enChoice, a global enterprise content management and digital transformation solutions company, has merged with Sypht, an AI-based online OCR platform provider. Together, the companies will empower organizations to unlock the value of their critical financial data and information hidden in documents, reducing the time and resources required to manage their corporate spend.
This strategic merger delivers extensive value to both organizations and their customers and partners. The Sypht team and product set will gain dedicated resources, investment and focus that delivers new products and features to the market faster. The Sypht customer base benefits from additional development expertise to support their current and future needs.
KwikTag, the enChoice software division, primarily serves the Microsoft Dynamics mid-market customer base with intelligent accounts payable and payment automation solutions. With Sypht technology, KwikTag instantly advances their AI and machine-learning data extraction and invoice OCR capabilities. The AI technology will become the foundation of cloud-based document intelligence solutions across the software portfolio going forward.
“This is extremely exciting for Sypht and all of our customers around the globe as we announce our merger with enChoice, one of the world’s leading technology and digital transformation companies,” says Warren Billington, CEO of Sypht. “The Sypht AI platform delivers real, measurable business value for our customers, and as we continue to innovate and grow, we identified an opportunity to work with the enChoice team, ultimately resulting in the merger we’re announcing today that will enable us to deliver even stronger solutions to our customers and partners.”
“These products combined strengthen both company’s offerings, opening new markets for the Sypht product line, while creating new capabilities for KwikTag customers,” adds Brian Curry, enChoice COO and President of the software division.
“We are absolutely committed to the Sypht customer base and continued enhancement of the product set,” concludes Mike Fernandes, enChoice VP of Products. “At the same time, the addition of Sypht technology to the KwikTag product line will also quickly and significantly expand the feature set of the intelligent invoice processing that is part of the AP automation solutions which are widely adopted in the growing Microsoft Dynamics market. Our goal is to continue to improve and modernize the way all of our customers do business.”
The united solutions will enable customers to:
Accelerate their AP process with intelligent online OCR, reducing invoice processing time from weeks to minutes
Improve data extraction accuracy while minimizing manual data entry across invoices and other critical financial documents
Increase AP process visibility, saving time while also providing peace of mind for customers that their data is accurate and secure
Founded in 1993, enChoice, Inc. is an award-winning digital transformation solutions company. enChoice technologies and solutions enable content and process-based automation in the cloud, hybrid, or on-premises with comprehensive and ongoing support. Discover why over 1,000 leading companies have chosen enChoice as their trusted digital transformation partner. For more information, visit www.enChoice.com or www.KwikTag.com.
Sypht was founded in 2018 as a partnership of BPAY Group and Boston Consulting Group Digital Ventures with this mission – to unlock the value of the world’s hidden information and turn documents into data, insights and business value. Sypht helps businesses extract information from documents using AI-based OCR online and machine learning which improves productivity and visibility while reducing risk.
Source : https://www.newswire.com/news/enchoice-and-sypht-announce-merger-to-expand-ai-software-footprint-21636473
- enChoice, Inc.
- United States