Accelerate Time-To-Automation and Maximize Competitive Advantage with Template-Free IDP [VIDEO]

Experts estimate that a whopping 80% of enterprise data is unstructured. Processing high volumes of such data and transforming it into actionable insights can be incredibly difficult. So difficult, in fact, less than 20% of companies are able to take advantage of it. 

It’s become clear that RPA and traditional OCR are not enough. Organizations need process and data-driven approaches to converting unstructured data into structured formats to achieve a greater degree of straight-through processing and maximize accuracy. They also need intelligent document processing solutions that can be set up faster and easier than ever instead of having to rely on lengthy development processes. 

This is where a template-free solutions such Datamatics TruCap+ IDP come in. Such AI-enabled IDP solutions can be deployed in the cloud so no need to worry about setting up underlying infrastructure. Plus continuous learning & improvement based on AI/ML algorithms and user inputs, and other cognitive capabilities deliver a greater percentage of straight-through processing (STP) with a higher accuracy. In fact, a template-free approach reduces set up time by 30% -70%, accelerating time-to-automation. 

As Saurabh Sharma, AVP & Head of Product Marketing, Intelligent Automation Products, Datamatics explains, “Most IDP tools require a lot of time, investment and professional services as well, just to get you up and running. Because if you look at large enterprises, having hundreds of vendors, each with a different kind of invoice, just to templatize those documents before actually reaping benefits of automation can consume a lot of time, effort and money. And it does not really add much value to the automation life cycle. 

So we minimize that setup time and in a way it reduces the TCO significantly. Of course, the product has pre-building AI/ML capabilities and business rules are embedded. And those all come from our 20 years of experience of doing business for our services, finance and accounting services, where a lot of document crossing is involved.”

In fact, the template-free approach offered by TruCap+ IDP reduces set up time by 30% -70% and delivers faster return on investment (RoI). Pre-built AI/ML capabilities and business rules enable automated verification & validation of data while cognitive capabilities deliver a greater percentage of straight-through processing (STP) with a higher accuracy, thereby reducing manual effort and saving time.

But don’t take our word for it. Pulled from our recent IDP/IDA showcase, watch this 30-min video presentation by Saurabh Sharma, AVP & Head of Product Marketing, Intelligent Automation Products, Datamatics to discover: 

• How AI-powered IDP solutions differ from legacy OCR and RPA tools
• Why companies are increasingly embracing a template-free approach to IDP vs. a template-driven approach
• How IDP enables and augments end-to-end process automation 
• A demo of TruCap+ IDP along with best practices for utilization