Singularity Systems Named a Star Performer in Everest Group's Intelligent Document Processing (IDP) Peak Matrix® Assessment 2022

Also recognized as a Major Contender for 2^nd Consecutive Year

PRINCETON, N.J., May 17, 2022 /PRNewswire/ -- Singularity Systems, a leader in intelligent document processing (IDP), today announces it has been recognized as a Star Performer in the IDP market, one of only four vendors from a total field of 36, to achieve this distinction in Everest Group's annual report.  This is the second year in a row that the company has also been recognized as a Major Contender, receiving the highest score possible for Value Delivered.

"Enterprise organizations on their journeys to embrace Intelligent Automation face significant obstacles dealing with unstructured and semi-structured data," says Scott Lee, Chief Revenue Officer at Singularity Systems. "The vast majority of data is still trapped in these forms, with the volume only growing over time; this 'last mile' of truly implementing Intelligent Automation is one of the hardest to tackle."

"We are proud to repeat as a Top Contender in the annual report, and our Star Performer recognition illustrates the success of Singularity Systems in meeting the demanding IDP needs of a large variety of enterprise organizations, including those in Financial Services, Banking, Insurance, Manufacturing, Energy and Healthcare."

Leaders of automation programs eager to find an IDP solution seek three critical capabilities delivered by the company's platform, SinguAI:

• Accuracy - Our platform has an unsurpassed ability to achieve accuracy levels other vendors struggle to attain, frequently needing only a small number of sample documents to produce effective models.
• Speed - The fastest labeling in the industry allows business-level experts to quickly build trained models, and our unique Intelligent Data Simulator feature can generate large volumes of legitimate samples to use in training, greatly increasing speed to production.
• Agility – AI Pathfinder, a major advancement in IDP technology, enables clients to process even the most complex documents.  This capability intelligently combines NLP, computer vision, machine learning, and our propriety OCR technologies to produce a single model with awareness of both 'shape and form' context and meaning context of the unstructured data.

"Singularity Systems' SinguAI platform is capable of processing structured, semi-structured, and unstructured documents and complex data types including borderless tables, grouped fields, and low-quality images," said Ashwin Gopakumar, Practice Director, Everest Group. "Its investments in distinctive capabilities, such as its Intelligent Data Simulator, AI Pathfinder, and transfer learning, combined with its rapid growth in the market have helped Singularity Systems emerge as a Star Performer and Major Contender on Everest Group's Intelligent Document Processing (IDP) PEAK Matrix^® Assessment 2022."

Click here to obtain a complimentary copy of the report courtesy of Singularity Systems.

Everest Group defines Intelligent Document Processing (IDP) as any software product or solution that captures data from documents (e.g., email, text, PDF, and scanned documents), categorizes, and extracts relevant data for further processing using AI technologies such as computer vision, OCR, natural language processing (NLP), and machine/deep learning. These solutions are typically non-invasive and can be integrated with internal applications, systems and other automation platforms. Adoption of IDP solutions can help enterprises achieve cost savings, improve their workforce productivity and enrich the employee and customer experience.

About Singularity Systems

With its world-class team of scientists and developers, Singularity Systems has pioneered new AI techniques that have modernized and democratized intelligent document processing. The company provides SinguAI^®, an Artificial Intelligence platform enabling enterprises to transform their raw data into actionable insight. Enterprise leaders use SinguAI 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, NJ's Einstein's Alley.

SOURCE Singularity Systems Inc.