IDP5 ways to make your Document processing automation initiatives successful

December 14, 2021

From healthcare to banks and retail, Document processing is a big part of today’s operations. The dimensions to improve document processing are accuracy, speed, and low cost. Intelligent document processing helps you meet these internal priorities and enables your business to stay ahead of competition and customer experience.

Automation in document processing is an attractive direction to take, to get the maximum benefit, you need to consider these five things.

Clarity of your processes and goals

Selecting the right IDP for the proper process will help you have smooth operations. While technology is essential, domain expertise will make the project a success. The lack of appropriate planning and understanding of document processing needs will lead to the selection of IDPs that are not capable of handling your unique document processing needs

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Your Automation vision

Your automation plan should consider operational, tactical, and strategic aspects. IDPs can reduce costs and help improve customer satisfaction and win rates. This view will lead to a better assessment of automation.

Using IDPs for the core functionality of document classification and data extraction will lead to limited benefits. Identify how you can minimize human touchpoints by integrating your applications with IDPs, having validation rules specific to your process needs, and designing a Human in the Loop process to monitor, review and approve. Another aspect you should consider is identifying all areas where IDPs can be used.

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Your teams support

While this aspect is often overlooked, IDPs do not eliminate humans, but humans are required to review and approve; however, Automation in document processing brings a lot of anxiety into your teams which can compromise the success of your initiatives. Being open and transparent with a plan to upscale the existing teams to better roles will get your team’s support.

Collaboration with IDP team

Another aspect often overlooked is the alignment of your IT and operations teams with the IDP teams. These 3 stakeholders need to work together to implement the IDP. The plan should be clear with deliverables and tasks that can be measured daily. This will ensure that everyone contributes to the implementation without delays or cutting corners. A good implementation plan is a must to enable this

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Know your metrics

Once the IDP is implemented, knowing the metrics that are important for you, what the current state is, and what needs to be done to move towards the goal is very important. Your IDP dashboard should have some of these metrics to help you with the numbers. However, moving the numbers will take new initiatives and tracking the performance of these new initiatives is very important

Training model

The AI and ML engines in IDPs make IDP better than OCRs, however, it is crucial to understand the AI and ML engines and how they are implemented. This will depend on the IDP selected. The AI and ML engine might require a month’s training or are pre-trained. This can have an impact on your go live dates.

The good thing is that ML engines get better with time because they learn and adapt. For this to happen, care should be taken while designing the human in the loop and the machine learning loops as we don’t want unwanted inputs to be considered by the ML engine for training, and also, we don’t want valid inputs to be missed.

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