Data is the new oil. However, the value from your data can only be realised when that data is digitised 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 digitisation technology that recognises texts in images and converts these images of texts into machine-readable text data.
Enhanced with AI, OCR-based technologies can intelligently recognise 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?
Capture any type of document, electronic or paper, from any source
Identify and sort the documents using machine learning (ML)
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.
Users receive alerts on any error or exceptions. Allow manual overrides.
Automatically send data, on-premise, hybrid, or cloud
Connects to RPA, BPM, ERP, and more
Benefits of OCR and digitisation
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
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 organisation allows for analysis and optimization by different departments
Examples of automation use cases using OCR, RPA, and AI tools
Processing and following up on customer feedback
Capture large volumes of handwritten customer feedback forms
Automatically key customer feedback into the CRM
Understand and classify these feedback into different categories for follow up by the relevant departments
Automatically key invoice information into ERP system
Understand and classify invoices for follow up by the relevant departments.
Application form handling
Capture large amounts of handwritten application forms
Understand and classify free-form texts like comments, interests, and other background information
Automatically enter relevant classification information into a marketing automation software for personalised lead nurturing
Do you need to know more use cases? Contact us.