What is a Inteligent document processing Platform
An intelligent document processing (IDP) platform is a software solution that automates the extraction, validation and integration of data from various types of documents. IDP platforms use a combination of technologies such as optical character recognition (OCR), natural language processing (NLP), machine learning (ML) and artificial intelligence (AI) to process unstructured and semi-structured data from documents such as invoices, contracts, forms, receipts, reports and more.
IDP platforms can provide several benefits for businesses and organizations that deal with large volumes of documents on a daily basis. Some of these benefits are:
- Improved accuracy and efficiency: IDP platforms can reduce human errors and manual labor involved in document processing, resulting in faster and more accurate data extraction and validation.
- Enhanced customer experience and satisfaction: IDP platforms can enable faster and smoother document processing workflows, leading to improved service delivery and customer satisfaction.
- Reduced costs and risks: IDP platforms can lower the operational costs and risks associated with document processing, such as data entry errors, compliance issues, fraud detection and data security.
Some examples of IDP platforms are:
- ABBYY FlexiCapture: A cloud-based IDP platform that offers end-to-end document processing capabilities for various industries and use cases. It supports multiple languages, formats and sources of documents, and provides advanced data extraction, classification and verification features. It also integrates with various enterprise systems and applications via APIs and connectors.
- IBM Datacap: An on-premise or cloud-based IDP platform that leverages AI and ML to capture and analyze data from documents. It supports structured, semi-structured and unstructured documents, and provides customizable rules and workflows for data extraction, validation and integration. It also offers cognitive capture capabilities that can learn from user feedback and improve over time.
- UiPath Document Understanding: A cloud-based IDP platform that is part of the UiPath automation platform. It uses OCR, NLP, ML and AI to process documents of any type, format or complexity. It provides a user-friendly interface for data extraction, validation and integration, and allows users to build custom document processing workflows using UiPath Studio or UiPath Automation Hub.
Some references for further reading on IDP platforms are:
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