Five Pitfalls to Avoid When Adopting Intelligent Document Processing (IDP)
Viewpoint

10 Sep 2021
by Anil Vijayan, Ashwin Gopakumar

Enterprise business processes often revolve around document processing, with companies often spending significant manual effort in extracting meaningful information from documents. Manual document processing is not only cost-intensive, but also marked by errors and long turnaround times. Traditional document capture technologies, such as Optical Character Recognition (OCR) and template-based capture solutions, could only solve a part of the problem. With the emergence of Intelligent Document Processing (IDP) solutions, this situation is changing rapidly.

IDP solutions use Artificial Intelligence (AI) technologies to automate document classification and data extraction, and they can handle semi-structured and unstructured documents. Enterprises can thus achieve significant benefits by leveraging IDP, including lower processing costs, faster turnaround times, and higher extraction accuracy rates.

However, while IDP adoption is rapidly increasing due to its numerous benefits and successful pilots, it has its own set of challenges, which enterprises need to be wary of when adopting these solutions. In this study, we discuss five major pitfalls that enterprises should prepare for, for successful IDP adoption.

Scope

All industries and geographies

Contents

In this study, we examine:

  • The Intelligent Automation (IA) ecosystem
  • IDP and its benefits
  • Pitfalls that enterprises should avoid for successful IDP adoption

Membership(s)

Service Optimization Technologies (SOT)

Sourcing and Vendor Management

 

Page Count: 14