Intelligent Document Processing (IDP) or Intelligent Document Extraction and Processing (IDEP) refers to advanced AI-driven technology that automates the reading, extraction, and conversion of unstructured and semi-structured data from various documents into structured formats. By identifying usable data and leveraging it through automated workflows, IDP enables organizations to streamline document-based processes efficiently.
Key Features of IDP:
- Data Extraction – Extracts critical information from diverse document types, including PDFs, invoices, contracts, forms, and emails.
- AI Integration – Utilizes machine learning (ML), natural language processing (NLP), and optical character recognition (OCR) to understand and process document content.
- Automated Processing – Converts data into actionable formats, enabling its integration into enterprise systems and workflows.
- Classification and Validation – Categorizes documents and verifies the accuracy of extracted data to minimize errors.
Applications of IDP:
- Financial Services: Automating invoice processing, loan applications, and claims management.
- Healthcare: Extracting patient data from medical records and forms.
- Legal Industry: Parsing contracts and agreements for key terms and conditions.
- Government: Digitizing and analyzing official documents for compliance and record-keeping.
Relationship with RPA:
IDP is often a complementary technology to Robotic Process Automation (RPA), as it provides the structured data that RPA bots require to execute tasks effectively. For instance, IDP can extract data from forms, which RPA bots can then input into other systems to complete a process.
By automating manual, document-intensive processes, IDP improves operational efficiency, reduces costs, and minimizes errors, making it a valuable tool for modern enterprises.