Intelligent document processing use cases: An industry guide With faster turnaround times, increased accuracy, reduced manual tasks, and time savings, intelligent document processing is essential for any industry.

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

Copyright 2023 Rossum, Ltd.

Table of contents

• What is IDP and how has it changed?

• IDP in business

• IDP use cases by industry

• Intelligent document processing can benefit all industries

Copyright 2023 Rossum, Ltd.

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/ https://rossum.ai/blog/ocr-and-ai-how-modern-automated-processing-works/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Copyright 2023 Rossum, Ltd.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/blog/what-is-ocr-technology/ https://rossum.ai/blog/machine-learning-explained/ https://rossum.ai/blog/ai-explained/ https://rossum.ai/blog/best-data-extraction-tools/

Copyright 2023 Rossum, Ltd.

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

Invoice Processing Steps Manual vs. Digital

Manual Automated

• Invoice arrives via email

• Invoice data entered into AP system

• Invoice sent for approval

• Reviewer analyzes & matches invoice with purchase order

• Invoice checked for errors & duplications

• Any issues, AP team contacts supplier to verify invoice information

• Following vertification, invoice is manually passed for approval

• Invoice approved

• Payment is made

• Invoice data is captured

• Automated 3-way matching

• Software sends invoice to approver

• Invoice approved

• Payment is made

• Invoice archived and automatically transferred to ERP system

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/customer-stories/master-trust-bank-of-japan/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Copyright 2023 Rossum, Ltd.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/customer-stories/fakturdigital/ https://rossum.ai/customer-stories/landsec/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

Copyright 2023 Rossum, Ltd.

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://www.globenewswire.com/news-release/2022/09/06/2510522/0/en/The-global-Intelligent-Document-Processing-market-size-is-expected-to-grow-to-USD-5-2-billion-in-2027-from-USD-1-1-billion-in-2022-at-a-Compound-Annual-Growth-Rate-CAGR-of-37-5.html#:~:text=filingsmedia%20partners-,The%20global%20Intelligent%20Document%20Processing%20market%20size%20is%20expected%20to,Rate%20(CAGR)%20of%2037.5%25 https://rossum.ai/blog/rossum-is-soc-2-type-ii-certified/ https://rossum.ai/solutions/business-services-bpos/ https://rossum.ai/blog/idp-strategy/ https://rossum.ai/blog/idp-strategy/ https://rossum.ai/blog/do-companies-still-use-manual-data-entry/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Copyright 2023 Rossum, Ltd.

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/solutions/accounts-payable/ https://rossum.ai/solutions/financial-services/ https://www.tonerbuzz.com/blog/which-industries-print-the-most/ https://www.tonerbuzz.com/blog/which-industries-print-the-most/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

Copyright 2023 Rossum, Ltd.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Copyright 2023 Rossum, Ltd.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

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Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Copyright 2023 Rossum, Ltd.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/solutions/logistics-transportation/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Copyright 2023 Rossum, Ltd.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/solutions/manufacturing/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

Copyright 2023 Rossum, Ltd.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/customer-stories/evologics/ https://rossum.ai/solutions/retail/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Copyright 2023 Rossum, Ltd.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

Copyright 2023 Rossum, Ltd.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/solutions/technology/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

Copyright 2023 Rossum, Ltd.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/solutions/healthcare/ https://rossum.ai/blog/how-to-automate-healthcare-documentation-with-idp/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

Copyright 2023 Rossum, Ltd.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/blog/how-automated-insurance-solutions-can-help-your-company/ https://rossum.ai/blog/invoice-processing-automation-guide/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

Copyright 2023 Rossum, Ltd.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

https://rossum.ai/solutions/insurance/ https://rossum.ai/

Businesses are spinning plates, desperately hoping that none crash to the floor. From customer support to strategic business planning, sales and marketing to product development, it’s easy to feel like you’re running out of time and energy. Add to this the endless amount of paperwork, which is both tedious and time-consuming, and you’re close to burn out.

Thankfully, handling business documents and communications with automated workflows is possible with intelligent document processing (IDP) solutions.

