Everest Group defines Intelligent Document Processing (IDP) as any software product or solution that uses AI technologies such as computer vision, OCR, Natural Language Processing (NLP), and machine/deep learning to capture, categorize, and extract data from documents (e.g., email, text, PDF, and scanned documents) for further processing. These solutions are typically non-invasive and can be integrated with internal applications, systems, and other automation platforms.
They offer platforms that enable enterprises to deploy out-of-the-box solutions using pre-built modules or custom solutions that assist buyers in classifying and extracting data from documents. IDP solutions not only help enterprises achieve cost savings but also enhance workforce productivity and improve employee and customer experience. The demand for unstructured document processing solutions has been increasing due to the growing sophistication of IDP products in terms of capabilities, features, and functionalities.
This report provides IDP buyers, software providers, and third-party enablers (providers and system integrators) a detailed view of the IDP market by analyzing it across various dimensions such as market size and adoption trends, buyer satisfaction, product capabilities and trends, solution characteristics, provider landscape, unstructured document processing, challenges to IDP adoption, and outlook for 2023-24.
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In this report, we examine: