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nThrive software robots or "bots" are customized to hospital needs, automating an exhaustive list of processes, including, but not limited to:

• Denial requests for medical records.
• Missing Internal Claim Number (ICN) / Document Control Number (CDN) claim.
• Eligibility research.
• Billing edits.
• Prior authorization submission/tracking and more.

Early adopters of nThrive RPA technology have achieved significant efficiency gains. In the area of claims management, one client in the Midwest estimated that it took a person a little over three minutes to determine if a certain field of information was available to enable release of a rebill. The bot was able to do the same amount of work in less than 20 seconds, resulting in a return on investment of 365-583%.

Embarking on an RPA initiative is ultimately about seeking new, disruptive solutions that not only improve current processes but introduce completely new ways of mastering health care revenue cycle management. When choosing to automate, medical organizations open the door to a higher level of innovation, enabling development of new revenue cycle management models that will improve bottom line.

"There is no better time than now to begin a digital transformation journey with RPA to free up cost and allow for re-allocation of cash for critical initiatives," says Andrew Woughter, senior vice president of Product Strategy at nThrive. "RPA is a tool for the health care industry to help manage recovery from the COVID-19 pandemic and to prepare for future disruptions of service."

About nThrive

From Patient-to-PaymentSM, nThrive provides the technology, advisory expertise, services, analytics and education programs health care organizations need to thrive in the communities they serve. nThrive integrates knowledge and expertise of the entire revenue cycle in a way that provides unmatched benefits for health care. nThrive empowers health care for every one in every community by transforming financial and operational performance, enabling health care organizations to thrive.

For more information on nThrive, please visit nthrive.com and subscribe to The nQuirer monthly newsletter, for health care industry news, blogs, case studies, educational webinars and events. Follow nThrive on Twitter; Like nThrive on Facebook; Connect with nThrive on LinkedIn; and Subscribe to nThrive on YouTube.

BOSTON, Dec. 14, 2020 (GLOBE NEWSWIRE) --  Indico, a provider of enterprise AI solutions for intelligent process automation, today announced an infusion of $22 million of series B funding co-led by Jump Capital and Sandbox Ventures. Bringing the total capital raised to $36 million this investment supplements prior funding from 406 Ventures, Osage Venture Partners, Hyperplane Venture Capital and Boston Seed Capital as well as a new investment from Nationwide's venture capital arm.

The new funding will enable Indico to further capitalize on its position as a leader in the fast-growing intelligent automation category. Built on its breakthrough artificial intelligence approach, Indico enables customers to capture dramatic efficiency gains by automating the intake and understanding of document and image-based workflows across the insurance, financial services and healthcare industries.

“The global pandemic has created a dramatic new set of challenges for business leaders in 2020”, said Tom Wilde, CEO Indico. “One of the most direct results has been the accelerated investment in digital transformation and automation initiatives to create more robust operating capabilities. Indico’s solution for the automation of document intensive workflows continues to drive results across our key verticals with our “business first” product strategy and our disruptive core technology advantage.”

“Automation has been among the fastest growing segments of the enterprise market over the past five years, and the pandemic has sown the seeds for accelerated adoption, as companies seek to pursue aggressive transformation efforts,” said Anil Vijayan, Vice President, Everest Group. “While RPA has become near-ubiquitous, enterprises continue to push the boundaries of automation potential by using it along with process mining, Intelligent Document Processing (IDP) and other intelligent automation technologies. Document-centric technologies such as IDP, in particular, are set to see explosive growth given the rising maturity of the technology, the sheer volumes of enterprise documents being processed manually, and the clear path to ROI.”

As part of its continued investments in the Indico product and technology, the company plans to double headcount in 2021, including new leadership hires in sales, partnerships, marketing, finance and solution engineering. The company also plans aggressive expansion of its channel relationships and integration partnerships to further broaden Indico’s industry footprint.

With the Series B financing, Indico added two new board members, Chris Zock from Sandbox Ventures and Saurabh Sharma from Jump Capital to provide industry knowledge and guidance.

“We are just at the beginnings of the intelligent automation movement. The market opportunity for Indico is huge as they enable enterprises unlock significant value. I am very excited to work with Tom, Slater and their brilliant team to help build an industry leading company in the automation space.”, said Saurabh Sharma, General Partner at Jump capital who will be joining the company’s board.”

