An overview of the benefits of OCR technology

An overview of the benefits of OCR technology
5 min read
20 October 2022

OCR is an abbreviation for Optical Character Recognition. It is a technique that converts scanned text into searchable and editable digital files. How does OCR accomplish this? OCR software scans scanned pictures and generate a layer of hidden text behind the image for your computer to read, identify, and search. Let's go through the specifics below.

What is the Significance of OCR?

According to Gartner, 90% of big firms will have deployed robotic process automation by the end of 2022. (RPA). The growing popularity of RPA emphasizes the significance of OCR technology, which translates written or printed text into a machine-readable format.

The solution is to use OCR-enabled document management software. Optical character recognition is the most crucial aspect of any paperless document management system. The OCR program identifies printed text and allows you to search inside it. A user can extract text from an image or document easily by using an image text converter

What Are the Many Kinds of OCR?

OCR technology is classified according to its use and application. Some instances are as follows:

  • OCR (optical character recognition) captures typewritten text by capturing one glyph or letter at a time.
  • Optical character recognition (OCR) is a technology that captures typewritten text one word at a time.
  • Intelligent character recognition (ICR) uses machine learning to recognize handwritten or cursive text, one glyph or character at a time.
  • Intelligent word recognition (IWR) is a technology that collects handwritten or cursive text one word at a time.

What are the advantages of optical character recognition?

Although the underlying technology of OCR is rather complicated, the benefits are apparent. The primary use of optical character recognition (OCR) technology is that it streamlines data entry by allowing for easy text searches, editing, and storing. The machine-readable text created by OCR may be readily read using PDF readers or screen reader programs, allowing those who are blind or have visual impairments to understand what is on the screen.

Other advantages of OCR technology are as follows:

  1. Paper documents can be digitized to save space
  2. Save time by eliminating the need for manual data entry
  3. Users' access to information should be improved
  4. Increase the efficiency of the document workflow process

 

OCR When Used With An Artificial Intelligence Solution

For simple software, OCR accuracy is roughly 98%. Using AI technologies will boost accuracy even further. Intelligent Data Capture AI technology, for example, enhances OCR invoice recognition. It learns naming conventions and template formats using a deep learning algorithm with occasional aid from a human operator to identify and record accurate data automatically. This allows the AP crew to go from the back office to the front lines. Artificial intelligence technology enables organizations to make better operational decisions, lowering costs and improving customer experience.

Who is OCR Useful For?

OCR can help any organization that wants to get rid of paper documents. Aside from the more widespread use cases described above, OCR is heavily used in industries ranging from banking and finance to healthcare, legal, and accounting. Here are some examples of frequent OCR applications in many industries:

 

  1. To acquire patient information such as therapy, lab tests, and physician's notes.
  2. Local governments may turn decades of public data into searchable digital files.
  3. Law firms can digitize years of documents and cases.
  4. Universities can complete HR documentation for students and workers more quickly.
  5. Organizations may ensure that payments are made on time by smartly gathering data from bills, invoices, and receipts.

 

How does Doc's vault Assist with OCR?

As a pioneer in document management software, Docs vault is continually offering solutions for enterprises to go paperless. As the world transitions to digital technologies, more firms are implementing OCR.

To help you optimize your business operations, Doc's vault provides the following OCR solutions:

Software for Simple Optical Character Recognition (OCR)

The OCR add-on automatically scans and recognizes text in documents scanned or imported into Docsvault and transforms them into searchable PDFs. The indexing engine subsequently indexed the detected text, enabling document searches based on words, phrases, and numbers in their content.

The capture of Intelligent Data

Artificial intelligence

Docs vault Advanced Capture Solution can help you take your automation to the next level (AI). Docs vault streamlines document-intensive workflows by automating the capture, categorization, and extraction of critical data.

What is the Process of Optical Character Recognition?

The optical character recognition program works as follows:

Document Scanning

OCR-scanned papers are the first stage in digitization. The light sections of the scanned photos are treated as backdrops by the OCR software, while the dark areas are treated as text.

Preprocessing

The OCR program cleans the pictures first by deskewing or tilting the scanned documents to correct the alignment issue that occurred while scanning, despeckling or eliminating any digital image spots, smoothing the borders of text images, and so on.

Recognition of text

OCR software then processes the images to recognize alphabetic letters or numeric digits from printed text.

Post Processing

The OCR system turns unstructured data into searchable and editable information for further processing.

 

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Tom Holland 2
Joined: 1 year ago
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