Optical Character
Recognition
(OCR)
Data is the new oil. However, the value from your data can only be realized when that data is digitized into a format that supports further processing and analysis using digital tools like Robotic Process Automation (RPA) and Machine Learning (ML).
What is Optical Character Recognition (OCR)?
Optical character recognition (OCR is a data capture and digitization technology that recognizes texts in images and converts these images of texts into machine-readable text data.
Enhanced with AI, OCR-based technologies can intelligently recognize even difficult data like free-form, cursive handwritten texts.
In combination with technologies such as Machine Learning (ML), Deep Learning (DL), Natural Language Processing (NLP), and Computer Vision, OCR powers Intelligent Document Processing (IDP), turning unstructured data into structured data.
How does OCR work?
1 Capture
Capture any type of document, electronic or paper, from any source
2 Classify
Identify and sort the documents using machine learning (ML)
3 Extract
Extract the metadata of documents using business rules and database lookups, fuzzy logic, etc.
Find out information such as vendor names, invoice number, subtotal, etc.
4 Validate
Users receive alerts on any error or exceptions. Allow manual overrides.
5 Deliver
Automatically send data, on-premise, hybrid, or cloud
Connects to RPA, BPM, ERP, and more
Benefits of OCR and digitization
Paperless
There is no need to physically maintain and store paper records, which takes up large storage areas and tend to deteriorate quickly
Instant access to the most updated information
Having the most recent information at all times facilitates better business decisions
Searchable
Data becomes highly accessible and can be retrieved quickly for use in different processes in the company
Visibility and availability of data
The availability of data across the organization allows for analysis and optimization by different departments
Examples of automation use cases using OCR, RPA, and AI tools
1 Processing and following up on customer feedback
OCR
Capture large volumes of handwritten customer feedback forms
RPA
Automatically key customer feedback into the CRM
AI
Understand and classify these feedback into different categories for follow up by the relevant departmetns
2 Invoice Processing
OCR
Capture invoices of varying formats and extract the relevant information
Tip: Use our free InvoiceBot service to do this
RPA
Automatically key invoice information into ERP system
AI
Understand and classify invoices for follow up by the relevant departments.
3 Application form handling
OCR
Capture large amounts of handwritten application forms
AI
Understand and classify free-form texts like comments, interests, and other background information
RPA
Automatically enter relevant classification information into a marketing automation software for personalized lead nurturing
Do you need to know more use cases? Contact us.