The pressure on businesses to become more efficient and better optimized keep increasing every day. To achieve such goals, many companies keep investing in digital transformation, exploring innovative technologies to get ahead on their competition. One such technology is Intelligent Document Processing (IDP).
What is IDP: Intelligent Document Processing?
Intelligent document processing is a technology that enables organizations to digitize and process unstructured data from various sources. Using machine learning, natural language processing, optical character recognition (OCR) and workflow automation, IDP can read, identify, give context and process said documents, just like a human would be able to do, only much faster.
Why does it matter?
Businesses are always trying to become more optimized and improving processes and experiences for employees and customers is the key for success. The main goal being to lower operational costs, increasing revenue and customer retention.
IDP significantly increases benefits by processing documents in a way that is easy for humans to understand and manage. Employees become free from tedious and time-consuming processes, being able to focus on other tasks, while customers experience the efficiency of document-based processes.
Where can IDP be applied?
Many businesses can benefit from IDP in various use cases, such as:
- Insurance claims: Document processing of new and existing claims can be automated for the documents to be routed and processed faster. Relevant information can also be automatically extracted, including unstructured data, such as handwritten notes and images.
- Financial documents: Whether it’s an accounting business or a financial institution, with IDP, organizations can extract all the relevant data from documents, such as bank statements, financial reports, etc., processing it and adding it to relevant databases, making the entire process much more efficient and accurate.
- Logistics and supply: Orders can be processed much faster; shipment tracking and invoice and credit processing can also benefit from this technology.
- Healthcare: As in other businesses, healthcare also processes substantial amounts of invoices. Also, medical charts, patient files and forms that might be handwritten, can also benefit from IDP.
These are just a few industries that can benefit from IDP, but many more can take advantage of the technology and optimize their business.
TML: Texter Machine Learning – A whole new level of automatic extraction of information and data analysis.
Your content and data are the foundation upon which your business operates, and critical decisions are made. The adoption of AI enables us to develop a whole new level of automatic extraction, which optimizes efficiency, empowering new business opportunities and freeing critical human resources to specific value-added tasks.
- Process your data with different AI engines, integrating the results.
- Supports several data formats: images, video, text, etc.
- Generate updated content and document versions based on AI results
- Store extracted information in metadata, enabling further processing and process automation.
- On cloud or on-premises – in case you don’t want data to leave your private infrastructure
- Compatible with several different ECM providers
- Ability to develop custom AI models to target your specific needs and data
Download here our TML: Texter Machine Learning (Datasheet) and contact us!
If you’re struggling with your digital transformation, remember… you are not alone in this… Texter Blue is here to help you providing the best results! Make sure you read our news and articles and contact us.