100+ IDP Use Cases for every Business
Intelligent Document Processing (IDP) as a service is reaching new heights at a rapid pace. As per the Market Research Future report, IDP is expected to grow at a CAGR of 35.4% between 2020 and 2027. What do you think are the drivers for this? Everest Group says that cost impact is the key driver followed by organizational productivity and operational efficiency focus. Banking and Insurance seem to adopt IDP as a service at a faster pace compared to other industries. Why do you think the focus on IDP is across every business function?
Insights from unstructured data – The maturity curve for utilizing unstructured data across every business function is improving.
Cost savings – When compared to manual processes, IDP augments the workforce and saves about 30-50% of costs depending on the process and data maturity.
Scalability – Horizontal-specific solutions like invoice processing, KYC solutions, and pre-trained models across verticals to improve the adoption, configuration, and interoperability.
Total cost of ownership lowered with IDP as a service, and increased accessibility.
As the focus is shifting rapidly towards IDP across industries, we have come up with a comprehensive list of use cases. Download now!
In this comprehensive use case copy, we will cover about:
The use cases across different business functions – Finance, Sales and Marketing, HR, Supply Chain, and IT
Most prominent applications across different industries – Banking, Insurance, Manufacturing, Retail, Telecom, and Healthcare