5 Best OCR Software in 2023 [Free + Paid]

5 Best OCR Software in 2023 [Free + Paid]

(Last Updated On: December 19, 2023)

Are you tired of the time-consuming and error-prone task of manually transcribing text from PDFs, images, or paper documents into editable formats?

If so, OCR (Optical Character Recognition) software comes to your rescue.

What is OCR (Optical Character Recognition) Software?

OCR, or Optical Character Recognition, is technology that converts physical paper documents into electronic text. It recognizes, extracts, and transforms text from scanned documents and images, into editable in digital formats.

When you use OCR for your documents, it pulls out tables, text from images, and even words from handwritten notes. You can then turn these files into formats like XML, XLSX, or CSV based on what you need. The extracted data is saved, so you can find it whenever you want.

In the past, dealing with things like invoices and receipts meant errors and delays because people had to do it manually. But with OCR, it saves time and effort, letting your team focus on more important tasks.

Benefits of Choosing the Right OCR Software

With OCR, businesses can easily extract data from invoices, receipts, and forms, making it readable by machines. This makes it simple for your team to find exactly what they need, making everything work faster and smoother. OCR isn’t just accurate; it helps your business be more organized and efficient.

Benefits of choosing the right OCR software are as follows:

  • Efficiency: Eliminates time-consuming manual data entry tasks. Automates text recognition.
  • Accuracy: Ensures precise data extraction from scanned documents and images.
  • Cost Savings: Reduces labor costs associated with manual data entry.
  • Makes Documents Editable: Transforms non-editable document formats into editable, searchable versions.
  • 100% Text-Searchable Documents: ensures that all documents become text-searchable.

 

As business owners—you understand the value of making the right choices. Thus, in the next section, we’ve explored the five best OCR software solutions for you.

Key Criteria for Choosing OCR Software

Key criteria for choosing OCR software include cost-effectiveness, accuracy, compatibility, ease of use, security, and integration.

Here’s what you must ask when choosing OCR software:

  • Cost-effectiveness: What is the pricing structure, and how does the ROI justify the cost for our specific requirements?
  • Accuracy: How accurate is the OCR software in recognizing text, and can it minimize errors in our documents?
  • Security: How does the OCR software ensure the privacy and security of our sensitive data?
  • Compatibility: Is the OCR software compatible with our existing document formats and business systems?
  • Ease of Use:Is the OCR software user-friendly, and will our team be able to adopt it easily?
  • Integration: Can the OCR software seamlessly integrate with our current workflows and software applications?

Best OCR Software Solutions

1) KlearStack

KlearStack

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KlearStack puts you in control with 99% accuracy, 70% cost savings, and easy setup.

Its OCR software works to simplify your tasks. Tasks that usually would take hours, can now happen within minutes.

How to Use KlearStack’s OCR software?

KlearStack is an artificial intelligence or AI-based OCR software that lets you extract data from PDFs, Invoices, receipts, bank statements, and more, with 200% productivity.

All you need to do is:

  1. Upload your documents into KlearStack’s OCR software. The software will record it into its database.
  2. Then, check whether all the details of documents are accurate. For instance, if you’ve uploaded an invoice, then check whether product descriptions, quantities, prices, and any applicable taxes are accurate.
  3. The OCR will then send your documents to the assigned person for review and approval.
  4. Upon approval, the software will automatically fill in the verified data.
  5. Once verified, approved, and entered into the system, it proceeds for automatic payment.

Ofcourse, some people find PDF converters a rather feasible solution to all thgeir document processing problems. That is true up to some extent. It gets the job done. However, the reliability and quality of processed documents may differ each time you use it. This has become of the major concerns for businesses switching from PDF converters to AI based OCR tools for help. And KlearStack is the top one in the market to resolve these problems.

Generally, PDF documents involve tables, text, images, and figures, with the relevant data often confined to these tables. Unfortunately, regular converters process everything without letting you choose specific parts. They lack the flexibility to focus on specific sections like cells, rows, columns, or tables for data extraction.

Unlike generic PDF converters, KlearStack offers a targeted approach, allowing users to pinpoint and extract specific information from tables, enhancing efficiency and accuracy in data extraction processes.

Free trial: No

Pricing: Pricing varies between standard, premium and enterprise plans.

  • Standard: 10,000 to 100,000 Pages/Year.
  • Premium: 100,000 Pages/Year.
  • Enterprise:1 Mn+

Easy setup, cancel anytime. Choose your plan.

Standout Features: 

  • Best AI driven OCR with 99% accuracy
  • Expect cost savings of upto 70%
  • Requires no templates making setup quick and hassle-free.
  • Save 1000s of hours of manual effort and cost.
  • Extracts data from diverse document formats:
    • Invoices
    • Bill of landing
    • ID cards
    • Receipts
    • Purchase orders
    • Credit notes
    • Packing list
    • Insurance policies
    • Legal documents
    • Delivery notes
    • Bank statements
    • Annual reports
    • NACH Mandate
    • Merchant onboarding
    • Marksheets

User Satisfaction: 5 out of 5

2) ABBYY Flexicapture

ABBYY Flexicaptur

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ABBYY FlexiCapture is your go-to document platform, designed to simplify your work life. 

ABBY FlexiCapture intelligently captures, categorizes, and moves vital data from both unstructured and structured documents. 

Whether it’s the next step in your workflow, a critical process, or an important decision point, this OCR software lands exactly where it needs to be. 

