MILPITAS, Calif.--(BUSINESS WIRE)--Jun 6, 2023--
ABBYY today released its Intelligent Document Processing (IDP) Global Trends & Outcomes Report highlighting document challenges and opportunities driving enterprise intelligent automation initiatives. The report provides innovation leaders with key insights into how businesses are optimizing document-centric processes to achieve operational excellence, improve the customer experience, and accelerate business value.
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Enterprises worldwide exhibited different document needs depending on their region. The ABBYY Global Intelligent Document Processing Trends & Outcomes Report highlights market factors, success stories, and forecasted growth surrounding these trends in IDP. (Graphic: Business Wire)
As the leader in IDP recognized by 10 independent analyst firms combined with three decades of experience digitally transforming billions of documents to provide actionable insights for more than 10,000 customers, the company’s internal data can be considered a marker for global trends.
"Enterprises continue to be driven by the ever-changing digital needs of their customers. At the heart of meeting customers’ expectations is making operational improvements that impact engagement and deliver measurable value,” commented Gabrielle Lukianchuk, Chief Marketing Officer at ABBYY. “Various global market factors noted in our report highlight the need for faster access to and a better understanding of customer-centric data to achieve more exceptional customer experiences. The goal of sharing our insights is to foster mutual learning and enable today’s organizations to reach their intelligent automation milestones faster.”
Analysis of three key regions reveals priorities to improve workforce agility, customer experience, and overall operational efficiency. According to ABBYY data, the key driver is the need to improve how they process the data and related documents. Most notable by region include:
North America
- Tax forms (IRS 1040)
- Financial documents (bank statements, invoices)
Europe
- Documents for international travel and commerce (customs declarations, identity documents, waybills)
APAC
- Forms related to international shipping (air and sea waybills)
- Identity documents
- Financial documents (bank statements, invoices)
Despite their varying priorities, all three regions are focused on streamlining accounts payable operations by improving and decreasing cost of invoice processing, as well as elevating the customer experience for both consumer and business customers through automated processing of identity-related documents, and documents used within transportation and logistics.
Enterprises in all regions also had similar priorities to augment their intelligent automation platforms with connectors for more advanced IDP capabilities that have better accuracy in reading, extracting, and classifying unstructured and semi-structured data. Connecting to high-end IDP solutions with their existing platforms enables organizations to cost effectively scale their technology investments. ABBYY data notes the most requested connectors are for the following platforms:
- Microsoft Power Automate
- UiPath
- Blue Prism
- Automation Anywhere
Based on initial data from January through March 2023, ABBYY anticipates continued growth of IDP adoption for use cases accelerating workforce agility, improving the customer experience, and streamlining supply chain and logistics business processes.
The data included in this report are from October through December 2022 and were generated from the ABBYY Marketplace, a vibrant hub for citizen developers and users to discover and contribute assets that augment ABBYY Vantage. Document Skills and Connectors are built to extract business-critical information from documents and integrate actionable data from ABBYY IDP solutions into third-party intelligent automation platforms such as robotic process automation (RPA), business process management (BPM), enterprise resource planning (ERP), and process mining and analytics platforms.
To learn more about ABBYY IDP adoption and personalization, download the full report and infographic at www.abbyy.com/resources/report/global-intelligent-document-processing-trends-outcomes-report/.
About ABBYY
ABBYY puts your information to work. We combine innovation and experience to transform data from business-critical documents into intelligent actionable outcomes in over 200 languages in real time. We enable more than 10,000 companies globally, including many of the Fortune 500, to drive significant impact where it matters most: customer experience, operational excellence, and competitive advantage. ABBYY is a global company with headquarters in Milpitas, CA and offices in 14 countries. For more information, visit www.abbyy.com/company and follow us on LinkedIn, Twitter and Facebook.
ABBYY can either be a registered trademark or a trademark and can also be a logo, a company name (or part of it), or part of a product name of ABBYY Development, Inc. and/or its affiliatesand may not be used without consent of its respective owners.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230606005465/en/
CONTACT: ABBYY Editorial Contact:
Gina Ray, APR
Director of Global Public Relations
949-370-0941
gina.ray@abbyy.com
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SOFTWARE ACCOUNTING PROFESSIONAL SERVICES FINTECH DATA MANAGEMENT TECHNOLOGY ARTIFICIAL INTELLIGENCE DATA ANALYTICS OTHER PROFESSIONAL SERVICES TRANSPORT FINANCE LOGISTICS/SUPPLY CHAIN MANAGEMENT
SOURCE: ABBYY
Copyright Business Wire 2023.
PUB: 06/06/2023 07:00 AM/DISC: 06/06/2023 07:01 AM
http://www.businesswire.com/news/home/20230606005465/en
