Most accurate Intelligent Document Processing Software (2023)

In today’s digital age, businesses are generating an overwhelming amount of data on a daily basis and the demand for intelligent document processing software is on the rise, and AI-powered solutions can help businesses automate their document processing workflows and streamline their operations.

These tools have the ability to extract data from unstructured documents and learn from user interactions, revolutionizing the way businesses process their documents. This article will take a closer look at the best AI-powered document processing software available.

So, if you’re looking for an innovative solution to help your business manage its documents more efficiently, keep reading!

What Are the Best Intelligent Document Processing Software

Some of the best intelligent document processing (IDP) software available in the market today include Docsumo, Abbyy FlexiCapture, IBM Datacap, UiPath Document Understanding, etc. Ultimately, the best IDP software for your business will depend on your specific needs and budget, so it’s important to check the list below carefully so you can make the right decision.

1. Docsumo 

Overview

Docsumo is a document processing software powered by AI that automates data entry and document processing processes. It can extract data from documents and store it in an organized format. It also has powerful search capabilities, so you can quickly find the information you need.

Features

• Ingest, classify, and pre-process any document

• Accurately capture key values & tables from unstructured documents

• Reduce errors by validating data within a document

• Post-process and directly integrate data with downstream systems

• Unsure of extracted data? Mark fields for human review

Pricing

Docsumo offers several pricing plans to meet businesses’ needs, ranging from $500 per month to custom pricing.

Bottomline

Docsumo is the perfect fit for all your document processing needs. Plus, its AI-powered accuracy ensures you get the most accurate results in no time. Save time & money while gaining access to the highest-quality insights from your documents.

2. Docparser

Overview

Docparser is intelligent document processing software that assists businesses in automating data extraction processes. Docparser is a powerful tool for businesses looking to streamline their document processing operations.

Features

• Extract tables from PDF, and export them to Excel, CSV, and more

• Import documents by simply sending them to a dedicated Docparser email address.

• Extract and format repeating text patterns and tables from PDF files, Word & Image docs.

• Fetch Documents From Cloud Storage Providers.

• Download parsed document data directly in multiple file formats – convert to CSV, Excel, JSON, and XML files.

Pricing

The starter plan costs $32.50/month, the professional plan costs $61.50/month and the Business plan costs $133/month. Both pricing plans offer a free trial period.

Bottom line

Docparser offers accurate and reliable data extraction to free up time, save money and improve workflows. With Smart Layout Parsing Presets, you can quickly set up document parsing rules and get the job done in minutes. With a free trial period so you can try them out before buying! Get accurate data with no effort, reduce costs, and increase productivity.

3. ABBYY FlexiCapture

Overview

ABBYY FlexiCapture is an intelligent document processing software designed to help businesses automate their data extraction processes. It’s designed to make the process easier and faster for you, so you can get your data in no time at all.

Features

• Utilize OCR with other Vantage Skills and pre-trained models

• Use mobile devices to Increase data availability and processing speed

• Deploy anywhere, from the cloud to on-premise

• Recognizes handwritten data with its advanced ICR technology.

• Automatically improves images captured by mobile devices to optimize processing.

pricing

This one of the best intelligent document processing systems doesn’t provide prices. You can request a demo.

Bottom line

ABBYY FlexiCapture is an excellent option for businesses looking to automate their data extraction processes. Its range of features and integration with other business applications make it a valuable investment, you can start for free as both plans offer a free trial period.

4. IBM Watson Discovery

Overview

IBM Watson Discovery harnesses the power of AI to analyze unstructured data and produce insights quickly and accurately. Its natural language processing platform automates content analysis, helping you make informed decisions more quickly

Features

• Understands your document structure.

• Delivers passages as answers.

• Surfaces insights with text mining.

• Offers NLP enrichments.

• Integrates with chatbots

Pricing

The pricing plan includes the Plus plan, Enterprise plan, Premium plan, and IBM Cloud Pak for Data cartridge. Contact an IBM representative for more information about the pricing.

Bottom line

Gain the advantage with IBM Watson Discovery! Get a grip on your data, find answers, and gain insights fast — all in one AI-driven platform. Unlock the power of your data to make smarter decisions faster and save time researching topics that are important to your business.

5. Tipalti

Overview

Tipalti enables businesses to take control of their spending by automating payables. You can enjoy more efficient, faster, and more accurate payments with real-time visibility into cash flow, invoices, and vendor data in one central platform.

