Gartner defines intelligent document processing (IDP) solutions as specialized data integration tools enabling automated extraction of data from multiple formats and varying layouts of document content. IDP solutions ingest data for dependent applications and workflows, and can be provided as a software product and/or as a service. Organizations receive and process documents in multiple formats to enable activities such as onboarding new suppliers, receiving applications for loans or insurance claims. This results in large numbers of documents, the content of which is designed for people to comprehend rather than machines to process. Extracting data from content is essential for document processing and the automated activities this supports. IDP solutions fulfill this role, augmented by and potentially replacing people.
Gartner defines the invoice-to-cash (I2C) applications market as cloud-based applications that enable corporate controllers to automatically manage collections and apply customer payments to invoices. I2C applications typically gather, disseminate, track and analyze data from and to internal and external sources. They make I2C processes more efficient and effective, including managing and monitoring deductions, disputes and credit risk. They also typically can ensure invoices are delivered to customers and that customers have options to pay them. I2C applications enable I2C transaction processing across multiple ERP systems. Organizations use I2C applications to collect and apply customer payments to open invoices, perform credit and collections activities, manage deductions and disputes, and deliver and present invoices to customers for payment. I2C applications are cloud-based tools that provide organizations with a standard way of processing across ERPs, while creating flexibility for buyers in how they receive or access invoices as well as pay and dispute them. I2C applications allow an organization to connect and exchange data with multiple ERP systems and other operational tools, such as customer relationship management tools, as well as with partners such as credit and collections agencies, logistics providers, banks and payment service providers. They use data to determine credit risk, automate collections and cash applications activities as well as help manage the resolution of deductions and disputes. Such activities result in faster collection of cash, improved visibility to cash flow, an improved customer experience and reduced process cost.