The 4 best reasons how Intelligent Document Processing (IDP) complements EDI
Electronic Data Interchange (EDI) is the electronic exchange of business documents between business partners. However, EDI is characterized by standard formats, which results in high complexity and extensive limitations. Business partners and customers who do not have a direct EDI interface to large companies suffer first and foremost.
1. EDI software is expensive, integration is complex and time-consuming.
2. EDI maintains extremely static standards, which are only reinforced by global, regional, and industry-specific standards.
3. Supply chains are multi-layered, with numerous business partners contributing further.
Intelligent Document Processing (IDP) is extremely attractive here. With IDP, unstructured documents in a wide variety of formats can be processed automatically, even without a direct EDI interface to business partners, and business processes can thus be significantly improved. In the following, we will go into 4 reasons how IDP helps companies that do not have a direct EDI interface.
Process all documents automatically with Intelligent Document Processing even without an EDI interface to business partners.
4 reasons how Intelligent Document Processing (IDP) helps
1. How IDP helps: IDP is flexible, agile and easily scalable
Parashift’s Intelligent Document Processing platform is enormously flexible and easily scalable, in part because of its cloud infrastructure. Unlike the usually very expensive licensing and deployment costs of EDI integrations, the cloud SaaS solution for intelligent document processing is also accessible to SMBs and is worthwhile even for the smallest document volumes.
2. How IDP helps: Universal approach of IDP
Parashift’s IDP platform is a universal and horizontal solution for document capture, classification and extraction. Thus, numerous standard document types can be used out-of-the-box. In parallel, individual document types can be clicked together for the specific use case using drag & drop. This makes the Parashift IDP platform a powerful multi-purpose weapon.
3. How IDP helps: Pre-built integrations for minimal effort
The Parashift IDP platform is built as best-of-breed data capture software for any industry. With numerous existing and maintained integrations to a wide range of third-party systems, the effort required for document extraction of business data is kept to an absolute minimum. Alternatively, Parashift IDP platform can be integrated into any application via a customized and easy-to-understand REST API. A short time-to-value is thus guaranteed in both cases.
4. How IDP helps: Fully validated data stream
Parashift IDP platform optionally delivers fully validated classification and data extraction. This eliminates the need to check data from purchase orders, invoices, order confirmations and delivery bills for correctness. So better to eliminate 100% manual work and enjoy out-of-the-box straight-through processing instead.