What is Intelligent Document Processing and How Can it Serve Your Business Goals?

Data is the key element of every company’s workflow. In fact, data is the fundamental way businesses facilitate growth and improve the function of their daily processes. But there is a two-fold problem associated with the management of this key resource. First, there is the question of how to handle the plethora of unstructured data that is locked away in emails, images, and other documents. Plus, companies that handle large amounts of data typically generate reams of paper documents that can be difficult to manage, store, and secure.

Additionally, extracting data, both structured and unstructured, becomes unnecessarily difficult — and potentially error prone — when data are present in paper form. Employees become burned out from data entry, leading to recording errors or worse still, security weaknesses. The solution to all of these problems is deceptively simple — using intelligent document processing (IDP) to analyze, extract, and transform information quickly, safely, and efficiently.

Intelligent Document Processing Benefits

Intelligent document processing (IDP) uses artificial intelligence (AI) technology and tools such as machine learning, natural language processing, and others to create categories and classifications while extracting the data you need from paper and electronic forms. By automating these tasks, an IDP system can help your business save money and time while ensuring data is accurate and compliant. Other benefits of such a system include:

Enhanced Accuracy

Speed and accuracy are both important facets of a streamlined business operation. IDP allows for both by digitally encrypting documents to reduce the possibility of tampering and then automating data extraction to eliminate manual entry errors. With a strong IDP system, employees can spend their time on more mission-critical tasks and be more productive overall, as data retrieval is made faster and easier.

Better Efficiency

An automated process such as that offered by IDP solutions completely negates the need for laborious, time-consuming, and error-prone tasks such as manual entry. Document management tools using IDP can extract, convert, index, and sort data in just seconds, including data embedded in documents such as emails and PDFs. In turn, this function provides a seamless workflow that makes interdepartmental data sharing and execution faster and more efficient.

Targeted Compliance

Because IDP and other document management solutions (DMS) offer a high rate of data accuracy, they are ideal for handling information that is deemed sensitive. IDP tools can automatically detect critical information such as personally identifiable information (PII) or other confidential data that should be secured and protected. Many document management solutions also offer reports and audits that make compliance with data protection and other regulatory requirements simple and straightforward.

Cost Savings

Most importantly, using IDP can help your business get a higher return on investment (ROI) by reducing document processing times, reducing the need for additional labor to perform manual entry tasks, and reduce overall operating costs through enhanced productivity and efficiency. By reducing repetitive tasks and sorting data into easily-retrievable categories, your business can reduce the amount of time — and therefore money — it takes to complete specific processes. Additionally, if you have been employing staff to work on manual entry tasks, you can reduce your workforce or reassign them to tasks that will more directly affect your company’s profitability.

Perry proTECH Has Leading Edge Document Management Tools to Help Curate Your Data

With the economy on shaky ground and disruption still abounding from the recent pandemic, it is more important than ever for businesses to put strategies in place that encourage efficiency and cost-savings. Not only can a robust document management solution help you achieve better outcomes and productivity, but it can also reduce staff frustration by removing the need for tedious manual processes.

At Perry proTECH, our team of document management and IT experts can create custom-designed document management solutions that can expertly target your business needs and goals, while minimizing challenges and offering cost control. From document capture and storage to workflow automation, we have the technologies and inherent knowledge it takes to put together a cost-effective system to streamline your business processes.

Get control of your data this year. Contact a Perry proTECH consultant and learn how our leading-edge document management solutions can help your company be more efficient, effective, and profitable.

2022-12-28T14:26:15-04:00January 2nd, 2023|
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