Features

• Speed up financial close with instant payment reconciliation

• Global payments to pay thousands of partners in a matter of clicks

• Eliminates duplicate registrations for a clean vendor master file.

• Prevent double payment with duplicate invoice protection

• Simplify Self-Billing Processes with Automated Invoice Creation and Submission

Pricing

Pricing starts out at $149 per month. You can at any moment seamlessly upgrade to Tipalti’s more advanced capabilities as your business becomes more complex.

Bottomline

Let Tipalti provide a fast and secure way to manage and pay vendors with full control over your finances. Grow your business smarter with Tipali now and enjoy automated payables that are safer, easier, and more efficient!

6. Microsoft AI Builder

Overview

MC AI Builder is an easy-to-use, yet powerful capability from Microsoft Power Platform. It helps you create AI models that are tailored to your business needs and automate low-value processes. It can extract data from a PDF in Power Automate. This makes it easy to get the data you need from a PDF document. Checkout

Features

• Provides AI models that are designed to optimize your business processes.

• Create bots for company-specific resources with few clicks.

• Detect and recognize objects in images

• Train and build no-code models to enhance the intelligence of your business apps.

• Extract text and visual information using either your camera or available images and documents.

Pricing

There are two pricing options available – one of which is priced at $5 per month, and the other of which is priced at $20 per month. There’s also a pay-as-you-go plan which costs $10

Bottomline

If you’re looking for a cost-effective and efficient solution to make your business processes more efficient, Microsoft AI Builder is your answer. Leverage powerful AI capabilities and unlock new potential for growth right away! Also, check out the best Microsoft Outlook add-ins

7. Alphamoon

Overview

Alphamoon is an automated document processing solution that helps businesses streamline their invoice processing. It enables businesses to quickly and accurately process invoices, allowing them to get paid faster.

Features

• One cloud-based space for all your document sources

• Data capture from any kind of financial document.

• Automated invoice data extraction

• Processing batches of documents

• AI that learns with your input

Pricing

Alphamoon doesn’t have a pricing plan on its website.

Bottomline

With Alphamoon’s revolutionary document automation tool, you can classify invoices from various sources and clients without having to manually enter the data. Join the beta tests and use the tool for free today.

8. Ephesoft Transact

Overview

Ephesoft Transact is an intelligent document processing software that quickly and accurately captures data from documents. It is designed to help businesses automate their document-related processes, saving time and money. The software can recognize documents in multiple languages, extract data from them accurately, and turn them into machine-readable formats.

Features

• provides intelligent document-processing solutions

• Access Controls/Permissions

• Data Aggregation and Publishing

• Data Capture and Transfer

• Optical Character Recognition ocr

Pricing

Pricing for Ephesoft Transact varies based on the subscription plan chosen like the standard plan, the professional plan, and the enterprise plan. Although the amount is not visible on their website you can request a quote for product pricing

Bottom line

Don’t let manual processes slow down your business! Automate your data extraction with the Ephesoft Transact intelligent document processing software! Automate your document processing and reduce manual labor while ensuring security and accuracy with its powerful features

9. Adobe Acrobat DC

Overview

Adobe Acrobat DC is one of the most popular intelligent document processing software options on the market. It offers a range of features to help users create, edit, and manage PDF documents.

Features

• Edit text and images in your PDF.

• Add notes, highlights, and other annotations.

• Reduce the size of your PDF for easier sharing.

• Make scanned text editable through OCR.

• Merge multiple files into one PDF.

• Split a PDF into multiple files.

Pricing

Pricing for Adobe Acrobat DC varies based on the subscription plan chosen. The standard plan costs $12.99 per month, while the pro plan costs $19.99 per month.

Bottom line

Adobe Acrobat DC is the ultimate solution for document processing. With Adobe Acrobat DC, you can create high-quality PDFs, collaborate with others in real-time, and ensure that your documents are secure with advanced encryption technologies.

10. Amazon Textract 

Overview

Amazon Textract is an intelligent document processing software powered by machine learning (ML). It uses the latest ML algorithms to quickly analyze documents and accurately extract data from forms, invoices, and other types of documents.

Features

• Detect key-value pairs in document images automatically and retain the context without manual intervention.

• Helps education administrators manage the admissions process.

• It can be integrated with Other AWS Services

• Uses optical character recognition (OCR) to automatically detect printed text

• Preconfigured intelligent document processing API that fully automates the extraction of information from loan packages.

Pricing

Pricing for Amazon Textract varies based on the number of pages and requests. The API pricing costs $0.60 to $55 for 1000 pages, while you can request a custom estimate.

