I want to talk a little bit about how this OCR process works. For example, OCR helps banks read different lending documents. If someone submits a bank statement, OCR can make the process easier.
You can use OCR software to upload documents to Azure. Uploading the documents to the cloud is like when you physically upload a document. Once the documents go online, automated technologies take over.
In this case, Azure Blob Storage stores the data and creates a trigger that goes to an Azure Function. That Azure Function then sends an API call to a Computer Vision API. Computer Vision reads the lending statement.
During the webinar, we scanned a bank statement with five pages of data. It reads the information quickly and then spits out all the income and expense lines on the account. You can go through the financial data much faster. The added benefit is that the Azure Cosmos Database stores all this info.
Again, you don’t have to do anything once the data is in the Azure Blob Storage because this is all automated. Suppose you were reviewing data in the past. You need to check the document manually line by line before storing the data afterward. The OCR automation makes the process more robust.
OCR is a powerful tool to help organizations with their data extraction process. You can scan documents and have them read at a rate that would not be possible less than a decade ago. Cloud tools like Microsoft Azure and Amazon Web Services make this easier.
We can make the OCR software setup even more accessible. Please set up a free 1-hour consultation with our team today.