Software vendors integrate Intelligent Document Processing (IDP) into their software solution to gain critical competitive advantages
Software vendors in the ERP and DMS field take care of data management, but usually do not see their area of responsibility in the document field and specifically not in the input and capture of documents. On one hand, this separation of software vendors is understandable, since document capture and extraction is not their core business. On the other hand, they miss out on new, actually possible revenue streams.
By adding and integrating Intelligent Document Processing (IDP) into their existing software solutions, software vendors can do just that. This allows software vendors to reposition themselves, gain a competitive advantage and open up new revenue streams.
How does IDP help software vendors specifically?
When an enterprise is looking for a new ERP system or DMS today, numerous factors play an important role in the evaluation. In all likelihood, decision makers in enterprises today want to get more in a new ERP system or DMS than just data management. They want powerful automation solutions integrated in a simple and seamless way. The bar for software vendors is therefore enormously high.
Intelligent Document Processing (IDP) helps software vendors, among other things, in a very specific way:
- IDP is fully integrated into software vendors’ own software solution. This means that, except for new and improved features such as automations, end customers do not feel or see anything from the actual IDP solution in the ERP system.
- IDP relieves end customers of manual and repetitive work through document capture, classification and extraction. For example, documents can simply be dragged and dropped into the ERP system. Thanks to IDP, the document is automatically processed or, in the event of discrepancies, the correct steps are automatically suggested to the responsible employee.
- IDP enables software vendors to build new features into their own software solution.
IDP industry-independent – perfect for software vendors
Intelligent Document Processing (IDP) is industry-independent. This makes the IDP solution suitable for software vendors not only for optimizing their invoice OCR, but also for other use cases. The various possibilities that IDP creates can be seen in the following examples, among others:
A) Brokers: Software vendors that build ERP systems for brokers can use IDP to automate the capture and extraction of documents such as insurance policies and benefit statements, and offer this to their customers integrated within the ERP system.
B) Retail, e-commerce: End users are often connected to software vendors’ customers via webshops, making IDP unnecessary. However, this still leaves numerous end clients who, for example, send in PDFs, orders and e-mails. Customers of software vendors therefore want an ERP system that can handle both webshops and the capture and processing of other documents such as PDFs. By integrating powerful IDP, software vendors ensure that this is possible with their software.
C) Logistics: In the logistics industry, software vendors can use IDP to automate customs documents and import certificates, for example, and offer these functions integrated into their ERP system – again without the end customer noticing anything.
Significant competitive advantages for software vendors with IDP
The integration of a future-oriented and powerful document extraction platform such as Intelligent Document Processing brings software vendors unprecedented opportunities in their software solutions:
- Software vendors with powerful IDP in their software solution can clearly differentiate themselves from competitors in the ERP and DMS space.
- For software vendors, new revenue streams are possible with features like IDP, as they can offer this to customers as an additional module.
- IDP gives software vendors the opportunity to reposition themselves – for example, as a slick ERP system or DMS with powerful AI features added.
“Parashift IDP platform, through its integration with alabus solutions, provides us with a simple and consistent solution to automatically capture business documents and avoid media breaks. We are convinced that we will be able to achieve a great added value for our customers.”Uwe Störrlein, Co-CEO alabus AG