News and research before you hear about it on CNBC and others. Claim your 1-week free trial for Street Insider Premium here.
Eigen and NetDocuments Enter Market with New Technology Integration Combining Their Respective Platforms
Partnership brings technology, performance and capability benefits to common and future customers
With 80-90% of the world’s business data trapped in documents, this partnership offers users a new ability to disseminate and use that information to transform decision-making.
NEW YORK – (BUSINESS WIRE) –
Clean technologies (“Eigen”), the global provider of intelligent document processing (IDP), and NetDocuments, the leading cloud content management platform for legal professionals, has forged a new strategic partnership and developed a technological integration linking the two platforms. Both common and new customers have already taken advantage of the new offer.
NetDocuments customers have huge amounts of business data trapped in documents. Eigen’s market-leading IDP technology enables NetDocuments customers to unlock and use this data, making it available as powerful metadata to drive analysis, manage obligations and ensure policy compliance. In turn, customers can now easily integrate Eigen’s code-free IDP application into NetDocuments’ modern and secure content management platform, thereby automating new document receipt workflows.
The integration of Eigen and NetDocuments is applicable in many use cases across many industries, including:
Regulatory and Compliance Reporting – Automate the extraction of relevant information for compliance exercises.
Underwriting and managing insurance policies – improve risk management and decision making.
Classify documents – create templates for discovering personal information or for managing contractual obligations.
Build and deliver custom AI solutions – training templates on low volumes of sample documents improve production speed and reduce costs compared to building from scratch.
John Krog, vice president of partnerships at Eigen Technologies, said:
“Eigen and NetDocuments are the perfect combination, each offering complementary technology. The combination of Eigen’s cutting-edge IDP technology and NetDocuments’ highly reliable content services gives the market exactly what it needs. As we both know from market experience, billions of dollars of data are currently trapped and unusable. The ability to extract this data with Eigen and manage it with NetDocuments solves this problem. It has been great working together to get this far and I look forward to moving this forward together. “
Reza Parsia, vice president of strategic partner management at NetDocuments, said:
“Eigen Technologies has done phenomenal work in the area of IDPs, and we are delighted to have them join the NetDocuments ISV partner network. Our mission is united, to deliver more value to common customers by improving their experience of the NetDocuments platform. “
About Eigen Technologies
Eigen is an Intelligent Document Processing (IDP) company that enables its customers to quickly and accurately extract responses from their documents, so they can better manage risk, scale operations, automate processes, and navigate. dynamic regulatory environments.
Eigen’s customizable, no-code AI-powered platform uses machine learning to automate the extraction of responses from documents and can be applied to a wide variety of use cases. It understands the context and provides better accuracy on much less training material, while protecting the security of customer data.
Our clients include some of the best known and respected names in finance, insurance, law and professional services, including Goldman Sachs, ING, BlackRock and Allen & Overy. Almost half of all global systemically important banks (G-SIBs) use Eigen to overcome their document and data issues. Eigen is backed by Goldman Sachs, Temasek, Lakestar, Dawn Capital, ING Ventures, Anthemis and the Sony Innovation Fund by IGV.
Founded in 1999, with more than 3,400 corporate clients worldwide, NetDocuments is the legal industry’s most trusted cloud-based content and productivity services platform. Complete with state-of-the-art integrated security, compliance and governance solutions, NetDocuments offers document management, email management and collaboration technology with disaster recovery, enterprise search, and topic-centric functionality. Learn more about NetDocuments.
Source: Eigen Technologies