In today’s digital world, we have access to almost every piece of data in the world. A lot of this data is unstructured which can make organizing and retrieving very difficult. There are many ways to store this type of data. However not many of these solutions are able to scan the critical content within these documents. That’s where intelligent document processing comes into play. Intelligent document processing makes it easier to bring several sources of data together in a meaningful way.
How Does it Work?
Intelligent document processing combines Optical Character Recognition and Natural Language Processing to scan many sources of information both unstructured and structured formats like images, photos, PDF, spreadsheets and more.
Machine Learning and Artificial Intelligence are then used to make sense of this data, pull key insights and categorize it in a more useful way.
What Is the Benefit of IDP?
With AWS Intelligent Document Process, data analysis is a breeze because you use software to analyze documents. Some benefits of this process include:
Reduce the Cost of IDP
Intelligent document processing reduces the cost of document processing because its features include optical character recognition and barcode scanning. This feature makes it possible to scan many documents without spending as much time manually entering them.
Increase the Speed of IDP
Intelligent document processing is a time-saving and cost-effective solution to process large volumes of documents rapidly. By leveraging the power of artificial intelligence (AI), it allows you to work faster, be more efficient and make better decisions.
Increase the Quality and Security of Your Data
Intelligent document processing enables you to make better decisions. By assessing the quality of your data, intelligent document processing helps increase the likelihood that it will be used to make accurate and timely decisions. It further enhances the security of your data by adding a layer of control through which only trusted processes can access specific records.
Use Cases for IDP
Intelligent document processing is a very versatile technology and can be used for many different purposes. Below are examples of intelligent document processing use cases.
- Human resources: AI document processing helps human resources by automating high-volume and routine processes, such as candidate screening, hiring and onboarding, performance management, and compensation planning.
- It also simplifies document review for legal teams.
- Finance: Finance departments are busy with document processing. They need to provide invoices and other documents to external customers, keep track of internal users’ payment records, and ensure that everything in their systems is up-to-date.
So, what is intelligent document processing? It’s a way to organize all of your data into a way that will help you make effective decisions on processes and growth.