Legacy Players and Upstarts
This type of OCR engine (and name one example for bonus 100 points) is free, publicly available and often requires a heavy lift in terms of building infrastructure around it for our target customers to realize value with it.
Open Source OCR, Google Tesseract
This tool, used to automate simple, highly repetitive manual tasks is turning from Friend to Foe
RPA
The fact that Hyperscience leverages a proprietary engine built purely using ML and not OCR technology (unlike many of our IDP competitors) plays an important role in this differentiator
Best in class data extraction
IBM Datacap, The VA
The name of Automation Anywheres competing IDP product
IQ Bot
This common complaint about legacy tools limits companies abilities to efficiently set up and roll out new use cases
Code heavy template creation/interfaces
Relating to Hyperscience IDP, this friendly type of technology can be used to carry out a variety of insurance business processes, changing a customer's address is an example of one
Policy Administration System, Guidewire is an example of a company that sells policy admin software. Many large insurers can have homegrown ones
Our out of the box automation rates are a key indicator of this differentiator
Shorter time to value
Hyperscience has phased out this incumbent at this recently acquired wealth management firm and now processes millions of typed and handwritten documents per year, we started with just handwritten ones
Kofax, TD Ameritrade
CI Investment pays us 3x more compared to what this vendor proposed because our solution performed so much better.
ABBYY
Companies use this feature of most OCR Tools to make documents searchable within a database
Full Page OCR
This type of tool is becoming a Foe as they will no longer be needed to create, manage, and change workflows.
Business Process Management (BPM)
It takes some competitors ~ 1 month to make 2-3 templates in their IDP product. What is the Hyperscience differentiator here
Built for business users
Our most competitive incumbent challenger
The Status Quo
Following a data integrity mishap involving the US government, this company relaunched as Vidado.
Captricity
This common complaint about Upstarts is centered around time to value when using their technologys' ML
Large sample size required for model training. Long time to value
This Foe is a tool/medium in which insurance companies can collect data directly from end customers in their homes- one example of where it could be used is at the beginning of the insurance application process
E-Form or Portal
This differentiator that we provide our customers is increasingly important for large companies as the rate of innovation quickens
Operational Agility
This company is using us to process over 20 Million pages per year and are receiving >86% automation at >99% Accuracy
This companies RPA product, know called “Company_Name RPA”, was previously called Kapow
Kofax RPA
This Upstart is big in the Financial Services space and a key weakness of theirs is that they are Saas only.
Instabase
This Foe is not a specific tool but a method of sending and receiving data (often purchase orders and invoices) where tools like OCR or Hyperscience are not needed
Electronic Data Interchange (EDI)
Hyperscience's customers are able to reduce costs because we help them to BLANK.
Automate Manual Work/ Repurpose labor
Peter has said a challenger needs to be this amount better than an incumbent for there to be a desire to change
10x better
There are a number of core applications that can be augmented and rearranged to provide a flow. Name 4 of them
Classification, Extraction, Deduplication, Collation, Validation, Custom code bloction