Intelligent Document Processing (IDP)
Definition
AI-powered technology that automatically classifies, extracts, and processes data from documents of any format.
Overview
Intelligent Document Processing (IDP) combines OCR, NLP, and machine learning to understand and extract information from documents. Unlike simple OCR that just captures text, IDP understands document types, identifies key fields, and extracts relevant data regardless of format variations. IDP can process invoices, contracts, forms, and unstructured documents, dramatically reducing manual data entry and improving accuracy.
Why It Matters
Enterprises process millions of documents annually—invoices, contracts, claims, and forms—each requiring manual review. IDP can reduce document processing costs by up to 80% while improving accuracy and cutting cycle times from days to minutes.
How New Odyssey Helps
New Odyssey's IDP capabilities automatically classify, extract, and validate data from any document format, feeding structured data directly into downstream workflows with enterprise-grade accuracy.
Related Terms
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Related Solutions & Use Cases
- Document ProcessingExtract, classify, and process documents automatically with AI. Turn unstructured documents into structured data.
- Intelligent Document ClassificationAutomatically classify, tag, and route documents using machine learning for faster processing and improved accuracy.
- Invoice Data CaptureAutomatically extract and validate invoice data from any format for faster processing and accurate payments.
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