An AI-powered document processing platform will help you quickly and accurately process documents, regardless of industry, format, or use case. It’ll set the standard for quality control throughout your organization, helping streamline communication, simplify processes, and get the right information to the right downstream systems accurately and on time.

Read our guide to understand better how an AI-powered IDP solution works. And about the advances and technologies these systems have implemented over the years.

What is IDP and how has it changed?

Before we dig deep into how industries use IDP, we need to ask ourselves, “What is intelligent document processing?”

IDP is a technology that allows businesses to automatically extract data from structured and unstructured documents. Saving them time, money, and resources. IDP has revolutionized how businesses complete tasks and maintain information integrity throughout their organizations.

There are several methods used in an IDP solution, either separately or in harmony with one another, including…

Optical Character Recognition - OCR

In the early days of IDP, organizations adopted optical character recognition solutions to scan documents and turn content into machine-encoded text. Paper documents were processed by OCR, which scanned and digitized the documents for storage and backup purposes.

Metadata was assigned to the documents, allowing users to find and organize them in separate libraries. While OCR is certainly faster than manually collecting and inputting data into a digital format, it isn’t fully automated. With template-based OCR solutions, users must laboriously reformat documents into the correct template or create new templates, all while correcting mistakes, misinterpretations, and any other exceptions the OCR rejected.

So slow. So much possibility for error.

Intelligent document processing PDFs is a frictionless and error-free process that frees you and your team up to work on strategic initiatives for competitive business growth.

IDP is a game changer for HR departments. Aside from the fact that employee satisfaction increases when they no longer have to spend their days on mind-numbingly boring tasks, using automated document processing in HR means you’ll be able to process applications and come to a decision faster. Your hiring procedure will be smoother, so you can leave candidates with a positive experience.

Additional benefits include…

Employee and customer satisfaction

Master Trust Bank of Japan had 40 team members to manually enter data for further processing, with each document taking up to 1.5 hours to process. Language limitations meant most of the work landed with a few key employees.

The variability of the documents also led to the team having to create new templates for each new style of document.

Robotic Process Automation - RPA

Robotic process automation was used alongside OCR technology as a productivity tool that automates high volume routine tasks. It takes manual labor away from employees, freeing them up to perform more complex tasks. But it doesn’t solve the problem of accuracy or the need for human review and verification of some documents.

Machine Learning - ML - and Artificial Intelligence - AI

With the advent of machine learning and artificial intelligence solutions, today’s advanced IDP solutions are more accurate and can be fully automated.

For example, Rossum brings machine learning, computer vision, natural language processing, and robotic process automation to the table.

The software can automatically recognize the context within documents and learns as it ingests more information, therefore growing more accurate and capable over time. Rossum can read and understand data from documents, no matter their format, helping to ease the burden of manual verification that has plagued the IDP industry. And eliminating the need to create multiple templates to understand different document styles. Our platform can also bring value in cases where manual verification is not the case anymore (e.g., with less accurate or less efficient OCR/IDP with no continuous learning).

IDP in business

Businesses of all shapes and sizes can benefit from IDP. AI-driven IDP solutions can process documents that don’t follow templates with minimal manual oversight, getting faster and more accurate over time.

IDP will help companies streamline data extraction and validation, cut costs, improve accuracy, increase scalability, and reduce manual processing time. With employees reducing the amount of time spent performing repetitive tasks, they’ll be happier, more productive, and able to focus on driving revenue. Making your business more competitive.

Specifically, IDP can help with invoices and accounting. Something every industry has in their remit. For example, if you use manual methods, receiving an invoice PDF will mean painstakingly copying information, validating it, and routing it to the right person, which leaves room for error and time wasting.

Employing Rossum reduced the manual workload by 75%. Productivity increased, with the team having to only spend 50 seconds on average validating each document.

“With Rossum, we see impact early on: from reducing overhead costs to increasing the speed of commercial transactions and significantly reducing the risk of exposure. The solution has a positive influence on both internal users and our clients.”

Ryo Kawaguchi, Manager at Master Trust Bank of Japan

Early payment discounts

faktur:digital, a German business service provider, offers its clients document management, document workflow, input and output management, and archiving solutions. The OCR component of their legacy IDP solution didn’t meet expectations with regard to quality and accuracy.

