Mumbai, January 7, 2011: Datamatics Global Services, provider of next-generation solutions that address business challenges of customers worldwide, today announced that leading research firm Ovum, a Data monitor company has published a positive Technology Audit on i-Q™, a smart document processing and interpretation solution from Datamatics.
i-Q™, aimed at automating paper-to-ERP processes, is an intelligent document processing platform. i-Q™ incorporates aspects of Artificial Intelligence and Fuzzy Logic to retrieve data fields from images of semi-structured and unstructured documents.
i-Q™ processes, interprets and validates documents with little or no manual intervention, enabling organizations to process documents with higher accuracy and improved turn-around time. All of this leads to dramatic gains in efficiency and significant cost savings.
Produced by Mr. Somak Roy & Ms. Sue Clark of Ovum, the document titled “Technology Audit: i-Q™ Datamatics”, succinctly describes the strengths of
i-Q™ as a solution primarily aimed at automating paper-to-ERP processes; a flexible solution providing highly accurate results with improved turn-around times. In Ovum’s view, together with these strengths and the scalable offshore service facility provided by Datamatics, organizations that have to process high volumes of paper can benefit immensely by way of greater efficiency and accuracy.
Solutions powered by i-Q™ have been deployed effectively in places where there is a significant volume of unstructured paper documents, for example legal documents, contracts, and even universities’ PhD thesis archives.
According to Mr. Rahul L. Kanodia, Vice Chairman and Chief Executive Officer, Datamatics Global Services Limited, “It has been our endeavour to propel our customers’ growth by enabling automation of their critical business processes. Research has proved that as little as 5% of automation can lead to as much as 20% improvements in profitability.”
“Solutions leveraging i-Q™ have helped customers reduce turn-around times by as much as 80%, while similarly impacting productivity and efficiency. I am pleased that Ovum’s Technology Audit echoes our view and acknowledges ability of i-Q™ to deliver tangible and sustainable business benefits to our customers”, added Rahul.
i-Q™ has been customized for a range of industries, which include: banking, healthcare, logistics & transportation, insurance, capital markets and media. Customers across these industries have gained tremendous value from leveraging a single, integrated and user-friendly platform that is highly adaptive to their business needs.
The Ovum technology audit report further says, “Considering i-Q™’s strengths, we believe that it is well-suited for companies that have large-scale processes with a strong paper component; are looking to revamp their supplier relationship management solution-set and processes; or are seeking to embark on business process management (BPM) implementation projects. Moreover, companies with even moderate volumes of paper (such as market research processes at B2B companies) should consider i-Q™ if their data retrieval processes are currently being executed by high-value employees and/or if the demand profile is sometimes hard to predict.”
Ovum’s key findings on Datamatics’ i-Q™:
• A flexible solution that requires minimal changes to existing mailroom practices.
• Enables a high level of accuracy and low turnaround of time (TAT).
• Software is backed up by a scalable offshore service facility.
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