IDP Intelligent Document Processing (IDP) and Benefits of Using It
Intelligent Document Processing or IDP helps business firms gain easy access to important data. It extracts important information from different data sources like business documents, images, PDF documents and mails, and converts it into useable data. It utilizes AI (Artificial Intelligence) technologies such as Natural Learning Process (NLP), deep learning, computer vision, and machine language for this purpose. It helps businesses to maintain vital data with high quality and accuracy.
Step 1: Classification
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In this primary step, it classifies the given data according to its format using OCR technology. It helps to recognize characters and symbols. It also scans images and photographs. ICR technology is suitable for classification as it has the ability to scan bar codes.
Step 2: Data Extraction
Steps involved in IDP
In this process, the important data is extracted from the available data and entered into the appropriate database. The application tool suitable for this procedure is REGEX.
Step 3: Data Validation Here, inaccuracies are identified using validation rules, and corrected. This is a crucial step when it comes to ensuring actionable data.
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Step 4: Human Review Human intervention to cross check the processed data if the document is flagged as red. It helps to improve accuracy and reliability.
Step 5: Release
Steps involved in IDP
In this step, the data is exported to the business processes automatically
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Fully automated Improves quality Improves security and compliance Improves efficiency
Benefits of IDP
Budget-friendly Speedy data processing Customer satisfaction Ability to read barcodes
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Lending Insurance Logistics
Industrial Usage of IDP
Real estate Accounts
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