Intelligent Document Processing
Harness the power of Intelligent Document Processing for smarter document processing
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.
Benefits of Intelligent Document Processing
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.
Core Capabilities of IDP
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
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.
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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