by
May 30, 2023
In this article, we will explore the top 20 use cases of Intelligent Document Processing and how it is transforming the way organizations manage their documents and processes.
Intelligent Document Processing (IDP) is a rapidly growing technology that uses machine learning and artificial intelligence to automate document-based workflows. It helps organizations streamline their operations by digitizing paper-based documents, extracting data, and automating routine tasks. IDP has found applications in various industries, from healthcare and finance to legal and government.
1. BFSI - Loan Processing: Loan processing is a time-consuming and error-prone task, involving a large number of documents, such as loan applications, credit reports, and financial statements. IDP can help automate this process by extracting data from these documents, verifying the information, and entering it into the loan processing system. This can help reduce manual processing time and minimize errors, improving the speed and accuracy of loan processing.
2. Healthcare - Medical Billing: Medical billing involves a complex process of submitting and processing claims, verifying insurance coverage, and processing payments. IDP can help automate this process by extracting information from medical bills and claims, verifying insurance coverage, and processing payments. This can improve the accuracy of billing and reduce the time it takes to process claims, enabling healthcare providers to focus more on patient care.
Read more: OCR vs IDP: Which one should you choose?
3. Travel and Tourism - Invoice Processing: Travel and tourism companies deal with a large number of invoices, receipts, and travel expenses. IDP can help automate the processing of these documents by extracting relevant information and entering it into the accounting system. This can improve the accuracy of data extraction and reduce processing time, enabling travel and tourism companies to focus more on delivering exceptional customer service.
4. Hospitality - Customer Service: The hospitality industry is all about delivering exceptional customer service. IDP can assist customer service representatives by automatically retrieving relevant customer data from past interactions, such as hotel bookings, restaurant reservations, and room preferences. This can enable customer service representatives to provide faster, more personalized support, enhancing the overall customer experience.
5. IT/ITES - Contract Management: Contract management involves the tracking of key dates, milestones, and obligations, as well as the extraction of relevant data from contracts. IDP can help automate this process by extracting data from contracts, tracking key dates, and alerting stakeholders when action is required. This can help reduce the risk of non-compliance and improve the overall efficiency of contract management.
6. Automobile - Warranty Claims: Warranty claims processing involves a large number of documents, including repair orders, invoices, and warranty policies. IDP can help automate this process by extracting information from these documents, verifying the information, and entering it into the warranty claims system. This can help reduce manual processing time and minimize errors, improving the speed and accuracy of warranty claims processing.
Learn more: Why food service industry needs intelligent document processing solution?
7. Manufacturing - Quality Control: Quality control is a critical process in manufacturing, involving the inspection of products, the tracking of test results, and the monitoring of production processes. IDP can assist in quality control by automatically capturing data from inspection reports, product specifications, and test results, enabling manufacturers to identify and address quality issues more quickly and efficiently.
8. Real Estate - Lease Management: Lease management involves the tracking of lease agreements, key dates, and obligations. IDP can help automate this process by extracting data from lease agreements, tracking key dates, and generating alerts when action is required. This can help reduce the risk of non-compliance and improve the overall efficiency of lease management.
9. Consumer Goods - Order Processing: Order processing involves a large number of documents, including purchase orders, invoices, and shipping documents. IDP can help automate the processing of these documents by extracting relevant information and entering it into the order processing system. This can improve the accuracy of data extraction and reduce processing time, enabling consumer goods companies to focus more on delivering high-quality products and services.
10. Education - Student Record Management: Student record management involves the capture and management of a large number of documents, such as transcripts, grade reports, and other records. IDP can help automate this process by capturing data from these documents, verifying the information, and entering it into the student record system. This can help reduce manual processing time and improve overall development of the organization.
11. BFSI - Know Your Customer (KYC) Compliance: KYC compliance involves the verification of customer identities, which typically involves a large number of documents, such as passports, driving licenses, and utility bills. IDP can help automate this process by extracting data from these documents and verifying it against databases of known customers. This can improve the accuracy of customer verification and reduce the time it takes to complete the process.
12. Healthcare - Electronic Health Records (EHRs): EHRs involve the capture and management of patient data, including medical histories, test results, and prescription records. IDP can assist in this process by automatically capturing data from these documents and entering it into the EHR system. This can improve the accuracy of data capture and reduce manual processing time, enabling healthcare providers to focus more on patient care.
