Did you know that the average employee in the United States wastes nearly two-and-a-half hours per day trying to find the information that they need to complete their work1? With workloads increasing in both volume and complexity, it’s more important now than it ever has been to find an effective intelligent document processing platform (IDP) for your company.
But not all document processors that claim to be intelligent are created equal. When you’re shopping around for the best solution for your business, here are 5 key criteria to keep in mind:
- Is the IDP deeply experienced with the types of documents your business handles? Many IDPs claim to work with any document and workflow, but they don’t reveal how much experience the system has with the types of documents involved in your business. You’ll reap the benefits of an IDP faster if it provides libraries of pre-trained models, tools, and calculators that are relevant to your industry, and specific experience with thousands of documents similar to what your employees handle. The IDP that you select for your company should be capable of adapting to your specific document workflows quickly, and this comes from deep domain expertise.
ADEx has processed over 7 million documents and is pre-trained to understand over 2000+ document types and 4000+ data points relevant to the real estate industry. Learn more about ADEx for Business.
- Is the IDP powerful enough to relieve the burden on employees? Many businesses that have tried to implement document automation still require human intervention and manual review and processing because their IDP is not powerful enough to understand documents the way a human does. Keyword extraction alone cannot completely automate document processing for most companies. More powerful IDPs provide deeper understanding of content and language (can the IDP interpret the difference between “right of first refusal” and “right of first offer”?), broader content capabilities (to extract and classify tables and images), and better OCR (handwriting). Greater processing power and accuracy leads to broader, deeper coverage of your organization’s workflows to take more of the manual review and processing off your team’s shoulders.
ADEx’s content-aware document processing engine uses more than keywords and extracted terms to process your documents. Read more about how that will streamline your workflow and make your company more efficient.
- Is the IDP powerful enough to be accurate despite less than standard formats? As you move crucial information from the filing cabinet to the cloud, you need an IDP that can quickly process and retrieve thousands of data points at a time with a high degree of accuracy over as much of your organization’s content as possible. Whether your existing data is structured, semi-structured, or completely unstructured and handwritten, your IDP should be able to effectively read and process all of your documents. Too many businesses are stalled during the IDP setup phase and end up with incomplete document processing or inaccurate data. Ensure that the IDP that you choose for your organization uses AI that can comprehend, process, and organize all types of data.
ADEx’s cognitive document processing is highly capable of interpreting documents that arrive in unstructured, unpredictable formats to automate more of your document workflows. Discover more about how ADEx works.
- Does the IDP support smarter document organization? According to Harte-Hanks, up to 96%2 of office workers report frustration with their company’s information organization system, stating that they would be more productive if they could find what they need more quickly. Your IDP should not only help you process documents and analyze data, but organize information in a system that reflects the many ways employees will need to search for and find documents they need later. IDPs with the ability to provide deeper context awareness can interpret the relationships between documents, regardless of location, file types, and naming conventions. Such systems can automate disparate collections of documents easily, and also classify and tag related documents for easy retrieval no matter where they are actually stored or how they are named.
ADEx’s context-aware capabilities automatically classify and organize documents into Smart Folders, grouping documents based on their relevancy. Now, no employee will need to spend up to 35% of their time searching for the information that they need.
- Can the IDP be fully operational on the docs for your business in just a few weeks? Setting up an IDP for the first time or transitioning to a new platform can be a lengthy process if the system lacks the experience and pre-training that a purpose-built solution offers. Look for solutions that have plenty of experience with the types of documents your company handles and that can learn quickly, with added layers of secondary calculations specifically designed to automate workflows for your industry. If you desire to supplement your existing platform with the unique capabilities of a new IDP platform, make sure that it offers open APIs to make it easy to integrate with your existing systems, enabling data to pass freely without the need for additional human intervention.
With open APIs readily available, ADEx Embedded Solutions can easily fill automation gaps in your existing end systems. Learn more by scheduling a demo today.
When looking to introduce an intelligent document automation and management platform to your organization, you need to be selective. You’re looking to cut waste, save time, and optimize your workflow. And while many platforms can automate data extraction or provide effective document management, ADEx can do both of those things and more. With its powerful AI, ADEx can extensively automate all of your document data extraction, storage, analysis, and organization processes after learning from just a few uploaded documents.
If you’re ready for a powerful, robust, and effective intelligent document processor, get in touch with our team. We’re here to discuss a turnkey solution for you that can deliver fast, better ROI on your document automation and processing efforts.
Source 1: IDC study, published by https://armedia.com/blog/federated-search-the-importance-of-being-able-to-find-information/
Source 2: https://www.simplyproductive.com/2012/03/time-management-statistics/