Amsterdam-based Doculayer.ai, a document processing platform, announced on Thursday that it has been acquired by ProcessMaker, a Durham, US-based Business Process Management (BPM) platform. The exact terms of the deal have not been disclosed.
ProcessMaker says it will incorporate Doculayer’s Intelligent Document Processing (IDP) into its Business Process Management (BPM) platform to accelerate product enhancements.
The announcement comes over a year after ProcessMaker raised $45M in a Series A round of funding from Aldrich Capital Partners.
ProcessMaker: What you need to know
Founded by Bobby Vernon and Brian Reale during the dotcom boom and bust of 2000, ProcessMaker delivers low-code process automation solutions to the world’s largest companies, particularly in banking, higher education, and manufacturing.
The platform makes it easy for business analysts to collaborate with IT to automate complex business processes, enabling faster decision-making, improved compliance, and better performance.
“At ProcessMaker, we build low code tools and solutions so that our customers can automate complex processes that deliver true value to their businesses,” says Brian Reale, CEO of ProcessMaker.
“Many of our customers are still plagued by inefficiencies around documents, images, and emails that prevent them from gaining efficiencies from automation. Doculayer has processed over 500 million documents for some of the world’s leading brands and across dozens of highly complex process use cases. We are thrilled to welcome the highly skilled Doculayer team and the opportunity to bring further innovation to the world of process automation,” he adds.
Doculayer.ai: What you need to know
Based out of Amsterdam, Doculayer is the Intelligent Content Platform that processes and manages unstructured information, such as scanned documents and images, using Artificial Intelligence (AI) and Machine Learning (ML) technologies. As a result, the platform improves the findability of large data.
The Doculayer.ai platform can be integrated with business applications and processes in the current IT landscape, which means it can process unstructured content in existing systems.
“So many complex processes still involve inefficiencies because data appears to be unstructured and trapped in difficult-to-use formats. Once this data can be unlocked and intelligently interpreted, we can add incredible efficiencies to existing processes,” said Richard Smit, founder and CTO of Doculayer.
He adds, “Intelligent Document Processing adds tremendous value to process improvement, but it’s only one piece of the puzzle. What ProcessMaker is doing with the acquisition of Doculayer is completing the picture by adding intelligence from documents alongside their proven modelling, orchestration, and automation. This provides a complete process improvement vision to tackle the toughest process challenges faced in the enterprise.”
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