Kofax®, a leading supplier of Intelligent Automation software for digital workflow transformation, today announces it has been identified as a Leader, scoring exceedingly high in Vision & Capability in Everest Group’s Intelligent Document Processing (IDP) Products PEAK Matrix® Assessment 2021, while receiving high scores for Document Processing Capability, Monitoring and Improvement, and Implementation and Support. Everest Group assesses vendors across two axes: Market Impact and Vision & Capability. This is the third year in a row Kofax has been named a Leader in Everest Group’s IDP PEAK Matrix Assessment, further validating the company’s status as the top innovator in the market.
“Positioning as a PEAK Matrix leader for a third year in a row illustrates Kofax’s ability to meet evolving customer demands through continuous innovation, enhancing user experience through low-code investments and recruiting top talent across our organisation to maintain a high performing culture,” says Chris Huff, Chief Strategy Officer at Kofax. “We’ll continue working diligently to deliver high-quality, scalable solutions so customers and partners are able to drive transformational value and impact.”
Everest Group lauded Kofax TotalAgility®, a key component of the Kofax Intelligent Automation platform, for its pre-built, out-of-the-box solutions for invoice and claims processing, and recognising its deployment across horizontal processes including human resources, finance and accounting, procurement and contact centers. The report also called out Kofax’s success in serving clients across verticals such as banking, financial services, insurance, healthcare and pharmaceuticals. Finally, the report recognizes Kofax’s performance in Customer Experience (CX) with a high score in Implementation and Support, as well as highlighting positive feedback about its customer support, responsiveness, and how well customer feedback is incorporated into product roadmaps.
“Kofax has retained its position as a Leader on Everest Group’s PEAK Matrix® for IDP software products in 2021. Its TotalAgility platform combines IDP with process orchestration, analytics, and RPA capabilities to help enterprises achieve broader automation,” says Anil Vijayan, Partner, Everest Group. “Its distinctive mobile extraction capabilities, enterprise-grade security features, strong interoperability with enterprise systems, and wide network of implementation partners are differentiators that have contributed to its success.”
Everest Group defines Intelligent Document Processing (IDP) as any software product or solution that captures data from documents (e.g., email, text, PDF, and scanned documents), categorises, and extracts relevant data for further processing using AI technologies such as computer vision, OCR, natural language processing (NLP), and machine/deep learning. These solutions are typically non-invasive and can be integrated with internal applications, systems and other automation platforms. Adoption of IDP solutions can help enterprises achieve cost savings, improve their workforce productivity and enrich the employee and customer experience.