2021-08-30T15:01:00Z

Intelligent Document Processing - The Missing Link Towards End-to-end Automation

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Search for a product comparison in Intelligent Document Processing (IDP)
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Find out what your peers are saying about ABBYY, Automation Anywhere, UiPath and others in Intelligent Document Processing (IDP). Updated: March 2024.
765,234 professionals have used our research since 2012.
Related Questions
NC
May 10, 2022
May 10, 2022
An intelligent document processing solution is a form of intelligent automation that uses data science to enhance human understanding of unstructured data. IDP solutions convert both unstructured and semi-structured information from documents such as emails and images into structured, usable information. In turn, IDP solutions help businesses across all industries better manage documents, strea...
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Janet Staver - PeerSpot reviewer
May 10, 2022
An intelligent document processing solution is a form of intelligent automation that uses data science to enhance human understanding of unstructured data. IDP solutions convert both unstructured and semi-structured information from documents such as emails and images into structured, usable information. In turn, IDP solutions help businesses across all industries better manage documents, streamline their business processes, and improve their workflows. In addition, they help organizations meet compliance standards and reduce errors. They can often be used instead of expensive, difficult-to-manage database systems, helping your organization save money. There are several advantages of using an IDP solution that can benefit both your organization as well as your employees. They help you incorporate data into workflow processes in a fast and easy way. The fact that you can speed up your processes is a huge plus, since handling large quantities of data can be very time-consuming for your employees. With reduced processing times, you also eliminate the need to hire as many employees, or you can assign those employees to higher-priority tasks where needed. Because IDP solutions eliminate manual processes in the workplace, it allows employees to use their expertise to offer a better customer experience and stop wasting time on document management. Subsequently, when customers have a better experience, it opens up other opportunities for your business. In addition, IDP solutions can increase customer satisfaction by reducing turnaround times. And by eliminating the need for manual work and data entry, IDP solutions can also massively reduce the risk of human error. Consequently, because IDP solutions can automate tasks and reduce the risk of human error, it also means they can help businesses to be more compliant. Using IDP solutions make compliance much simpler because there is always a digital trail, which can be used when auditing and ensuring compliance with data protection regulations. Not only do IDP solutions help your organization use time more efficiently, but because they can transform physical documents into editable digital versions in a matter of seconds, they help boost productivity and ensure accuracy. To top that, when IDP solutions help your business convert paper-based documents into a digital format, it puts your organization ahead of your competition. DP tools can help save on other operational costs, as well. You will see a better and faster return on investment (ROI) than with other software or with human employees. Another important benefit of IDP solutions is that they can be applied to multiple applications. IDP is easily scalable and can help automate several important processes across your organization. The good thing about it is that it does not require installation and instead serves as a platform that can interpret several different types of documents, regardless of their source or size, without needing to install different software or set rules. Lastly, IDP solutions are easy to integrate with your existing software and hardware. Because you can implement them with your existing tech stack, you do not need to spend money on new devices or technology to make them work. This makes the implementation of IDP solutions much easier, simpler, and more cost-effective.
NC
May 12, 2022
May 12, 2022
Out of all the intelligent document processing (IDP) solutions, I would rank ABBYY FlexiCapture and HyperScience to be the best. For starters, ABBYY FlexiCapture is very powerful. The solution can successfully capture every type of document, from simple forms to complex free-form documents, with accuracy. For organizations that want to focus on customer service, compliance, and achieving compe...
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Janet Staver - PeerSpot reviewer
May 10, 2022
Out of all the intelligent document processing (IDP) solutions, I would rank ABBYY FlexiCapture and HyperScience to be the best. For starters, ABBYY FlexiCapture is very powerful. The solution can successfully capture every type of document, from simple forms to complex free-form documents, with accuracy. For organizations that want to focus on customer service, compliance, and achieving competitive advantage, I highly recommend ABBYY FlexiCapture. The solution can automatically capture data from paper-based or legacy systems to automate business applications such as RPA and BPM. Whatmore is, the system can identify, validate, and automatically process critical data fields. Basically, the system can be easily trained and uses machine learning for continuous process improvements. The features I like most about ABBYY FlexiCapture are its CRF tracking, data verification, and distributed capture. In addition, I find that I often use its document classification, its document imaging capabilities, its forms management, and the remote data capture feature. One downside that I will mention, however, is that the system can be tedious to configure. It currently includes many automations based on machine learning to recognize documents, and configuring them requires expertise and patience. If you are looking for something different from ABBYY FlexiCapture, I think HyperScience is a good alternative. It is primarily designed to automate and streamline your workflows. And because it’s configurable, you can use it today and upgrade to a more sophisticated system for extracting data from unstructured documents in the future. The solution is unique because it is one of the rare models with a fully customizable accuracy threshold, built-in quality assurance and performance monitoring, and built-in analytics tools that provide a holistic view of human as well as machine performance. Furthermore, Hyperscience’s AI-based solution can extract data from paper documents and handwritten notes. It automates and standardizes the identification, extraction, and recognition of text in documents of all formats - from PDFs to purchase orders, invoices, email correspondence, and checks. Essentially, Hyperscience turns your information into structured data that you can use to automate customer service and improve your business workflows. Some of its best features include the machine learning platform, which is able to classify a variety of document types, such as invoices, checks, forms, and so on, automatically. And the fact that the solution processes structured data files, thereby aiding companies in lessening manual effort and time taken to complete tasks, has proven to be extremely helpful. I also like that Its handwriting OCR capability is advanced, and is therefore able to achieve a number of tasks. I find the interface to be easy to use and like the front-end usability, as well. The only downsides I have experienced using Hyperscience is that it is limited to configuring a maximum of 400 PDF documents and there is a lack of customer support with the newer releases. Overall, my experience with both solutions has been positive. I think both solutions have a lot to offer, and which one you ultimately choose will come down to your organization’s specific needs and requirements.
Srinivas Marneni - PeerSpot reviewer
May 12, 2022
See, first, it depends on your documents, like structured, unstructured or Handwritten type, etc. 1) ABBYY Flexi Capture - A complete solution for any type of document. It will extract data anywhere on-page/document, ABBYY Using Machine Learning feature to Classify documents and ABBYY FLEXI LAYOUT tool was great markup tool for creating complex layouts... but you need to learn it step-by-step (a free course is available). 2) UiPath - Document Understanding with AI-Powered - end-to-end document understanding template is also available with all exception rules. This is Current trending for IDP - I have hands-on experience. 3) IQ Bot - Automation Anywhere - I have basic experience.
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