Intelligent document processing – what it is about in details

Some types of software development are defined as a privilege for modern companies. Intelligent document processing by Smart Soft is a proof that such innovations help the development of business in many aspects, but above all to increase the efficiency of the work process, and in parallel with this, the costs of salaries are reduced.

What we need to know about intelligent document processing?

IDP is a flexible way to automate the entire process of extracting key data from documents that are structured, semi-structured or unstructured. More information about the program:

  • it is based on the recently popular artificial intelligence with the help of which high accuracy is achieved and various benefits for the company are observed – AI (artificial intelligence) and NLP (natural language processing) are used to perform intelligent document processing;
  • the development finds application in the extraction of data from different types of documents such as invoices, forms and contracts, and also makes it possible to replace human labor in which errors of a different nature are often made – all these things rank the software as one of the most sought after by accounting firms and by companies that are developing in the field of commerce, restaurants, etc.;
  • intelligent document processing is designed to handle scanned documents, email files and PDF – the main advantage of this modern technology is the ability to detect text characters with a very high degree of accuracy – such an option improves the accuracy of the detected data, which, on the other hand, is a huge plus for companies and their accounting departments;
  • the program finds an ideal application when processing a large volume of documents, the sorting and classification of which would take too much time for employees.

Over time, intelligent document processing is gaining more and more popularity among companies of different scales and with different fields of development.

What are the leading highlights of this software solution?

When we talk about intelligent document processing it is important to mention what are the leading highlights of this type of software. In this case, there are three main components: optical character recognition, machine learning, and natural language processing. Here’s more info on each one individually:

  • (OCR) optical character recognition – with this technology comes to the fore the option to recognize handwritten or printed characters from text when the document is scanned. With the passage of time, development has undergone more and more progress, leading to the ability to recognize characters with extreme accuracy;
  • (ML) machine learning – it is a type of artificial intelligence where machines can improve and learn from data. The algorithms used here are suitable for unstructured documents from which the relevant information is extracted.
  • (NLP) natural language processing – the technology is designed so that they can understand human language so that they can analyze the text part in the document based on the context.

The components of the IDP allow a complete work cycle to be completed so that it is extracted. This is the reason why more and more small and large companies want to integrate this software into their business policy – such improvements produce positive results in terms of employee productivity, labor costs and company image.

What are its biggest advantages?

Document processing often turns out to be a difficult task that employees struggle to cope with. When documents are processed manually, it is very likely to make trivial mistakes, which, however, can be avoided with the help of intelligent document processing. This is one of the biggest advantages of the software, which is increasingly integrated into companies with different fields of activity.

The other advantage of the development is the compatibility with various types of documents – invoices, contracts, forms, e-mail documents and other files, including PDF. Extraction of the target information occurs with a high degree of accuracy, which is not achieved by manual processing. This turns intelligent document processing into a key tool, as it improves organization when working with a large volume of documents.

Final words

Classifying, extracting data, integrating and validating information – all this is now quite possible to happen through an automated process. The main advantages of IDP are improved accuracy, increased efficiency, cost reduction and scalability.

Data extraction will no longer be at the cost of great efforts on the part of employees, who, if previously they were processing documents of a different kind, now they can optimize this entire process with intelligent document processing. This, in turn, leads to a reduction in errors made during manual document processing. From the point of view of company reputation, this is a great opportunity to increase the reputation.

In conclusion, it is good to say that intelligent document processing is a technology that can automate the data processing process, an extract from a specific type of documents. The prospect is that over time the technology will improve significantly which is a huge plus for modern companies.