7 Prominent Advantages of OCR Technology to Businesses
Since its advent in 1990, OCR or optical character recognition has gained huge popularity because it can easily identify and distinguish between a great range of languages and symbols. Further it can also recreate the original layout, fonts, type size and even colors in the original document. This has some prominent benefits for businesses. Here are a few.
1. Invoice Automation
Every business, whether small or large, needs to scan hard copies of invoices and import soft copies to the system. When this is done by OCR, such as receipt OCR, the data is validated automatically for certifying accuracy and thus facilitates proper categorization. Next it can be diverted to any accounting or financial system, according to your requirement.
2. Organization of Storage Space
Filing cabinets and piles of files is a usual scene in offices. But this scenario can change with OCR. Even if digitally stored data can be misplaced or accidentally deleted. OCR helps in organizing this data in computers, laptops and other devices.
3. Increased Productivity
Time is money for every business. Making maximum use of productive hours is the aim of every business owner. OCR software helps you in exactly that by reducing processing time of documents by as much as 80%. When manual processes are eliminated, your employees can focus more on other important tasks and their productivity increases.
4. Mailroom Automation
OCR can also be used for automating mailrooms. Here all the inward documents are automatically analyzed, sorted categorically and forwarded to various business teams. OCR helps in scanning documents, extracting data and listing documents in indexes. A company’s system is thus populated and the data can be accessed by teams more quickly.
5. Increased Security
With digital scanning and storage, businesses get increased security for their sensitive data. Paper documents can be lost or destroyed easily. They can even be stolen, misplaced or ruined by pests, moisture, fire and other elements. OCR technology eliminates these possibilities and ensures higher security of your data.
6. Recovery after Disasters
OCR stores the data in electronic format which not only ensures its safety, but also recovery after disasters like fire, flood or earthquake. Digitally stored data can be retrieved fast and thus continuity of your business is maintained.
7. Cost Efficiency
OCR also helps businesses to save costs of hiring professionals that perform tasks like data extraction. Other costs such as copying, printing and shipping are also cut with OCR.
Looking at these benefits of OCR, don’t you think you should adapt the technology for your business as soon as possible?