Veryfi | August 17, 2022
Veryfi, using artificial intelligence (AI) technology to instantly transform documents into structured data, today announced that the company has seen 750% year-over-year growth in the Veryfi OCR API Platform usage. This follows a successful Intelligent Automation Week event in Chicago, where Veryfi announced its momentum in powering the world’s leading finance, ERP (enterprise resource planning), and accounting software providers.
The growth of Veryfi’s OCR API Platform usage signals that companies are seeing better time-to-value with Intelligent Document Processing (IDP), rather than Robotic Process Automation (RPA) alone. Additionally, IDP solutions with pre-trained AI outperform home-grown solutions built using commodity OCR and AI tooling, in terms of accuracy and time-to-value. IDP delivers the most accurate data extraction technology, providing the fastest time to value and greatest efficiency. Over the past five years, Veryfi’s AI-Driven OCR API Platform with Day 1 Accuracy* was pre-trained on hundreds of millions of documents of all types, for 85 currencies, 39 languages, and 110 data fields.
“Our AI-driven IDP solution is the first to promise Day 1 Accuracy with no humans in the loop, and our customers’ growing trust in our platform is a clear sign that we’re living up to that promise. “We’re absolutely thrilled that our customers are joining us on our mission to eliminate manual data entry, and are seeing increased efficiency, revenue, and time to value, starting on Day 1, with our platform.”
Ernest Semerda, co-founder and CEO of Veryfi
RPA isn’t an out-of-the-box AI solution; as a standalone solution, it requires implementation and training that dramatically delays a business' time to value. When RPA is coupled with Veryfi IDP, however, customers benefit from pre-trained AI that delivers Day 1 Accuracy and perfectly complements the enhanced automation capabilities of RPA solutions. With Veryfi, enterprises can accelerate financial document processing by 200 times, with significantly fewer errors than humans can achieve, and companies can more effectively comply with the increasing number of international security and privacy regulations.
According to the Everest Group, “Many organizations are devoting more financial and human resources to deploy intelligent document processing capabilities. Success by forward-looking organizations is driving confidence in a market expected to grow 70-80% over the next two years to US $1.1 billion.”
By eliminating manual data entry, Veryfi enables organizations to accurately capture, extract and transform documents such as receipts, invoices, purchase orders, checks, credit cards, and W-9 forms into structured data, at scale. Veryfi uses advanced AI/ML technology, trained by hundreds of millions of documents over the past four years, to extract data and transform it into a structured format for 85 currencies, 39 languages, and 110 defined fields such as vendor, total, bill to/ship to, purchase order and invoice numbers, any line item (product name, SKU, description), taxes, and more, which can then be accessed for a wide variety of business applications.
Veryfi empowers organizations to capture, extract and transform unstructured documents including receipts, invoices, purchase orders, checks, credit cards, and W-2s into structured data at scale. The company’s technology reduces or eliminates manual data entry and unlocks valuable business intelligence in seconds. Trusted by enterprises and software companies alike, Veryfi’s AI-driven platform delivers fast, accurate, and secure data to hundreds of companies globally.
AI TECH,AI APPLICATIONS
UJET | August 19, 2022
UJET, Inc., the world’s most advanced cloud contact center provider, today announces advanced AI-guided customer service operations that leverage hundreds of thousands of customer insights to drive enhanced customer experience (CX) capabilities and automated virtual agent responses.
“Contact center demand is rising as labor shortages continue. As a result, wait times are longer than ever, service is suffering and customers are rightfully irritable. AI can and should take on a more prominent role to keep businesses running smoothly and customers happy. “Our latest AI technology holds immense potential to transform organizations and when designed correctly, can dramatically improve experiences, enhance efficiency, raise productivity, and drive growth.”
Vasili Triant, Chief Operating Officer at UJET
UJET’s AI-modeled Interaction Design for Virtual Agents helps companies identify the most common customer needs, informed by large-scale AI insights directly from customers, and then automates their resolution without consuming countless staff hours. Leveraging conversational AI and machine learning powered by Google’s CCAI Insights, UJET architects a contact center’s optimization roadmap to unlock the human and machine capabilities.
