Intelligent Document Processing - The New Enterprise Technology Superpower?

Intelligent Document Processing - The New Enterprise Technology Superpower?

Ciarán Daly

May 29, 2019

6 Min Read
A photo of a person at a desk with a pile of papers

NEW YORK - Robotic process automation (RPA) is one of the fastest-growing sectors in business, but it can deliver even more benefit to users with an injection of breakthrough tech.

Enter intelligent document processing (IDP), which uses machine learning (ML) to capture, classify and extract the most difficult to automate data: unstructured. IDP fills the wide capability gap left by rules-based RPA, which pulls and pushes structured data?—?and this capability is finally getting the attention it deserves as an enterprise technology superpower.

Everest Group is among the first firms to map the market and recognize its leaders, and in their latest assessment of the landscape, they have designated WorkFusion a Leader based on Market Impact and Vision & Capability.

We’ve licensed the report?—?Everest Group’s Intelligent Document Processing PEAK Matrix™ 2019?—?which includes the full vendor evaluation of WorkFusion. Download a complimentary licensed copy here.

Read on for highlights of the report and why WorkFusion was spotlighted.

What is intelligent document processing (IDP)?

According to industry research, about 90% of data within any organization is unstructured, and most of it is locked in documents. Everest defines documents as “email, text, PDF and scanned documents”?—?which first-generation, rules-based RPA cannot process. IDP has emerged as a critical capability for large organizations because RPA customers have struggled to scale automation programs, most of which require processing a large volume of documents. With IDP, operations are able to automate data capture, classification and extraction.

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