Organizations used to automate specific tasks with an RPA system. Today, they have the opportunity to automate entire use-cases by combining intelligent document processing (IDP) with RPA. Doing so leads to high-precision automation that significantly reduces errors and provides a fast return on investment.
One of the software solutions developed to process large volumes of data that require simple repetitive tasks is robotic process automation (RPA). According to the Institute for Robotic Process Automation & AI:
"Robotic process automation is the application of technology that allows configuration of computer software or a 'robot' to capture and interpret existing applications for processing a transaction, manipulating data, triggering responses and communicating with other digital systems."
In other words, RPA automates human workers' rule-based actions. The ideal tasks for RPA technology are simple, repeatable, standardized, high-volume, and performed digitally. RPA is based on rules that can automate simple tasks, or a series of simple tasks, thus automating a process. Traditional methods of coordinating container shipments—sifting through endless emails for rate quotes, instructions, Bills of Lading (BOLs), and vital attachments—represent a significant drain on resources. These processes are not just tedious but also time-consuming, diverting attention from crucial aspects like load tracking, invoice processing, and nurturing customer relationships.
Because RPA allows automation of rule-based processes, it can be given a set of instructions based on a particular rule, e.g., if this, then that. RPA constantly runs until all the data to which that rule applies has been processed. For documents with a fixed structure like forms or passports, RPA can process this data using rules or templates to function for millions of records with an identical or similar design. However, if a task is not rule-based, RPA may not be adequate for extracting the required insights without AI's power.
Intelligent Document Processing enables software robots to automatically read, extract, analyze, and make decisions on data from documents using machine learning (ML). IDP incorporates document processing, artificial intelligence (AI), and RPA. Ultimately, this means that unstructured documents without fixed layouts can be processed by robots that extract, interpret, and act upon relevant data. Machine learning models also improve the robots’ skills and accuracy at document processing over time as they integrate the data they encounter.
Organizations are now harnessing the power of intelligent automation to increase efficiency and decrease human errors in their document processing. Doing so gives them more time to focus on higher-value tasks and organizational goals. Recent developments in machine learning have led to critical breakthroughs for intelligent automation. Historically, this type of automation was limited because when a human reads a document, reasoning and critical thinking are involved. As humans, we can quickly identify each document type, understand the meaning of the information in the document, and judge based on this information. Today, intelligent document processing comes into play, as the software can read, understand, and process documents as humans do in just a few seconds.
VendorConnect is an IDP engine that uses an innovative, purpose-built Document Query Language (DQL) and AI-based learning systems to transform unstructured documents into machine-readable representations. In other words, with VendorConnect, you can turn any document into structured data in just a few seconds.
This automation is achievable through a machine learning engine that can read – and understand – documents like humans do. Once documents are transformed into machine-readable data, you can effortlessly search, analyze, and process previously hidden data to find new insights. Innovative organizations use IDP to make data usually hidden in documents like forms, invoices, or emails available for a fast and seamless process. VendorConnect integrates with existing systems, like RPA, and helps with document classification, data extraction, and information processing of any document type in any language.
VendorConnect augments RPA processes to perform highly accurate analysis and actions based on information typically locked in documents. Integrations with your RPA system of choice, like UiPath, elevate document processes beyond basic RPA tasks.
With a user-definable schema and interactive training of the AI models, VendorConnect offers a high degree of customization to suit your specific enterprise-grade needs.
RPA can be used to automate document processing, but augmenting this process with intelligent document processing, as with VendorConnect, has several significant benefits, including but not limited to:
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