Intelligent Document Processing: Should You Build Your Solution or Buy an Existing One?

Business operations hinge on documents and communications, forming the backbone of virtually every process, from sending emails to collaborative chats. It’s no wonder that the demand for intelligent document processing (IDP) is surging, with projections indicating a remarkable growth rate of 28.9% annually, reaching $17.8 billion by 2032. In a world where beauty-conscious individuals and sophisticated brands seek efficiency and clarity, understanding IDP becomes a critical advantage.

The Rise of Intelligent Document Processing

IDP combines various AI technologies, like natural language processing (NLP) and image recognition, to streamline how businesses manage documents and communications. As business leaders turn to AI agents—advanced, AI-driven entities designed to complete tasks on behalf of people—document-based processes emerge as prime candidates for automation. This innovative approach not only boosts efficiency but also redefines operational speed when human oversight is integrated with AI capabilities.

Build Your Own IDP System

With many large language models (LLMs) now readily available, companies have the tools to develop custom IDP systems. However, having a toolbox full of shiny resources does not necessarily simplify the construction process.

In a build-your-own (BYO) IDP system, organizations are tasked with creating every component from the ground up or outsourcing various elements to multiple third-party providers. For instance, integrating an external LLM, like ChatGPT, necessitates considerable expertise to tailor the system effectively.

While a BYO system offers the allure of complete control and customization, the realities often prove challenging.

Cost Considerations

Many assume that building an IDP system is more cost-effective than purchasing one. Unfortunately, this often isn’t the case. The resources required for development—including software developers, data scientists, and system monitors—can add up quickly. Additionally, the need for continuous updates and training materials can strain budgets.

Even popular LLMs need fine-tuning and specialized knowledge to align with specific business requirements. Without this tailoring, the system risks inaccuracies, leading to further complications.

Navigating Risk

Relying on a small pool of specialized talent to maintain your IDP system introduces significant risk. With a team that is likely to be small, the number of use cases they can effectively support becomes limited. Moreover, attrition can hinder system performance and sustainability, leaving the organization vulnerable.

According to McKinsey & Company, nearly half of C-suite leaders feel they’re advancing too slowly with AI solutions, primarily due to a shortage of skilled talent.

Complexity and Governance

When building an IDP system, you assume full responsibility for managing complex AI models and platforms. For a large organization, this might mean juggling hundreds of finely-tuned models. Even a system claiming “out-of-the-box” capabilities requires extensive context gathering to operate effectively, which can become overwhelming.

Why Buying an IDP Solution Makes Sense

The alternative to building your own IDP system is purchasing IDP as a service from trusted vendors. There are two primary pathways:

1. Point solutions: These can be integrated with existing enterprise technology.
2. Comprehensive platforms: These offer broader functionalities, including automation.

While you may relinquish some control, you gain several benefits when opting for a vendor-provided IDP.

Accelerated Time to Value

Implementing an established IDP platform typically takes less time than constructing a new one. These systems are field-tested, built from years of experience in various enterprises. With readily available support and resources, businesses can start generating value quickly.

Known for their rapid model customization and user-friendly training processes, IDP as a service platforms help minimize the technological hurdles often faced in DIY solutions.

Mitigating Risks

Choosing an IDP as a service reduces reliance on costly internal resources while transferring maintenance and governance responsibilities to the vendor. These providers guarantee high standards of data security, alleviating concerns about internal protocol compliance.

Enhanced Scalability

Creating a custom system mandates unique connectors and APIs, which can consume considerable development hours. Established IDP solutions come equipped with pre-built connectors allowing for seamless integration, ensuring businesses have access to the latest AI advancements without additional expenses.

For these reasons, IDP as a service proves to be the optimal choice for organizations aiming for rapid implementation, reliability, and accuracy.

Discover the Future of IDP with Robust Solutions

Navigating the landscape of intelligent document processing shouldn’t feel daunting. The right IDP capabilities can empower your business to leverage advanced AI with ease. With constant advancements, investing in a flexible and scalable solution allows you to stay ahead in this fast-paced market.

At UiPath, we are committed to providing organizations with cutting-edge models that evolve with your needs. If you’re ready to transform your document processes and unlock the true potential of IDP, reach out today and embark on your journey toward operational excellence. Your success in this modern landscape awaits!