Process documents and claims within minutes. Use automated workflows to reduce response time on claims approvals. Reduce errors and cut down on time and costs spent on manual processes. Be sure of your data with more secure and compliant workflows.Learn more
Automate invoice processing. Drive faster and error-free approvals. Save time and get accurate results. Reducing human errors caused by manual work. Improve search and enable users to extract the information fasterLearn more
Simplify document verification. Process financial documents faster. Reduce manual work and errors. Analyze complex data with advanced pattern recognition. Get smarter insights from data on your fingertips.Learn more
Reduce turnaround time from hours to minutes. Cut down your cost of operations when processing several receipts. Reduce manual errors and get precise, searchable and actionable dataLearn more
On average, manual processing of a document takes up to two to five minutes per document, which translates to hundreds of days for a million documents.”
OCR technology allows document recognition 40X faster than manual retyping.
OCR software reduce manual work and paper-based documents providing a great cost savings.
OCR enables businesses to process their paperwork far more quickly and convert any volume or form of data to structured text at an incredibly fast speed.
With the help of advanced pattern recognition technology, OCR extracts every little detail from scanned documents and provides more than 98% accuracy
Millions of medical claims are processed every year. This results in a great deal of paperwork, manual processing, and - in an industry requiring accuracy - a lot of errors. Missing patient records is just one of the problems caused by the high amount of paper in the healthcare industry.
Manage patient records online, focus on productive tasks while reducing paper work reduce errors caused by manual work.
Organize records into an electronic format is much easier with OCR software. Manage any number of medical forms, pharmacy records, clinical notes, or other medical documentation, efficiently.
Eliminate manual work, reduce errors, speed up medical records and claims management while enhancing access to the information.
Manufacturing companies struggle with a lot of email attachments and scanned invoices on a daily basis as they need to manage invoices from several vendors. Initiating approvals and processing payment to the vendors is a cumbersome task and it's often difficult to search for key information about the vendor. It takes huge time and efforts of their employees to find and add information manually into their existing system. Manufacturing organizations can drive faster and error-free approvals by automating their invoice processing.
OCR technology fast-tracks invoice approval process from weeks to minutes.
OCR reduces human errors as staff do not need to add information manually.
OCR increases overall efficiency at work, that helps your staff to focus on completing high-value tasks.
With the help of OCR, it is easy to search documents that helps users to extract the information faster and get smarter data at their fingertips.
Banks and lending enterprises deal with a hundred and thousands of documents every day. Before processing a loan, the loan department call for bank statements from customers. Extracting data from each bank statement can be challenging as the format of the statements from different banks are often different from each other.
Capture comprehensive data accurately and rapidly from lending applications within minutes. Get custom extraction capabilities by training with your own data and providing a few sample documents.
Get more accurate results customized to your needs based on the first output. Leverage human input as needed to generate a highly accurate model.
Reduce turnaround time by automating mundane tasks like manually verifying income, identity and proof of address and more.
While managing invoices is a crucial part of retail business, processing several invoices every single day is never easy. It’s not only time-consuming, the errors caused by manually processing documents also cost huge overheads and might affect your entire accounting cycle.
Capture data from packing lists, scanned purchase orders, printed invoices, and more.
OCR can automatically produce thousands of invoice templates without user interactions to provide more accuracy and reliability.
Enhance the flexibility of reward programs and vouchers using mobile OCR, by scanning the serial codes to redeem them.
Optical character recognition (OCR) is a business solution that helps enterprises to automate data extraction from printed or written text from a scanned document or image file. OCR convert the text into a machine-readable form to be used for data processing like editing or searching.
Today, many companies manually extract data from scanned documents and thus consider documents processing to involve the most manual work out of all back-office functions.
Thanks to the OCR software, as it eliminates manual and expensive processes by minimizing the costs related to the human factor. OCR software automates work in companies and public institutions providing quick access to key data from various sources including graphic documents, PDFs, paper documents, e-mails, faxes and more. An OCR software, when tailor-made, can be trained or configured to automatically read and process any type of document, while accurately extracting text, handwriting, tables and other data without any manual effort.
An enterprise grade system like Azure Form Recognizer can be leveraged to automate your data processing, enhance your data-driven strategies, and enrich document search capabilities.
However, a custom-built OCR solution based on your business needs, applications and workflows enables you to quickly automate document processing and act on the information extracted. For example, to automate loans processing or to extract information from invoices and receipts.
Using OCR technology, an application extracts and analyzes form fields, text, and tables from your documents and converts them into a machine-readable format. Smart document processing solutions including OCR software uses machine learning models to analyze your forms and documents, extract text and data, map field relationships as key-value pairs, and returns a structured JSON output.
There are quite many solutions available in the OCR software market that leverage OCR technology to provide automated document processing solutions that enable you to quickly get accurate results that are tailored to your specific content without excessive manual intervention or extensive data science expertise.
Form Recognizer can also be used to automate your data processing in applications and workflows, enhance data-driven strategies, and enrich document search capabilities.
Form Recognizer easily identifies, extracts, and analyzes document data including:
Business Solutions like Microsoft 365 tools and Azure Form Recognizer are a few of the commonly used technology solutions that leverage AI and machine learning models to extract and analyze form fields, text, and tables from your documents.
Azure Form Recognizer analyzes your forms and documents, extracts text and data, maps field relationships as key-value pairs, and returns a structured JSON output. You quickly get accurate results that are tailored to your specific content without excessive manual intervention or extensive data science expertise.
Similarly, Amazon Textract, a machine learning service that automatically extracts text, handwriting and data from scanned documents that goes beyond simple optical character recognition (OCR) to identify and extract data from forms and tables.
Textract uses machine learning to read and process any type of document, accurately extracting text, handwriting, tables and other data without any manual effort.
(We are using cloud-based services and hosting) An enterprise grade OCR solution can extract the data in minutes vs. hours or days in case of manual typing. A fast secretary types some 200 characters per minute whereas the fastest OCR software recognizes some 1,600 characters per second.
For any business, the accuracy of the converted data is important. However, the accuracy of an OCR software depends on how often a character is recognized correctly versus how often a character is recognized incorrectly. Most OCR software offer 98 to 99 percent accuracy. When the accuracy is measured at the page level 98-99% accuracy would mean that 980 to 990 characters will be accurate in a page of 1,000 characters. It is often fairly acceptable in most cases and can be combined with human feedback for better results.
Although many OCR solutions claim about it but no data extraction model is 100% accurate. Hence, in certain cases, it is important to use a supervised learning model to improve the accuracy of your document processing workflow. Many solutions out there encompass a layer of human intervention often called as a human-in-the-loop that reviews any document that is flagged in red. Higher the number of documents that are processed and reviewed, higher is the accuracy level of the data extraction model.
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