Press Release May 5, 2021
SimCorp, Wipro and other financial services customers use Alkymi to automate patterns in data capture to much more efficiently process unstructured data, 100% traceable back to source
NEW YORK, May 5, 2021 /PRNewswire/ -- Alkymi, a leader in decision intelligence and developer of Alkymi Data Inbox, today announced the launch of Alkymi Patterns, the first tool that gives business users a simple way to identify and extract data in real-time to automate business processes running on email and documents. Alkymi is also announcing strong business momentum, including more than 400% revenue growth over the last twelve months through established financial services customers such as SimCorp and partners such as Wipro.
In enterprises worldwide, the potential business value in unstructured email and document data is immense, but the process for unlocking it is broken. Efficiently capturing this business data - for example when onboarding a new customer - requires significant operational resources and time with the ever-present possibility of data loss and inadvertent human mistakes. This results in increasingly taxing workloads on employees as business grows, and a lack of agility, speed and accuracy that puts companies at risk of losing business to more efficient competitors.
"Alkymi brings computer vision and machine learning-powered automation into daily workflows, eliminating manual data entry by analysts and supercharging processes so that users can make more intelligent decisions, faster, and at lower cost," said Harald Collet, co-founder and CEO of Alkymi. "Adopting Alkymi Patterns allows organizations to introduce automation and human augmentation even more broadly across their workforces."
Alkymi Data Inbox + Patterns - Define, Automate and Repeat
Alkymi Data Inbox, the company's flagship platform, liberates the data stuck in emails and documents to enable faster and more accurate data extraction, power business processes with clean, decision-ready data, and increase time-to-insight for competitive advantage. Now, with Alkymi Patterns, business users - without the need for data science or other technical support - can extract specific data from tables and text to create their own automation jobs and eliminate repetitive email and document processing.
Once a data pattern is created, it can automate an infinite number of individual data extraction jobs, such as those required in banking, asset management, and insurance operations, to save huge amounts of time, money and resources while improving customer service and turn-around times.
Create Workflows that Move 98% Faster
First, business users leverage Patterns to define the data they want to extract using simple search terms in as little as one minute to eliminate manual work by 98%. These individual data fields will be assigned to a schema that can be used to automate the extraction of specific data points on an ongoing basis, processing nearly all of the unstructured data in a specific workflow.
Solve Any Document Processing Challenge
Powered by innovative computer vision, machine learning and a deep understanding of tabular data structures, Patterns is able to determine the context and location of the data points buried inside rows, columns, charts and text.
Simplify Any Business Process
Once business users set up their documents, email or other text, Patterns will locate, extract, and output the exact data needed. In this way, users can eliminate operational bottlenecks and simplify processes with their own customized and automated workflows.
"Alkymi Patterns enables business users to quickly extract targeted data from unstructured data, and do so in a way that keeps humans in the loop while giving them the power to automate repetitive business processes and save time and resources," said Nick Patience, Lead Analyst, AI and Machine Learning at 451 Research, a part of S&P Global Market Intelligence*.
Alkymi Patterns is now available for all Alkymi Data Inbox customers - learn more here: https://www.alkymi.io/patterns
Customer and Partner Quotes
Asbjørn Boye Knudsen, Partner, Damvad Analytics
"We solve complex business and data challenges for many leading financial services, life science, and government organizations in the Nordics. Damvad's partnership with Alkymi allows our clients to access valuable data locked up in email, documents, and images. Our expertise and Alkymi Patterns together deliver the transformative value that our customers expect."
Hugues Chabanis, VP Innovation, SimCorp
"Alkymi Patterns opens up a new universe of workflow automation for institutional investors who struggle to extract insights from unstructured data quickly. SimCorp has integrated Alkymi into its cross-asset, front-to-back platform - SimCorp Dimension - and can now address inefficiencies and a lack of automation in alternatives and the growing allocations of Limited Partners."
Vivek Agarwal, Partner, Capital Markets Consulting, Wipro
"Wipro helps businesses thrive in a world defined by disruption and fueled by transformative technology. The intelligent enterprise is enabled by technologies such as Alkymi Patterns, enabling business users to apply ML-enabled automation to their daily workflows. We have been impressed with Alkymi's ability to automate complex email and document challenges which are very relevant for our financial services and insurance clients."
Alkymi is a leader in decision intelligence and developer of Alkymi Data Inbox, a data extraction and automation application for the enterprise. We place machine-learning and automation in the hands of business users, democratizing access to technology to turn an operational headache into a source of efficiency and insight. By combining an easy-to-use tool with human-in-the-loop expertise, Alkymi frees employees from tedious, error-prone tasks to focus on high-value, rewarding work. Alkymi was founded in 2017 in New York City by a team from Bloomberg, Two Sigma, and x.ai with backing from Canaan, Work-Bench, SimCorp, and industry insiders. For more information, visit alkymi.com.
* Coverage Initiation: Alkymi focuses on making automated data extraction easier using machine learning – Nick Patience Lead Analyst | AI and Machine Learning, 451 Research part of S&P Global Market Intelligence