AYR’s 2-2-4 approach takes on “impossible” enterprise IDP challenges

Enterprises seek speed-to-value when deploying intelligent document processing (IDP) solutions. In the case of IDP, that speed-to-value is the time it takes to reach an optimal level of accuracy and precision when extracting data from documents—the longer the time, the lower the return on investment.

To deliver that speed-to-value, AYR (formerly Singularity Systems, a 2022 HFS Hot Vendor) offers a refreshing 2-2-4 approach

The 2-2-4 approach delivers at pace—and with quite some audacity

In AYR’s case, 2-2-4 means two days to identify a use case, two weeks to deliver a proof of value, and four weeks to move the solution to production. That’s a simple yet aggressive value proposition—and audacious, too. AYR says it is ready to take on use cases previously thought impossible to automate and use the 2-2-4 approach to prove to clients that its IDP solution can deliver “the impossible.”

For example, AYR helped a large American investment banking services company label, build, and train an AI model in one week to automate a complex use case related to bank cover letter processing. With a data extraction accuracy close to 99%, compared to 40% with the legacy IDP platform, the client reduced risk, increased operational efficiency, and saved more than $1 million annually.

AYR saw 100% customer retention in 2022, proof that clients value its bet on accelerating speed-to-value. The speed comes through its combination of artificial intelligence (AI) techniques.

The unique fusion of AYR’s proprietary AI techniques is the secret sauce enabling the 2-2-4 approach

Many vendors use optical character recognition (OCR) or natural language processing (NLP) AI techniques. Some use computer vision (CV) or machine learning (ML) AI. They usually use an “or” approach when it comes to AI techniques. Very few vendors adopt an “and” approach by combining all four AI techniques to offer a solution mimicking how humans think. The human brain uses all four of these capabilities simultaneously to form reasoning and decisions, and AYR injects this multimodal approach into its IDP platform to increase speed and accuracy.

It uses CV to identify patterns and components of a document structure (“shape and form”), NLP and ML to comprehend words and their surrounding context (as a person would), and adaptive OCR to identify text irrespective of factors such as location, fonts, difficult handwriting, or background interference. It executes all these techniques concurrently.

AYR is keeping its foot on the gas, and it continues to push innovation

AYR continues to improve its patented AI Pathfinder technology by introducing a wide range of UI enhancements to improve user experience and by enhancing its backbone, which is based on tens of millions of semi-structured real-world documents, further optimizing its multimodal AI approach.

It is enhancing its Intelligent Data Simulator to tackle the reality of scarce training data in many customer use cases and to keep up with new document formats. It’s also working on data post-processing capabilities, targeting best-in-class straight-through processing.

The Bottom Line: Enterprises that place IDP at the heart of their process transformation will benefit from the speed-to-value AYR offers.

Thanks to its fusion of proprietary AI techniques and continuous investment in research and development, AYR is delivering speed-to-value for clients. But enterprises must be ready to see transformational IDP technology, such as AYR, as more than just a document reader. Unless clients are prepared to place IDP at the heart of their process transformation, they will likely miss the advantages of advanced IDPs. Stay tuned for our 2023 IDP Horizons study in the next few months.