Document processing is a core aspect of any business. However, the traditional way of handling documents can be inefficient and expensive. Intelligent document processing (IDP) makes it easier for businesses to capture data from documents in an affordable way.
IDP solutions allow you to convert paper-based documents into digital ones in seconds, saving time and resources. They also ensure that your information is always available, ensuring no delays when finding something quickly or retrieving an old file from storage.
What is intelligent document processing?
IDP is a technology that allows you to extract data from documents automatically. It is used for many applications, including capturing, extracting, transforming, and loading (ETL) data into your database or ERP system.
Sometimes referred to as intelligent document analysis or business process automation (BPA), IDP is a subset of artificial intelligence and one of the most common techniques used in AI today.
The term itself isn’t new; IBM coined it 30 years ago with their Intelligent Document Capture product. However, it only became popular when companies began applying it to more than just images and PDF files.
What to look for in an IDP solution?
The first thing to look for in an IDP solution is the ability to process many document types. A powerful IDP solution should be able to handle all kinds of documents, including invoices, purchase orders, and contracts.
It should also be able to process documents in any language and format. The solution should adapt easily when new formats are introduced or old ones disappear. Some solutions even support handwritten forms on paper!
The second thing to consider is the ability of your IDP system to process documents in any size and orientation (vertical/horizontal). Some systems only work with standard sizes like A4 or letter paper folded into thirds – others can handle any size imaginable – even if it’s just one pixel large!
The third thing to look for is the ability of your IDP system to extract data from documents. For example, if you are processing invoices, what fields do they contain? What about purchase orders or contracts?
Can your solution automatically identify the relevant data on a document and pull it out for further processing? If not, how much manual work will users need to enter this information before it can be used?
Benefits of intelligent document processing
When you use IDP, you’ll reduce manual work and errors. This is because it automates the process of reading, analyzing, and organizing documents so that users can make more accurate decisions faster.
A good IDP solution will also improve productivity by streamlining your operations and eliminating bottlenecks in your workflow processes.
For example, if you have to manually enter data from a scan of an invoice into your system before sending it to accounting for billing purposes (and then go back later to correct any mistakes), then IDP can save you time by automatically sorting through the documents first so only those with errors need to be reviewed by human eyes—saving everyone involved plenty of time overall!
Finally, IDP solutions can increase the quality of data because they’re highly accurate at extracting information from scans or photocopies – meaning there’s less room for error than with traditional OCR (optical character recognition), which often struggles with handwritten text or illegible fonts/images due to poor lighting conditions, etc.
IDP is changing the way businesses capture data from documents. If you’re still struggling with manual processes, it’s time to make the switch. IDP offers many benefits, including reduced processing costs and increased efficiency.