Choosing the right document processing software for your business can lead to major efficiency gains
Document processing automations can speed up data extraction, but only if the data itself is clearly labeled using a structured form. To achieve maximum efficiency, businesses of all sizes are turning to intelligent document processing. But with so many intelligent document processing vendors vying for your attention, how do you know which is right for you?
Sometimes you’ll know the right vendor for you by looking at its key focus. You know what kind of processing your documents require. If you compare your needs against a solution’s feature list, you’ll often be able to tell whether or not that vendor meets your needs. To that end, here are some of the most valuable features to consider when evaluating intelligent document processing companies and the products they provide.
Looking for more information about intelligent document processing? Our Comprehensive Guide to Intelligent Document Processing can answer your questions.
6 software features offered by the best intelligent document processing vendors
1. Accuracy
Maybe the most important feature of any document AI is its accuracy. Intelligent document processing (IDP) only works if it can accurately read and identify the data in your documents. That requires two technologies to work hand-in-hand. The first is optical character recognition (OCR). OCR looks at a scanned image, finds what’s written on the page, and turns it into interactable text. Most leading OCR solutions are around 95% accurate on printed text.
The second technology is natural language processing (NLP). NLP can look at the text the OCR engine creates, read it as a human might, and interpret it. This is critical when working with unstructured documents. For example, if your IDP solution’s NLP can read a doctor’s notes, it can automatically identify and extract the patient’s symptoms.
When comparing intelligent document processing vendors, look for solutions that offer best-in-class accuracy. These solutions are the least likely to require human attention. That means they can save your team more time.
2. An intuitive user interface
The simpler and more intuitive an IDP solution is to use, the more quickly it can become part of your regular workflow. Intelligent document processing vendors will typically choose either ease of use or sophistication. Simpler systems are usually easier to learn but may sacrifice deeper functionality. Look for intelligent document processing vendors that offer free trials. These test periods can give you a sense of how hard the software is to learn and if it can do more than just the basics.
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3. Useful for just about any situation
Some intelligent document processing vendors target specific industries. Their solutions come with niche features that are particularly helpful in those industries. For instance, IDP software for a law firm might be able to highlight specific clauses in contracts. That can speed up the redlining process.
However, to get the most value out of your IDP software, you may be better off with a more flexible solution. If you can bring IDP into workflows as distinct as invoice processing and patient intake, you can increase efficiency across your company. Look for software that can process a wide variety of document types, from invoices to contracts, insurance claims, intake forms, and more.
4. Flexible integrations
IDP’s most basic functions all concern the document itself: pulling out data, adding labels and metatags, then routing the information to the next part of the workflow. But with the right integrations, IDP can wring much more efficiency from that information it pulls from documents.
If you use customer relationship management (CRM) software, look for an IDP that can integrate with it. That will allow you to automatically copy contact information from a document and into your CRM. Integrating with your accounts payable software can allow your IDP to populate spreadsheets or other databases. Tie it to your electronic medical records (EMR) software, and providers will have instant insight into each patient’s allergies and medications.
The more you can integrate your IDP into your existing technology stack, the more time and money it can save you.
5. E-signature capabilities
Signatures can present a stumbling block in a digital workflow. Printing out a document for a physical signature is time-consuming and even risky. More than 60 million items land in the USPS Mail Recovery Center each year.
Digitizing signature collection speeds up the process and makes it more secure. Many IDP solutions support electronic signatures. Not only does that save steps (and time), but it also makes sharing, storage, and archiving simpler. Plus, the document can stay protected by cybersecurity measures the whole time.
6. Robust security measures
From patient charts to financial records, businesses are full of sensitive documents. Keeping them safe is critical to a successful business. If threat actors were to steal that information, they could sell it to competitors, charge your organization a ransom, and permanently undermine your credibility. In certain industries, the breach could even lead to costly compliance violations.
The best IDP solutions use a wide range of protections to keep that threat at bay. Data encryption can protect sensitive documents from unauthorized eyes. Role-based access controls can set limits on what each user sees. Combine that with a policy of least-privilege access, where users can only access the information they need to do their jobs and nothing more, and you can minimize the risk of a breach.
The value of stellar customer support
Finally, it’s important to consider how a vendor will support you after your purchase. Although this isn’t a software feature, it has a huge effect on how well the software will work for your business. Even the most polished and intuitive software can run into unforeseen snags. You want to know that someone will be there to help you out when and if you have an issue — and that they’ll be there during your regular working hours.
Also look for a solution with an expansive resource library. Handbooks, video tutorials, and other documentation can empower employees to solve their own issues. A customer forum can also come in handy, as users help each other through common issues or offer suggestions for ways to use the software. Make sure your chosen vendor makes support available in several ways, such as email, instant messaging, AI chatbots, or over the phone.
Did You Know?:Ricoh partners with several leading providers of intelligent automation, including Laserfiche.
Automate with the experts
Ricoh’s line of production-grade scanners can serve as your on-ramp to the efficiencies of IDP. But if you’re looking for help deciding which IDP solution is right for you — or how to implement it — our automation experts are here to help. Ricoh partners with several of the biggest names in intelligent automation, and our analysts can point you toward the best solution for your business. Contact us to start optimizing your workflows today.
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