Rossum’s AI-powered solution proved a winner due to the flexibility of its AI and the fact it offered an embedded mode.

faktur:digital reduced its data extraction times by almost 80%. This speeding up of invoice processing ensured the company’s customers realized early payment discounts that could amount to more than 3-5% of the total payment due.

“Rossum helps us at every stage of our processes with its outstanding AI and fast and professional support. We plan to grow 15-20% per year in the volume of documents, and Rossum will be a crucial part of every data project that needs to extract data from documents. We are sure that every data extraction problem could be solved with Rossum.”

Alexander Berndt, Cloud Engineer

Meeting compliance requirements

Before the COVID-19 pandemic in 2020, Landsec, a leading UK real estate company, ran a 100% paper-based operation. This manual processing set up meant that teams were having to do 4-5 operations on average at the preprocessing stage alone. As the company grew, automation became even more essential.

Template-based IDP solutions were ruled out due to the multiple types of invoices received. With other competitors falling short because they handled the procurement aspect in parallel, outside Landsec’s finance system, with General Ledger data not plugged into a financial system.

Rossum’s cloud-based, template-free, intuitive platform, being able to adhere to business requirements and regulations, made the final cut. Saving the company 92% of time on document processing.

“For us, Rossum was the most straightforward solution to integrate and implement. We were incredibly fortunate to be able to deploy quickly and continue our business as usual without any interruptions.”

Chris Wilkinson, Solution Designer

When you consider the huge benefits IDP brings to businesses, it’s no surprise that the intelligent document processing market size is expected to grow to $5.2 billion by 2027.

Rossum is an AI-powered document processing solution that’s revolutionized the way businesses operate. Providing robust tools that streamline processes, reduce communication bottlenecks, and improve overall efficiency. Known for our innovative approach and exceptional customer service, we deliver happier customers, better vendor relations, and higher employee satisfaction, helping businesses achieve greater success than ever imagined.

Whether you’re looking to enhance sales, provide best-in-class service, or improve your bottom line, Rossum will take your business to the next level. Rossum is also ISO27001 certified, and offers HIPAA compliance. We’ve also earned SOC 2 Type II certification.

IDP use cases by industry In addition to general use cases for all industries, IDP has several industry-specific applications…

IDP in business services/business process outsourcing - BPO

Organizations in the business services/BPO industry often rely on manual data entry or outdated IDP solutions. Unfortunately, these legacy solutions create more manual work.

Your team is likely to be stuck creating new templates for each new styled document, or fixing inaccurate data.

However, an AI-powered IDP platform like Rossum will streamline operations and processes. Eliminating manual data entry work so your team can focus on more innovative and creative tasks. You’ll be able to turn around documents required in claims and billing much faster, such as those required for…

Customs clearance

Clearing customs involves a large volume of paperwork. Not only do customs agents need to know what’s in a package, they need to know its journey end to end.

IDP will accurately classify and validate data from commercial invoices, bills of lading, and certificates of origin.

Order management

Mistakes in order management can lead to out-of-stock items and slow cash flow. IDP will process your sales order documents in seconds, so you can get products to customers faster and accelerate your cash flow.

Accounts payable & accounts receivable

Accounts payable departments receive hundreds and hundreds of invoices. Processing invoices accurately and on time is a pain with traditional OCR solutions or manual invoice data entry.

Intelligent document processing improves accuracy and ensures fast invoice data processing, all while reducing costs.

An intelligent document processing solution can integrate with your existing systems and processes. Enhancing the solution rather than creating new problems. The right IDP provider takes time to understand your company’s needs and existing automation solutions. Then configures the platform to work seamlessly within systems that work and augment others for improved performance.

IDP in financial services

The Financial services sector is a paper-heavy industry with printing and paper costs reaching $10.5 billion each year!

Finance documents must be processed quickly and accurately. Penalties are heavy for missed deadlines. For customers, an error or delay could mean the difference between qualifying for a mortgage for their dream home or being forced to keep renting. Similarly, a mistake when processing application forms could mean providing a loan to a fraudster.