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/

About Jump Capital

Jump Capital is a thesis-led venture capital firm specializing in series A/B and growth-stage investments ranging from $2 million to $20 million. Jump focuses on data-driven software companies across the Application Software, IT and Data Infrastructure, Fintech and Media sectors. Investing with an operating-centric approach, Jump provides advocacy and support for entrepreneurs, complemented with institutional level resources. Visit https://jumpcap.com/ for more information or follow us @jumpcapital.”

About Sandbox Insurtech Ventures

Sandbox Insurtech Ventures unites innovative insurance companies in a fund syndicate model, invests in promising technology start-ups, and drives collaboration between incumbents and insurtechs.  The fund team provides a global perspective on insurance innovation and, through investments in best-in-class insurtech start-ups, provides both attractive financial returns and strategic advantages for investors. Sandbox Insurtech Ventures is part of Sandbox Industries, an established venture capital firm that manages industry-specific funds.  Learn more at www.sbxinsurtech.com.

About Nationwide Ventures

Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter. Nationwide, Nationwide is on your side and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2020

AI has broadened its hold on our lives throughout the past year. Also, as a worldwide pandemic compelled lots of data scientists and researchers to work remotely, AI-driven developments continued to flow from the most astute minds everywhere.

AI is quickly coming "new normal” in all our lives. Moving forward, AI will certainly be the smart center of automated, robotic, and also contactless other processes that will safeguard us all from future pandemic episodes. With the COVID-19 situation still in full swing, below are some predictions for certain AI techniques, strategies, tooling, platforms, and applications that will certainly rise to the forefront in the upcoming year:

1. Automated governance will become key for controlling AI applications
2. Adversarial attacks will require countermeasures to protect the AI-driven economy:
3. Edge-based AI will crunch neural networks down to their essence
4. Facial recognition will become a dominant AI-based contactless authentication technology
5. Robotics will bring reinforcement learning into AI’s mainstream
6. Deepfake technology will infuse a new generation of AI-based media-prep tools
7. Quantum computing will find its first compelling AI application

As we turn the corner into 2021, we’ll also have a new administration in place at the White House, a fact that will shape these AI-industry trends that we can’t yet fully foresee.

Early indications are that online content authenticity, especially in election campaigns, will become a key priority for the Biden administration, and this may drive further private sector investment in the AI needed to ensure this. Beyond that, it’s unclear how, if at all, the next administration will deviate from the AI regulation principles proposed by the outgoing administration, or how all of this will drive the federal government’s fiscal, regulatory, or legislative initiatives relevant to this technology.

The best we can hope for is that the next administration actually institutes responsible regulation of AI at the federal level, while funding the R&D needed to develop credible tooling and approaches to manage AI responsibly -- or “ethically,” as the buzzword would have it -- wherever it touches our lives.

Quantexa, the contextual decision intelligence software company, today announced that it has raised $64.7 million in Series C funding. The round was led by Evolution Equity Partners, with major participation from existing investors Dawn Capital, AlbionVC and HSBC to fuel additional growth. New investors British Patient Capital and ABN AMRO Ventures also joined previous investor Accenture Ventures in this round. Richard Seewald, Founding and Managing Partner at Evolution Equity Partners will join Quantexa's board of directors as part of the deal.

Already with thousands of users in more than 70 countries, Quantexa intends to expand further into North America, Asia-Pacific and European territories. The company will deploy its category-leading Contextual Decision Intelligence (CDI) technology into additional sectors such as public sector, while developing more platform applications across financial services and broader cross-sector capabilities. Quantexa will also continue to rapidly grow its global partner ecosystem. This new round of funding follows a $22.7 million Series B round secured in August 2018, bringing total funds raised to date to $90 million.

Vishal Marria, CEO, Quantexa said, "We are thrilled that Evolution Equity Partners and British Patient Capital will be joining our team, alongside the strategic investment from ABN AMRO Ventures. Together with the continued trust and commitment from our existing investors, we will drive the next phase of Quantexa's growth. We are seeing a huge demand for our platform to support multiple applications across our core markets in financial services and within new industry sectors. This investment will accelerate our product innovation roadmap and enable us to invest further into Europe, North America and Asia Pacific regions, as well as expand into new locations."

CDI is an industry-leading, innovative approach to data that gives organizations the ability to join multiple internal and external data sets, to provide a single view of data enriched with intelligence about the relationships between people, places and organizations. Quantexa's pioneering CDI platform maximizes the value of data and transforms decision making across the customer lifecycle for enterprises to improve efficiency and maximize infrastructure investments.

