Ephesoft a leader in intelligent document processing automation and data enrichment solutions, and Speridian Technologies, a global information technology consulting and services company, announced their global alliance partnership. This strategic alignment will help mutual clients across many industries to automate document-centric processes and significantly increase operational efficiency while improving data accuracy. Together, Speridian Technologies and Ephesoft will not only help customers realize their digital transformation goals but set them up for a successful path toward hyperautomation.
“The expansion of Speridian’s technology stack with an established, innovative intelligent document processing vendor is crucial to our growth and ability to implement end-to-end automation solutions for document-centric processes for our customers,” said Sourav Roy, Vice President of Digital Solutions of Speridian Technologies. “Ephesoft’s market expertise coupled with significant successes in the banking, mortgage and insurance industries line up perfectly with our target client demographic, making this a highly impactful association.”
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The partnership will focus on bringing digital solutions to customers globally, especially for clients in the financial services sectors. In the insurance industry, Ephesoft has a proven track record for use cases such as claims, contracts, payments, customer onboarding, customer experience and invoice processing. Insurance customers have reported an 89% faster document processing time, a 50% reduction in labor cost to prepare claims-related documents and the capacity to process seven times the amount of claims with the same employee headcount.
Similar metrics of success have been reported for mortgage industry customers who report a 7X productivity increase, 95% accuracy for document processing and the ability to serve 25% more customers through efficiency gains. Uses cases include loan processing, underwriting, compliance, policy qualification, audits, onboarding data into loan origination systems, contracts, invoice processing and more.
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Ephesoft and Speridian Technologies also offer solutions and services for use cases across many other industries, including healthcare, manufacturing and the public sector. As a Microsoft Gold Partner, Oracle Platinum Partner, UiPath Platinum Partner, Google Cloud, Salesforce and Workato Partner, Speridian brings extensive expertise to customers seeking to digitally transform their operations through end-to-end automation.
“Speridian’s experience and expertise with technologies in the hyperautomation stack align perfectly with Ephesoft’s vision to put AI to work to free up human resources for higher value work,” said Ike Kavas, Founder and CEO of Ephesoft. “Considering that 80% of organizations’ data is unstructured and, according to analysts, the volume of data creation and replication is forecasted to grow 23% (CAGR) through 2025, intelligent document processing will be absolutely critical to stay competitive. Intelligent document processing is a key building block for digital transformation and necessary for businesses to become a fully automated enterprise. Speridian will be a great partner to us and our mutual customers to move us to the future of work.”
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