As agentic AI-based systems that automate business processes proliferate, intelligent document processing (IDP) is taking on an increasingly prominent role. Enterprise AI agents frequently need to extract and interpret information contained in contracts, invoices, claims and other unstructured documents before taking actions within formerly manual processes. As a result, interest in the technology continues to grow.
After last year’s inaugural Magic Quadrant vendor assessment for IDP providers, Gartner returns for year two with the same Leaderboard as last year. The Stamford, Conn.-based firm has named ABBYY, Hyperscience, Infrrd, Tungsten Automation and UiPath as “leaders” in this year’s Magic Quadrant for IDP solutions.
Gartner notes that the market for IDP solutions is fairly large and growing, encompassing more than 100 vendors, though it only evaluated 15. The report also acknowledges that the introduction of AI has catalyzed a significant leap in the capabilities of IDP tools.
“IDP solutions build on—and continue to include—long-standing optical character recognition (OCR) capabilities to extract characters from images,” the report’s authors wrote. “Instead of using fixed, rigid templates to map characters to data schemas, their AI also utilizes contextual cues to autonomously map characters from multiple formats and varying layouts of content to data schemas. Consequently, IDP solutions have the potential to process a broad range of document types and variations.”
The assessment evaluated capabilities and features from the different providers that include how documents are ingested and classified, what kind of data can be extracted, reviewed and integrated into third-party applications, and how that feeds into automated workflows.
In addition to the leaders, Gartner also evaluated Appian, Automation Anywhere, Coupa (formerly Rossum), EdgeVerve, Hyland, Hypatos, Iron Mountain, Laiye, Nanonets and OpenText.
