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Intelligent Document Processing
McKinsey and Hyperscience are uniquely positioned together to accelerate impact from intelligent document processing at scale
Intelligent Document Processing
McKinsey and Hyperscience are uniquely positioned together to accelerate impact from intelligent document processing at scale
What it is
Intelligent Document Processing (IDP) converts documents and images, previously only readable by humans, into machine-readable data sets that can be used to inform critical business decisions, such as paying claims on time, underwriting mortgages, and onboarding new clients efficiently.
It enables organizations to classify, extract, and validate data from multiple complex sources, and turn them into actionable machine-readable data while deploying optimal human oversight.
Check out a demo
After assessing 300+ technology platforms, McKinsey has partnered with HyperScience to accelerate impact from intelligent document processing
Intelligent Document Processing can help by converting documents, previously only readable by humans, into machine-readable data sources
How it works
McKinsey has designed 3 distinct approaches to help organizations develop and deploy Intelligent document processing (IDP) capability
Ingest for insights
Rapidly process “one-off” document backlogs for immediate impact through downstream automation, and analytics driven decision making
Journey redesign
Redesign end-to-end business processes by diagnosing demand for analog processing, digitizing constituent data flows, and streamlining its operational blocks
Shared capability
Build capabilities to consolidate multiple pockets of the organization that process data, into a center with capabilities to ingest, digitize, and manage enterprise data at scale
Impact
IDP solutions can create significant impact through document automation, with high accuracy and short time to market
It can be a significant value driver, especially for Banking, Insurance, Healthcare, and Public sector industries, to realize tangible benefits from their digital investments by providing faster and more reliable service to customers, while freeing up employee capacity to drive broader business goals
70-95%
automation on day
>99%
accuracy
4X
throughput rate
<4 weeks
up and running
Here are some client examples
Help a fast growing financial leading company solve the analog data problem
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We partnered with a US State govt - Dept. of Health to process 1.5M health claims in 6 weeks achieving 100% automation at 97.5% accuracy
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We partnered with a client to digitize account information recons, double the processing speed and quadruple throughput within the first 4 weeks
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We partnered with Global Investment Management and Insurance firm to processes 3M pages annually, with 99.4% accuracy and 95.6% automation
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By working with us, you will have access to
Experts
Our industry and functional experts will be on the ground where and when you need them.
Helpdesk
Our helpdesk will keep doors open and commit to addressing your concerns efficiently and effectively.
Training
We offer coaching and build capabilities for your teams to deliver sustained improvements.
Implementation
We partner with you and co-create a firm path to implementation as part of the project.