A modern IDP can help the financial services industry with…

Onboarding/KYC

Financial institutions using intelligent document processing can efficiently and accurately process and extract information from bank statements, ID cards, application forms, W8 and W9 forms, and more, resulting in faster turnaround times and better customer experiences.

Fraud detection

It’s easy for someone to provide fake documentation or misleading information on applications. IDP can auto-extract data from structured and unstructured documents and seamlessly bring that paper-form data into fraud detection engines.

Trade finance

IDP can accurately process guarantees, letters of credit, commercial invoices, bills of lading, and certifications of origin, leading to reduced costs and faster turnaround times on trade finance decisions.

Loan processing

Loan processing is a slow and error-prone task, with a ton of documents to manage, including loan applications, W2 forms, paystubs, tax returns, bank statements, valuation reports, financial statements, and title reports. Automated document processing automatically extracts the relevant data, verifies the information, and uploads to your loan processing system. Significantly reducing manual processing time and minimizing errors.

Credit applications

Similarly, IDP can help with credit applications. Not only will you be able to quickly process credit reports, loan applications, and income verification documents, you’ll also eliminate paperwork errors.

Mortgage processing

IDP works much the same with mortgage applications. It can extract and validate data from tax returns, pay stubs, W2 forms, 1099 forms, and ID cards, so you can make data-driven decisions faster.

Account management

IDP can digitize, extract, and classify data from paper forms and integrate it into your systems, making approving and opening new accounts easier than ever.

There are many intelligent document processing vendors are out there, with some better than others. Reliable, accurate, and fast, Rossum is the perfect solution for financial institutions that need their documents and data processed quickly and accurately to drive efficiency.

IDP in government Another industry overwhelmed with paperwork. Oh, and a ton of red tape. Tax forms, social security documentation, and census forms.

An IDP solution can process government documents and transform your agency’s operations by reducing repetitive tasks, offering workflow automation, boosting productivity, and giving employees time to focus on essential tasks.

For example, IDP can automatically process all your income records and 1099, W-2, 1040, and 5498 forms to mitigate tax document fraud.

In addition to financial and tax operations assistance, intelligent document processing can be used to benefit applications and healthcare claims in the following ways…

Processing application forms

Applying for benefits or making a healthcare claim, an application is submitted. Potentially thousands of forms.

Streamlining background verification checks

Verifying someone’s background takes time and precision. More so when the data is manually extracted. IDP automatically extracts the names and contact information from an applicant’s references and verifies the information is correct so all you need to do is call references.

Reviewing and verifying tax documents

By nature, tax documents contain heaps of numbers. While a tired human eye might easily mistake a 3 for an 8, IDP won’t make that mistake. It will accurately review, extract information from, and verify tax documents.

Validating cheque stubs and invoices

Similarly, cheque stubs and invoices contain many numbers, with one mistake bringing significant consequences. Fortunately, IDP can accurately extract and validate data from cheque stubs and invoices.

Flagging payment requests

Intelligent document processing will identify and flag payment requests, which can easily be missed with a manual process.

Reviewing military discharge forms

IDP can review and validate submitted military discharge forms.

Checking proof of employment forms

Automatically verify proof of employment forms.

Analyzing patient records and medical reports

Patient records and medical reports contain vital information but are usually quite long. Manually reading and extracting data takes time.

Verifying driving licenses and government IDs

Every country has its own unique driving license. While most licenses share the same general information - name, birthday, height, weight, etc. - they often use different formats. Extracting information manually or with an outdated document processor is a nightmare.

Processing passports

Passports are another form of identification that contains information such as a person’s name, date of birth, place of birth. With IDP, accurately extracting this data is fast and simple.

Checking utility bills

It can be easy for mistakes in utility bills to occur and go unnoticed. IDP can read and understand utility bills, flagging incorrect data.

Interpreting census forms

Every ten years, the U.S. government conducts a census and receives millions of census forms, each containing names, genders, ages, dates of birth, races, the number of people who live in a household, and more. That’s tons of paperwork and a lot of data that needs to be extracted, making it the perfect use case for IDP.

Whether you need to process invoices, military discharge forms, tax forms, or government IDs, Rossum’s got you covered. Our solution is equipped to handle anything you throw at it, so you won’t need to spend time tediously reformatting documents or creating new templates.

