Optical Character Recognition (OCR) is a technology used to read machine-printed text on a document. OCR is used specifically in automated data capture and automated document classification.
Optical Character Recognition (OCR)
OCR solutions reduce manual work associated with document sorting and data. OCR solutions read the documents using OCR and identify the document and determine what data to extract within a business process.
When integrated with a content or information management system, these solutions can provide extensive benefits for organizations – especially those who have staff devoted to manual document sorting and data entry.
CHALLENGES AND OPPORTUNITIES
Conventional OCR is Slow:
Conventional OCR technology is both slow and unpredictable. For a technology that is intended to improve upon the speed of document management processes, slow speeds can be exceptionally problematic — and the lack of accuracy in OCR can also present some challenges.
Lack of Stability
Due to the issues present, OCR requires large amounts of both technical and human resources. OCR will often require huge volumes of memory and processing speed. This slows down the system and makes it more difficult to scan large volumes of documents.
SOLUTIONS ADDRESSING BUSINESS NEEDS
By reducing the amount of manual effort involved and implementing automation, the process speeds up immediately.
Reducing the amount of required manual work enable you to reallocate staff devoted to data entry to higher-value tasks at the organization.
The solution removes the labor cost associated with manual data entry and document sorting. As business demands grow, technology can grow and eliminate the need to hire additional staff.
FROM THE KNOWLEDGEBASE
Enabling enterprises seize the shared service opportunity
THE AVAALI ADVANTAGES
Avaali helps organizations significantly improve productivity and meet regulatory requirements by ensuring full visibility into both document and data related elements of contracts. Our consultants have a deep understanding of best practices as a result of implementing Shared Service Center automation solutions covering Accounts Payable, Accounts Receivable, Human Resources, Master Data Management, Contracts Management and several other processes for several global accounts. Avaali provides advisory services, implementation and support services to support the unique business process requirements of complex, global enterprises.