Intelligent Document Processing
Harness the power of Intelligent Document Processing for faster, efficient document processing
What is Intelligent Document Processing?
Intelligent Document Processing (IDP) is a software technology that combines elements of Generative AI (GenAI) and Machine Learning AI (ML) with traditional data capture and document processing techniques.
It automates the understanding, and processing of any type of document, such as invoices, contracts, forms, and emails. Large Language Models (LLMs), a type of GenAI, allow even highly unstructured documents, such as handwritten correspondence or lengthy contract documents, to be automatically understood without the need for human intervention.
IDP is an essential technology for organizations looking to streamline document-intensive processes and enhance productivity.
Benefits of Intelligent Document Processing
Higher straight through processing rates
Faster customer response
Increased accuracy
Significant cost savings
How Ondox uses IDP
Ondox AI document processing solutions leverage IDP to enhance the efficiency, accuracy, and responsiveness of our customers’ operations. By automating the understanding and extraction of document-based information, Ondox enables our customers to boost productivity and reduce manual effort.
Ondox solutions enable end-to-end document processing with an easy-to-use interface and advanced analytics and reporting.
Core Capabilities of IDP
Capture & Understand
When physical mail is received and scanned into digital format, or “born digital” documents arrive as email attachments or via other channels, IDP technology is used to capture and understand the content of those documents accurately. This process typically involves Optical Character Recognition (OCR) to convert document content into machine-readable text and AI to extract text, data and context from the document.
Classify & Label
IDP helps categorize both incoming paper mail and born-digital documents into predefined categories or types. This classification helps route documents to the appropriate recipients or workflows within the organization. By labeling documents by type, teams and systems can process document more efficiently.
Extract & Export
IDP tools efficiently extract critical information from incoming documents and can export that data to in-house or 3rd party systems. For example, IDP efficiently captures invoice numbers, monetary values, due dates, and other essential details, accelerating the accurate processing of valuable business transactions.
Validate & Progress
Extracted data undergoes thorough validation and verification through IDP technology. Business rules and predefined logic are applied to confirm the accuracy of document-based data. For example, IDP can cross-check an invoice amount against a corresponding purchase order to ensure data integrity and consistency. By automating this validation and verifying compliance to business rules, IDP progresses work that otherwise would consume human time and effort.
How Does IDP Work?
The dynamic combination of Generative AI (GenAI) and Machine Learning (ML) allows IDP to automatically interpret and process documents with unparalleled efficiency.
GenAI empowers IDP to comprehend and derive context from text within documents, such as emails and handwritten notes, providing the deep level of understanding that would otherwise require the time and experience of a human expert.
Meanwhile, ML algorithms enable IDP to adapt and improve over time, learning from the documents it processes and becoming increasingly smarter with each document processed.
- Insights
What is Intelligent Document Processing (IDP)? A primer
FAQs
Optical Character Recognition (OCR) and Intelligent Document Processing (IDP) are often confused as they are both used to achieve the same goal – understanding the content of documents.
OCR converts an image of text into machine-readable text. When a potential customer submits a pay slip as a photographic image from a mobile phone to a bank, OCR converts the salary number on that pay slip into machine-readable text. A downstream system, such as an HR or ERP system, can then automatically process that information without human intervention.
IDP is a larger technology that uses OCR but has more capabilities. Interestingly, IDP will sometimes use more than one “OCR engine” to achieve better results. For example, one “OCR engine” may be good at converting printed text, while another may have particular success in converting handwritten text.
IDP additionally leverages AI technologies, including GenAI and Machine Learning, to automate the understanding of document content, mimicking the human work of looking at documents to understand what they mean.
IDP is used to understand the content of documents within many business processes, such as new account openings, claims processing and mortgage lending.
Other technology is often required to automate the full end-to-end process involved. As a result, IDP is commonly deployed alongside other Intelligent Automation software such as Robotic Process Automation (RPA), Workflow Automation, and Case Management.
Related Resources
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Intelligent Document Processing (IDP) – What’s Next?
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Unstructured Data: Making it Work for the Human-in-the-Loop
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