MUMBAI, India--(BUSINESS WIRE)--#AI--Datamatics, a global Digital Solutions, Technology and BPM Company, today announced that it has been recognized as a �Major Contender� and �Star Performer� in Everest Group�s PEAK Matrix for Intelligent Document Processing for its product TruCap+. The report is authored by Anil Vijayan, Ashwin Gopakumar, Samikshya Meher, Shiven Mittal, Utkarsh Shahdeo. The report assess 27 leading technology vendors in terms of their IDP product�s vision & capability and market impact and categorize them into Leaders, Major Contenders, Aspirants, and Star Performers.

Datamatics has been recognized for TruCap+ for the third consecutive year. TruCap+ is an AI-enabled Intelligent Document Processing (IDP) product that allows enterprises to realize faster time-to-value and achieve greater Straight-Through Processing (STP) with accuracy.

Key findings about TruCap+ in the Everest report:

• TruCap+ is a component of Datamatics� Intelligent Automation platform that combines its RPA platform TruBot, IDP solution TruCap+, and AI platform TruAI to deliver an overarching automation solution
• It has an in-build OCR and also well integrates with third-party OCR engines including Google, AWS and Microsoft Azure cloud engines
• TruCap+ has shown strong Y-o-Y growth in 2020, at higher-than-average market rate
• The platform can identify and extract various data types such as tables, free-flowing text, handwritten text, barcodes, logos, stamps and signatures
• It provides flexible deployment options such as on-premise, and on cloud
• Clients are overall satisfied with the product and have appreciated the technical expertise of the vendor, the ability to understand business processes, and a partnership approach
• Improvement in the overall client satisfaction score
• TruCap+ has experienced significant client growth, increasing its share of clients in Continental Europe

�Datamatics is a Star Performer and Major Contender on Everest Group�s PEAK Matrix� for IDP software products in 2021. It has significantly enhanced the capabilities of its TruCap+ platform and achieved strong growth in the IDP market,� said Anil Vijayan, Vice President, Everest Group. �Its enhanced user interface, robust reporting and analytics capabilities, strong customer support and training offerings, and integrated RPA and AI capabilities position it well for further success.�

�Datamatics recognition as a �Star Performer� indicates our significant investments steady growth in the IDP space. Last year, we launched a new version of TruCap+ which is template-free, cloud based and with pre-built AI/ML capabilities enabling business users to quickly achieve document automation,� said Mitul Mehta, SVP & Head, Marketing & Communications, Datamatics. "We are proud to be named as Star Performer and Major Contender on Everest Group�s PEAK Matrix� for IDP software products in 2021.�

To know more about TruCap+, visit https://trubot.datamatics.com/platform/trucap-datacapture-ocr

Everest Group is a consulting and research firm focused on strategic IT, business services and engineering services. Everest Group's PEAK Matrix� assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products & solutions within various market segments.

Download a custom version of the report: https://www.datamatics.com/resources/analyst-reports/everest-group-peak-matrix-for-idp-technology-vendors-2021

About Datamatics

Datamatics (BSE: 532528 | NSE: DATAMATICS) provides intelligent solutions for data-driven businesses to increase productivity and enhance the customer experience. Datamatics portfolio spans across ITS, BPM, Engineering Services and Big Data & Analytics all powered by AI. It has established products in RPA, IDP, BI and AFC. Datamatics has presence across 4 continents with major delivery centers in the USA, India, and Philippines.

To know more about Datamatics, visit www.datamatics.com and on LinkedIn, Twitter, YouTube, and Facebook.

Contacts

Sudeshna Mukherjee
Manager � Marketing & Corporate Communications

[email protected]
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