Digital Transformation: A Deep Dive into Intelligent Document Processing (IDP) Solutions

 


Quadrant Knowledge Solutions defines Intelligent Document Processing (IDP) as the automated extraction of valuable information from a variety of document formats received by organizations. Employing technologies like Artificial Intelligence (AI), Machine Learning (ML), Optical Character Recognition (OCR), Computer Vision, Robotic Process Automation (RPA), Natural Language Technology (NLT), and Intelligent Character Recognition (ICR), IDP interprets and categorizes data from documents such as word files, emails, PDFs, and scanned documents.

This process facilitates analysis and workflow automation without requiring predefined templates, particularly adept at handling unstructured documents. Utilizing a template-free approach and a no-code platform, IDP incorporates human-in-the-loop (HITL) capability for real-time correction and uncovering hidden information. Moreover, it identifies sensitive data fields like personally identifiable information (PII) and employs data masking techniques for redaction or anonymization.

In the realm of automated document processing, Cloud Storage has seen a surge, offering secure data storage and accessibility for processed documents from any location, catering to remote teams and multi-location businesses. Cloud providers offer features such as automated backups and version control, simplifying document management and collaboration.

Download Sample Report Here

Key questions regarding the Intelligent Document Processing (IDP) market:

  • Is the Intelligent Document Processing (IDP) market experiencing growth?
  • What is the short-term and long-term growth potential of the Intelligent Document Processing (IDP) market?
  • What are the primary market accelerators and restraints impacting the global Intelligent Document Processing (IDP) market?
  • Which industries are the major end-users of Intelligent Document Processing (IDP) solutions, and which offer the most growth opportunities?
  • Which global regions present the highest growth opportunities in the Intelligent Document Processing (IDP) market?
  • Which customer segments exhibit the highest adoption rates of Intelligent Document Processing (IDP) solutions?

Click Here for More

Efficient document retrieval is facilitated by swift search functionalities enabled through natural language processing (NLP) and optical character recognition (OCR) technologies. These technologies extract data from documents, allowing for keyword-based search queries, thus expediting and enhancing document retrieval accuracy.

Additionally, vendors providing blockchain integration enhance security by establishing an immutable and decentralized ledger to track the document lifecycle, deterring tampering and unauthorized access while maintaining a transparent audit trail.

Talk To Analyst

Vendors covered in this study:

ABBYY, Alkymi, AntWorks, Appian, Automation Anywhere, Celaton, Code mantra, Datamatics, Edge Verve System, eigen Technology, Grooper (BIS), HCL Technologies, IBM, Indico Data, Infrrd, JIFFY.ai, Knowledge Lake, Kofax, Laiye, Microsoft, OpenBots, Parascript, Parashift, qBotica, Rossum, Stravie, UiPath, UST, and Work fusion.

Comments

Post a Comment

Popular posts from this blog

P&C Core Insurance Platforms and the Insurtech Ecosystem: Enhancing Collaboration and Integration

Image
  Quadrant Knowledge Solutions Announces P&C Core Insurance Platform Market to Achieve a CAGR of 10.60% by 2028. Quadrant Knowledge Solutions defines a P&C Core Insurance Platform (PAS-P&C) as a comprehensive system that enables property and casualty insurers to manage core operational functions such as policy administration, billing, and claims processing for both personal and commercial property and liability coverage. An integrated P&C core suite typically includes a policy management system for overseeing the entire policy administration lifecycle, a billing system for handling the full billing and collection lifecycle, and a claims system for end-to-end processing and management of claims across all personal and commercial lines of business. As the Insurtech ecosystem expands, insurance companies are increasingly adopting open-architecture solutions with robust integration capabilities, incorporating a growing number of Insurtech partners into their workf...
Read more

Behavioral Biometrics: A Game-Changer in Preventing Fraud and Identity Theft

Image
  QKS Group (formerly Quadrant Knowledge Solutions) Reveals that Behavioral Biometrics Market in the USA Expected to Achieve Above-Average CAGR by 2028 The United States is emerging as a key market for Behavioral Biometrics, fueled by growing cybersecurity concerns and the rising demand for advanced authentication solutions. Sectors such as finance, healthcare, and technology are increasingly adopting these technologies to strengthen security frameworks and mitigate evolving cyber threats. Behavioral Biometrics solutions monitor user behavior in real-time to detect anomalies, enhancing authentication accuracy. The market growth is further driven by regulatory mandates and the shift toward remote work, emphasizing the importance of safeguarding digital identities through these solutions. Download Sample Report Here Key Questions Addressed in the Study: ·        What is the current and projected competitive landscape of the Behavioral Biometri...
Read more

Payments Management Systems in Asia Ex Japan & China: Growth Trends and Strategic Opportunities by 2028

Image
  QKS Group Forecasts Above-Average CAGR for Payments Management Systems Market in Asia Excluding Japan and China by 2028 The Payments Management Systems (PMS) market in Asia (excluding Japan and China) is witnessing robust growth, fueled by the region’s accelerated digital transformation across industries. Businesses are increasingly adopting PMS solutions to optimize financial workflows, enhance transaction efficiency, and stay compliant with evolving regulatory landscapes. The shift toward digital and omnichannel business models is further propelling demand for PMS platforms that support secure online payments, real-time transaction visibility, and smooth integration with existing financial ecosystems. The integration of advanced technologies such as blockchain and machine learning is reshaping PMS capabilities—ushering in intelligent features like predictive analytics and enhanced fraud detection. Meanwhile, strategic mergers, acquisitions, and partnerships are actively tr...
Read more