Market-leading clients, such as HSBC, Standard Chartered Bank and OFX, and partners including Accenture and Dunn & Bradstreet trust Quantexa's contextual data approach and open, integrated technology to make informed business decisions across vast volumes of data.

"Quantexa's proprietary platform heralds a new generation of decision intelligence technology that uses a single contextual view of customers to profoundly improve operational decision making and overcome big data challenges. Its impressive rapid growth, renowned client base and potential to build further value across so many sectors make Quantexa a fantastic partner whose team I look forward to working with," added Seewald.

About Quantexa

Quantexa is a contextual decision intelligence software company that empowers organizations to drive better decisions from their data. Using the latest advancements in big data and AI, Quantexa's platform uncovers hidden risk and new opportunities by providing a contextual view of internal and external data in a single place. It solves major challenges across financial crime, customer intelligence, credit risk, fraud and throughout the customer lifecycle.

The Quantexa platform enhances performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has over 250 employees and thousands of users working with billions of transactions and data points across the world. It has offices in London, New York, Boston, Belgium, Toronto, Singapore, Melbourne and Sydney.

About Evolution Equity Partners

Evolution Equity Partners, based in Palo Alto, New York City and Zurich, Switzerland, invests in fast growing technology companies in North America and Europe helping exceptional entrepreneurs develop market leading companies. The firm has a focus on Cyber-Security and Enterprise Software and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world.

The NEAT evaluated 15 vendors on both their 'ability to deliver immediate benefit' and their 'ability to meet client future requirements'. EdgeVerve Systems was rated as a leader for exhibiting both a high ability relative to their peers to deliver immediate benefit and a high capability relative to their peers to meet client future requirements.

NelsonHall's NEAT vendor evaluation highlighted EdgeVerve System's strength as –

• Desktop observer for process discovery with/without user intervention
• Identify automation opportunities powered by a proprietary algorithm
• Automation Prioritization: expresses more information over a single automation score
• Flexible (floating) licensing model
• Partnership to provide end-to-end process view

The report cites, "EdgeVerve's AssistEdge Discover, in the past 1.5 years, has taken strides to deliver value to its clients. The platform's RPA-related features are well developed, which is no surprise considering the company has a history in that space."

AssistEdge Discover, EdgeVerve's process discovery offering empowers organizations with deep process insights, driving success, and impact across the organization in the areas of process transformation, automation strategy, operational productivity, audit and compliance.

For a full copy of the report, please click here.

The acquisition follows the notable launch of Humach's new website, which announced the next generation of AI-powered Digital Agents to their CX solution portfolio. In addition to deploying AI-powered live agent assistance and InfinitAI's other customer-centric applications, the ability to train, tune, visualize, and validate vast quantities of conversation data with full compliance is critical to the evolution of customer service. By combining conversational design and deep process expertise with AI and machine learning capabilities, these solutions will enable the automation of knowledge and data-driven decision-making for continuous improvements at every touchpoint in the customer journey.

"Customer expectations have evolved, and delivering AI-powered conversational experiences with voice, chat and SMS improves resolution rates, customer satisfaction, and outcomes in the contact center. InfinitAI and Agent-Assist will help guide agents through successful customer journeys with real-time information and decision trees to improve customer experiences for all our customers," said Tim Houlne, CEO of Humach. "We are delighted to join the talented Humach team to deliver exceptional customer experiences and operational efficiency using AI," said Paul Smith, CEO of InfinitAI, who will become Chief Revenue Officer for Humach.

To further enhance these capabilities, Humach has leveraged their partnership with top-rated cloud-based software companies to develop seamless integrations into platforms that include Microsoft, Google, Cisco, TalkDesk, Five9, Salesforce, Freshworks, Zendesk, UJET and Twilio.

To learn more about Humach AI-Powered Digital Agents visit: www.humach.com/digital-agents

To learn more about Humach-at-Home™ or on-premise agents visit: www.humach.com/humans

About Humach

Founded in 2015, with roots dating back to 1988, Humach is the leading agent and technology outsourcer behind a suite of cloud-based customer sales and support products that include Humach-at-Home™, AI-powered Digital Agents, top-rated omnichannel platforms, and award-winning customer experience solutions. The company's managed products and services are designed to augment existing contact center models using collaborative intelligence that leverages the strengths of both humans and machines. Humach simplifies and streamlines customer experiences for the world's leading brands with agents and technology.

