Soroco named a leader in Everest Group’s PEAK Matrix® for task mining technology provider 2023 for the second consecutive year

Soroco named a leader in Everest Group's PEAK Matrix® for task mining technology provider 2023 for the second consecutive year
Soroco named a leader in Everest Group's PEAK Matrix® for task mining technology provider 2023 for the second consecutive year

Soroco’s flagship product, Scout, is acknowledged for vision, impact, and capability

Bengaluru, August 22, 2023: Soroco has been named a leader for the second consecutive year in the Task Mining Products PEAK Matrix® Assessment 2023 released by Everest Group, a leading research and analyst firm.

The evaluation was based on specific criteria that analysed the company’s flagship product, Scout, along with 19 other vendors for their market impact, vision, and capability.

Soroco’s performance underscores their dedication to innovation and a mission to change how the world gets work done. Soroco’s flagship product, Scout, is a multi-modal transformer model that learns from enterprises and creates a work graph that reveals what they do not see: the hidden pains teams experience at work and how they impact business outcomes. By autonomously generating solutions to address these pain points, Scout empathises with how teams experience work and helps them enhance their productivity.

“We are delighted to have been acknowledged by Everest as a leader for the second year in a row,” stated Soroco’s CEO, Samson David. “Enterprises are blind to the ‘dark side of the moon”—how people and teams experience work when they interact with digital devices and go about their daily tasks. At Soroco, we have designed, trained, and deployed transformer architecture models in a novel way to bridge the gap, understanding the impact of how teams experience work on end business outcomes and identifying measures to assist teams in succeeding, becoming more productive, and improving organisational outcomes.”

“Soroco has reinforced its position as a leader for the second consecutive year on Everest Group’s Task Mining Products PEAK Matrix® 2023, owing to its strong vision, depth and breadth of product capabilities, and continuous focus on product innovation and thought leadership. It also emerged as a star performer due to strong year-over-year growth in its market impact and capabilities,” said Amardeep Modi, Vice President at Everest Group. “Product vision and roadmap, ability to identify automation and process enhancement opportunities, and data protection and privacy are some of the key strengths indicated by its clients.”

Everest Group’s Task Mining PEAK Matrix Assessment 2023 includes 19 technology providers within the task mining industry. The report consists of the PEAK matrix, which classifies task mining providers into leaders, major contenders, and aspirants. Leaders have demonstrated high overall market impact, a strong vision, and the capability to respond to the demand for holistic task mining solutions.

Soroco leads the category because of these reasons, as outlined in the report:

Innovative Process Understanding and Optimisation: Soroco’s Scout AI model revolutionises how enterprises discover and optimise processes. By analysing user interactions and highlighting inefficiencies, it identifies bottlenecks and maximises employee potential.

Advanced Machine Learning and Analytical Capabilities: Leveraging both supervised and unsupervised learning techniques, Soroco’s transformer-based ML model classifies team interactions and annotates process maps with business context.

Strategic Partnerships: Soroco has built collaborations and partnerships with leading players in the industry to accelerate digital adoption and employee training. This has led to an increase in market share and deeper engagements with existing clients.

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