Optical Character Recognition (OCR) is the most widely used and implemented data entry methods. OCR involves digital scanning and identification of written or printed text or images. Using this technology text is scanned, analyzed, and translated into character codes which are easily searchable and shareable through electronic medium. OCR technology considerably increases productivity and efficiency in organisations where work was mainly dependent on human workforce. This particularly applies in niche businesses which deal with huge document inflow and high volume scanning. OCR is able to perform a quick search through vast content and extract meaningful data which helps in decision making. This technology is particularly applicable in data intensive and sensitive businesses like banking and also make your insurance claims processing easier. 

Main advantages of OCR:

1. Improved Productivity:

OCR software improves business productivity by facilitating faster data retrieval based on requirements. Workforce can get into more productive activities because they can access the needed documents easily without much manual work.

2. Reduced Cost:

OCR cuts down tremendously on cost side by reducing manpower expenses which was otherwise required for carrying out huge manual data extraction activities. It also reduces other costs incurred in copying, printing, shipping etc. Hence OCR eliminates cost of misplaced or lost documents and offer better savings.

3. Improved Accuracy:

Automated data entry tools like OCR helps in improved accuracy and reduced errors, which results in efficient data entry. Problems like data theft and data loss can also be tactically tackled by OCR software deployment. Issues like keying in wrong information accidentally or otherwise can be eliminated.

4. Huge Storage Space:

OCR allows data to be stored in an electronic format in servers, this eliminates the need for maintaining huge paperfiles. OCR software thus helps in realising the paperless approach across the business.

5. Improved Data Security:

Paper documents are easily prone to damage or destruction. Using OCR, data is securely stored in digital formats. This technology also prevents unauthorized access and mishandling of the digitized data.

6. No-error Text-searchable Documents:

OCR data processing digitizes documents text searchable. This enables businesses to easily and efficiently lookup numbers, addresses, names or any other parameters that differentiate the document which is searched.

7. Enhances Customer Service

Quick data accessibility is crucial in call center scenarios where customers need instant access to product information. OCR helps in storing and retrieving organized data about products and services at higher speed and accuracy. This considerably reduces call wait time and improves customer experience.

8. Editable Documents:

OCR enables editability of scanned documents , especially when some information has to be updated. This is of great utility when huge contents have to be regularly updated or changes to be incorporated.

7. Disaster Recovery:

Storage of data in secure servers is very crucial since it can be extracted and put to use in emergency situations. Business continuity is ensured during disaster situations and data remains safe and can be retrieved later on.

OCR software is useful to businesses in banking, mortgage, financial, legal and healthcare sectors. A reliable partner like Nuvento can help you save big costs and time using OCR software technology.

Call us to know more.