We are swiftly heading towards a future where the back office is almost entirely automated. Gartner forecasts that within the next year, 50% of B2B invoices will be processed without any manual intervention, with this figure expected to soar to 80% by 2030.
While we haven’t quite reached this point—currently, 57% of invoice data still requires manual entry—the transformation is clearly underway. The driving force behind this change? The speed, cost savings, and enhanced accuracy offered by modern Intelligent Document Processing (IDP) solutions. These advantages are too significant to ignore, and as Generative AI (GenAI) continues to evolve, we’ll witness even greater advancements in IDP’s capabilities, making it more robust and easier to implement.
At the forefront of this innovation is UiPath. Our approach to IDP is clear: leverage automation, AI, and GenAI to overcome the traditional barriers that have slowed adoption. These barriers include:
- Handling highly variable document formats
- Managing unstructured data
- The complexity of training models
- Scalability challenges
- Security concerns
The future of IDP is here, and it’s being built with automation, specialized AI, and the power of GenAI.