2023 IDP Trends to Watch
Intelligent document processing (IDP) is an innovative technology that’s gaining traction around the world as organizations look for ways to increase efficiency and accuracy with their growing volumes of documents. However, like other techs, new advancements are changing the business landscape.
Based on insights from Gartner’s Top Strategic Technology Trends eBook, Rossum has identified the top IDP trends to watch in 2023. Take a look now to stay ahead of the competition in the coming year — and beyond.
What is intelligent document processing?
If you’re new to IDP, it’s a document automation solution that uses cutting-edge AI and machine learning technologies to power the entire document processing lifecycle. From intake and data capture to validation and reporting, IDP automates many tedious administrative tasks. This saves time and money while ensuring data integrity.
IDP trends to watch in 2023
In an increasingly dynamic environment, businesses need sophisticated document processing. Whether it’s invoices or data entry, the technology trends of today are making it easier than ever for businesses to optimize how they handle documents.
Here are the top 2023 IDP trends to watch so you can prepare your organization and accelerate digital transformation:
1. Digital immune system
A digital immune system combines practices and technologies to detect, mitigate, and prevent system failures, thereby improving user experience and business performance. This comprehensive approach is becoming increasingly important as the proliferation of connected devices and data breaches continue to pose security challenges.
Bolster data security
IDP plays a key role in digital immune systems by helping organizations uphold the highest standards of data security, privacy, and compliance. By moving your paper and digital documents to a secure IDP solution, you’ll be able to ensure the confidentiality, integrity, and availability of your critical business data.
2. Adaptive AI
Adaptive AI is an advancement of artificial intelligence technology that enables a system to adjust its learning practices and behaviors in response to changing real-world circumstances, even while in production. By building flexibility and resilience into the design, adaptive AI can react more quickly and effectively to changes than traditional AI systems.
Increase processing flexibility
Organizations have to process a wide range of documents — contracts, bills, invoices, forms, and policies. Manual processing is inefficient, and traditional template-based OCR software lacks flexibility. IDP’s adaptive AI can help businesses increase the speed and accuracy of document workflows, from pre-processing to reporting.
3. Industry cloud platforms
Organizations are moving away from generic services to industry cloud solutions for scalability and industry-specific functionality. Industry clouds combine software, platform, and infrastructure as a service (IaaS) tailored to the user’s unique needs. In 2023, more businesses will switch to industry clouds to enhance their competitive edge.
Leverage built-in and custom integrations
Rossum’s cloud-native IDP platform offers powerful and adaptable document automation for a wide range of industries like financial, technology, retail, healthcare, and more. The AI system also makes it easier to manage industry-specific documents, such as licenses, agreements, and policies.
Plus, pre-built integrations make our IDP platform a plug-and-play solution ready out of the box, while its adaptability supports a custom integration to fit your needs. With the right IDP platform, your organization can become more productive, compliant, and resourceful.
4. Sustainable technology
In a world with finite resources and transforming environments, technologies are projected to play an ever-growing role in reducing the impacts of climate change. But how do we ensure that our tech solutions are sustainable?
The challenge of balancing human needs and environmental stewardship has given rise to sustainable technology, a decision-making framework to deliver balanced and responsible solutions. Sustainable technology can help us do this by improving efficiency, decreasing consumption, and reducing waste.
Go green (and save green)
More and more organizations are turning to green initiatives as a way to reduce their environmental impact. IDP promotes sustainable technology by helping companies to drive efficiencies and protect resources across their departments.
Manual data entry and document processing are resource intensive. With document automation, you can create a paperless office and streamline workflows. Not only does this lower your carbon footprint, but it also saves time and money, increases profitability, and improves customer satisfaction.
Accelerate your business initiatives in 2023
As your initiatives become increasingly complex, you have to replace outdated technology and approaches that are unreliable and inefficient. Leverage the most innovative trends, like intelligent document processing, to automate processes that would otherwise take an extensive amount of time and money to complete.
AI-powered IDP makes it possible to improve productivity while enabling organizations to respond quickly to the ever-changing demands of their customers and industry. Whatever your business initiatives are in 2023, accelerate their success with document automation that’s flexible, accurate, and scalable.
Try IDP for free now! Gain full, immediate access to discover the unlimited possibilities of powerful document processing.