Intelligent Document Processing
Maximize the value of RPA with intelligent process automation
What Is Intelligent Document Processing?
Intelligent document processing (IDP) leverages unassisted machine learning and AI to extract data across all types of documents as they enter your organization—making that data usable across your business. IDP streamlines manual processes and eliminates costly steps like document classification, manual data entry, and document analysis.
A critical part of intelligent automation, IDP enhances robotic process automation (RPA) capabilities, helping you maintain control of information with more speed and accuracy, especially in mortgage processing, sales order processing, or invoice processing.
How Does Intelligent Document Processing Work?
Intelligent document processing calls upon unassisted machine learning algorithms that enable automatic self-learning for previously unseen documents. This means IDP learns which document information to capture, getting smarter and more accurate over time. Combining this with a robust classification and categorization engine that leverages AI ensures rapid document processing, enabling you to avoid manual data entry, decrease errors, and easily manage document volume. Intelligent document processing properly channels documents and forms, and allows you to easily output images and data to your ECM or line-of-business application for processing.
Intelligent Automation Makes Sense of All Data Types
Delivering on the promise of digital transformation with an intelligent automation platform requires the ability to harness both structured and unstructured data. But not all data is created the same. Traditional robotic process automation excels at processing structured data, while intelligent document processing tackles unstructured or semi-structured data. Together, RPA and IDP empower organizations to apply the best in intelligent automation to solve some of the biggest document processing challenges in business today.
Structured data is organized, clearly defined, and searchable, but represents only about 20 percent of the data in each company. Robotic process automation (RPA) excels at structured or quantitative data automation.
More than 80 percent of all data within organizations is unstructured. Unstructured data is typically qualitative. It is difficult to interpret and analyze because it has no pre-defined structure.
The Advantage of Unassisted Machine Learning
The key to unleashing the true power of RPA is through unassisted machine learning that can harness both structured or unstructured data. Intelligent document processing automatically learns data fields on forms by using custom machine learning algorithms without endless hours of building templates. This allows for fast setup of previously unseen forms because the system is learning which document information to capture, getting smarter and better over time. Out of the box, organizations see 70 percent automation, and within just weeks of learning, automation is at more than 95 percent.
Solve Critical Challenges with Intelligent Document Processing
Avoid Manual Data Entry Into Systems
Eliminate manual processing into your ECM, ERP, mortgage application, and loan origination system (LOS), including Mortgagebot® and Encompass®.
Decrease Errors and Streamline Access
Reduce delays and errors in processing documents and ensure accuracy even with multiple locations accessing documents.
Easily Manage Document Volume
Eliminate the significant time and effort required for processing forms with automatic data capture and extraction.
Meet Regulatory Compliance
Adhere to ongoing regulatory requirements and create greater transparency in storing and managing documents with compliance controls.
What Business Processes Benefit Most from Intelligent Document Processing?
Sales Order Processing
Key Features of Our Intelligent Document Processing Solution
Intelligent Data Capture
Automate Intelligent Capture, our intelligent document processing solution, helps eliminate labor intensive, error prone, and time-consuming forms processing. By capturing forms as they arrive in your organization from a scanner, email or monitored folder, forms are automatically sorted based on patterns, appearances, and text into specific document classes for extraction.
Artificial Intelligence & Unassisted Machine Learning
Our IDP solution relies on machine learning that ensures continuous self-learning of all types of documents, even those that have not been captured before. Plus our powerful classification and categorization engine leverages artificial intelligence to ensure fast document processing across your organization.
Automatic Data Extraction and Routing
With our solution, you can reduce manual data entry between 60 to 90 percent by automatically extracting relevant data fields based on form type. Data can be extracted from machine printed forms or even barcodes. Route forms electronically with our ability to easily output images and data to the correct applications for processing.