This guide provides all the information you need to understand what ocr technology is, the benefits it offers, and how to best use this technology in your business context.
What is Optical Character Recognition (OCR)?
Optical Character Recognition (OCR) is the electronic conversion of text input, handwriting, or printed images into machine-coded text.
Best OCR software allows you to digitize many paper-based documents in multiple languages and formats into machine-readable text, which not only simplifies storage, but also allows anyone with a single click on previously inaccessible data. It will be available. Consider the number of paper-filled archive boxes in a city or government basement. Such images and documents can be scanned as documents, document photos, scene photos (such as signboards and sign text).
Benefits of OCR Technology
After converting the scanned file to readable text, you can save the scanned file in .doc, .rtf, .txt (easiest), pdf, and other formats. These files are easy to find on almost any system.
Maybe you want to change an old contract you wrote many years ago or fix an old will. After digitizing a document using OCR, you can use a word processor to edit the document instead of typing the entire document.
Once an OCR-scanned document is available in a shared database, it will be accessible to anyone who has access to that database. This is especially useful for banks that can see their customers’ past credit history anytime, anywhere.
Another use is to make government archives available so that grandfather’s land and property records or birth certificates can be found instantly and anywhere.
Digitization reduces the storage space required for storage from the entire room (if not a “room”) to bytes on the server, increasing productivity. Even unusable paper archives (in the meantime) can now be recycled.
Instead of storing expensive paper duplicates or triples in the form of paper, you can make as many digital backups as possible at a low cost. In addition, OCR offers significantly greater sustainability in document management.
The latest OCR can handle many languages, from Arabic to Indian to Chinese. This means that you can search for works in one language, digitize them, and translate them into other languages.
This task is simplified by Unicode standards and machine learning-based computer translation programs (such as Google Translate). This will almost eliminate the need for professional translators..
How will OCR help your business?
OCR technology has several advantages as a step towards digitalization. Businesses often have very large amounts of data and documents such as contracts, invoices, official forms, licenses, certificates, tariffs, and catalogs.
After digitizing, you can compare them to some other digital document. Just compare the documents and you’ll get the best prices, services, terms and more. You can use OCR to check if the signed contract does not deviate from the original terms and conditions. Checks can also check the correct amount and compare invoices. Digitizing checks also gives you access to state-of-the-art analytics that can inform you of long-term improvements in your business.
You can find loss presenters, tax avoidance and overpayments, etc., which can save you a lot of money. While these are really the benefits of digitization, OCR technology is an important first phase in the conversion of analog recordings.