Accelerate Growth with Intelligent Automation

By
Anusha Venkatesh
IDP Evangelist

Automated Data Extraction From Documents

Intelligent Document Processing (IDP) automates data extraction from complex, unstructured documents, helping enterprises create a new value proposition for their organizations and customers.

Until now, only humans could process these kinds of documents, costing companies time and money. By removing manual data processing bottlenecks with IDP, enterprises can drive new, transformative business outcomes.

One enterprise client built an entire business model using IDP’s ability to process unstructured receipts.

Another client was able to offer an industry-leading SLA (cost, speed, flexibility) for insurance claims processing resulting in new customer wins and revenue growth.

What other business outcomes can IDP create?

New Ways to Optimize Processes

IDP uses powerful AI technologies to speed up document processing. It also generates significant business impact, boosting scalability, agility, and end-to-end digitization while reducing the staff necessary to process documents.

IDP’s business impact is clear and immediate.

Most clients achieve ROI in just a few months by removing the manual processing bottleneck.

Here are examples of four business outcomes clients have achieved with IDP.

IDP Optimizes Cost

20%-50% reduction in cost per document processed.

IDP saved a financial services company $2.9 million a year by helping the enterprise reduce its manual extraction staffing by 50%. The enterprise initially needed 90 people to manually extract data from complex documents, which cost $5.85 million a year.

IDP Scales Up Capacity

50%-400% capacity improvement.

An engineering firm was able to cut its RFP response time down to a week from three weeks with IDP. The firm was able to process 400% more RFPs with IDP compared to its staff of 80 people reading complex diagrams in documents.

IDP is Fast

50%-75% reduction in process cycle time.

IDP reduced the processing time by 50% for an insurance processing firm with a complicated process for understanding and extracting data from documents. Manually processing documents took 48 hours per document and IDP was able to reduce the total time to less than a few hours.

IDP Increases Revenue

20-80% revenue boost.

An industrial manufacturer increased proposal win rates by 40% with IDP. It had been manually processing 200-page RFPs, but the process was limited by staff speed, accuracy, and capacity. IDP was able to automate that process speeding up RFP responses and capacity.

New Benchmarks for Document Processing

IDP makes your business process fast, agile, scalable, and efficient.

IDP creates a new benchmark for what you can achieve with automation.

This is real value, delivered today.

Frequently asked questions

What is Digital Transformation, and why is it important?

Digital transformation is the initiative where organizations adopt technologies to their fundamental processes to perform better. It helps achieve higher efficiency, productivity, and higher-quality output.

To know more, book a 15-min session with an IDP expert

How does IDP contribute to strengthening cybersecurity?

IDP systems provide robust encryption protocols, multifactor authentication, and access controls to better secure the information contained in digitized documents.

To know more, book a 15-min session with an IDP expert

What are the key innovation drivers supported by IDP?

IDP supports tremendous innovations in data-driven decision-making, deriving value from business documents and agile development.

To know more, book a 15-min session with an IDP expert

How can IDP help organizations eliminate operational inefficiencies?

Businesses can improve operational efficiencies using IDP by automating repetitive tasks, reducing errors, and increasing the processing volume.

To know more, book a 15-min session with an IDP expert

Are there any notable success stories of organizations implementing IDP?

Yes, you can access several success stories of Infrrd IDP on this resource. 98% accuracy in invoice processing and 80% faster processing times are just a few examples.

To know more, book a 15-min session with an IDP expert

What are the potential challenges or considerations when implementing IDP?

One of the major challenges while implementing IDP is the normalization of the new workflows. Personnel training, process enhancements, and full assimilation require time to get fully absorbed by an organization.

To know more, book a 15-min session with an IDP expert

How does your solution handle corrections?

Did you know no system is 100% accurate all the time?  When extraction errors occur you want to correct them.  We provide a simple UI that your business analyst will use to make corrections.

To know more, book a 15-min session with an IDP expert

Does your solution work with handwriting?

Our solution excels at data extraction from handwriting.  We've got proprietary methods and techniques that do the trick.  It's pretty cool.  See for yourself.

To know more, book a 15-min session with an IDP expert