What is meant by Intelligent Document Processing (IDP)?

Intelligent Document Processing (IDP) refers to the software capability that automatically extracts information from various types of documents, categorizes this data, and delivers actionable insights. This technology leverages advancements in artificial intelligence, particularly machine learning and natural language processing, to transform unstructured data into structured formats that organizations can use effectively.

With IDP, documents that were traditionally labor-intensive to process—such as invoices, contracts, and forms—can be handled efficiently. The software can recognize different types of information (like dates, names, and amounts), classify documents based on content, and even provide insights or analytics based on the extracted data. This capability significantly enhances productivity, reduces errors, and can lead to better decision-making by providing timely insights derived from previously unstructured information.

The other options, while related to document management and data processing, do not encapsulate the core functionality of IDP. They either focus on data storage, organization, or generation, rather than the intelligent extraction and insight generation that defines IDP.