Free trial: Yes

Pricing:

    • Standard: $99/year
    • Corporate: $165/year

Standout Features: 

  • Faster, straight-through processing
  • Smooth transactions, smart decisions, rapid action
  • Control, predictability, and compliance
  • Intelligent data extraction
  • Data validation and control

User Satisfaction: 4.2 out of 5

3) Adobe Acrobat Pro DC

ABBYY Flexicaptur

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Adobe Acrobat Pro DC is an all-in-one solution for creating, editing, and reviewing PDFs. E-sign documents, collect signatures, and effortlessly collaborate with your team—all within a single, powerful app.

Free trial: Yes

Pricing:

  • Standard: $12.99/mo
  • Pro: $19.99/mo

Standout Features:

  • Industry standard software for working with PDFs.
  • User-friendly interface with intuitive features.
  • Convert, edit, e-sign, protect
  • Easily share PDFs from any device and location.

User Satisfaction: 4.5 out of 5

4) Kofax Omnipage

Kofax

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Kofax is designed for streamlined workflows and optimized processes. It guarantees efficient operations, empowering organizations to reach their full potential.

Free Trial: No

Pricing

Pricing starts from $3,500 for 100,000 pages per year

Standout Features:

  • Process efficiency
  • Optimized workflows

User Satisfaction: 4.3 out of 5

5) Readiris

Readiris

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Renowned for its exceptional OCR accuracy and advanced capabilities, Readiris is a top choice for organizations seeking comprehensive document management. It offers robust features with slightly higher costs and complexity, making it ideal for those who prioritize precision and versatility in their document workflows.

Free trial: No 

Pricing:

  • Essential: $844
  • Advances version: Request quote

Standout Features

  • High OCR accuracy for precise data extraction.
  • Offers advanced features for comprehensive document management.

User Satisfaction: 4.3 out of 5

Comparative Analysis between the top OCR Softwares

Parameter KlearStack ABBYY Flexicapture Adobe Acrobat Pro DC ReadIris Kofax
Accuracy 99% 94% 97% 99% 98%
Pricing Starts from 5000 to 100,000 Pages/Year.  Starts from $99/year Starts from $12.99/mo $844 Starts from $3,500 for 100,000 pages per year
Integration RPA, Quickbooks, API, CRMs, and all other 3rd party tools. Blue Prism, UiPath, SAP, m-Files, SharePoint, Laserfiche Salesforce, Zoho CRM, and Microsoft Dynamics 365. Desktop OCR, Excel OCR, Farsi/Persian/Iranian, IRIS Third-party AI solutions and open source ML tools such as Python, Webservices, and REST

Key Criteria for Choosing the Best OCR Software for Your Business

Key criteria for choosing OCR software include cost-effectiveness, accuracy, compatibility, ease of use, security, and integration.

Here’s what you must ask when choosing OCR software:

  • Cost-effectiveness: What is the pricing structure, and how does the ROI justify the cost for our specific requirements?
  • Accuracy: How accurate is the OCR software in recognizing text, and can it minimize errors in our documents?
  • Security: How does the OCR software ensure the privacy and security of our sensitive data?
  • Compatibility: Is the OCR software compatible with our existing document formats and business systems?
  • Ease of Use: Is the OCR software user-friendly, and will our team be able to adopt it easily
  • Integration: Can the OCR software seamlessly integrate with our current workflows and software applications?

After evaluating all these criteria, choose the right OCR application from the above-mentioned list of OCR software. Multiple businesses choose to go with KlearStack, you can try it by booking a free demo. 

How to Implement KlearStack in Your Business?

Step-by-step guide to implement KlearStack in your business.

Step 1: Sign In

Begin by signing in to your KlearStack account to access the powerful document management features.

Step 2: Select the Right Package

Choose the KlearStack package that aligns with your organization’s unique needs and objectives.

Step 3: Installation & Setup

Work with KlearStack’s team to install and configure the software seamlessly.

Step 4: Data Migration

Transition existing documents into KlearStack through scanning or digital import.

Step 5: Integration 

Integrate KlearStack smoothly with your existing systems and software.

Step 6: Define Automation Rules

Set up rules for data extraction and document routing within KlearStack.

Step 7: Pilot Testing

Test KlearStack with a subset of documents to ensure it meets your requirements.

Step 8: Monitor & Optimize

Continuously oversee KlearStack’s performance, gather feedback, and optimize as needed.

You have the opportunity to choose the perfect solution for your business needs.

Dependable, fast, and competitively priced, KlearStack ensures secure and scalable performance for your business. Employing a blend of AI, machine learning (ML), deep learning (DL), OCR, robotic process automation (RPA), pattern recognition, and text recognition, KlearStack is a perfect solution for accurate data extraction. It employs machine learning to deliver pre-trained extractors, specifically tailored to handle various types of documents. This approach ensures precision and efficiency in automating PDF data extraction processes.

Want to see KlearStack in action? Schedule a live demo today and start improving your document management and workflows with ease.

Your journey to increased productivity starts now, and it’s just a click away.

FAQs on OCR Software

What is the best OCR software in the market?

When considering the best OCR software in the market, explore options like KlearStack, Adobe Acrobat, ABBYY FineReader, and Readiris. KlearStack is best known for providing 99% accuracy and 70% cost savings.

What is the latest in OCR?

The latest in OCR is cognitive OCR, a fusion of modern AI and traditional OCR. It can make tasks smarter and more efficient. Discover how KlearStack harnesses these advancements to benefit you.

Which OCR is better than Tesseract?

While Tesseract is a popular open-source OCR tool, consider alternatives like KlearStack, ABBYY FineReader, which offers superior accuracy and ease of use.

What are the new applications of OCR?

The new OCR applications involve  data extraction from invoices, forms, and receipts. KlearStack is at the forefront, providing efficient solutions for these tasks and streamlining document management.

Ashutosh Saitwal
Ashutosh Saitwal
www.klearstack.com/

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.