the report, India’s IDP market is poised to grow at 42.2% CAGR, making it the fastest-growing market in the world. And, in the past year, AmyGB has been a dominant player in India with more than 15 implementations across domains like BFSI, Healthcare, Logistics, E-commerce, etc. AmyGB has penetrated almost all verticals in the Indian market and has been really successful in its horizontal approach, i.e. solving a variety of use cases. AmyGB has automated the use cases varying from simple KYC/customer onboarding automation to complex cases like ICD code mapping from discharge summaries, maker-checker function automation in the Cash Management process.

Why is this Relevant to Businesses?

It is imperative in contemporary times to invest in digital transformation to stay ahead of the curve as a business. Choosing the right partner for your document processing requirement is critical and this report acts as a guide to narrow your options for potential partners. AmyGB has been a trusted partner for organizations across industries like BFSI, Healthcare, E-commerce, TTL, etc. to automate their document processing.

About AmyGB

AmyGB is an Artificial Intelligence and Deep Tech company focused on Intelligent Automation in document processing and customer support. AmyGB’s VisionERA is an Intelligent Document Processing solution that is capable of processing structured as well as unstructured data with high accuracy. MailERA is an advanced Email Automation solution, which uses Deep Learning and NLP to automate response management. Assisted closure is our patent AI-enabled chatbot, which uses pattern recognition to process multiple intents to serve as an intelligent self-service assistant for effective ticket management.

If you would like to know more about Intelligent Document Processing, please read Intelligent Document Processing- what it is and what it offers businesses. We would love to know more about your process and see if we can help you to make it more efficient and faster. To know more about AmyGB and the amazing work we are doing please visit www.amygb.ai
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company news
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Markets & Markets survey
Intelligent Document Processing
visionERA
Artificial Intelligence
IDP Market
APAC
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