Introduction
Intelligent Document Processing (IDP) has become an inevitable necessity in a world of overbrimming data. Harnessing the true potential of Artificial Intelligence (AI) and its counterparts, namely Machine Learning (ML), Natural Language Processing (NLP), Computer Vision & automation, enables scalable & expedited data processing. Now, one can extract insights from documents, focusing on specific details. Specific search query criteria can focus on what pertinent information is required, then analyze it and create a meaningful report, delivering contextual revelations. These insights are data-driven and based on the intelligence to find and interpret them. These insights are useful for data analysis, predictive modeling, statistical extrapolation for forecasting & general analytics. Let us enter the stellar world of intelligent document processing platform
What is IDP & how does it work?
Consider the concept of deep learning – what it is and how it works. Now take that very concept and apply it to IDP. Essentially, IDP is the culmination of AI, which scans written material & data to extract valuable something from the client or reader. It speeds up the process of doing so (capable of processing large volumes of data) and adds an element of intelligence. What’s more, IDP provides a broader range of tools to open various perspectives when handling data. For instance, AI-based document analysis enables contractual terms to be identified, flagged if necessary, and then revised or updated accordingly.
The benefits of IDP
The report analysis is universally understandable, driving better and more efficient process improvement. It empowers users to predict trends based on past data and make deductions by comparing various factors. Ultimately, this propels aptly informed decision-making, which can make the difference between staying afloat (if not boosting revenue) or drowning in today’s competitive and merciless markets. Additionally, the productivity boost also entices workforces to reinvest their time saved in commercial expansion & marketing. Need a reliable & scalable solution for all your documentation needs? Then IDP for document processing automation is your answer! These intelligent document processing tools will make your work life much easier.
How does IDP help businesses?
These are an array of the ways that IDP assists businesses & users in their daily operations:
– Boosts accuracy with AI-powered automation, ensuring results collated are sensible
– Automation reduces the need for futile manual & mundane clerical tasks, powered by NLP
– As an extension of automation itself, documents can now be automatically categorized
– Better compliance by adhering to predefined rules & ensuring consistent processing accuracy
– Enhanced customer satisfaction, as it is now easier to navigate & find the information needed
– Improved accessibility & security via integrated access control mechanisms
– Greater flexibility with customized workflows
XtractEdge – an AI-based IDP solution
Edge Verve’s XtractEdge offers a comprehensive solution for all your IDP needs. Running on AI-based algorithms, this package drives efficiency, productivity & specificity like never before. Its flexible data management & analytics pipelines allow you to focus on the present, adapt & react accordingly and prepare for the future. In addition, their deep learning methodology augments unlocking latent business value via this intelligent document processing platform. The stellar model flow is:
Digitize
Absorb and extract complex document layouts, written text & visual items
Enrich
Hone this extracted data by adding context
Analyze
Draw insights from the extracted data
Consume
Use analyzed information through downstream integration & search
Integrated connectors enable collaboration with enterprise apps, yielding faster decision making, while precise computer vision detects intent for apt understanding. Moreover, cognitive searches deploy NLP for accurate entity extraction and keyword-based queries. The ergonomic GUI creates personalized workflows for ultimate adaptability and robust quality assurance with their performance analytics. The best part of the solution is that this is enterprise-ready – a platform that can deliver professional services & support. Managed infrastructure services for application & usage in a variety of domains makes XtractEdge a leader in the IDP industry. Now we can all benefit from quicker time to market & value while remaining regulatorily compliant.
Conclusion
Now that we know what IDP is all about, let us take a step back and reevaluate its benefits. IDP offers anyone the ability & opportunity to deeply analyze virtually any document containing data or written text information. Irrespective of the format, it serves to envision insights that may not otherwise be possible to yield merely by thoroughly & intelligently scanning files. This scrutinized extraction process delivers four significant benefits.
Firstly, it’s scalable & performed quickly at speed. Secondly, it is much more accurate compared to human intervention. Thirdly, it drives efficiency via the abovementioned avenues and aids in predictive trend analysis. Fourthly, IDP reinforces flexible workflows yet compliance adherence, ensuring that a balance between personalization & security is always achieved. Finally, standardization of processes & concepts ensues from what is now becoming and evolving as the mainstay of data management – the coveted IDP.
