How OCR Technology can Boost Your Business

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How OCR Technology can Boost Your Business

Source – http://www-scf.usc.edu/~mizhang/research.html

OCR recognition technology has dramatically changed the way businesses operate since its launch in the nineties. OCR has developed over the last decades to become an indispensable part of business operations. OCR has the power to read, analyze, and replicate physical documents, storing them in a central database for review.

OCR technology can render any document you need, discerning symbols and languages and accurately while accurately reading fonts, colors, and layout. Everything about the original document can be rendered into a completely legible copy that is immediately accessible to all employees.

OCR is often combined with smart systems such as pdf export that allow information to be pulled directly from the file source and replicated in an electronic format. By using OCR and PDF technology, you create data that is now freely available to employees and permanently archived in your records, eliminating any possibility of lost files due to human error.

OCR technology has come a long way since its inception and the current formats are now able to determine document backgrounds, clean up poor, distorted images, and even read faxes. Many organizations now use OCR technology to analyze, process and capture all data coming into the business. With an effective OCR system, it is now possible to run a totally paperless organization.

OCR has incredible functionality, here are the benefits your company will enjoy from implementing OCR in your business.

  • OCR systems are custom built to your specific needs and evolve as your business grows.
  • Eliminate manual data capturing.
  • Reduce costs associated with filing and human handling of data.
  • Improve data accuracy.
  • Keep data on hand and on-demand with the power of the cloud linked to mobile devices.
  • Expedite documents from customers into your workflow and share them with your team members.
  • Minimize manual sorting of documents.
  • Stay in compliance with local regulations around handling data.

OCR technology offers a business so much more than just data storage. Businesses around the globe have implemented this technology and are seeing positive results in productivity and data storage. Here are some examples of effective use of OCR.

The Benefits of the Cloud for Business

The power of the cloud for business has enabled companies to streamline their processes and execute on their strategy with a faster response time. The cloud allows all your company data to be stored securely, without the need for physical space to host a server on site.

The cloud has a multitude of functions for businesses, here are a few that your company could benefit from.

  • Immediate, on-demand access to all your company data.
  • Secure, encrypted files that cannot be accessed by anyone outside of the company.
  • Unlimited storage and immediate accessibility.
  • Synchronization with all devices and databases in the company.

Automating Invoicing

Scan paper invoices, or import digital documents straight onto your company’s system. OCR automatically extracts and analyzes the data to ensure its accuracy. When the data is entered into the system, it can be setup to immediately be transferred to the accounting or finance departments. OCR makes accounts payable a lot more efficient.

Automating Forms

OCR can automate all of your forms in much the same manner that it replicates invoices on the system. Automating forms saves time and streamlines administration processing with no loss of data between points. Scan, or import a form and the OCR technology will replicate it with the same efficiency and accuracy as invoice replication. Once the document is finalized it is imported to the document management system (DMS) where it is stored and categorized. All you need is a  and an OCR to ensure your data is accurately captured and never lost, eliminating human error completely.

The Final Word

OCR technology has become indispensable for companies all around the globe. OCR improves business efficiency and completely changes the way data is captured, stored, and handled in your company, improving the way your company does business in the digital age.


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Author: Firdaus

I work as an IT consultant in the Toronto area and I love to write blogs about a variety of subjects. My passion for writing stems from the desire that everyone should have access to meaningful information. Whether it is a blog about society, culture, technology, or social media, I don’t want to miss the opportunity of sharing my thoughts with my friends and audience. Since I believe in mutual exchange of ideas, I am always on the lookout for a feedback on my writings.

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