IQ Bot accelerates intelligent automation to make it easier to process loan applications, insurance claims,
purchase orders and other common business tasks
Automation Anywhere, a global leader in Robotic Process Automation (RPA), today announced advances to Document Automation, the world’s only web-based, cloud-native RPA-integrated Intelligent Document Processing (IDP) solution.
The new version of Document Automation delivered both via the cloud and on-premises, expands AI-driven document processing capabilities seamlessly to almost any user and most businesses anywhere in the world.
With a large number of pre-packaged use cases available out-of-the-box, users can now easily automate business processes that involve documents such as invoices, purchase orders, loan applications, insurance claims, and many others across multiple industries. The new release also expands the user interface to support 10 languages and enables extraction from identification documents such as passports and industry-standard documents for insurance, health claims, and others.
“Organizations looking to transition to a digital enterprise require a solution that can intelligently process a large volume of documents involved in many business processes,” said Prince Kohli, Chief Technology Officer at Automation Anywhere. “IQ Bot’s latest release further simplifies the automation journey by empowering business users to easily harness AI and machine learning to rapidly automate document-centric processes by themselves.”
According to analyst firm Everest Group, IDP is one of the fastest-growing software categories and is projected to grow up to 80 percent annually over the next two years because of an increased requirement for organizations to process large volumes of unstructured data with greater accuracy and speed.
“IDP is one of the fastest growing software categories because it addresses a large unmet need that traditional document capture solutions were not addressing,” said Anil Vijayan, Vice President, Everest Group. “With enhanced ability to understand ID documents and industry-standard forms and the ability for developers to enhance extraction results using custom code, this new release from Automation Anywhere could greatly expand the type of business processes that can be automated end-to-end.”
Document Automation, which has been adopted by over 400 of some of the largest enterprises globally, democratizes IDP by empowering business users to automate any business process that involves documents, by themselves.
“We have had tremendous success using Automation Anywhere’s RPA and the new document automation to automate highly document-centric transactions,” said Juan Camilo Polania, CoE Manager at Bancolombia. “Leveraging IQ Bot on top of RPA has allowed us to automate a much broader set of processes. Today our automation program is helping us to realize $14 in value for every $1 spend.”
The new solution unlocks capabilities for enterprises of all sizes and offers:
- Expanding use cases: The new release adds support for identification documents, handwritten text in English, and data extraction from industry standard documents.
- Cloud-native for improved scalability: The RPA integrated platform offers customers end-to-end packaged solutions both in the cloud, via Automation Anywhere Enterprise A2019, and on-premises for use cases such as invoice processing and others.
- Infused with artificial intelligence (AI): IQ Bot leverages AI at each step of document processing and continuously learns from human feedback, simplifying automation of document processing.
- New developer capabilities: Ability to incorporate developer-written code such as Python scripts to improve extraction results for complex fields and tables, and to make them available via Automation Anywhere Bot Store.
Additional information on IQ Bot is available here.
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