How Can Intelligent Document Processing (IDP) Help Organisations Succeed?

Intelligent Document Processing (IDP) converts manual forms into a digital format to integrate these documents into business processes. This technology exists to help organisations to save time, save money, and to reduce errors while processing and digitising documents. 

IDP is a viable way for companies to increase the capacity of their existing workforce, allowing them to handle more without increasing the headcount. As almost every organisation is mandated to do more with less, IDP is a critical technology that can help organisations thrive.

Although IDP sounds like the latest innovation in the AI space, the IDP industry has evolved over the last 30 years. In the early days, it used Optical Character Recognition (OCR) solutions to convert letters and characters in the images into machine-encoded text. Today, next-generation solutions can interpret natural language, incorporate computer vision, and advance machine learning. The next-generation IDP solutions play nice and integrate with a whole stack of enterprise applications.

The benefits of intelligent document processing technology are almost endless, 

• Reduce costs
• Increase productivity 
• Improve security 
• Saves time 
• Eliminate manual processes 
• Automate repetitive tasks 
• Create custom workflows 
• Streamline business processes and much more! 

In the upcoming section, we will focus on a few of the benefits of using IDP. 

Five Ways Intelligent Document Processing Technology Helps Businesses Succeed

1. Automate document processing tasks

Many business processes are automated by intelligent document processing technology, including scanning, OCR (Optical Character Recognition), indexing, tagging, and data extraction. These technologies help businesses in saving time and money while increasing productivity.

2. Improves Customer Service

Intelligent document processing technology enables businesses to provide customers with faster and more accurate responses. Documents are automatically indexed and tagged when scanned, making them searchable and accessible. Companies can then respond to customer inquiries without manually reviewing each document.

3. Reduce Costs

Companies can use Intelligent Document Processing technology to reduce paper-based operations and eliminate the need for manual labour. Furthermore, Intelligent Document Processing minimises the time spent on repetitive tasks, resulting in greater efficiency.

4. Optimise Workflow

Intelligent document processing software makes workflow management easier and eliminates the need for employees to perform mundane tasks such as copying and entering data from business documents and forms. By integrating with existing systems, Intelligent Document Processing technology increases the speed at which documents and data are processed to streamline your business operations.

5. Improves Accuracy

IDP solutions eliminate the need for manual processing of data. Hence, there is no room for human error, and the data extracted is >99% accurate. IDP ensures that data extraction processes are quicker and more accurate than before.