Top 10 Benefits of Using OCR for Business

OCR (when expanded- optical character recognition) has ever since it’s unleash in 1990 has gained huge acceptance. It can easy distinguish a wide variety of symbols and languages. Also it can recreate the original layout, type size, fonts and even colours of your document. A lot of digitalization companies in India offering OCR solutions these days make use of any of the best software programs that blends OCR with additional intelligent features.

Let us see how businesses these days are exploiting the scope availed by OCR technology in different ways.

1. Access to text

   Storing documents is a complicated task, and you may have several files stacked up in your storage space. The important uses of OCR lie in its ability to organize this storage space. In case these are not properly sorted and stored in the drives, important folders may be misplaced or accidentally deleted. OCR helps in storing these files in laptops, computers and other devices in an organized way.

2. Cloud storage

   Many companies nowadays are mobilising their documents to cloud instead of physical data storage. And this has made the documents completely accessible from whatever smart device they are using without any restrictions. Now the employee can access, find, read and edit the documents as per the requirement. They can collaborate with their colleagues and execute workflow responsibilities like approval of invoices. Folders can also be synchronized while being offline.

3. Increased speed

   Every business firm strives to optimize its time. You would like to make maximum use of your productive hours. Using best OCR software enables business firms to reduce the processing time of documents by as much as 80%. When you do away with the manual process, the employees can concentrate on the more important aspects of the business. This increases the productive output of the business firm significantly.

4. Invoice automation

   Businesses, regardless of their size or type scan hard copy invoices and import soft copies to the system. The data extracted is automatically validated for certifying accurateness and facilitating proper categorization. Now, it can be diverted to any financial or accounting system, as per the need. Form automation method is similar to invoice automation

5. Information retrieval

   Availing PDF format that is easily searchable is yet another advantage of OCR. Different software are used by organizations to convert PDF files with only images as well as paper documents into digital files that are easily searchable. Unlike normal PDF documents, searchable ones have an overlay (invisible) with searchable text. This has immense benefits as the digital file system with you serves as a database that can be easily searchable for finding names, keywords as well as phrases by which the information needed can be located.

6. Mailroom automation

   It can be used for automating mailrooms; larger organizations have already embraced this. All the inward documents are analysed automatically, sorted categorically and forwarded to different business teams. OCR document scanning is used for extracting data and listing documents in indexes. Thus the company’s system gets populated and this avails faster data access for teams. By this documents and all the data are incorporated directly into the system from where business teams can easily use it.

7. Curtailing costs

   Using OCR solutions can help business firms curtail costs to a great extent. This is one of the key benefits of using OCR in business. It is an effective way to cut down cost of hiring professionals, who carry out tasks like data extraction. It also helps in reducing other costs like printing, shipping and copying. OCR also helps in eliminating the costs of retrieving documents that are lost or misplaced. OCR enables the firm to manage the storage space in the digital format, as they need not store paper documents that occupy large spaces.

8. Efficiency in management

   One of the important benefits of OCR solutions is its ability to manage data in confidential documents. You can effortlessly deal with this type of data, sort and store them in the system.

9. Greater data security

   Maintaining the security of data is important for every organization. Paper documents can be destroyed or lost easily. Besides, they can get misplaced, stolen or get damaged by pests, fire, moisture and other natural elements. One of the advantages of OCR technology usage is that, it ensures a greater security to the data. When you analyze, scan and store data in the digital format, they remain safe in the storage space. Today, most of the companies know the business benefits of scanning documents and have integrated the OCR technology on their platforms.

10. Recovery after disasters

    Storing the data in the electronic format ensures its safety even under emergent situations. This technology enables business firms to recover the data easily, even after natural calamities or fires. This is one of the major applications of OCR. Digitally stored data can be retrieved fast and the continuity of the business can be restored. Also many companies convert pdf to doc OCR if needed.

Conclusion

So you see, OCR scanning is crucial for business documents and financial reports, as the technology keeps all the data categorized. For improved storage space, seamless cloud migration, invoice automation, data retrieval, and other vital business actions are made easier with OCR. Thus, if you are a business owner drowned under tones of data, implement OCR scanning and streamline your Big Data.

It is best recommended to hire a professional agency for OCR scanning services. They are experts in OCR document conversion and have hands-on experience in working across varied business domains. Hence, for a full-proof and affordable document conversion solution, switch to a professional agency. Good luck!