Best Intelligent Document Processing Software in 2024

Intelligent Document Processing solutions assist enterprises with document management, streamlining business processes, and enhancing workflows. With so many alternatives, it might be difficult to choose the ideal IDP solution. 

If you are considering taking the paperless route in your day-to-day business operations, here are the ten best IDP software you can consider. 

Let’s jump right into it:-

Top 10 IDP software for your business in 2024

OCR software is utilized to translate characters from scanned pictures and journal article documents into digital text with the purpose of expediting processing and streamlining electronic document storage. Modern OCR technologies are cloud-based and can digitize several document formats in a matter of minutes. 

Here is a list of the ten best IDP solutions for your company: 

1. Docsumo

A strong AI-driven platform for the automated collection, extraction, or processing of data from many different types of documents. Ingenious OCR, AI, and Machine Learning algorithms power Docsumo's digitization and form-conversion of documents. The API models are trained to recognize and extract information from different document formats. Once APIs are proficient at understanding the documents that they want, users will be able to upload large quantities of files without having to examine each one individually.

Top Attributes

• Intelligent OCR Image or data capture and transmission 
• Data validation rules 
• Document data extraction 
• Batch processing 
• Automatic document classification 
• Multiple output formats 

Pricing

Pricing starts at $500 per month.

Pros

• Document AI partner of premier lenders and insurers.
• Allows for customization. 
• Excellent customer support. 
• Integration with essential third-party business software. 

Cons

• API documentation requires additional depth. 
• Few document type APIs are in the developmental stage. 

2. Hyperscience

Hyperscience is one of the best IDP solutions in the market. It uses Optical Character Recognition (OCR) to turn scanned papers, PDFs, and other images into searchable and editable digital documents. The program is compatible with both Windows and Mac operating systems and was developed primarily for business people. 

Top Attributes

• Indexing 
• Multi-language support 
• Extraction of 
• Text formatting 

Pricing

There is a free version of the program, however it only has basic document reading features. Access to further services, including OCR capabilities, begins at $1.95 per month. 

Pros

• Reliable brand value. 
• Integrate seamlessly with other Adobe suite solutions. 
• bespoke mobile applications 

Cons

• Advanced features are available for an additional fee. 
• Package for recurring subscriptions 

3. Rossum 

Rossum assists users in the organization, manipulation, and processing of all incoming documents. It is particularly handy for invoicing processing. It employs Artificial Intelligence to scan and process a multitude of documents, regardless of document style and format variations. Rossum also enables its users to add in-depth integrations, semantic coding, and to get automatic confirmations, requests for edits or corrections, and notifications regarding document conversions that are configured to meet business needs. 

Top Attributes

• Zonal OCR
• Indexing 
• Multi-language support 
• Multiple output formats 
• Metadata extraction 
• Text formatting 
• Image pre-processing 

Pricing 

Rossum provides a free trial as well as a free version. Contact them to learn more about their personalized pricing structure. 

Pros

• AI-driven data extraction. 
• Excellent client assistance. 
• User-friendly interface. 

Cons

• Integration through API may be challenging. 
• Certain capabilities need manual intervention. 
• Finds it difficult to process large-sized files. 

4. Infrrd

Infrrd turns photos, paper documents, and PDF files automatically into text that is searchable and editable. Infrrd allows you to convert and manage your documents with only a few clicks. It can sign, modify, and combine papers, and its speed while converting documents between different file formats is exceptional. With its intelligent OCR data capture technology, users may also extract texts from photos. 

Top Attributes 

• Iterative processing 
• Indexing 
• Text formatting 
• Multi-language support 
• Multiple output formats 

Pricing

There is no free trial or free version of Readiris. Per feature, the program is accessible for a one-time fee of $33.56. 

Pros

• Rapid reading and parsing abilities. 
• Clean UI. 
• High precision. 

Cons 

• Few keyboard shortcuts available. 
• There are few possibilities for plain text files. 
• There is no "copy to clipboard" option. 
• Costly considering the minimal functionality. 

