Ellie Horvath
Eigen 5 delivers the fastest time to value in the market with a no-code AI platform that allows any user to transform any document into data
Eigen Technologies (Eigen), the global intelligent document processing (IDP) provider, announces today the launch of version 5 of its no-code artificial intelligence (AI) platform that enables organizations to access the 90% of data that is trapped inside documents such as contracts, policies and reports faster than ever before.
Eigen 5 brings together a suite of new and enhanced capabilities to enable enterprises to easily automate, connect and transform business-critical information, providing a foundational component of hyperautomation. Eigen 5 enables any organization to:
- Find, extract and explore even more of the document, now with cell-level Tables extraction, the only no-code solution for tables in the market today
- Realize value immediately with Instant Answers, which provides data on demand, no model-building required
- Integrate with any system to build true process automation, leveraging the new Eigen Integration Pipeline (EIP)
- And optimize document workflows with Global Control Hub, Global Search and pre/post-processing additions, enabling users to work across multiple projects and control their data
Eigen’s platform has long led the market in speed, accuracy and ease of use, leveraging the company’s pioneering work in small data AI. Eigen 5’s new capabilities include one of the world’s first generally available zero-shot extraction capabilities and a new, more powerful update to its market-leading tables data extraction module. This module is the first in the market to put full power in the hands of business users with no technical expertise required. Behind a simplified UI, Eigen deploys multi-modal AI (including proprietary NLP and computer vision technologies) to detect, reconstruct and extract key information from tables of varying formats. Eigen’s clients are already using its Tables module to process documents such as invoices in supply chain, policies in insurance and bond prospectuses in banking.
These features have been developed with input from Eigen’s clients across multiple sectors, including financial services, insurance, manufacturing, supply chain and professional services. Across industries, there is a clear demand for flexible, easy to use AI technology that can provide immediate value and tackle historically hard to read formats such as tables.
Eigen’s clients are already using Eigen 5, integrating it seamlessly with both upstream and downstream data systems. Eigen 5 comes with out-of-the-box connectors and are available for systems such as Microsoft® SharePoint, Epicor® ERP, Ironclad®, NetDocuments® and SAP® Data Warehouse Cloud. This enables Eigen’s clients and partners to make extensive use of these and the platform’s suite of APIs to deploy it across multiple use cases to deliver enterprise-wide hyperautomation.
Eigen 5 clients are using the platform to automate diverse use cases, including:
- In insurance – to automate underwriting, claims and policy admin processes so they can make faster, better-informed decisions
- In banking and financial services – to automate regulatory compliance, reporting, risk and loan management processes
- In supply chain and procurement – to automate the processing and review of documents such as invoices and complex, negotiated contracts
“Eigen 5 is a huge leap forward in enabling organizations to deliver digital transformation and ultimately hyperautomation. At Eigen, we build technology that is centered around the user and their needs. That is why we have built Eigen 5 as a modular platform to enable our users to leverage whatever technology they need to automate their business-critical, mundane, time-consuming and costly processes.” said Dr Simone Bohnenberger-Rich, SVP, Product – Eigen Technologies. “I am delighted with the positive reception of Eigen 5 by our clients and partners. When we embarked on developing Eigen 5, we started by talking to our users and the wider market. They told us that they want a platform that is flexible, integrates with anything they need it to and that empowers both their business and technical users. We have done this while maintaining our signature best-in-class accuracy rates, no-code features and pioneering small data approach, all of which enables us to deliver the fastest time to value in the market for our users. At Eigen we will always be defined by our ability to develop and commercialize innovative technology. Eigen 5 is our next step on that journey.“
Eigen 5 is now available to all customers and partners. It can be purchased directly from Eigen or via the company’s global network of partners.
Selected New & Enhanced Features of Eigen 5
- Table Extraction (including cell-level)
- Instant Answers
- Global Control Hub
- Global Search
- Eigen Integration Pipeline (EIP)
Selected Integrations for Eigen 5
- Microsoft SharePoint
- Epicor ERP
- Ironclad
- NetDocuments
- SAP Data Warehouse Cloud
Full details of Eigen 5 modules and capabilities can be found on the company’s website
About Eigen Technologies
Eigen is an intelligent document processing (IDP) company that enables its clients to quickly and precisely extract answers 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 answers from documents and can be applied to a wide variety of use cases. It understands context and delivers better accuracy on far fewer training documents, while protecting the security of clients’ data.
Eigen’s clients include some of the best-known and respected names in finance, insurance, manufacturing, law and professional services, including Goldman Sachs, ING, BlackRock, Aviva, Swiss Re and Allen & Overy. Almost half of all global systemically important banks (G-SIBs) use Eigen to overcome their document and data challenges. Eigen is backed by Goldman Sachs, Temasek, Lakestar, Dawn Capital, ING Ventures, Anthemis and the Sony Innovation Fund by IGV.
