How Automated OCR Data Capture Can Help Businesses

How Automated OCR Data Capture Can Help Businesses

(Last Updated On: February 20, 2023)

The use of optical character recognition or OCR data capture technology provides leading automation solutions to businesses and enterprises. It allows them to convert images, scanned copies of documents, and non-editable files into digital text files. These converted digital files can be edited, read by the computer for further parsing, and shared easily to improve workflow and aid internal logistics operations. By eliminating the dependency of businesses on manual data entry, businesses can reoptimize their resources for improved productivity and smoother functioning. 

KlearStack AI’s intelligent data capture platform provides intelligent, accurate, and scalable data generation and document processing solutions. Whether it’s paper-based or digital image-based documents, all data hidden in these files can be extracted easily from them. Further, it can even scan template-free documents with unstructured data formats to generate useful and actionable insights for business expansion.

KlearStack AI can capture data with high accuracy as it uses advanced OCR along with self-adaptive machine learning models. KlearStack AI can improve the accuracy rate on its own as more documents are processed through the system over a period of time.

Why Automated OCR Data Capture Is Better Than Manual Data Entry?

Manual data entry involves the entering of data from paper documents or scanned images. Its high demand for labor and wages often makes it a bottleneck for businesses and enterprises trying to scale their operating costs. Apart from these limitations, manual data isn’t the most efficient choice for businesses. Personnel can often face many challenges while entering data such as the inability to comprehend poor handwriting or low-resolution pictures, excessive time and resource consumption to enter data manually, chances of human errors, and so on. 

Instead, automated OCR data capture can help businesses capture data hidden in unstructured documents such as invoices, bills, and so on. Further, with intelligent AI-driven data extraction solutions, it can possess the data obtained at rapid speeds and is even compatible with bulk volumes of information to find the most effective ways to handle data. With menial human involvement, automated OCR data capture software is highly convenient for companies that deal with the massive influx of documents every day to ensure regular and optimized data processing. 

In comparison to manual data entry, investing in automated OCR data capture can help businesses set up economic and efficient data processing systems. Instead of focussing large amounts of money and valuable labor on manual data, the resources can, now, be redirected to more critical business operations. It is also widely used while processing sensitive documents with classified information to retain the integrity of data with no scope of any external manipulation.

Such data processing systems are widely used in Accounts Payable and Enterprise Resource Planning teams to optimize operations. With decreased turnover periods in generating employee payslips and increased transparency, it also creates a secure and stable work environment to enhance productivity. Further, it shows businesses how to evaluate resource allocation to ensure greater output to boost revenue and profit margins in the long run. 

By providing scanned and machine-readable copies of data, companies can now edit and share information easily to improve and streamline the flow of internal operations. It also enables them to collaborate with third-party agencies and clientele in cases of mergers or partnerships.

Features Of Automated OCR Data Capture

OCR data capture offers sophisticated automated data recognition and processing software solutions. By eliminating manual data entry, companies can opt for intelligent data processing platforms such as KlearStack to accelerate enterprise data automation. OCR data capture serves multiple purposes and offers a wide array of different features to suit every company’s requirements. Some of the leading aspects of OCR data capture include

  • High levels of accuracy 
  • Powerful vision tools
  • Widely applicable image recognition 
  • Highly scalable solutions
  • Rapid processing and data parsing
  • Reduced turnover periods
  • Advanced security 
  • Online cloud-based storage solutions
  • Flexible and dynamic settings
  • Compatibility with several import and export file formats

How Is Automated Data Capture Useful For Businesses?

By leveraging AI-driven and Machine Learning (ML) power data extraction and processing solutions, companies can process bulk volumes of information generated every day. With a multitude of OCR software and data parsing platforms, businesses can invest in any of the same to reap benefits.

Opting for KlearStack will provide smart data processing services to help businesses gain insight and formulate actionable policies to improve operations. With increased productivity, higher revenues, and greater profit margins, companies are sure to reach newer heights by integrating with these high-end digital solutions. 

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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.