Bottom line

With Amazon Textract, you can save time and money by eliminating manual data entry, while ensuring accuracy and security. You can start with a free tier plan to try before buying. Start experiencing the benefits of Amazon Textract now!

11. Kofax TotalAgility

Overview

Kofax TotalAgility is intelligent document processing software that you can use in your organization to automate document processing. It can assist you with reducing the time and cost of manual processing, improving data extraction accuracy, and ensuring that all documents are kept in a secure environment.

Feature

• AI-driven powerful document automation tool

• Smart integration

• Embedded AI, machine learning, natural language processing

• Powerful RPA to automate tasks

• Enhanced decision-making, reporting, and workflow optimization

Pricing

Kofax TotalAgility pricing varies based on the subscription plan chosen. It starts from $83 to custom pricing.

Bottom line

Now you can easily automate the entire data extraction process from any type of file or database. Improve your workflow with It and save time & money – all without compromising accuracy or quality. Digitize your documents today with Kofax TotalAgility – the most efficient and reliable document automation tool!

12. UiPath Document Understanding

Overview

UiPath Document Understanding is an AI-powered intelligent document processing software that offers a range of advanced features and capabilities. It can capture data from various documents, including invoices, orders, and contracts, and convert them into structured data. Use the data from your business applications (like ERP and CRM) to give you a detailed understanding.

Features

• Fast, accurate, and flexible document processing with AI

• Built to process various document types

• Accuracy improving over time

• End-to-end automation of complex processes

• Out-of-the-box AI solutions

Pricing

It offers Free, Pro, and Enterprise plans, and the pro plan starts at $420 per month

Bottomline

Gain greater visibility into your business operations with UiPath Document Understanding — unlock the full potential of your unstructured information and drive digital transformation in your organization. The software also offers a free trial, allowing you to test its capabilities before making a purchase.

13. Automation Anywhere IQ Bot

Overview

Automation Anywhere IQ Bot is a document processing and automation bot that automates the extraction of data from documents, including scanned images. It’s a smart bot that can learn and adapt to your needs.

Features

• AI-powered document extraction

• End-to-end intelligent automation

• Intelligent document classification

• Extract data using ML technologies

• Powerful validation rules

Pricing

• Prices are not disclosed, but you request a demo.

Bottomline

IQ Bot allows you to capture accurate data faster than ever before, allowing you to focus on more important tasks while still getting the results you need. Try IQ Bot today and start getting the most out of your data.

14. Google Document AI

Google Document AI is a cloud-based artificial intelligence (AI) platform for document processing and data extraction. Google Docs AI simplifies your document processing and data extraction tasks with accuracy and speed.

Features

• Enable workflows for getting things done in Chat

• Generate new backgrounds and capture notes in Meet

• Brainstorm, proofread, write, and rewrite in Docs

• Draft, reply, summarize, and prioritize your Gmail

• Bring your creative vision to life with auto-generated images, audio, and video in Slides.

Pricing

It offers two tiers of pricing plans: Standard and Advanced. Standard offers basic document parsing and NLP capabilities, while Advanced offers additional features such as entity extraction, custom entity recognition, and the ability to train custom models.

Bottomline

Benefit from improved accuracy, increased efficiency, and cost savings with Google Docs AI. Make your workflows more efficient, predict risks accurately, and save time for important tasks — get started with Google Doc AI today!

Comparison of Intelligent Document Processing Software

What is Intelligent Document Processing Software?

Intelligent Document Processing (IDP) software is a system designed to process and manage large volumes of unstructured data contained within documents.

IDP solutions utilize various technologies such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) to understand the content of documents and extract meaningful insights.

It’s also a delivery system. Your IDP will transmit the information to any ERP, BPM, RPA, iPaaS, workflow tool, repository, or line of the business system after extracting the important data.

Conclusion

Intelligent document processing software can help businesses streamline their document processing and improve their efficiency and productivity.

Their ability to streamline document processing is a valuable investment for any business looking to improve its efficiency and productivity.

When choosing IDP software, it’s important to consider factors such as accuracy, speed, customization, and integration with other business applications. You should also consider the total cost of ownership and the ROI of the software.

By choosing the right IDP software, you can improve your document processing and gain a competitive advantage in your industry.

About the author

Patrick

Patrick Gruber is homeless because
he made his dream of being a digital nomad real.

He started as a developer, ventured into Amazon FBA business, invested in the market, founded a Cardano Stake Pool, and started his blog in 2022.

His blog shares his insight into the LIMITLESS possibilities of life.

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