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. 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.
Using a five-step approach to adopt and expand IDP solutions, Everest Group’s Intelligent Document Processing Playbook taps various frameworks, such as the Everest Group Pinnacle Model™ and Capability Maturity Model (CMM), to empower enterprises to conceptualize where they want to get with automating data capture, create a business case for adoption, identify capabilities they need to develop to get there, and plot the path for their journeys. It also outlines a framework for enterprises to develop a business case for IDP solution adoption. The Playbook also highlights IDP market characteristics, challenges and best practices for the IDP journey, enterprise case studies, and future outlook.
