Five essential things business leaders need to know about IDP in 2021
access_timeOctober 5, 2021 person Philippe Jaggi visibility 178 Views
When it comes to enterprise automation, business leaders are always at the forefront. Since information is the foundation of virtually all business operations, business leaders are paying close attention to automating document-based processes. They depend on intelligent tools for effective solutions. With Intelligent Document Processing (IDP), business leaders have just that.
Intelligent Document Processing (IDP) as a Gamechanger for business leaders
IDP offers numerous benefits for companies and compelling reasons for integration. This article is meant to give business leaders an overview of what they need to know about IDP in 2021.
1. General information about Intelligent Document Processing
2. What are the advantages over status quo?
3. Why the Parashift IDP platform is different
4. Why business leaders want IDP for their employees
5. Other things business leaders need to know about IDP
Intelligent Document Processing (IDP) not only helps business leaders intelligently automate business processes with unstructured documents and reduce the burden on employees, but additionally creates the perfect foundation for a powerful and automated enterprise.
Intelligent Document Processing (IDP) understands the context of data from documents and enables automated processing.
General reasons for integrating IDP:
IDP predestined for unstructured documents: IDP understands context from unstructured data, just as a human does.
IDP as an automation accelerator: IDP captures, classifies and extracts all incoming documents in ways never seen before.
High quality data: IDP provides high quality data for further processing.
High efficiency and accuracy: IDP exhibits high efficiency and accuracy in document extraction thanks to advanced AI technologies.
For more general information on IDP, summarized in a nutshell, read here.
Business leaders must always weigh what a change like IDP can add to the status quo in the company. Where are the risks, where are the benefits?
1. Essential Business Insights – IDP turns unstructured documents into structured data, which can give business leaders essential business insights and competitive advantage.
2. Runs in the Cloud – Instead of relying on outdated on-premises solutions, IDP is run in the cloud as a SaaS solution.
3. Scalability, Flexibility and Agility – Thanks to the cloud solution, IDP is agile, flexible and scalable in an instant.
Parashift’s approach to Intelligent Document Processing is fundamentally different than that of traditional solutions:
Swarm Learning technology: Thanks to innovative Swarm Learning, all learnings and interactions of all documents and users (without revealing the actual data, of course) are used for global AI training.
Easy integration: The Parashift IDP platform can be easily and quickly integrated into existing system landscapes.
Numerous standard document types: Instead of tediously creating templates, numerous standard document types can be easily used out-of-the-box.
Remove employees from tedious work: Business leaders want their employees to do the most value-added work possible – not only for the good of the employees, but of course for the good of the company.
Remove error-prone work from employees: With IDP, employees can be relieved of error-prone work and new time resources can be created.
Encourage thinking: Business leaders want to move their company forward. By integrating IDP and gaining new time resources, employees can promote their way of thinking and contribute their part to a successful business development.
The Parashift IDP platform is based on the “no-code” principle: Employees do not need to be sent to expensive training, nor do business leaders need to use developers or data scientists to use it, thanks to the no-code principle.
Intelligent Document Processing is the effective solution for automated document processing. For business leaders, it’s no longer just about reducing costs and increasing productivity. Rather, they also want to use powerful IDP to get essential business information faster and easier, minimize errors, and future-proof their organization.