Best OCR Software For Invoice Processing To Improve Business Operations

Best OCR Software For Invoice Processing To Improve Business Operations

(Last Updated On: February 21, 2023)

Optical character recognition or OCR software are software tools that allow you to convert non-editable files such as paper forms, printed images or PDF forms into scannable and editable documentation that can be read by your machines. They work by scanning the text available in the inputted documents, processing the text and then transforming the documents into editable files in formats such as Word or Excel.

They are highly useful in the automation process during most business operations. They are used by accountants, human resources teams and even data entry personnel to capture and generate information from paper or bulky digital files. They are especially helpful in extracting and processing data from receipts, invoices and other staff and client paperwork.

They are a new age and intelligent form of data processing, and if you opt for the best OCR software for invoice processing, you can easily digitise your paperwork. Here are some of the best invoice OCR software available to help you improve and optimise your business operations.

Top 10 OCR Software for Invoice Processing 2023

1.    KlearStack

KlearStack employs the use of leading OCR technology to capture and process data from unstructured documents such as invoices, bills and so on. With smart AI algorithms to speed up data parsing, it is one the most trusted intelligent document processing platforms in the market. It enables companies to generate insights using data to come up with actionable policies to help improve business operations. KlearStack is becoming increasingly popular among establishments to accelerate enterprise data automation for optimised resource planning and other related processes.

2.    Adobe Acrobat Pro

The Adobe Acrobat Pro DC is one of the best OCR software for invoice processing available with end-to-end document processing that allows you to convert scanned documents into editable digital files for easy access. This software is specifically created for business operations thereby enabling you to process enormous volumes of data at the click of a button. The converted documents are then stored in machine-readable formats compatible with Windows and Mac operating systems.

Furthermore, it also gives you PDF solutions by letting you create or edit PDFs or by converting them into other formats. It offers features such as text recognition, formatting tools and editing access to add comments, merge or compress PDF files and even rotate or crop pages.

3.  Nanonets

Nanonets employs the use of Artificial Intelligence (AI) to extract and organise information from scanned documents to improve efficiency and productivity. It allows you to digitise your files in a matter of seconds thereby helping you omit the tedious process of manual data entry. This is one of the best OCR software for invoicing processing since it can validate data from receipts, client or employee forms and invoices.

4.  Rossum

Rossum is top ranker in the best OCR software for invoice processing that allows you to scan, organise, edit and process data from all forms of documents. Useful in invoicing processing, it uses Artificial intelligence to capture and interpret information from files regardless of their template or file type.

Further, its user-friendly interface allows easy indexing, metadata extraction and image processing. It offers multiple features such as data integration and editing, the addition of algorithms or codes and trigger notifications when a document has been revised or converted. It allows you to keep track of the files, ensuring that their integrity isn’t compromised to enable smooth business operations.

5.  Omnipage Ultimate

Omnipage Ultimate is an OCR software to convert paperwork, physical documents, non-editable PDFs and images into text files. It can generate data from these formats and transform them into editable formats that you can save or share on your Windows systems ensuring good workflow and stable operations. One of the marque features of this application is that it can process large batches of files and produce them in multiple formats with great precision and a high level of accuracy.

6.  Readiris

Readiris is an OCR application that allows you to convert images, PDFs or paper documents into digital files. It is a great application to help you process and manage all your data efficiently. It also lets you sign or authorise files, merge, split or compress them or even transform them into multiple text formats. With high accuracy, fast reading and processing speed, you can scan your documents using your mobile phone camera and convert them into a digital format to help you with your operations.

 7.  ABBY FineReader PDF 15

ABBY FineReader 15 is an AI-driven OCR software that gives you access to PDF solutions. Along with helping you digitise your data, it can also help you spot the errors in the data allowing for easing editing and correction. You can format the digital files to fit selected templates or even modify them to optimise your business. With batch processing capabilities and a high level of accuracy, this is one of the best OCR software for invoice processing using which you can generate, retrieve and share all the data extracted to help you improve your workflow.

8.  Microsoft OneNote

Microsoft OneNote is an OCR tool that allows you to extract information, organise digital forms, make notes or even record screen clippings. You can capture data from a scanned picture or document and paste the text generated into the software making the process of editing easier. Further, the information can be organised into different pages or files within the same application for easy management of bulk data. It also lets you collaborate with your staff or clients to modify the documents according to your business goals.

9.  Google Docs AI

Google Doc AI is an AI-integrated application or tool that uses sophisticated algorithms to process data available in multiple formats. It allows you to integrate parsed data with Google Graph and offers an intelligent analysis of your generated documents stored in cloud networks. Enriched with high data accuracy, Google Docs AI is easily available and one of the best OCR software for invoicing processing. It can scan, read and process a large number of documents making data automation much easier and faster.

10.  Amazon Textract

Integrated with Amazon Augmented AI, this machine learning software can extract and review text from scanned documents. Its OCR technology captures numeric data from inputted forms or tables by detecting a page’s layout. It is highly suitable for digitising resumes, legal paperwork, financial reports or inventories to make management processes more efficient.

Use The Best OCR Software For Invoice Processing To Improve Efficiency

Using high-end OCR applications in your business operations can help you extract, process and store vital information from scanned documents into machine-readable and editable file formats for easy access and management. Opting for intelligent document processing platforms such as KlearStack can help you improve your business practices. It allows you to optimise internal operations with high-speed processing and analysis. Integrate with leading OCR technology and AI-driven tools to join the future of enterprise automation.

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Ashutosh Saitwal
Ashutosh Saitwal

Ashutosh is the founder and director of the award winning KlearStack AI platform. You can catch him speaking at NASSCOM events around the world where he speaks and is an evangelist for RPA, AI, Machine Learning and Intelligent Document Processing.