Most businesses today spend millions of dollars each year managing and processing their data. Companies are often sitting on a goldmine of information with little way to process it and access the wealth of insights it has to offer.
Intelligent document processing gives these companies a way to streamline various operations and cut costs on manual projects involving data retrieval and document storage.
Read on to learn more about AI document processing, some of its many uses, and the potential benefits of these technologies for your business operations in a digital age.
Capabilities of Intelligent Document Processing
Intelligent document processing is a method of automating various data management tasks, such as document scanning and information extraction, using AI assistive technologies.
This next generation of automation provides a more accurate way of digitizing data than historically used with methods like optical character recognition technology on its own. The latest in AI technology combines multiple technologies, extracting relevant information from documents and images in a much more efficient way than previous iterations.
With intelligent document scanning and processing, data enters the system from a variety of sources, including email, Word, Excel, PDF, and even JPG. This data is then categorized and processed into a reliable and accurate record for your business that can be intelligently accessed and searched at any time.
These new processes save businesses both time and money, making end-to-end automation possible and attainable for more organizations than ever before.
AI document processing helps businesses scale large projects that would otherwise be impossible to achieve or too expensive to afford. These processes can transform the way businesses manage their information and improve overall workforce efficiency.
The goal of all of these solutions is to help companies achieve a smooth transition into the digital space.
Uses of Intelligent Document Processing
There are many applications for automation technologies beyond just basic data management. It is not enough to simply extract data automatically. It must be processed efficiently and stored accurately.
Some of the many uses for intelligent document processing include:
Streamlining Supply Chain Operations
AI operations can improve business workflows through the automation of tasks such as barcode processing, invoice processing, order fulfillment, and accounting.
Digitizing Paper Documents
Intelligent document scanning converts hard copy files into searchable text for maximum efficiency as well as increased data security, retention, and access.
Assembling Documents
Through the use of templates and automation, intelligent document creation can be used to simplify the creation of everything from reports to legal documents.
Information Extraction
Seamlessly access the information you need from your documents with AI document processing.
Deciphering Complex Characters
Intelligent document processing can be used to identify glyphs and other textual elements that require advanced character recognition.
Data Management
Manage your documents with an organized database or archive of data conveniently stored at your fingertips just a few clicks away.
Benefits of Intelligent Document Processing
Intelligent document processing improves productivity, increases security and compliance, offers superior accuracy, reduces costs, and allows for full business automation. Utilizing AI document processing allows organizations to break complex operations down to simple tasks and usable data.
There are many benefits to applying the use of AI technologies to your data and documentation.
For example, document scanning and conversion provide your organization with ongoing access to accurate and reliable data, as well as the ability to share and collaborate with that information.
Intelligent document processing gives companies access to the volume of data found within an organization’s various files, emails, and other documents. Without AI document processing, much of this valuable information would be otherwise lost to the insurmountable task of tedious manual processes.
Through task automation, businesses can benefit from improved workflows and increased efficiency, freeing up valuable resources for other more important tasks requiring human oversight.
ILM’s Intelligent Document Processing Services
At ILM, we offer a full suite of document management services designed to help clients transform cumbersome paper documentation into digital data. With more than 40 years of experience in creating custom data processing services for businesses of all sizes, ILM specializes in data capture, data entry, digital imaging, document scanning, and much more.
Click below to learn more about just some of the many benefits of intelligent document processing for your business or organization.
