ABBYY Releases Global Intelligent Document Processing (IDP) Trends & Outcomes Report

By HRTech News Desk On Jun 13, 2023

ABBYY released its Intelligent Document Processing (IDP) Global Trends & Outcomes Report highlighting document challenges and opportunities driving enterprise intelligent automation initiatives. The report provides innovation leaders with key insights into how businesses are optimizing document-centric processes to achieve operational excellence, improve the customer experience, and accelerate business value.

As the leader in IDP recognized by 10 independent analyst firms combined with three decades of experience digitally transforming billions of documents to provide actionable insights for more than 10,000 customers, the company’s internal data can be considered a marker for global trends.
“Enterprises continue to be driven by the ever-changing digital needs of their customers. At the heart of meeting customers’ expectations is making operational improvements that impact engagement and deliver measurable value,” commented Gabrielle Lukianchuk, Chief Marketing Officer at ABBYY. “Various global market factors noted in our report highlight the need for faster access to and a better understanding of customer-centric data to achieve more exceptional customer experiences. The goal of sharing our insights is to foster mutual learning and enable today’s organizations to reach their intelligent automation milestones faster.”

Analysis of three key regions reveals priorities to improve workforce agility, customer experience, and overall operational efficiency. According to ABBYY data, the key driver is the need to improve how they process the data and related documents. Most notable by region include:

North America
· Tax forms (IRS 1040)
· Financial documents (bank statements, invoices)

Europe
·        Documents for international travel and commerce, such as customs declarations, identity documents, and waybills
APAC
·        Forms related to international shipping (air and sea waybills)
·        Identity documents
·        Financial documents (bank statements, invoices)

Despite their varying priorities, all three regions are focused on streamlining accounts payable operations by improving and decreasing cost of invoice processing, as well as elevating the customer experience for both consumer and business customers through automated processing of identity-related documents, and documents used within transportation and logistics.

Enterprises in all regions also had similar priorities to augment their intelligent automation platforms with connectors to more advanced IDP capabilities that have better accuracy in reading, extracting, and classifying unstructured and semi-structured data. Connecting to high-end IDP solutions with their existing platforms enables organizations to cost effectively scale their technology investments. ABBYY data notes the most common connectors requested are for the following platforms:

·        Microsoft Power Automate
·        UiPath
·        Blue Prism
·        Automation Anywhere

Based on initial data from January through March 2023, ABBYY anticipates continued growth of IDP adoption for use cases accelerating workforce agility, improving the customer experience, and streamlining supply chain and logistics business processes.

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