Box Disrupts Intelligent Document Processing Market with Acquisition of Alphamoon Technology
Expands Box’s Intelligent Content Management Capabilities with AI-powered Document Processing and Metadata Extraction
"We are entering a new era of Intelligent Content Management and this acquisition represents a pivotal moment in our mission to revolutionize how enterprises derive value from their content," said
Driving Innovation in Intelligent Document Processing (IDP)
Alphamoon’s technology combines leading large language models (LLMs) with proprietary OCR and document processing technology to intelligently structure documents at scale. Once fully integrated with Box, Alphamoon’s technology will further expand the capabilities of the Box AI platform to revolutionize IDP by leveraging:
- Advanced, proprietary OCR technology to intelligently understand complex document structures;
- Leading third-party AI models (such as GPT-4 and Gemini) to drive innovation in metadata extraction to allow Box customers to structure their unstructured content in a simple and easy-to-use way;
- Box’s enterprise-grade security and policies and applying it to AI implementation, with no additional training, to ensure all customer data remains safe and secure.
“IDP remains a critical origination point for increasingly complex document workflow using intelligent capture paired with automation,” said
Alphamoon’s technology for document extraction and metadata will be seamlessly integrated into Box and these enhancements will enable customers to tackle a number of use cases and projects with wide-ranging benefits, such as:
- Automating metadata extraction from business documents allowing users to leverage information stored within invoices, purchase orders, financial statements, contracts, leases, and more;
- Streamlining workflows based on extracted metadata, such as using metadata to understand if a legal contract is missing information, and alerting a legal assistant to complete it;
- Integrating extracted information with external applications like Salesforce. Today, the Box for Salesforce integration is one of the most widely used at Box and by leveraging enhanced metadata extraction in Box, enterprises can optimize core workflows, like loan processing;
- Enhancing industry-specific processes, such as analyzing clinical studies in life sciences or financial documents in the financial services sector.
Pricing and Availability
Box expects to announce availability and pricing for new intelligent document processing capabilities at a later date. For more information on today’s news, visit the Box Blog.
About Box
Box (NYSE:BOX) is the Intelligent Content Cloud, a single platform that enables organizations to fuel collaboration, manage the entire content lifecycle, secure critical content, and transform business workflows with enterprise AI. Founded in 2005, Box simplifies work for leading global organizations, including AstraZeneca, JLL, Morgan Stanley, and Nationwide. Box is headquartered in
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