Invoice processing – IDPs are a better fit for Invoice processing compared to RPAs

Documents such as invoices, purchase orders, checks, receipts, etc have no standard format. However, businesses need to enter the information from these paper documents into the financial systems and ERPs. A lot of manual effort is spent in classifying the documents and extracting the data for analysis. As time is limited: – errors generally creep […]

Check processing – IDPs make for a better fit than RPAs

The total checks written declined to 16.0 B with a value of $26.20 T, a decrease of 4.2 B and $3.48 T from 2015. [1] Checks still comprise 7% of overall transactions [2]. Checks are still an essential form of transaction with high volumes; moreover, the average value of checks written grew to $1,635 in […]

What is the difference between an IDP and OCR?

The capabilities of Intelligent Document Processors (IDP) today are far ahead of Optical Character Recognition (OCR) and better capable to fulfill the needs and expectations of businesses today. We have compiled the top 5 points of comparison that highlight this gulf and the benefits that it brings to business processes.   Conventional OCR IDP solutions […]