What is Intelligent Document Processing?

Intelligent Document Processing (IDP) converts unstructured data

In the modern business world, documents are omnipresent. From invoices to contracts, the flood of paperwork can be overwhelming. But what if you could convert this unstructured data into valuable, usable information? That’s exactly what Intelligent Document Processing (IDP) does. But how does it work, exactly? Let’s dive in!

What is IDP?

Intelligent Document Processing is a technology that transforms unstructured and semi-structured data into structured information. Using AI, machine learning, and other advanced technologies, IDP enables end-to-end automation of document-centric business processes.

Why is IDP important?

Imagine you’re a financial accountant and you have to manually review hundreds of invoices. This is not only time-consuming, but also error-prone. With IDP, you can automate this process, save time and minimize errors.

How does IDP work?

  1. Data capture: first, documents are scanned or digitally imported.
  2. Data classification: IDP systems identify the type of document.
  3. Data extraction: at this point, relevant information is extracted from the document.
  4. Data validation: the extracted data is checked and validated.
  5. Data integration: finally, the validated data is integrated into an ERP system or other software.

Application examples

  • Invoice processing: Automatic capture and allocation of invoice data.
  • Contract management: Fast extraction of key information from contracts.
  • Customer service: Automatically respond to customer inquiries by scanning and understanding e-mails.

Conclusion

IDP is a game-changing tech that boosts efficiency big time. And guess what? No coding skills needed to dive in. Now, if you’re on Infor ERP, DocBits is the cream of the crop. Why? First off, we’ve got more than 25 integrations with Infor, making us an unparalleled choice in the Infor Marketplace. Our swarm intelligence makes training a breeze, and our over 95% accuracy in data extraction is a lifesaver. Add fair pricing and top-notch support into the mix, and it’s a no-brainer. DocBits is your ultimate IDP solution for Infor ERP.

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IDP

What is Intelligent Document Processing?

Image credits: Header- & Featured image by macrovector_official & rawpixel.com on Freepik

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