Intelligent Document Processing Expertise

What is Intelligent Document Processing?

Intelligent Document Processing (IDP) is a software technology that combines elements of Artificial Intelligence (AI) and Machine Learning (ML) with traditional data capture and document processing techniques.

It is designed to automate the extraction, understanding, and processing of data from various types of documents, such as invoices, contracts, forms, and emails. These can arrive in physical or digital format.

IDP is an essential technology for organizations looking to streamline document-intensive processes and enhance productivity.

Intelligent Document Processing expertise page

Benefits of Intelligent Document Processing

Higher straight through processing rates

Faster customer response

Increased accuracy

Significant cost savings

How Ondox uses IDP

Ondox digital mailroom solutions leverage IDP to enhance the efficiency, accuracy, and responsiveness of our customers’ operations. By automating the capture, classification, and extraction of data, Ondox enables our customers to boost productivity and reduce manual effort.

The Ondox digital mailroom solution enables end-to-end document processing with an easy-to-use interface and advanced analytics and reporting.

Discover more about Ondox

Core Capabilities of IDP

Capture

Classification

Extraction

Validation

Capture

When physical mail is received, it is first scanned and converted into digital format. IDP technology is used to capture the content of scanned documents accurately. This process can involve Optical Character Recognition (OCR) to extract text and data from paper documents.

Classification

IDP helps categorize both incoming paper mail and digital documents into predefined categories or types. This classification is crucial for routing documents to the appropriate recipients or workflows within the organization.

Extraction

IDP tools efficiently extract data critical information from incoming documents. For instance, IDP efficiently captures invoice numbers, monetary values, due dates, and other essential details, guaranteeing the accurate extraction of vital information.

Validation

Extracted data undergoes a thorough validation and verification process through IDP technology. Business rules and predefined logic are applied to confirm the accuracy of Presented in the tab format used for the 4 S’s Icons to be used for each capability below – similar to current Lithe icons but with Ondox design elements instead. Icons are to be situated on the left hand side.

data. For instance, cross-checking an invoice amount against a corresponding purchase order to ensure data integrity and consistency.

How Does IDP Work?

The dynamic combination of Natural Language Processing (NLP) and Machine Learning (ML) allows IDP to automatically interpret and process documents with unparalleled efficiency.

NLP empowers IDP to comprehend and derive context from text within documents, such as emails and handwritten notes, providing a deeper level of understanding.

Meanwhile, ML algorithms enable IDP to adapt and improve over time, learning from the documents it processes and enhancing data extraction accuracy.

Insights

What is Intelligent Document Processing (IDP)? A primer

According to the IDC, over 80% of business information is trapped in documents of…

Find out more

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 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.

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 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), Intelligent Process Automation (IPA) and Case Management.