IDP in logistics and transportation

The logistics and transportation industry has many moving parts. From bills of lading to commercial invoices, packing lists to delivery notes, the faster your customs clearance process is, the faster you can bill your customers.

Scheduling

Your IDP can validate data from bills of lading, waybills, and custom forms against back-end databases to ensure everything is correct and SLAs are met.

Clearing customs

Automatically classify and validate data from bills of lading, certificates of origin, and commercial invoices.

Proof of delivery - POD - data

Automatically extract data from receipts, invoices, and bills of lading, so you can quickly find proof of delivery.

Delivery tracking

Automatically capture and verify data from shipping instructions, waybills, receipts, PODs, purchase orders, and truck hauling tickets.

Invoices and payments

Capture invoice data, automatically compare and match purchase orders, and benefit from early payment discounts. Ensuring you pay drivers on time, as they can automatically extract information such as driver account details, miles traveled, bill of lading numbers, and pick-up/drop-off locations.

Freight forwarding

Accurately extract data from commercial invoices, packing lists, export shipping bills, bills of lading, certificates of origin, letters of credit, insurance certificates, and declarations of hazardous cargo.

Technical documentation

Extract data from delivery documents for archiving and to meet compliance.

Additionally, an IDP solution can process fuel consumption statements, license forms, and repair bills - and, unlike traditional template-based solutions, modern IDP solutions like Rossum are document agnostic.

IDP in manufacturing In the manufacturing industry an IDP platform can process delivery notes/orders, product tags, and shipping labels, which makes inventory and supply chain management frictionless.

You and your team can then focus on projects that will boost revenue and drive business growth.

IDP can also help organizations in the manufacturing industry process…

Purchase orders, invoices, and bills of lading

IDP can process purchase orders, invoices, and bills of lading and then automatically route or act upon them.

Intake documents

Manufacturers deal with intake documents from various sources, such as fax, email, or standard mail. An IDP can read these documents like a human and then upload the data extracted into a unified, digital repository that’s easy to use and accessible to all relevant employees.

Change requests, quality assurance records, and proposals

Change requests, quality assurance records, and proposals are other essential documents in the manufacturing industry. An AI-driven IDP can interpret and act upon change requests, quality assurance records, and proposals.

With our help, you can reduce pre-processing, validation, and post-processing times. Plus, Rossum generates reports, so you can action real-time insights into your operations.

For example, Rossum recently helped EvoLogics build a robust supplier and product database that helped the team reduce document processing times by 74%. With a seamless end-to-end integration of Rossum into its existing systems, EvoLogics ultimately ended all its manual data capture efforts.

IDP in retail and consumer packaged goods (CPG) Companies in retail & CPG work with multiple vendors, which ensures a mountain of paperwork.

Common use cases for IDP in retail and consumer packaged goods include…

Quality assurance

Quality control is essential in manufacturing. It includes inspection of products, monitoring of production processes, tracking test results. Intelligent document processing automatically captures data from certificates of analysis, inspection reports, test results, and product specifications. Helping manufacturers find and address quality issues, ensure punctual delivery, and confirm products meet regulated specifications.

Order management

Processing sales order documents is mind-numbingly boring, repetitive work. Automated document processing minimizes the inevitable human errors, identifies out-of-stock items, and accelerates cash flow.

Supply chain management

Supply chains are complex. Tracking orders, supplier performance, stock levels, and more. IDP can automate this process. Capturing data from purchase orders, invoices, delivery notes/orders, helping expedite the flow of goods and services, minimizing disruptions, and ensuring customers receive their orders on time.

While plenty of IDP solutions are available, Rossum’s intelligent document processing platform goes above and beyond. It’s powered by AI, which means it’s fast, smart, and ready to extract data from documents, even when layouts vary. You’ll spend less time creating templates, manually reviewing information, and more time on business-critical tasks.

IDP can automatically identify who the customer is and what the claim is for before routing it to the correct department. Customer onboarding, document verification, and identity document processing is also part of its remit.

Rossum is an IDP platform that can automate everything from pre-processing to data extraction to data validation to post-processing. You can say goodbye to spending hours on manual work. Instead, process insurance documents and approve or deny claims fast. Providing customers with a better experience.