5. Docparser 

With its Zonal OCR technology, Docparser is able to recognize and extract data from image-based documents. Docparser is capable of extracting tabular data, configuring custom parsing rules and intelligent filters, and performing strong picture preprocessing. Users may utilize Intelligent Document Processing Software barcode and QR code scanning technologies when reading papers and transmit parsed documents directly from the platform to various Cloud applications. 

Top Attributes 

• Data aggregation 
• Data publishing 
• Contact (phone or email) extraction 
• Zonal OCR based data extraction

Pricing 

There is both a free version and a free trial of Docparser. The pricing structure is feature-based and ranges from $39 (Starter) to $149 (Premium) (Business). You can contact them for business needs. 

Pros 

• Platform-independent cloud service. 
• Cost-effective per-page price. 
• Available templates for several categories. 

Cons 

• No auto-recharge feature. 
• Complex parsing rules can considerably increase parsing time. 

6. ABBYY Flexicapture

ABBYY Flexicapture has high-end features for converting scanned photos and PDFs to editable formats like text and tables. ABBYY Flexicapture helps organizations automate many administrative processes, reducing the need for manual data entry and freeing up employees to focus on higher-value activities. The software improves efficiency in digital workplaces by facilitating the scanning, digitization, retrieval, modification, security, collaboration, and sharing of a wide variety of documents.

Top Attributes 

• Intelligent OCR technique 
• Iterative processing 
• Text formatting 
• Multi-language support 
• Multiple output formats 
• Image pre-processing 
• Metadata extraction 

Pros

• Simple to use, having a straightforward user interface and extensive functionality. 
• Can recreate tables and their contents with ease. 
• Strong multilingual support. 
• A great level of precision. 

Cons 

• Various user accesses need multiple licenses. 
• No mechanism for combining numerous documents into one. 

7. Kofax OmniPage Ultimate 

OmniPage Ultimate makes it simple to convert documents into versions that are editable, searchable, and shared. OmniPage simplifies document workflows for organizations and enables company owners to accurately digitize data with minimal effort. It can transform business-critical documents into forms that can be edited and transmit them to pre-programmed business procedures. Additionally, the OCR system may send numerous files to any public or private business network. 

Top Attributes 

• Indexing 
• Iterative processing 
• Text formatting 
• Image pre-processing 
• Multiple output formats 
• Metadata extraction 

Pricing 

OmniPage Ultimate, which has OCR capabilities, costs $499 for a single license that may be installed on a maximum of two Windows OS workstations. 

Pros 

• User-friendly UI. 
• Trainable engine. 
• Makes automation feasible. 

Cons 

• Due to slow processing rates, prone to freezing and lagging. 
• For low-resolution inputs, accuracy is compromised. 

 8. Google Document AI 

Google Doc AI enables users to process PDFs, invoices, payment forms, and other document formats. It employs algorithms based on artificial intelligence to improve data accuracy and minimize the amount of manual human checks. With a few clicks, you can save processing costs, assure regulatory compliance, and extract information from various documents to improve customer experiences. The program is capable of processing billions of documents every day, and the platform's computer vision technology enables users to interpret and scan information from scanned photos and unstructured words. To improve the accuracy of data extraction for AI models, users can use human reviews, data validation, and custom parsing features. 

Top Attributes 

• Combines parsed data with the Google Graph. 
• Multi-language support 
• Enhance document data with intelligent analysis 
• Converts to PDF and is compatible with several Cloud products 
• Text editor, form parser, and splitter for documents 
• Human feedback in the loop (HITL) 

Pricing 

Beginning at $65 for 1000 pages 

Pros 

• Highly usable, scalable, and easily accessible data insights are provided. Reduces the potential for error and streamlines time-consuming record-keeping processes. 
• Uses deep learning to recognize over 200 different languages and supports many more. 
• Simple and fast Cloud ecosystem deployment.

Cons 

• Customization of existing APIs may be time-consuming and labor-intensive. 
• Constant human interaction required to train the AI model 

9. Nanonets

Nanonets Python-based OCR program guarantees great text accuracy.  Nanonet’s OCR engine uses trained LSTM models to properly extract and interpret data from a range of documents. It provides support for older programs and maintains its primary repository on Github. Its newer versions incorporate capabilities like layout analysis, picture input, multi-column text, equations, etc. 

