November 9, 2023

OpenText named a leader in the 2023-2024 IDC MarketScape for Intelligent Document Processing

Recognized for strengths in aligning the right tool for the job, continuous model learning approach and product and capability support

As the volume and types of content grow, the need for automated workflows has never been greater. Moreover, operational efficiency and cost containment remain top priorities, especially in challenging economic times. Despite this, employees spend their time on the tedious manual tasks required by content-intensive workflows. Organizations need ways to remove digital friction from work by leveraging AI and process automation to achieve operational excellence and improve employee experiences.

To extract actionable information from paper and digital content, and seamlessly integrate it into downstream processes, organizations need intelligent information capture, AI and process automation capabilities like the ones available in OpenText™ Capture and Intelligent Document Processing (IDP) solutions.

OpenText named a Leader in Intelligent Document Processing

We are pleased to announce that OpenText has been named a Leader in the  IDC MarketScape: Worldwide Intelligent Document Processing (IDP) Software 2023-2024 Vendor Assessment (doc #US49988723, November 2023). We believe this recognition reflects OpenText’s commitment to offer intelligent document processing solutions that transform content into actionable data—speeding business application workflows for better operational efficiency and less risk

Download the report excerpt to learn more.

The IDC MarketScape vendor analysis model is designed to provide an overview of IDP suppliers worldwide. 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. The Capabilities score measures customer and user satisfaction, functionality and offering, portfolio benefits, customer service delivery and use case diversity and targeting. The Strategy score measures the alignment of vendor strategies with delivery and customer satisfaction, functionality and offering strategy, financials and funding and R&D. Vendor market share is represented by the size of the icons.

Why are IDP solutions on the rise?

“It is an exciting time for companies looking to convert their business-critical unstructured documents into structured, centralized data resources whose insights are tied directly into downstream systems and processes/workflows,” said Amy Machado, research manager of IDC’s Enterprise Content and Knowledge Strategies research program. “With the breadth of offerings and leaps made in the last year with GenAI, buyers have many options to fulfill their IDP needs, and this study will help them find the right partner.”

According to the IDC MarketScape report, “Organizations are increasingly looking to IDP to deliver tangible improvements in efficiencies, cost savings, customer satisfaction, employee prioritization, and competitive differentiation.”

The report noted that organizations should consider OpenText because its “portfolio seeks to enable frictionless automation experiences for customers across information capture, AI and machine learning-based document understanding, and greater process automation. Further, OpenText’s demonstrated success deploying IDP across a wide range of customer use cases, organization sizes, industry verticals, and geographic footprints makes it a vendor of consideration for any organization looking to experiment, learn, or expand its use of IDP more broadly.”

Download a complimentary report excerpt of the IDC MarketScape for insights on how IDP can be leveraged to:

• Resolve the process and resource roadblocks of labor-intensive analog practices
• Convert business-critical unstructured documents into structured, centralized data resources to uncover insights needed by downstream systems and processes/workflows
• Deliver high levels of accuracy and precision required for scalable and effective automation

Download the report excerpt

Intelligent document processing solutions from OpenText

OpenText™ intelligent document processing solutions seamlessly integrate information capture, AI and machine learning, and process automation to extract actionable data and accelerate downstream workflows in line-of-business applications and process automation tools. Learn more about OpenText IDP solutions.