Intelligent document processing can benefit all industries IDP technology benefits every industry. From financial services to manufacturing. Retail to logistics. And all those in between. Whether you have to wrestle with piles of invoices, mountains of claims, or countless tax forms, AI-powered document processing will automate processes and take the weight off your shoulders.

With so many intelligent document processing solutions on the market, choosing isn’t always easy. Outdated IDP solutions can result in additional manual work like reformatting, template creation, and corrections. Rossum, a modern, AI-driven platform, can automatically, quickly, and accurately extract data from documents regardless of format, saving you valuable time and energy.

IDP extract data from HCAHPS and patient referral forms, claims, and billing. For example, you can automatically capture and validate data from UB-04 and CMS-1500 forms, accelerating billing and claims processing.

IDP can also help with accounts receivable, extracting data from bills, invoices, and EOB forms, resulting in a fast reimbursement process.

Rossum is a good fit for those in the healthcare industry. Not only will it help you automate manual extraction work, it will also speed up data validation and improve accuracy.

IDP in insurance

Insurance is another industry where paperwork is unavoidable. Companies have to verify that claimants are eligible for coverage and compare them to policy documents, which means reviewing multiple documents. Then, they have to process the claims, resulting in even more paperwork. Unfortunately, many papers are unstructured, making extracting data difficult and time-consuming.

Rossum’s template-free solution can extract data from nonstandard documents, accelerating the insurance and procurement claims process, including…

Certificates of insurance

Certificates of insurance verify that someone has an insurance policy. Each certificate contains vital information, such as the policy’s expiration date, the names of the individuals covered, the amount of coverage, the type of policy, and a summary of the coverage.

Manually processing these documents will be slow and error-ridden. IDP can quickly and accurately read, understand, and extract data from certificates of insurance.

Claim forms

Again, a ton of important data that will be tedious to extract manually or with an OCR, but an AI-driven IDP solution will efficiently and accurately process the information.

Receipts

IDP can extract data from receipts, regardless of origin or format.

Invoices

All organizations deal with invoices. While manually extracting data from invoices can be a long, frustrating, and inaccurate process, IDP allows for fast, easy, and accurate invoice processing automation that will save you time and energy.

IDP in healthcare

Paperwork is critical in healthcare. Not only do patient records need to be accurate and accessible to avoid mix-ups. There are also bills, claims, patient referrals, and surveys to deal with. Working with physical files can mean frantically searching for paperwork, but processing and digitizing documents requires time, money, and human resources.

IDP can automatically extract data from ID documents, insurance cards, patient registrations, and medical and treatment histories and integrate it into your systems, allowing for a fast, streamlined workflow. Plus, IDP can process surgeons’ preference cards, mitigating risk in the operating room.

Modern IDP in healthcare come with the following capabilities…

Privacy compliance

IDP can work with various privacy standards, adhering to either industry or government standards depending on region.

Security and corporate compliance

IDP can be configured to work within an organization’s own standards for compliance and retention.

Controlled access

To meet privacy standards, IDP ensures that sensitive documents are only processed and accessible to authorized personnel and departments within a healthcare organization.

IDP in technology In the technology industry IDP will help…

New business intake

Every time you gain a new client, there’s paperwork. The good news is that an IDP can process everything from legal bills to client-matter documents to invoices, allowing you to onboard clients faster.

Energy management

One mistake can be costly when it comes to energy. While in the past energy management meant reading documents line by line, IDP can automatically read and understand utility bills, invoices, and credit and debit notes, so you can identify energy consumption anomalies.

Build costs

Building automation solutions from scratch is expensive and time-consuming, but Rossum’s intelligent document processing solution is equipped with automation tools, meaning you can save time and drastically reduce costs.

Not only can you lower build costs, manage energy consumption, and onboard clients faster, you can also improve your workflow and create better user experiences. Plus, you can avoid maintenance since we release and automatically deploy new features yearly.

Copyright 2023 Rossum, Ltd. rossum@rossum.ai www.rossum.ai

The Rossum Platform A single platform designed to minimize the time your organization

spends processing documents.

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