Singularity Systems Designated as a Hot Vendor for Intelligent Document Processing (IDP) by Analyst Firm HFS

PRINCETON, N.J., July 25, 2022 /PRNewswire/ -- Singularity Systems, a leader in intelligent document processing (IDP) delivered via their SingularityAI^® platform, today announced the company was selected as a Hot Vendor by HFS, a unique analyst firm respected for their no-nonsense insights. In the report, HFS OneOffice™ Hot Vendors: Q2 2022, the firm profiles an exclusive group of emerging players, each with a differentiated value proposition, with Singularity Systems one of only five companies making the prestigious list.

HFS Hot Vendors are service and technology providers hand-picked by the firm's analysts to help enterprise organizations expand their ecosystems with offerings that solve today's complex business problems and exploit market opportunities. HFS Hot Vendors display truly differentiated offerings and out of the box thinking that can be both inspiring and useful.

Vendors are determined based on their offerings' distinctiveness, ecosystem robustness, client impact, financial position, and impact. As profiled in the HFS OneOffice and OneEcosystem frameworks, these vendors have the vision and strategy to impact and disrupt the market.

"Recognition as a Hot Vendor by HFS is a testament that our advanced machine learning IDP solution is at the top tier among competitors," says Dr. Tianhao Wu, CTO and co-founder of Singularity Systems. "Not only because we achieve the fastest completion of use cases with the highest accuracy while needing less training data, but more importantly, SingularityAI offers enterprises a generally scalable solution with sustained ease of use as requirements expand. The simplest (and most effective) solution for customers is actually the hardest to build – we have done this and will continue to advance our capabilities as customer needs evolve."

"SingularityAI has made smart strategic choices in creating its IDP product that led us to name it an HFS Hot Vendor," says Reetika Fleming, Research Leader, HFS Research, "Its ability to work with small data samples upfront and process and adapt to new data streams is geared well to complex enterprise business processes. Blending multiple IDP approaches, creating a user-friendly interface, and prioritizing integration with major platforms further sets up SingularityAI's clients for success with their digitization efforts."

HFS is a unique analyst organization that combines deep visionary expertise with rapid demand side analysis of the Global 2000. Its outlook for the future is admired across the global technology and business operations industries. Its analysts are respected for their no-nonsense insights based on demand side data and engagements with industry practitioners.

HFS Research introduced the world to terms such as "RPA" (Robotic Process Automation) in 2012 and more recently, the HFS OneOffice™. The HFS mission is to provide visionary insight into the major innovations impacting business operations such as Automation, Artificial Intelligence, Blockchain, Internet of Things, Digital Business Models and Smart Analytics.

With its world-class team of scientists and developers, Singularity Systems has pioneered new AI techniques that have modernized and democratized Intelligent Document Processing (IDP). The company provides SingularityAI, an Artificial Intelligence platform enabling enterprises to transform their raw data into actionable insight.

Enterprise leaders use SingularityAI to efficiently convert high-volume unstructured content into machine-readable data, enabling real-time decision-making and powering improvements in customer experience and operational agility. Serving a global customer network of top-tier organizations in banking, insurance, healthcare, energy, and other data-intensive industries, Singularity Systems is headquartered in Princeton, New Jersey's Einstein's Alley.

SOURCE Singularity Systems Inc.