Alkymi launches Patterns to allow business users to identify and extract data in real-time

Alkymi, a specialist in decision intelligence and developer of Alkymi Data Inbox, has launched Alkymi Patterns, a new 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 per cent 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,” says Harald Collet, co-founder and CEO of Alkymi. “Adopting Alkymi Patterns allows organisations to introduce automation and human augmentation even more broadly across their workforces.”

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.

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 per cent. 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.

“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,” says Nick Patience, Lead Analyst, AI and Machine Learning at 451 Research, a part of S&P Global Market Intelligence.