Everest Group defines Intelligent Document Processing (IDP) as any software product or solution that captures data from documents (e.g., email, text, pdf, and scanned documents), categorizes, and extracts relevant data for further processing using AI technologies such as computer vision, OCR, Natural Language Processing (NLP), and machine / deep learning. These solutions are typically non-invasive and can be integrated with internal applications, systems, and other automation platforms. They find a wide variety of use cases across different business functions and verticals.
Adoption of IDP solutions can not only help enterprises achieve cost savings, but also improve their workforce productivity as well as employee and customer experience. These products are also rapidly evolving with regards to the sophistication of their capabilities, features, and functionalities.
The report covers following sections in detail:
IDP software products that leverage AI / cognitive capabilities and are available for independent licensing were considered for this report. These products are offered as either platforms that allow enterprises to deploy them as out-of-the box solutions using pre-built modules, or custom solutions with the intent of classifying and extracting data from documents.
This report is meant to provide IDP buyers, software vendors, and third-party enablers (service providers, system integrators, etc.) a detailed view of the current state of the market.
Some of the findings in the report are: