While the “document processing” part of the term needs no explanation — translating document content into meaningful and actionable insights is what businesses have done for ages, the “intelligent” part makes all the difference. It stands for leveraging technologies, such as optical character recognition and artificial intelligence
, including natural language processing and computer vision, for automating document processing.
What IDP solutions do in particular is they transform unstructured and semi-structured data into the information fit for machine processing, classify and validate this data, and extract insights from it.
Intelligent document processing solutions are particularly relevant for analog, document-heavy industries, like insurance, healthcare, banking, and finance. They typically deal with high volumes of unstructured data, such as invoices, sales orders, and customer correspondence, which are not easily analyzed manually or rule-based automation software.