enChoice and Sypht Announce Merger to Expand AI Software Footprint

enChoice, a global enterprise content management and digital transformation solutions company, welcomes Sypht, an industry-leading AI-driven OCR platform provider to the family. Sypht joins the KwikTag software division of enChoice. Together, the companies will empower organizations to unlock the value of their critical financial data and information hidden in unstructured documents. The solutions will reduce the time and resources required to manage their corporate spend.

This strategic merger delivers extensive value to both organizations as well as to their customers and partners. The Sypht team and product set will gain dedicated resources, investment and focus to deliver new products and features to the market faster. The Sypht customer base will benefit from additional development expertise to support their current and future needs by developing the specific solutions to best enable their growth.

KwikTag primarily serves the Microsoft Dynamics mid-market customer base with intelligent accounts payable and payment automation solutions. The inclusion of Sypht technology instantly increases their AI and machine-learning data extraction capabilities. Both companies’ solutions are SaaS-based, which will advance their integration to strengthen current products. The AI-based technology will become 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 growing Microsoft Dynamics cloud ERP 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 intelligent online OCR, 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.”

About enChoice

The enChoice family of companies delivers enterprise and mid-market enterprise content management (ECM) solutions to a global market. KwikTag, a member of the software division of enChoice, Inc. was founded in 1997 and is a proven leader in accounts payable and payment automation solutions. KwikTag created the first fully integrated Microsoft Dynamics platform that seamlessly fit into existing business processes. With nine U.S. patents and the ability to integrate with most Microsoft business applications, KwikTag solutions can simplify and accelerate the accounts payable and payment process for a variety of industries and business types.
For more information, please visit www.enChoice.com or www.KwikTag.com.

About Sypht

Sypht was founded in 2018 as a partnership of BPAY Group and Boston Consulting Group Digital Ventures with this mission – to unlock the value of the world’s hidden information and turn documents into data, insights and business value. Sypht helps businesses extract information from documents using AI and machine learning which improves productivity and visibility while reducing risk. Now serving a global market, Sypht joins the enChoice family of companies to expand in technology depth and customer applications, while continuing to diligently support their customers and partners.
For more information, please visit www.Sypht.com.