Intelligent Document Processing
Extract information from any business document automatically to enable business process automation.
What is Intelligent Document Processing?
Intelligent Document Processing (IDP) is a software solution that digitizes and releases document-based information for automated processing. IDP solutions work on scanned paper documents, e-mails and attachments, faxes, portal uploads, etc. They save time, effort, and expense by liberating document-based data quickly for use in any business process.
IDP is helpful in multiple business functions across industry sectors. Typical use cases include invoice processing in any industry, claims processing in the insurance industry, or proof of delivery tracking in the logistics sector.
Artificial Intelligence and IDP
IDP understands the type and content of a document by applying Optical Character Recognition (OCR) and AI technologies including Natural Language Processing (NLP) and machine learning.
For example, AI allows IDP to distinguish an incoming document, without human intervention, as an invoice or customer order and to extract information, such as invoice number or customer name.
AI allows intelligent document processing to improve over time. As IDP is exposed to more examples of a document, for example new formats of invoices from a new supplier, it learns to recognize those formats automatically. As a result, accuracy and straight-thru-processing (STP) rates increase over time as AI is applied to make IDP get smarter with as it gains more “experience”.
Lithe Expertise in Intelligent Document Processing
Lithe saves human effort and accelerates business processing by expertly applying IDP to any document-intensive business process in any department.
We implement, configure, and expertly tune IDP technologies to automatically release document-based information for automated business processing. We make every IDP component technology work best in your unique business context.
Capture
Automate the intake of documents from any source
Classification
Recognize documents by type, without human intervention
Extraction
Automate the extraction of critical information necessary to automate processing
Validation
Where AI is uncertain, productively engage human operators to classify documents and extract critical data
Teach AI
Enable your AI-based IDP solution to automatically learn from exceptions and new document formats
Export
Instantly provide documents and extracted data to automated systems and repositories
IDP transforms document-centric work
Higher straight through processing (STP)
Faster customer response
Increased accuracy
Cost savings
Meet Green Goals
Customer Success
Lithe’s experience in development, delivery and support of Intelligent Document Processing (IDP) solutions helps our customers achieve successful digital transformation.
Share your challenges and goals with us and allow our experts to help you automate effectively with IDP.
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BPO exploits IDP to digitize mailroom as 1,000’s switch from paper
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Remote Working
Global insurer arms remote workforce in 1 week with IDP-driven digital mailroom
FAQs
Optical Character Recognition (OCR) and Intelligent Document Processing (IDP) are sometimes 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 uses OCR but has many more capabilities too. For example, IDP uses AI to automatically recognize a document type and extract essential data for use in downstream automated systems.
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.
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