Boston, London, Bangalore, 9 Nov 2023
AntWorks, the market leader in Generative AI-based Intelligent Document Processing has been named a Major Player in IDC MarketScape: Worldwide Intelligent Document Processing Software 2023-2024 Vendor Assessment (doc #US49988723, November 2023).
IDC, a renowned market research firm, released its first comprehensive evaluation of 29 IDP vendors, highlighting AntWorks’ significance in the evolving landscape. The timing of this report aligns with a surge in buyer interest, reflecting the growing importance of IDP solutions in the market.
The report emphasizes AntWorks’ strengths in:
- Solution Scalability: Ability to handle long-form complex and unstructured documents.
- Reusable Solution Components/Models: Accelerating accessibility, particularly in the insurance sector.
- Citizen Development Focus: Building stickiness and expanding use cases.
- Pega Partnership: A strategic alliance enhancing workflow orchestration capabilities with IDP
IDC analysts Matt Arcaro and Amy Machado, primary authors of the report, mention, “AntWorks’ CMR+ platform, lauded for its curated features, integrated platform, and end-to-end IDP workflow capabilities, is positioned as a vendor of consideration for organizations seeking to experiment, learn, or expand IDP use enterprise-wide. The success within the financial services vertical positions AntWorks to extend its impact across diverse verticals and use case domains.”
Mike Hobday, CEO of AntWorks, said, “We are honored by IDC’s recognition as a Major Player in IDP Marketscape. This validates our commitment to delivering scalable, innovative solutions. AntWorks will leverage this acknowledgment to further enhance our offerings and solidify our position as a leader in the IDP space.”
About IDC MarketScape: IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
AntWorks™ is the global leader in Intelligent Document Processing. We use proprietary Generative-AI technology to unlock, classify and digitise vital data in the full range of business documents. Our product, CMR+, understands and contextualizes information with unrivalled accuracy and minimal intervention. Designed for flexibility and ease of use, it processes hard-to-read, complex, ‘unstructured’ content, emails, contracts, reports, tables, images and handwriting.
Founded in 2015, AntWorks has market presence in US and UK with a team of 100+ specialists. The company is rated highly by industry analysts and has Fortune 500 clients primarily in insurance and banking.