Appian (NASDAQ: APPN) today announced Appian RPA, augmenting Appian’s Low-code Automation Platform with the ability to govern cloud-native Appian software robots in a unified automation stack. Appian’s full-stack automation now combines AI, RPA, workflow, decision rules, and case management at the speed of low-code. This means businesses can apply the right technology for the right use case to automate any end-to-end process.

Gartner’s November 2019 “Automate Business Operations to Scale Your Digital Business” report recommends that, “Application leaders responsible for application and product portfolio governance should combine RPA and low-code platforms to optimize and transform business operations.”

Appian RPA delivers:

Full-Stack Automation – Business automation value comes from the effective workflow orchestration of today’s modern workforce, including people, software robots (bots), and AI. Appian RPA completes Appian’s automation stack, uniting people, bots, and AI across business processes, and enabling centralized management of all enterprise automation technologies on a single platform.

Powerful Governance - Appian RPA leverages the Appian’s platform’s powerful governance to centrally manage, monitor, and deploy bots across the organization for increased scale and performance. Appian supports an Automation Center of Excellence by collecting and prioritizing automation requests from across the enterprise; managing and tracking all activities from request to completion; and enabling impact and value analysis for RPA and other automations deployed in production.

Security - Appian RPA runs on Appian Cloud, which is secure, globally available, and trusted to run mission critical, enterprise applications for the world’s largest organizations.

Scalability - Cloud-native RPA simplifies access and adoption across the enterprise, and the flexibility to run on Windows or Linux delivers cost advantages in operating a robotic workforce.

Appian RPA features include:

Intelligent image recognition of objects on a screen, reducing errors in bot actions.

Bots can be deployed on a scheduled basis for common back-end processes or can be invoked on-demand by business users as needed for customer-facing interactions.

“Human in the loop” optimization means bots can increase productivity through the automation of daily tasks, while keeping people engaged for rapid resolution when there are exceptions to straight-through-processing.

Detailed RPA audit trails show screenshots of robotic actions for complete visibility, control, and reporting.

Global Appian strategic partners including KPMG, Cognizant, Accenture Federal, Deloitte Spain, and Doble O Consulting are trained and certified on Appian RPA within their Appian practices. With Appian RPA, users can build unlimited bots for just $5k per month. Appian RPA will be generally-available on March 20, 2020 in the next release of the Appian Low-code Automation Platform.

INDUSTRY QUOTES

“Using Appian Cloud for process automation checks all the boxes for our security and reliability requirements. Appian RPA’s cloud-native bots running on that trusted infrastructure gives us confidence in expanding our use of RPA.”
- Kathy Melgar, AVP, Retirement Solutions Division, Pacific Life

“We’re one of the largest labor unions in North America. That means mountains of forms processing and other work with our half-a-million members. Appian RPA as part of a unified automation stack delivers the speed and scalability we need.”
- Matt Richard, CIO, Laborers International Union of North America (LiUNA!)

“Rethinking business processes and optimizing operations with an integrated automation stack enables employees to focus on more meaningful work while powering corporate growth. Cognizant draws on the Appian Platform to help our customers move fast and innovate with purpose.”
- Greg Hyttenrauch, President, Cognizant Digital Systems and Technology

“Appian RPA offers significant advantages in flexibility and total cost of ownership. Those and other benefits are enhanced through native integration into a complete automation stack.”
- Jorge Arahuetes, Partner, Business Process Management, Deloitte Spain

“Automation is not about any single technology; it’s about how technologies work together. Achieving value at-scale requires a smart strategy for how to combine RPA, AI, and workflow, and seamless execution of that strategy. Appian has the full package.”
- Dago Huerta, COO, Doble O Consulting

“Automation is redefining the modern workforce. Our alliance with Appian is about delivering solutions that demonstrate the impact of unifying humans, bots, and intelligent machines, while driving transformational value at scale.”
- Marcus Murph, Principal, Advisory, Digital Enablement, KPMG

About Appian

Appian provides a low-code automation platform that accelerates the creation of high-impact business applications. Many of the world’s largest organizations use Appian applications to improve customer experience, achieve operational excellence, and simplify global risk management and compliance. For more information, visit www.appian.com.