BOSTON, July 15, 2020 /PRNewswire/ -- Indico, a leading provider of intelligent process automation for document intake and understanding today announced a record second quarter 2020 for new customer bookings, including its largest ever contract to date. Indico's Q2 performance also included strong customer renewals and a 200% increase in year over year contracted recurring revenues. Indico has seen continued momentum across its primary insurance and financial services verticals, where the presence of large amounts of unstructured data are driving interest in Indico's award-winning solution for addressing the river of documents, email, text, and images that drive critical processes across these industries.

The global pandemic has further heightened the focus on digital transformation as major enterprises seek to create more automated and resilient processes that deliver more efficient use of resources and insulation from the past's highly centralized workforces. As an example, one of Indico's new customers is using Indico IPA to process unstructured content as part of a major Covid-19 impact analysis project, and Indico was also named to the KMWorld AI Top 50 list.

"The past few months have been the most difficult period most of us have had to face," said Tom Wilde, Indico CEO. "The combination of having the Indico team transition to remote work while needing to support our customers through their own challenges created incredible obstacles to overcome, and the Indico team delivered an amazing performance."

Indico also today announced the appointment of Keith Bowen as Vice President of Strategic Alliances responsible for the development of Indico's technology integration, reseller, and deployment partnerships. Keith brings a decade of success from the automation industry, most recently as VP Alliances for RPA leader Blue Prism.

"Keith's experience and relationships across the automation market make him a perfect hire for Indico at this time as we aggressively drive to expand our partner channel," said Tom Wilde, Indico CEO. "Investing in the channel will accelerate our market reach, and Keith's leadership here will drive our success."

In addition, the company announced today that Don Zereski has been promoted to Executive Vice President, Engineering for Indico, having joined the company as Vice President of Engineering in 2019.

"Don arrived at Indico last year and made an immediate impact, transforming our product development process and dramatically accelerating our roadmap," said Tom Wilde, Indico CEO. "Don's leadership across our Engineering, Research, and Product initiatives will be a vital part of our future market leadership."

About Indico Indico is the leading provider of Intelligent Process Automation (IPA) solutions. We help organizations turn process into profit by enabling them to automate manual, labor-intensive, document-based workflows. Our breakthrough in solving these challenges is an approach known as transfer learning, which allows users to train machine learning models with orders of magnitude less data than required by traditional rule-based techniques. With Indico, enterprises are now able to deploy AI to unstructured content challenges more effectively while eliminating many of the common barriers to adoption. For more information, visit https://indico.io/.

SOURCE Indico

https://www.indico.io

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Indico Posts Record Q2 in New Bookings as Automation Wave Continues to Accelerate - PRNewswire