Box, Inc. has announced its acquisition of Alphamoon's AI-powered intelligent document processing (IDP) technology. Coupled with Box's recent acquisition of Crooze, this significantly expands the company's Intelligent Content Management (ICM) platform capabilities.

The integration of Alphamoon's technology with Box AI aims to revolutionize how enterprises extract value from their content. By combining advanced OCR technology with large language models like GPT-4 and Gemini, Box plans to offer enhanced metadata extraction and document structuring capabilities.

Aaron Levie, Co-Founder and CEO of Box, emphasized the significance of this acquisition, stating, "We are entering a new era of Intelligent Content Management. This acquisition represents a pivotal moment in our mission to revolutionize how enterprises derive value from their content."

The enhanced platform is expected to address various use cases, including automating metadata extraction from business documents, streamlining workflows based on extracted data, and integrating information with external applications like Salesforce.

“IDP remains a critical origination point for increasingly complex document workflow using intelligent capture paired with automation,” said Amy Machado, Senior Research Manager, Enterprise Management & Workplace Strategies, IDC.

“To enable automation, organizations need a high level of accuracy, usability, and flexibility to support their diversity of documents and custom business requirements. With the Alphamoon acquisition, Box now has a complete end-to-end solution, unlike the pure-play IDP vendors.”

Alphamoon’s technology will provide Box with capabilities 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.

Box has not yet announced availability and pricing for the new intelligent document processing capabilities.