Intelligent Document Processing (IDP), a form of Intelligent Automation, is a new system of data recognition and extraction from complex documents. IDP systems use traditional document scanning technology, primarily OCR software, and other machine learning tools to scan, categorize, extract, and analyze data from semi-structured or unstructured documents. IDP systems allow users to seamlessly integrate the data into workflow automations.
IDP systems and RPA software are overlapping categories that involve automation of repetitive tasks. RPA software designs and employs bots to handle simple tasks, whereas an IDP system optimizes unstructured data to enhance workflows. IDP systems often complement RPA software to ensure that the highest quality data is integrated into automated workflows.
IDP systems are in many ways an evolution of more traditional Optical Character Recognition (OCR) software. OCR software extracts text from structured electronic documents and converts the recognized text into an editable PDF or text file. IDP systems expand the core functions of OCR software by identifying and extracting data from unstructured documents, such as articles, emails, contracts, and letters. OCR software and IDP systems both eliminate the need for manual data entry. However, OCR software often requires more customization than IDP systems. IDP systems also automatically integrate the extracted data into existing workflows.
IDP systems include the following identifiable features:
Ability to process unstructured/semi-structured data
Data recognition & classification
Automated data extraction
AI & machine learning tools to accelerate data analysis
Integrations with data management software
When deciding if an IDP system is right for your business, consider the following factors:
Document Complexity- Consider the volume of complex documents that don’t always follow a specific structure. IDP systems are ideal for businesses that process lengthy, detailed documents that do not follow a strict format.
Business Size- IDP systems are often used by enterprise-level businesses that are already familiar with automated workflows.
IDP system use cases- IDP systems can be implemented into workflows across a range of industries. Which existing IDP system best suits the needs of your business?
You should contact specific vendors to request a demo and get a quote to determine the cost of an IDP system. The pricing usually includes an initial fee to set up the system and train users. Vendors may charge a fixed annual/monthly fee or use tiered pricing based on how many documents are uploaded into the system.
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CAPSYS | CAPTURE and CAPSYS | CAPTURE ONLINE are document capture solutions, from CAPSYS Technology in Colorado Springs, designed to enable organizations to benefit from a scalable information management system that automatically assimilates emails and documents from Microsoft Office…
Evolution AI is a solution for intelligent data extraction from financial documents boasting human-like accuracy, from Evolution Artificial Intelligence in London. Evolution AI uses computer vision and natural language processing (NLP) to extract data from PDFs, scans and machine-…
OCR Gateway is an OCR tool that helps users to optimize document workflows. With OCR Gateway users can extract data from anywhere, build workflows and collaborate with teammates. OCR Gateway features: 1. Data Extraction & Curation AI-driven optical character recognition (OCR)…
