Everything You Need to Know About OCR Technology

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OCR technology has come a long way since it was first created in the 1990’s. OCR technology allows you to take your business administration and data capturing to a new level of operating efficiency. OCR technology has the ability to identify characters, symbols, and languages, as well as discern background colors and read images. This revolutionary technology is now used by businesses all around the globe to improve their processes and create reliable data and document storage that is immediately accessible to their employees.

If you rely on paper processes to organize your business, then you can definitely benefit from implementing OCR. OCR makes data capturing, storage, and management a breeze. OCR is able to pull data from forms and other documents, compiling them into PDF format and archiving them in the relevant category of your database. There is no longer any need to waste valuable employee time on data capturing and filing.

OCR is able to identify documents and read them while touching up poor quality photos and images in the document. OCR has so many advantages when used correctly, it is no wonder that it has been adopted by the majority of multinational conglomerates. However, OCR isn’t just for big business, it can help your small to medium-sized business as well.

OCR has changed the way businesses operate. Here are five of the top features of an OCR and how they can benefit your business finances, operations, and administration.

#1 Key Features and Benefits of an OCR

  • No more manual data entry or physical document storage.
  • Reduce operating and administrative costs around data collection, handling, and storage.
  • Move to a totally paperless operation.
  • Never lose a document ever again.
  • Increase data accuracy and searchability.
  • Improve customer service by keeping your client data on hand.
  • Your OCR will grow with your business, evolving functionality as you need it.

#2 The Benefits of the Cloud

Cloud technology has to be one of the most important technological innovations of the new millennium. Nowadays, everything is ‘stored in the cloud’. Using the cloud to handle your business data is a pragmatic solution to the traditional use of filing rooms and admin clerks. The cloud allows you to directly upload documents from your OCR into storage where they are effortlessly accessed by the members of your team. This allows team members to update notes, client files, or projects in real-time while simultaneously notifying the team of changes.

Cloud technology continues to evolve, with the majority of innovations coming in the security and privacy sector. Privacy and security have become hot topics over recent years as cybercriminal invent new methods to compromise company’s firewalls and steal their sensitive data. Using the cloud is safe and reliable, giving you immediate access to any data you need in a secure environment.

#3 Automate your Mailroom

Does your company use a mailroom? With OCR technology, all incoming email and faxes are immediately identified and sorted by the OCR and then delivered to the relevant teams in the organization.

#4 Automate forms and Invoices

Automate your invoicing processes for receiving and collecting invoices. OCR can identify incoming invoices and shuttle them to the finance department or accounts payable division of the company. Outgoing invoices can be created on the system and then emailed to clients. Consultants are available to show your team how to OCR PDF files and retrieve them with next to no effort.

#5 Improve Document Security

Using a filing clerk and a file room is asking for trouble in today’s employee environment. Company data and forms can be easily misplaced, lost, or stolen by corrupt employees. With your data in the cloud, and an OCR to manage it, you now have an added layer of security around your data that is not reliant on human administration. The data is stored in a transparent internal environment and controlled by the team.

Wrapping Things Up

Your business needs OCR technology. Step into the digital era and arrange an appointment with an OCR specialist to tailor a custom OCR solution for your business. Enjoy streamlined operations and immediate access to your data wherever you are. With an OCR solution, you have the ability to elevate your business operations and administration to internationally recognized standards.

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