Partnership Solves Challenges of Automating Business Document Workflows
NEW YORK– November 11, 2020 — Kryon®, the leading full-cycle automation solution provider known for its customer-centric approach to robotic process automation (RPA) and process discovery, today announced its strategic partnership with Hyperscience. By combining the Hyperscience Intelligent Document Processing (IDP) offering with Kryon’s industry-first Full-Cycle Automation suite, clients can unlock a breakthrough approach to extracting valuable, structured and semi-structured data from enterprise documents for greater process automation.
Kryon Full-Cycle Automation improves productivity by automating tedious business processes on any enterprise application and even across multiple applications. With the power of Kryon Process Discovery™ built into the platform, Kryon identifies and analyzes processes that are ripe for automation and turns them into automated workflows, assigned to a Kryon Robot for fast and error-free execution. Kryon Full-Cycle Automation has been proven to maximize ROI (352% ROI in less than three years) and cut RPA implementation time by up to 80%.
“Kryon is always open to partnerships with innovative companies that can remove the barriers to successful automation deployments,” said Daniel Peled, senior vice president of Channel Sales at Kryon. “Reliably and efficiently extracting critical data locked in unstructured document formats is one of those common barriers that only Hyperscience can solve at scale. By combining our two powerful solutions, Kryon and Hyperscience create even more value for our shared enterprise customers, helping them deploy automation more quickly, accurately, and cost-effectively.”
The Hyperscience IDP solution uses proprietary Machine Learning to automatically classify and extract data from diverse document types, including difficult conditions that cause legacy technology to fail like messy handwritten text and low resolution or distorted images. Hyperscience’s technology automates 95% of data entry with over 99.5% accuracy, far surpassing the average industry accuracy rate which hovers around 55%. Hyperscience continues to learn on an organization’s data, behind their firewall, to drive lower error rates and higher automation. Customers who choose Hyperscience experience a 67% increase in accuracy of data processing, up to 10x faster processing time, and a 90% cost reduction with more streamlined and efficient processes.
“Enterprises deal with an extraordinary amount of unstructured content, typically trapped in documents and images,” said Max Lien, Head of Strategic Partnerships and Corporate Development at Hyperscience. “Data automation is the critical step zero of any business process, and enterprises are using the Hyperscience Platform to transform how they use data, make business decisions, and structure their operations. The need for enterprise automation has never been greater, and with our recent Series D financing, we will accelerate our international expansion and ship continued innovation. A key pillar of this entails working with strategic partners like Kryon to enable more enterprises to unlock the benefits of automation to better serve their end customers.”
For more information on the partnership between Kryon and Hyperscience and how to solve the pressing challenge of extracting data from documents, register for the joint webinar, Handwriting No Longer a Hinderance in Robotic Process Automation, broadcasting live on BrightTalk on Tuesday, November 17, 2020, at 10:00 am Eastern.
To learn more about Kryon’s Partner Program and its benefits for providers and customers, visit https://www.kryonsystems.com/our-partners/.
Hyperscience modernizes mission-critical processes and operations for Global 2000 organizations and governments. Since 2014, Hyperscience’s automation technology has helped data-centric companies parse through vast amounts of unstructured inputs and raw information to get to swifter and smarter business outcomes. Through the Hyperscience Platform, enterprises are empowered to transform their operations, and drive operational efficiency as well as human productivity by fully unlocking the power of their data. Ranked on the Inc. Fastest-Growing Company List, Hyperscience has raised $190M+ from investors including Tiger Global, BOND, Bessemer Venture Partners, Stripes, and FirstMark. The company has a global footprint with offices in New York City, Sofia, Bulgaria, and London, UK. For more information please visit www.hyperscience.com.
Kryon ® is a leader in enterprise automation, offering the only platform on the market which encompasses both Process Discovery technology and Robotic Process Automation (RPA). The Kryon Full-Cycle Automation™ solution maximizes ROI by 352% according to Forrester Research and cuts RPA implementation time by up to 80 percent. Powered by proprietary AI technology, Kryon Process Discovery™ automatically generates a comprehensive picture of business processes, evaluates them, and recommends which ones to automate. Kryon offers desktop-based attended RPA, virtual-machine-based unattended RPA, or a hybrid combination of both. The company’s award-winning suite is used by enterprises worldwide, including AIG, Allianz, Deutsche Telekom, EY, Ferring Pharmaceuticals, HP, Microsoft, Santander Bank, Singtel, Verizon, and Wyndham Hotel Group.
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