Intelligent Document Processing Tool – Investing in Efficiency | Blox3 min read

Intelligent Document Processing Tool – Investing in Efficiency | Blox3 min read

Reading Time: 2 minutes

As organizations look for ways to efficiently extract and analyze information from large volumes of semi and unstructured data, Intelligent Document Processing (IDP) has increasingly become a solution of need rather than a want- in terms of continuously improving operational efficiency. IDP solutions use advanced technologies such as artificial intelligence and machine learning to automate the process of extracting and organizing information from documents, enabling businesses to gain valuable insights and make better business decisions.

The Need for an Intelligent Document Processing Tool

The demand for Intelligent Document processing tools is snowballing in the business world as businesses look for ways to streamline their document processing operations and gain a competitive advantage. The global IDP market is forecasted to achieve a CAGR of over 20% until 2027, driven by the increasing adoption of IDP solutions among businesses of all scales, as per recent studies.

Introducing Blox’s Intelligent Document Processing Tool 

Blox IDP leverages advanced technology such as Natural Language Processing (NLP), Computer Vision (CV), and intelligent Optical Character Recognition (OCR) to efficiently process and extract relevant data from a range of input documents. Its AI-powered system is capable of understanding the problem and context at hand, enabling it to automate and scale the data processing processes effectively. 

Let’s dig a little deeper and understand why businesses should be investing in Blox’s IDP today:

• Pre-processing: Blox IDP conducts a quality check on the documents even before extracting any information from them. This includes quality checks such as blurriness and poor image quality, and document tampering such as font or template change. 
• High accuracy of extraction: Blox IDP uses advanced NLP and intelligent OCR technology to achieve field-level accuracy and confidence scores when extracting information from all types of input documents. With intelligent extraction and field-level accuracy, businesses can trigger actions & take data-driven decisions.
• Handles varied document types: Blox IDP works well with a wide range of different input document types, including scanned documents and digital documents in various formats such as invoices, receipts, contracts, forms, reports, resumes, emails, PDFs, tables, checkboxes etc. 
• Auto-configuration: Choose from several templates available for pre-trained documents. Blox enables automatic configuration of any input document so you don’t have to configure workflows every time. 
• Digital Transformation and Scalability: Blox handles large volumes of documents quickly and efficiently making it easy for businesses to scale- leading to increased efficiency, improved customer and employee experiences, and businesses’ ability to create new revenue streams. 

Blox IDP offers a range of features and capabilities that set it apart from other IDP solutions as mentioned above. These features allow Blox IDP to accurately and efficiently extract and analyze information from various document types, including contracts, invoices, and reports as well as unstructured data sources such as emails, websites, social media, and much more.

Investing in a high-quality IDP solution like Blox IDP is essential for organizations looking to stay competitive in today’s business landscape. With its advanced capabilities and proven track record of success, Blox IDP is the ideal solution for organizations looking to automate their document processing operations and drive business growth. More importantly, if your organization always strategically works out long-term plans, then Blox IDP can future-proof your organization continuously.