SAN FRANCISCO, CA, June 27, 2023 /24-7PressRelease/ -- Ripcord and Oracle have announced a partnership that promises to revolutionize document processing for businesses worldwide. This integration combines Ripcord's Document Intelligence as a Service (DIaaS) with Oracle ERP products, offering a unique solution that transforms the way companies manage their documents and activate their data.
Ripcord's DIaaS provides intelligent document processing, transforming all documents into easy-to-access, action-ready data. The solution leverages robotic digitization, cloud-native, AI-powered intelligent document processing, and human-in-the-loop validation to securely deliver highly-accurate data that meets SLAs, with a lower total cost of ownership. This unique approach ensures that all documents, including both paper and digital, structured and unstructured, are part of the data set and requires no resource-intensive development and implementation, making it easy to deploy and manage. With the addition of cutting-edge Generative AI technology, Ripcord's DIaaS is even more versatile and powerful, offering businesses a comprehensive solution for all their document processing needs.
The partnership between Oracle and Ripcord is set to revolutionize document processing, making it faster and more accurate than ever before. With the combination of Ripcord's DIaaS and Oracle's ERP solutions, businesses can streamline document processing, increasing speed and accuracy in accounts payable, invoice processing, back office automation, general legal, and HR, and improving the data in their Oracle ERP.
Ripcord's DIaaS complements Oracle's ERP solutions, including Fusion, Ebusiness suite, PeopleSoft, and JDE, offering a seamless integration that feeds document intelligence into any line of business. Accounts payable, invoice processing, back-office automation, general legal, HR, and more will all benefit from automated document processing and improved data accuracy.
Enterprises often face significant challenges when trying to implement intelligent document processing (IDP) in-house. The integration between Ripcord and Oracle offers a complete solution that is easy to deploy and manage. With Ripcord's DIaaS, businesses can eliminate the challenges associated with implementing IDP in-house, such as integration with existing systems, data privacy and security concerns, training and implementation, scalability, and data quality issues.
"Data extracted through an Intelligent Document processing (IDP) solution often needs to be ingested into multiple downstream applications or systems such as ERPs, CRMs, and ECMs to appreciate the true benefits of automation," said Vaibhav Bansal, Vice President at Everest Group. "Pre-built integrations of IDP solutions with these applications and systems can expedite the implementation process, reduce complexity, and streamline the process and data workflows."
The new partnership between Oracle and Ripcord promises to bring together the power of Oracle's ERP solutions with Ripcord's DIaaS, offering businesses a complete solution that is easy to implement and manage. This partnership is set to revolutionize document processing and increase speed and accuracy across the enterprise.
About Ripcord
Ripcord is a Silicon Valley-based company disrupting the $62 billion document intelligence space with its cutting-edge Document Intelligence as-a-Service platform. Using advanced robotics and AI, Ripcord digitizes, ingests, classifies, and intelligently extracts and abstracts data from paper and digital records, making them accessible and actionable to enterprise users. Founded in 2015 out of NASA research, Ripcord is backed by the world's leading investors including Kleiner Perkins, Google Ventures, Icon Ventures, Lux Capital, and Apple co-founder Steve Wozniak and. For more information, visit: www.ripcord.com.
About Oracle Partner Network
Oracle Partner Network (OPN) is Oracle's partner program that provides partners with a differentiated advantage to develop, sell and implement Oracle solutions. OPN offers resources to train and support specialized knowledge of Oracle's products and solutions and has evolved to recognize Oracle's growing product portfolio, partner base and business opportunity.
Key to the latest enhancements to OPN is the ability for partners to be recognized and rewarded for their investment in Oracle Cloud. Partners engaging with Oracle will be able to differentiate their Oracle Cloud expertise and success with customers through the OPN Cloud program – an innovative program that complements existing OPN program levels with tiers of recognition and progressive benefits for partners working with Oracle Cloud.
To find out more visit: https://www.oracle.com/uk/partnernetwork/program/build/
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