Organizations are increasingly using intelligent document processing tools to optimize their document-centric operations and achieve previously unheard-of levels of accuracy in the fast-paced business environment of today. IDP software applications can automatically extract and analyze data from unstructured documents by using artificial intelligence.
This allows companies to get important insights from their data while also increasing productivity, accuracy, and compliance. After reading this tutorial, you will have the skills necessary to choose the best IDP solution for your company and improve your document management procedures, increasing accuracy and allowing you to extract insightful information from your data.
Top Intelligent Document Processing Tools
1. UiPath
UiPath is an international organization dedicated to using automation and artificial intelligence’s revolutionary powers to unlock people’s boundless potential and advance humankind. By providing a very efficient and intuitive AI-powered business automation platform and intelligent document processing tools, the firm is now expanding its scope beyond robotic process automation.
Its goal is to unite the brightest brains to develop the next significant advancement in automation driven by AI. With its headquarters located in New York City, the corporation has development centers in the US, Romania, India, and Japan.
Features:
- AI/Machine Learning.
- API.
- Abbreviation Detection.
- Access Controls/Permissions.
- Action-Word Testing.
- Alerts/Notifications.
- Approval Process Control.
- Assessment Management.
- Attended Automation.
- Auto Extraction and many more.
Price:
- Automation developer: $420/month.
- Unattended automation: $1,380/month.
- Automation team: $1,930/month.
2. SS&C Blue Prism
SS&C Blue Prism delivers transformative business value by assisting clients in more than 170 countries and 2000 companies, including Fortune 500 and public company sector enterprises, in realizing the promise of intelligent automation at scale. With the use of digital resources, SS&C Blue Prism’s intelligent automation platform collaborates with individuals, groups, and technology to automate whole business processes.
A digital workforce boosts productivity, lowers operational expenses, and frees up millions of hours for employees to concentrate on higher-value tasks. By eliminating manual and monotonous tasks, intelligent automation significantly increases productivity and improves employee happiness while providing opportunities for career advancement.
Features:
- AI/Machine Learning.
- API.
- Access Controls/Permissions.
- Activity Dashboard.
- Activity Tracking.
- Alerts/Notifications.
- Approval Process Control.
- Attended Automation.
- Audit Management.
- Audit Trail and many more.
Price: Contact sales.
3. Nanonets
Workflows for data extraction and document processing are automated by Nanonets, an AI-driven solution. Accounts payable, order processing, and insurance underwriting are examples of document-intensive business operations that may be automated with the use of nanonets.
Invoices, receipts, purchase orders, bank statements, bills of lading, contracts, insurance claims, and medical forms are among the unstructured documents that are among the best intelligent document processing tools that process and transform into structured output that can be fed into downstream systems by utilizing deep learning models and advanced optical character recognition (OCR).
Features:
- Compliance Management.
- Configurable Workflow.
- Customizable Reports.
- Data Aggregation and Publishing.
- Data Capture and Transfer.
- Data Connectors.
- Data Extraction.
- Data Import/Export.
- Data Storage Management.
- Data Transformation.
- Data Verification.
- Document Automation and many more.
Price:
- Starter: $0.30.
- Contact sales for Pro and Enterprise.
4. DataSnipper
DataSnipper is an AI-powered platform that improves the effectiveness and pleasure of the audit process while addressing the underlying causes of auditor fatigue. By integrating automation into Excel, this method makes it simple for auditors to extract data from a variety of documents, including inventory records, bank accounts, and invoices.
With just one click, auditors may create safe audit trails by performing these extractions using simple “snippets,” which are then automatically matched against transactions. Now that tasks that formerly took hours to accomplish can be finished in seconds, auditors are freed from tedious labor and can focus on offering insightful strategic analysis.
DataSnipper revivifies a profession at danger of boredom by promoting a culture of collaboration and vitality by blending in seamlessly with auditors’ current processes and using AI to expand their skills.
Features:
- AI/Machine Learning.
- Audit Management.
- Audit Planning.
- Audit Trail.
- Auto Extraction.
- Bank Reconciliation.
- Batch Processing.
- Billing & Invoicing.
- Cash Management.
- Compliance Management and many more.
Price: Contact DataSnipper for pricing.
5. Rossum
One business that specializes in document-based process optimization is Rossum. Multi-channel document receiving, automatic data interpretation, two-way communication for problem solutions, and data exploitation via broad integrations are among the main topics it covers.
Generally speaking, this intelligent document processing tool’s AI engine outperforms other data extraction tools in terms of accuracy. It guarantees the automation of document-based communication from beginning to end and aims for a 90% improvement in document processing speed for each use case.
Rossum provides a cloud-based platform that handles a document’s whole lifecycle, from receipt to posting on internal IT systems. Additionally, it offers a complete document solution that handles everything from IT and user training to security and compliance. Lastly, it provides enterprise-grade SLAs, round-the-clock support, and high availability.
Features:
- Customizable Fields.
- Data Aggregation and Publishing.
- Data Capture and Transfer.
- Data Connectors.
- Data Extraction.
- Data Import/Export.
- Data Verification.
- Document Classification.
- Document Extraction.
- Document Management and many more.
Price:
- Free plan available.
- For a business plan, contact Rossum.
