As the pace of digital transformation accelerates, the Intelligent Document Processing (IDP) market is ramping up. Here’s a snapshot of IDP―what it is and why it matters. Credit: skynesher A recent MarketsandMarkets study expects the global Intelligent Document Processing (IDP) market to grow at a compound annual gross increased rate (CAGR) of 37.5% from 2022 to 2027. This growth is being driven by the pressing need for organizations to process large volumes of semi-structured and unstructured documents, store them and access them securely, and make them available for advanced analytics. Today, this workflow is part of a company’s operational heart. How enterprises handle document processing using IDP solutions is a showcase for how this technology category is an important enabler of faster operations, innovation, and competitiveness. What is Intelligent Document Processing? IDP is the use of artificial intelligence (AI) and machine learning (ML) technologies to automate the processing of unstructured data contained in documents. IDP systems are designed to extract, classify, enrich, structure, and search relevant information from documents like invoices, forms, contracts, orders, receipts, and customer and employee emails. Traditional document processing often involves manual data entry and extraction, which is time-consuming, error-prone, and inefficient. IDP automates these […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