With topic and conversation analysis, companies can get a prioritized list of the virtual agents they need to make the biggest difference for CX. This improves key customer care metrics such as wait time, self-service rate, first-call resolution and much more. The data gathered has dozens, if not hundreds of actionable insights and capabilities, including:
Resolving recurring points of customer concerns, such as issues with payment methods, passwords, website/app rendering on different platforms and much more.
Proactively address rising trends in complaints or returns before they become a bigger problem.
Harnessing customer insights based on repeated requests for new product lines or enhancements to existing products/services.
Gathering competitive intelligence directly from end-users. Hear directly from customers on what they liked or didn’t like with a previously tried competitor.
"There's tremendous value in contact center data, and most current use cases leverage call data to automate answers to common questions. While a good start, UJET is using Google AI to go even further. This solution is using contact center data to optimize the entire CX flow by first identifying the best opportunities for automation,” says Dave Michels, principal analyst and founder of TalkingPointz Research. “With UJET, companies get massive-scale analysis of actual customer data, prioritized ideal use cases for virtual agents, and a detailed ROI and value analysis on those use cases. This use of conversational AI focuses more on overall CX rather than just automation.”
UJET offers a fundamentally different way of thinking so companies can make automation their competitive advantage and help customer experience shift from cost center to value creator.
UJET is reimagining the contact center for modern consumers and brands. Our one-of-a-kind architecture delivers an entirely new foundation for security, reliability, and scale across customer service operations. A full voice and digital engagement suite is complemented by powerful AI and advanced analytics capabilities, and easy-to-use, intuitive design to make life easier for everyone involved - from customers and agents to supervisors and executives - all while driving meaningful operational efficiencies. Smart device capabilities like channel blending, photo and video sharing, and biometric authentication are available to deploy for full CX transformation when you’re ready. Innovative brands like Instacart, Turo, Wag!, and Atom Tickets trust UJET to deliver exceptional CX, no matter their size or location. So can you.
Workato | August 12, 2022
Workato, a leading enterprise automation platform, has announced today that it has been accepted into the Amazon Web Services (AWS) Independent Software Vendor (ISV) Accelerate Program, a co-sell program for organizations that provide software solutions that run on or integrate with AWS. The program helps organizations drive new business and accelerate sales cycles by connecting the participating ISVs with the AWS Sales organization. Workato Enterprise Automation Platform is also now available in AWS Marketplace.
Through the AWS ISV Accelerate Program, Workato receives focused co-sell support and benefits to connect with AWS field sellers globally, who service millions of active AWS customers. Co-selling provides better customer outcomes and provides mutual commitment from AWS and AWS Partners.
AWS Marketplace is a curated digital catalog that customers can use to find, buy, deploy, and manage third-party software, data, and services to build solutions and run their businesses on AWS. Customers can find thousands of software, solutions, and services across a number of categories including security, machine learning, business applications, and more. They can quickly launch pre-configured software, and choose software solutions in Amazon Machine Images (AMIs), software as a service (SaaS), and other formats.
“We are beyond excited to join the AWS ISV Accelerate Program, further cementing our position within the enterprise automation space. To pair this with our debut in AWS Marketplace lends itself to our continued commitment to enabling companies to tap into the growth mindset and transform their organization with Workato. “This endeavor allows us to reach new AWS customers and help them reach their fullest potential.”
Markus Zirn, Senior Vice President, Strategy & Business Development at Workato
Workato is transforming automation across businesses with a single platform for data, apps, and processes and is emerging as a market leader in enterprise automation. Workato is a proven automation platform that allows organizations to build scalable quote-to-cash processes that increase accuracy and speed while reducing human intervention. Enterprises significantly improve their quote-to-cash approach while also providing a better purchasing experience to the end customer.
Workato solutions running on AWS allow companies to automate work throughout the entire organization — completely on the cloud. Building on the relationship with AWS, Workato is also helping joint customers solve complex business challenges, starting with Quote-to-Cash. The solution enables organizations to better integrate their tech stack to allow for seamless data transfer and bilateral sync and to automate repeatable processes at scale to further improve efficiency and accuracy.
The leader in enterprise automation, Workato helps organizations work faster and smarter without compromising security and governance. Built for Business and IT users, Workato is trusted by over 17,000 of the world's top brands, including Broadcom, Intuit, and Box. Headquartered in Mountain View, Calif., Workato is backed by Altimeter Capital, Battery Ventures, Insight Venture Partners, Tiger Global, and Redpoint Ventures.