6. ABBYY FlexiCapture
In more than 200 languages, ABBYY is a multinational corporation that leverages AI innovation and experience to transform data from important business documents and processes into intelligent, actionable outcomes in real time.
ABBYY’s main commercial challenge is turning vast volumes of data into insights that can be put to use. ABBYY helps millions of businesses across the globe accomplish important goals including improving customer satisfaction, increasing operational effectiveness, and obtaining a competitive advantage.
Features:
- Approval Process Control.
- CRF Tracking.
- Data Verification.
- Distributed Capture.
- Document Classification.
- Document Imaging.
- Forms Management.
- Remote Data Capture.
Price:
- Free trial available.
- Pro plan starts from $4,150/user.
7. Automation Anywhere Automation Success Platform
Automation Anywhere’s Automation Success Platform is a unified suite of smart automation tools and applications that help businesses find, automate, and expand their business operations. As part of this, one of the best intelligent document processing tools, they provide a Document Automation solution that streamlines business process automation by using AI to automatically extract information from any business document.
Automation Anywhere’s Document Automation product classifies, extracts, and validates data from documents by fusing AI with RPA. Before going on to the categorization and splitting phase, pre-processing is done to improve the document’s quality.
By dividing multi-page papers, this aids in locating pertinent pages. Then, using cutting-edge technology, specific data is taken from these papers and verified to increase the accuracy of the data. In order to handle more complicated, unstructured document kinds, the solution additionally makes use of GPT-powered connectors.
With its built-in RPA capabilities, the Automation Success Platform efficiently gathers document data at scale and applies it to any workflow. With pre-built parsers for a variety of document kinds, it functions as a comprehensive solution that is readily expandable to any extraction method. Furthermore, it has no-code plugins that guarantee quick document processing by integrating natively with top AI programs and generative AI models.
In conclusion, the Automation Success Platform’s Document Automation technologies provide a strong IDP solution. It can handle unstructured documents like waybills and contracts as well as organized and semi-structured documents like forms and invoices.
Businesses are able to improve customer satisfaction and efficiency as a result. All things considered, we suggest this platform to businesses seeking IDP as a component of a larger process automation platform.
Features:
- AI/Machine Learning.
- API.
- Activity Dashboard.
- Ad hoc Analysis.
- Alerts/Escalation.
- Attended Automation.
- Business Process Automation.
- Code-free Development.
Price: Pro plan starts from $9,000/year.
8. IBM Cloud Pak for Business Automation
A collection of linked software modules called IBM Cloud Pak for corporate automation seeks to improve corporate development via process automation. It comes with an Automation Document Processing solution that eliminates manual document processing by combining AI and low-code tools, and it is designed for all hybrid cloud settings.
Large volumes of unstructured data are processed quickly by automated document processing, which increases productivity and data accuracy by reducing the mistakes that come with human labor. It turns unstructured material into useful data and quickly and precisely extracts data from business documents using AI and deep learning algorithms.
IBM Cloud Pak for Business Automation offers more than just document processing services; it also offers workflow automation, enterprise content management, RPA for scaling business and IT process automation, process mining for data-driven decision-making, and decision management for autonomously developing and overseeing business rules.
All things considered, IBM Cloud Pak for Business Automation is a complete solution for companies trying to save operating expenses while increasing productivity, transparency, reaction speed, and data accuracy.
For companies seeking to integrate document processing into a broader workflow and process automation platform, we suggest Automation Document Processing as a potent IDP solution. Organizations looking for a technology that can swiftly adjust to new document formats and procedures will find it very useful.
Features:
- AI/Machine Learning.
- Activity Dashboard.
- Auto Extraction.
- Business Process Automation.
- Collaboration Tools.
- Data Visualization.
- Document Management.
- Forms Automation.
- Process Modeling & Designing.
- Reporting & Statistics and many more.
Price: Contact IBM for pricing.
The Benefits of Using An IDP System
You may wish to think about putting in place intelligent document processing tools for the following reasons:
Increase data correctness: IDP systems decrease the need for manual data extraction and input by automating data processing and extraction. This lowers the possibility of human mistake and increases data accuracy.
Make smarter judgments: You may make more educated business decisions if you have access to more accurate data.
Boost operational efficiency: Document processing is accelerated by automation; some IDP systems can handle thousands of documents in a matter of minutes. Your staff will have more time to devote to more important and strategic duties as a result.
Cut costs: You may save money on personnel and operating expenditures by having automation do the majority of the job.
Assure compliance: By preserving a high degree of data accuracy and offering an audit trail to boost transparency, an IDP system may assist you in meeting regulatory obligations.
FAQ
Q: Intelligent document processing: how accurate is it?
A: With solutions reaching up to 99% accuracy rates, intelligent document processing is renowned for its high degree of accuracy. This is because many cutting-edge technologies, including machine learning algorithms, OCR, and natural language processing (NLP), are used in tandem to extract and verify data from documents.
Q: What is IDP’s use case?
A: By facilitating the digitalization of patient records, IDP improves accessibility and lowers the risk of data loss while guaranteeing that medical personnel can safely and promptly access patient data when required.
Q: What is the process of intelligent document processing?
A: To read, extract, and arrange data from any document and make it useful for your company, intelligent document processing (IDP) makes use of artificial intelligence (AI) and machine learning. IDP can process material in documents as a person would, regardless of the kind or format of the document (organized, semi-structured, or unstructured).