13. Travel and Tourism - Travel Insurance Claims: Travel insurance claims involve a complex process of submitting and processing claims, verifying policy coverage, and processing payments. IDP can help automate this process by extracting information from travel insurance claims, verifying policy coverage, and processing payments. This can improve the accuracy of claims processing and reduce the time it takes to process claims, enabling travel and tourism companies to focus more on delivering exceptional customer service.
14. Hospitality - Revenue Management: Revenue management involves the analysis of data from multiple sources, such as occupancy rates, pricing, and customer reviews. IDP can assist in this process by automatically capturing data from these sources and entering it into revenue management systems. This can improve the accuracy of data analysis and reduce manual processing time, enabling hospitality companies to optimize revenue streams and enhance profitability.
15. IT/ITES - Employee Onboarding: Employee onboarding involves the capture and management of a large number of documents, such as resumes, employment contracts, and tax forms. IDP can help automate this process by capturing data from these documents, verifying the information, and entering it into the employee onboarding system. This can improve the accuracy of data capture and reduce manual processing time, enabling IT/ITES companies to focus more on employee engagement and development.
16. Automobile - Parts Inventory Management: Parts inventory management involves the tracking of inventory levels, reorder points, and supplier information. IDP can assist in this process by automatically capturing data from purchase orders, invoices, and other documents, enabling automobile companies to optimize inventory levels and minimize supply chain disruptions.
17. Manufacturing - Supply Chain Management: Supply chain management involves the tracking of orders, inventory levels, and supplier performance. IDP can help automate this process by capturing data from purchase orders, invoices, and other documents, enabling manufacturers to optimize supply chain performance and minimize disruptions.
18. Real Estate - Property Management: Property management involves the tracking of tenant information, lease agreements, and maintenance requests. IDP can help automate this process by capturing data from these documents, verifying the information, and entering it into the property management system. This can improve the accuracy of data capture and reduce manual processing time, enabling real estate companies to focus more on tenant satisfaction and retention.
19. Consumer Goods - Sales Order Management: Sales order management involves the tracking of sales orders, inventory levels, and shipping information. IDP can assist in this process by capturing data from sales orders, invoices, and other documents, enabling consumer goods companies to optimize order processing and fulfillment.
20. Education - Administrative Document Management: Administrative document management involves the capture and management of a large number of documents, such as enrollment forms, transcripts, and financial aid applications. IDP can help automate this process by capturing data from these documents, verifying the information, and entering it into the administrative system. This can improve the accuracy of data capture and reduce manual processing time, enabling educational institutions to focus on other important tasks.
Intelligent Document Processing (IDP) is a powerful tool that can help organizations across various industries automate their document processing tasks and streamline their operations. The use cases of IDP discussed above illustrate how it can be leveraged to improve processes such as data capture, verification, analysis, and management, resulting in increased accuracy, reduced manual processing time, and improved operational efficiency.
Whether it is in BFSI, healthcare, travel and tourism, hospitality, IT/ITES, automobile, manufacturing, real estate, consumer goods, or education, IDP has the potential to transform the way organizations handle their documents and data, allowing them to focus on their core business functions and deliver exceptional value to their customers.
IDP can help automate the capture and management of patient data, including medical histories, test results, and prescription records, improving the accuracy of data capture and reducing manual processing time, allowing healthcare providers to focus more on patient care.
By capturing data from purchase orders, invoices, and other documents, IDP can help automobile companies optimize inventory levels, minimize supply chain disruptions, and improve supply chain performance.
Yes, IDP can be used to automate administrative document management tasks, such as capturing data from enrollment forms, transcripts, and financial aid applications, improving the accuracy of data capture and reducing manual processing time, allowing educational institutions to focus more on student engagement and development.
AmyGB.ai is an AI research company that builds Intelligent Document Processing software to solve real world problems using advanced technology such as Computer Vision, Machine Learning and Natural Language Processing. Using proprietary AI technology with zero third-party dependency, AmyGB.ai’s products are set to revolutionize document heavy business processes by streamlining multiple channels so as to deliver end-to-end process automation. They aim to move towards a paper free, efficient and intelligent process. In addition, whether you're looking for a custom AI IDP application or seeking to integrate IDP solutions into your existing systems, AmyGB.ai has the experience and expertise to help you achieve your goals.