The Report from MRFR shows that the market for Intelligent Document Processing (IDP) will continue to grow rapidly in the coming years. This is hardly surprising, as IDP is one of the key components in digitization and the automation of business processes. But how to choose the right, effective and powerful IDP solution for your business?
5 essential (and not conclusive) questions you should ask yourself in advance, which can also serve as a guide.
Question to ask #1
Is the IDP Platform powerful enough?
The IDP Platform must be able to cope with the real and everyday problems of document processing. It needs effective technologies to do so.
- Is the platform powered by high-performance AI technologies so that it automatically learns and improves from the documents it processes?
- Can the platform capture and process both machine-written and handwritten text?
- Can the solution capture and process structured, semi-structured, and even completely unstructured documents; does the solution understand the context in the documents?
- Can the solution handle formats with poor image quality while providing quality enhancement?
Question to ask #2
Can the IDP Platform be easily integrated into existing infrastructure?
The days of taking weeks or even months to set up legacy solutions are counted.
- Will the solution run in a cloud infrastructure?
- Can the platform be easily integrated into existing infrastructures?
- Is the platform compatible with other business tools such as RPA?
- Can the solution be used across all industries?
Question to ask #3
Is the IDP Platform user friendly?
Nowadays, a software solution must be user-friendly. This also applies to the IDP platform.
- Can the platform be used by employees without advanced IT knowledge, is it built according to the no-code principle?
- Has the platform already been tested extensively?
- How user-friendly is the user interface?
- Can new use cases be created on the fly?
Question to ask #4
What is the vision of the IDP solution provider?
One of the most important factors in choosing a modern technology like IDP is to look for a solid solution provider with whom to build a solid partnership for the future.
- What is the vendor’s vision for the future?
- Is there a clear product roadmap?
- Is the platform constantly being improved?
- What is the ecosystem behind the solution?
- What does the support from the solution provider look like?
Question to ask #5
Does the IDP Platform add business value?
In the end, probably the most important question is whether the IDP platform can be used to achieve the intended business goals.
- Can the solution grow with the business, is it easily scalable?
- Can more straight-through processing be achieved with the solution?
- Can productivity be increased with the platform?
- Are end-to-end automations possible with the solution?
Features of a powerful IDP solution
In summary, the features of an effective and powerful IDP platform are the following:
1. Flexible in capturing, classifying and extracting structured and unstructured data from any type of document
2. Cloud-based solution, quickly scalable
3. Easy integration and compatible with existing software
4. Industry-agnostic and user-friendly solution
5. Great and fun people behind the IDP solution, strong and forward-thinking solution provider
Why Parashift’s IDP solution? Because Parashift IDP Platform is different.
Now that you know how to choose the right IDP platform, it’s time to understand how to get started with it
