“Strategic Partnership to Expand S2W’s Non-Security Business Portfolio”

S2W Partners with Epapyrus to Advance Documentation AI Solution

- S2W leads AI development and maintenance; Epapyrus handles sales, marketing and public procurement

- The companies will also collaborate on global service operations targeting the Americas through their U.S. entities and local subsidiaries

- “We will identify new growth engines based on our AI capabilities and unstructured data processing expertise while expanding our non-security business portfolio”

S2W has entered into a strategic partnership with Epapyrus, a Document AI specialist led by CEO Kim Jeong-hee, to jointly advance Streamdocs AI, an AI-powered expense documentation solution.

Epapyrus is a leading company in the Document AI market, helping organizations turn vast volumes of records and digital documents into valuable assets through differentiated electronic document technologies. The company offers advanced AI-based document analysis systems and has built a strong presence in the market through two decades of experience in public procurement and private-sector sales.

Streamdocs AI combines advanced AI analysis capabilities with Streamdocs, Epapyrus’ HTML5-based streaming viewer. The solution automatically compares and verifies supporting documents, including approval forms, receipts and card vouchers, in real time within a web viewer, reducing expense approval review time by up to 50%. Its key features include AI Summary, which automatically summarizes approval forms and supporting files in natural language; Key-Value Matching, which compares system database field values with extracted document values; Amount and Evidence Matching, which verifies whether amounts, locations and dates match and identifies missing information; and AI Q&A, which supports conversational search.

Through the partnership, the companies plan to combine their respective technical capabilities and sales expertise to accelerate market expansion. S2W will lead the technical side of Streamdocs AI, including enhancing the AI engine and overall product performance, maintaining the solution and responding to customer requirements. Epapyrus will oversee public procurement registration as well as the acquisition and maintenance of relevant certifications, while leading product sales through public procurement distributors and other channels. The company also plans to expand market reach through original equipment manufacturer (OEM) agreements with electronic documentation providers and related marketing activities.

As market demand for the use of diverse document assets continues to grow, the companies also plan to expand their collaboration beyond AI-powered expense documentation solutions into related markets. By connecting their technologies and distribution infrastructure, they aim to maximize business synergies and establish a foundation for addressing AI transformation (AX) demand across both the public and private sectors. The companies will also work together to operate global services targeting the Americas through their respective U.S. entities and local subsidiaries.

Kim Jeong-hee, CEO of Epapyrus, said, “Streamdocs AI is a next-generation AI-powered expense documentation solution designed to fully automate complex evidence review processes for enterprises and public institutions. Demand for early adoption is already growing among existing customers and solution providers, and we expect strong interest from organizations seeking to maximize operational efficiency and enhance accounting transparency.”

Suh Sangduk, CEO of S2W, said, “Building on years of accumulated AI capabilities and expertise in processing unstructured data, we are exploring new growth engines beyond our existing business areas. By combining S2W’s technical know-how with Epapyrus’ advanced service operations capabilities and robust sales infrastructure, we will maximize synergies in Korea and overseas while continuing to expand our non-security business portfolio and strengthen our market presence.”