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.

Scope

All industries and geographies

• The report focuses on IDP and unstructured document processing solutions sold on license, regardless of any ongoing business or IT process outsourcing or managed services
• This assessment is based on Everest Group’s annual RFI process and an ongoing analysis of the market

Contents

In this report, we examine:

• Introduction to IDP
• Outlook for 2023-24
• IDP market characteristics
• Buyer expectations
• IDP product capabilities and trends
• IDP solution characteristics
• IDP provider landscape
• Unstructured document processing
• Challenges to IDP adoption
• Best practices

Membership(s)

Service Optimization Technologies (SOT)

Sourcing and Vendor Management