Intelligent Document Processing

IDP Helps Businesses That Process High Volumes of Documents

IDP, or Intelligent Document Processing, can be leveraged by many businesses and organizations to streamline their processes to be more efficient. Companies today operate in an information-based economy. Data, information, and knowledge are some of the most important resources they possess. Documents are the life blood of many, if not most, of today’s organizations. And because of this, many businesses need IDP. The quick, accurate, and efficient processing of documents is critical for a company’s well-being. Our customers in the United States are increasingly seeking Valenta for Intelligent Document Processing implementation and Intelligent Document Processing consulting.

Why Use Intelligent Document Processing

Intelligent Document Processing uses artificial intelligence (AI) and machine learning (ML) to extract data and information from various types of documents such as invoices, receipts, contracts, reports, and other forms. IDP can help companies streamline business processes related to all these documents. IDP deployed with RPA is often referred to as Hyper Automation. In combination with RPA, Intelligent Document Processing can be a crucial component of an automation and digital transformation strategy. IDP saves time, reduces errors, and improves productivity, and it is crucial for most automation. Many of Valenta’s US clients leverage IDP to automate repetitive and time-consuming tasks, such as data entry and document sorting. They also implement Intelligent Document Processing to make better-informed decisions based on accurate and relevant data.

Where Intelligent Document Processing Makes Sense

More and more businesses need the ability to process large volumes of data quickly and accurately. It is especially important for companies that deal with a high volume of documents. Banks, insurance companies, other financial services, and healthcare providers are good examples. All can benefit from IDP. Manufacturers, communications companies, retailers, and supply and logistics companies often have needs as well. Intelligent Document Processing can help all these organizations automate the extraction of data from documents and reduce the time, money, and effort required for data entry.

Intelligent Document Processing Advantages

Saving time and money are not the only advantages of Intelligent Document Processing. IDP also reduces the risk of errors. Intelligent Document Processing applications are highly accurate and can identify and extract data with a high degree of precision. IDP software always does things the same way and it can operate around the clock. IDP also helps with Business Intelligence or BI and business analytics. By extracting relevant data from documents, our customers in the US gain smart insights into their business processes. They are able to identify trends, patterns, opportunities, and threats. IDP helps them make informed decisions based on accurate and up-to-date information.

Intelligent Document Processing Uses

Companies can use Intelligent Document Processing in various ways. Time consuming invoice processing is often a way our US clients deploy IDP. Handling purchase orders can also be automated combining IDP with RPA. Contract management is yet another area where automation can help. IDP can be used to extract relevant data from contracts, such as the parties involved, terms, and payment schedules. Any kind of customer database management or entry can also benefit from IDP. Healthcare data management in particular can take advantage of IDP due to the high volume of information to be processed. Intelligent Document Processing is a technology that has numerous benefits for companies of all sizes and industries. By automating document processing and data extraction, IDP streamlines processes, saves time, reduces errors, and improves productivity.

Contact Valenta for Help with Intelligent Document Processing

At Valenta we have Managing Partners located in cities and states across the US. Our Managing Partners are experts in digital transformation and software used for automation like IDP and RPA.

Schedule a free of charge consultation to see if IDP might help your business.

Working with Valenta for Intelligent Document Processing

Large companies have been taking advantage of IDP since it became available.  Midsized companies and small businesses have been slower to deploy Intelligent Document Processing.  For most businesses this is not due to a lack of desire.  Not deploying IDP typically comes down to not having access to the required skill sets.  IDP is a newer technology.  Developers and staff can be hard to find and also be expensive.  Valenta is 100% focused on midsized companies and small business.  We have local Managing Partners in cities and countries across the world.  Our Managing Partners are digital transformation experts.  They work with other local partners and SMEs or subject matter experts plus nearshore and offshore developers to deliver best in class Intelligent Document Processing solutions.  Digital transformation that makes sense for midsized companies is their mission.

Valenta IDP Processes and Methodology

Intelligent Document Processing consulting at Valenta adheres to project management best practices gained over multiple deployments.  Every Valenta IDP engagement follows the Valenta Way process.  Our Managing Partners and the Intelligent Document Processing team they assemble will execute against the below plan.  Intelligent Document Processing implementation is structured and easy with Valenta.

IDP Consulting and IDP Managed Services with Valenta

Valenta provides insightful Intelligent Document Processing consulting on all projects.  We can help clients implement IDP and then manage their own platform.  Valenta can also act as an IDP MSP.  Managed services can be a great way for midsized companies and small businesses to kick start their digital transformation journey.  Managed Services can also get Intelligent Document Processing projects started quickly and effectively.  Whether we are executing an IDP consulting project or launching an IDP managed service we will follow Valenta Way Intelligent Document Processing project planning principles.  Valenta Intelligent Document Processing managed services will typically involve an economical set up fee followed by cost effective monthly rates that have no lock ins. 

There human validation is usually the final check point, and this dependency can reduce over time as more documents and trained and processed by the AI. A combination of NLP, Unsupervised Learning, Deep Learning, ML, Google Vision, OCR are all deployed to produce the best results.

Our approach
Valenta believes in designing, modernizing, and building mission Critical technology systems which most clients depend on every day. We are a focused, independent company, implementing Valenta’s Business-Unit Prototype, we make sure that strategic requirements are covered, and that the solution is built from end-to-end from a chosen business function.

Here are the three simple steps we take for Automation implementations :

End Results
The end results will consist of a centralized team in charge of finding and promoting interesting analysis across the entire organization.

Local teams will be empowered to create and innovate. The centralized team identifies the most successful work being done at a local level and provides a platform to share and promote this work at a corporate level.

Valenta’s Managed Automation service is designed to Measure and Govern automation programs to align with business outcomes. Using a Managed Service not only offers Companies a much faster ROI, but it also enables organizations to repurpose their in-house resources to more revenue driven activities.

Also, the below steps help in providing right analytics capabilities for real-time marketing insights and decision making