Top Attributes 

• Capture data from various sources, including PDFs, invoices, and receipts, and transfer it to destinations like spreadsheets, databases, and cloud storage.
• Extract data from diverse document types, including tables, forms, and invoices, automating tasks like data entry and reporting.
• AI models continuously learn and improve, enhancing the accuracy of data extraction over time, even for complex documents.
• Seamless integration with various workflows, including CRM and ERP systems, enabling automated data extraction and process optimization, saving time and resources.

Pros  

• Excellent letter recognition, even with handwritten text. 
• Utilizes deep learning to extract data. 

Cons 

• Numbers may get distorted. 
• Requires advanced technical expertise. 
• As it is a command-line OCR, it lacks a user interface. 

10. Amazon Textract 

Amazon's fully-managed machine-learning technology automatically gathers important data from a wide range of sources. Selective Context Attentional Scene Text Recognizer (SCATTER) is a one-of-a-kind tool in Amazon Textract that makes use of computer vision technology to isolate text from scanned images with complex backgrounds. In addition to being able to read data from a wide variety of formats, it can also recognize a wide range of monetary symbols, letters, rows, and columns.

Top Attributes 

• Cloud-based software 
• Extraction of 
• Table extraction 
• Handwriting analysis 
• Bound cartons 
• Workflow administration 

Pricing 

Textract OCR bundles range in price from $0.60 to $1.00 per thousand pages. This price varies based on usage and location. 

Additionally, the organization gives one thousand complimentary pages every month for the first three months. 

Pros 

• Excellent performance for process automation. 
• Combines optical character recognition with artificial intelligence. 
• Flexible charging model. 

Cons 

• Needs to increase precision. 
• It may not function as intended for certain data types. 

Business advantages of IDP solutions 

IDP solutions for organizations are able to sift through vast quantities of data and extract vital information from them. IDP for companies is used to automate fundamental business processes related to document workflow management and delivers the following benefits: 

1. increased efficiency 

IDP software can extract data from numerous sources, organize, and classify it. Using these solutions, employees may save time and effort on manual processing by automating data entry. 

2. Reduces operational expenses 

With IDP technology, businesses can handle documents without incurring additional costs for corrections or worrying about human mistake. IDP technologies replace paper-based documents with digital counterparts, allowing users to conserve physical storage space and securely back up data in the cloud. Cost reductions in physical document storage result in reduced shipping expenses and further savings in printing, supply chain logistics, labelling, etc. 

3. Superior data compliance and security 

Paper documents are susceptible to theft, loss, and damage during the sharing and transferring processes. In addition, they have legal and regulatory compliance difficulties, which OCR solutions address, hence addressing the users' data privacy and security concerns. 

How does Docsumo compare to other OCR software? 

Docsumo is an AI-based document data capture system and one of the market leaders in intelligent OCR. Listed below are the distinctions between Docsumo and other OCR systems. - 

1. Real-time document fraud detection ‍ 

Whether it's a scanned picture, photo on photo, PDF, or manipulated document, Docsumo can detect patterns of fraud across several documents in real-time and guarantee that data is pulled from authentic sources. 

2. Simple to deploy and integrate

It does not take Docsumo months to get operational. Docsumo does not require customers to commit to certain price models; instead, it offers subscriptions on a pay-per-use basis. You may extract as many documents as you like, process them, and the platform will charge you depending on your usage. 

3. Validation of documents and analytics 

With Docsumo, users may configure unique parsing rules and experience the extra benefits of predictive analytics by generating insights from data. The software can classify objects on a line-by-line basis and gives over 100 distinct indicators that businesses can use to analyze extracted data. 

4. Instructions and client enrolment 

Docsumo provides new users with a free trial on the official website and aids businesses with onboarding in as few as three sessions. The platform is highly intuitive, beginner-friendly, and the user interface is simple to navigate for clients. 

5. STP for document processing

Docsumo enables firms in the insurance, commercial lending, real estate, logistics, and other industrial sectors to achieve over 95% STP when it comes to processing documents end-to-end.

6. Excellent customer support 

The customer service crew at Docsumo is extremely dependable and available around the clock. In contrast to other OCR services, customers may ask questions via live chat and receive prompt replies.