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Before investing, customers want to see the results IDP has delivered in other businesses’ use cases and understand how the benefits can be applied to their own. This is why we decided to disclose information about how more than 10,000 ABBYY customers worldwide are leveraging the various capabilities of our intelligent document processing portfolio, ABBYY Vantage.
It’s no surprise that business and technology leaders are continuing to look for opportunities to improve cost and productivity efficiencies within their organization. We find that customers often come to ABBYY when they are looking for new ways to optimize their processes to achieve greater operational excellence, improve the customer experience, and accelerate business value. They have often heard that intelligent document processing (IDP) has the potential to help them achieve these goals by making the revenue-generating information that’s trapped within their business documents more accessible.
But before investing, customers want to see the results IDP has delivered in other businesses’ use cases and understand how the benefits can be applied to their own. This is why we decided to disclose information about how more than 10,000 ABBYY customers worldwide are leveraging the various capabilities of our intelligent document processing portfolio, ABBYY Vantage. Using internal data generated through our IDP technology, we observed several interesting trends in three key regions (North America, Europe, Asia-Pacific) that provide insight into which types of documents enterprises are succeeding with IDP most.
While certain trends demonstrated global impact, such as the need to accelerate processing of invoices and identity documents, each region demonstrated a different focus area for their most requested document processing skills. This article summarizes the top document types being prioritized for IDP in each region, along with examples of how ABBYY customers are using IDP to achieve the business results they desire.
ABBYY customer data from the United States and Canada revealed that the top three document processing priorities are for IRS 1040 tax documents, identity documents, and invoices. As the data was pulled in Q4 of 2022, the emphasis placed on tax documents can be attributed to the upcoming tax deadlines in April for both the US and Canada.
Invoice processing has long been a priority for ABBYY customers and represents a key document use case for IDP that repeatedly delivers significant impact on processing efficiency and effectiveness.
ABBYY customer JLL—a commercial real estate giant—used ABBYY’s cloud-based IDP solution to save millions of dollars by automating invoicing and payment processes. This global Source-to-Pay (S2P) automation initiative exceeded the Fortune 500 company’s business goals and led to the CIO 100 award, acknowledging ABBYY and JLL’s success in setting a new standard in Source-to-Pay.
In Europe, document processing priorities for ABBYY customers focus highly on transportation-and-logistics-related documents, with 41 percent requesting document processing skills for air waybills and 27 percent requesting skills for customs declarations documents and international consignment notes. We attribute this trend to the high prevalence of commerce between the European Union (EU) and non-EU member countries, particularly following Brexit.
ABBYY customer Carlsberg Group, a global leader in brewing, uses ABBYY IDP to automatically capture incoming orders and transfer them immediately into their SAP system. This saves up to eight minutes of manual work per order, depending on the region. In Sweden, this saves over 140 hours per month and yields a touchless order processing rate of 92 percent. Carlsberg also relies on IDP for delivery note scanning in warehouses, accelerating the registration of delivered goods, and providing a more holistic overview of the entire delivery process.
In Asia-Pacific, the need for international shipping document process skills also resonated, with 35 percent requesting IDP for air waybills and sea waybills. Identity documents and financial documents (bank statements, invoices) are high in demand as well. These trends reflect the high volume of exports and international commerce originating from the APAC region, as exports begin to rise following the decline from the COVID pandemic.
The Tokyo district of Nakano-Ku, an ABBYY customer, reduced their work volume by 30 percent and cut outsourcing costs by 25 percent by using IDP to digitally transform its resident tax collection process. Their solution automated the extraction of over 100 different handwritten and printed paper forms of various sizes and shapes, which had previously been done manually. Even with the differing tax rates, structures, and data formats of districts across Japanese local governments, IDP offers a repeatable and scalable solution to be used nationwide.
In addition to revealing the top five most requested document types for IDP in each region, the ABBYY Global Intelligent Document Processing Trends & Outcomes Report also shares data about providers of partner IDP solutions, as well as connectors that our customers are using to integrate IDP into third-party automation platforms from Microsoft, UiPath, and others. Based on what we have observed with our customer base, we identify current trends that are driving IDP adoption in the market today and recommendations for implementation.
The full report can be accessed here.
Slavena Hristova
Director of Product Marketing, Vantage group at ABBYY
Slavena Hristova is Director of Product Marketing, Vantage at ABBYY. Hristova leads the global product marketing of the ABBYY Vantage product line. She manages the complete product lifecycle from market requirement and go-to-market strategy development, to sales enablement and training offerings for channel partners. She has several years of experience in product management and marketing in the areas of text recognition, information and document management.
Connect with Slavena on LinkedIn.
