enChoice and Sypht Announce Merger to Expand AI Software Footprint
enChoice and Sypht Announce Merger to Expand AI Software Footprint
Addition of the Sypht product line accelerates and extends intelligent data capture and insights throughout the enChoice software portfolio. February 21, 2022.
enChoice, a global enterprise content management and digital transformation solutions company, has merged with Sypht, an industry-leading AI-driven OCR platform provider. Together, the companies will empower organisations to unlock the value of their critical financial data and information hidden in unstructured documents, reducing the time and resources required to operate their businesses.
This strategic merger delivers extensive value to both organisations as well as to 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. At the same time, the Sypht customer base benefits from additional development expertise to support their current and future needs by developing the specific solutions that will help enable their growth.
The enChoice software division, KwikTag, which primarily serves the Microsoft Dynamics mid-market customer base with intelligent accounts payable and payment automation solutions, instantly increases their AI and machine-learning data extraction capabilities with the inclusion of the Sypht technology. Both companies’ solutions are SaaS based, which will accelerate their integration to strengthen current products, as the AI technology also becomes the foundation of document intelligence solutions across the software portfolio going forward.
“This is an extremely exciting day 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 and measurable business value for our customers every day, 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.”
“The combination of these products strengthens both company’s offerings, opening new markets for the Sypht product line, while quickly contributing to the development of 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 the ongoing enhancement of the product set,” says Mike Fernandes, VP of Products for enChoice. “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 mature and 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 enhanced, intelligent data extraction, reducing the time needed to process an invoice from weeks to minutes.
- Significantly improve data extraction accuracy while minimizing manual data entry across invoices and other critical financial documents.
- Increase AP process visibility from end to end, saving time while also providing peace of mind for customers that their data is accurate and secure.
“With more than 1,000 customers and a team of more than 100 employees, enChoice is committed to helping organizations on their digital transformation journey,” concludes Tony White, enChoice Chairman. “We welcome the Sypht team and customers to the enChoice family, and we will work diligently throughout the transition and beyond to ensure the excellent product performance and support that all of our customers trust.”
To learn more about KwikTag solutions, please visit www.KwikTag.com.