Everest Group Recognizes ABBYY as a Leader in Intelligent Document Processing Products PEAK Matrix Assessment 2020 for Second Consecutive Year
ABBYY, a Digital Intelligence company, has been recognized by Everest Group, a leading consulting and research firm, as a Leader in its Intelligent Document Processing (IDP) products PEAK Matrix Assessment 2020. ABBYY is positioned in the Leaders’ category of the comparative assessment among 18 vendors due to its impact in the market and its ability to deliver solutions successfully.
ABBYY garnered the highest position on the axis for Vision & Capability which measures, among other factors, the company’s vision and strategy, product capabilities, monitoring and improvement; implementation and support; and the progressiveness and flexibility of its commercial models. Additionally, ABBYY was positioned high on the Market Impact axis, which measures market adoption, portfolio mix and value delivered to clients based on their feedback.
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“Everest Group recognizing ABBYY as a leader in the Intelligent Document Processing market for the second consecutive year is indicative of the substantial growth we are experiencing in the market,” commented Bruce Orcutt, Senior Vice President of Product Marketing, at ABBYY. “As organizations ramp up their digital transformation initiatives in response to global challenges and opportunities, content-centric processes are becoming more critical and require understanding and context of both content and processes. Our innovative Digital Intelligence solutions enable businesses to attain greater value from the data that already circulates within their organization.”
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ABBYY’s recognition as an IDP Leader follows an exceptionally successful 2019. The company achieved double-digit revenue growth for the third consecutive year, driven by a notable 210 percent increase in revenue from RPA vendor partnerships and integrations, enhanced partnerships with leading consulting firms, and a strengthened global presence, including a new office in the APAC market. ABBYY continued to see strong demand for its Digital Intelligence solutions with the expansion of the product portfolio, following the acquisition of TimelinePI, now ABBYY Timeline. Currently, a third of Fortune 500 companies leverage one or more ABBYY products.
“ABBYY has been positioned as a Leader within the Intelligent Document Processing PEAK Matrix assessment for two consecutive years,” said Anil Vijayan, Vice President at Everest Group. “The company’s vision and roadmap, innovative technology offerings, and robust partnerships with complementary technology vendors and system integrators, position the company well for continued success.”
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