OCR (Optical Character Recognition) is a technique that converts a picture of text into a computer text format. Whether you scan a form or an invoice, your PC will store the scan as an image. The characters in the image file cannot be searched for, edited, or counted using a text editor. However, you can convert a picture into a text document containing its content as text data using an OCR engine.
The OCR SDK provides distinct character identification, PDF conversions, and data gathering features that enable it to access data on screenshots or images and convert scans into usable Word, Excel, or PDF documents.
Most corporate workflows involve acquiring information from print media. Printing contracts, scanning legal papers, billing, and paper forms are all examples of business procedures. These enormous amounts of paper require a lot of time, space, and work to store and handle. Thus, the best option is to manage documents digitally rather than on paper. But there are challenges involved in turning paper documents into photographs. For instance, the procedure is time-consuming and physically demanding.
Additionally, the process of scanning this paper document yields graphic files that cover the text. Word processing software cannot read text from images the same way it does from text documents.
OCR technology resolves the problem by converting text images into text data, which other commercial tools can analyze. The data can be used for analytics, to streamline processes, automate tasks, and increase productivity.
Superior text identification, PDF transformation, and data collection features are provided by the OCR SDK for your program. It can access data on photos or screenshots and convert scans into readable PDF, Word, or Excel documents. The OCR SDK is used by manufacturers of scanners, MFPs, ECM systems, paper image and capture solutions, RPA solutions, and other goods.
OCR SDK: Why Do Businesses Need It?
OCR technology has transformed data collection and storage methods in a variety of industries, including health care services, human resource management, finance, and medical coverage. By computerizing and sharing files, it also eliminates common user errors. OCR technology has made numerous advances, which are:
- It can help firms that wish to digitize printed data such as receipts, financial records, and receipts with automatically generated processing of information and entry.
- It could be involved in the digitization of historical records and newspapers so that they can be searched.
- Sectors like recognizing registration plates with traffic cameras and red-light camera technology.
- It can also employ speech synthesizers for people who have speaking disabilities.
- Creating automated workflows in various business units by digitizing PDF documents.
What Role Does an OCR API Play in the Healthcare Industry?
By automating the written language of clinical documents, past medical histories, prescribed drugs, and more, OCR APIs can save time.
Additionally, utilizing AI-based OCR technology, medication slips, laboratory notes, and diagnostic testing data may be evaluated and converted to digital file formats for secure health record management.
Healthcare firms may track many fields from various health records using OCR APIs, which also promotes patient orientation and education procedures for hospitals.
Another usual feature is that by eliminating, obtaining, sorting, and arranging diagnostic information, these APIs can start educating patients about their rights, safety issues, and healthcare solutions.
What Role Does the OCR API Play in Financial Institutions?
The retail and distribution network businesses’ payments, bills, and assets can be used using OCR technology to extract goods, cost, and company data. With 95% accuracy, it can identify invoicing layouts and eliminate functional sections.
Data validation for receipts can be accomplished utilizing data capture responses and OCR APIs, and thus the data can be converted to Excel, JSON, or CSV for analysis.
Bill observation can help businesses who want to issue pre-orders and have stock on hand increase their financial resources and perform cash flow forecasts based on financial records.
In brief, firms can acquire insight into data by extracting OCR information from purchase orders. Therefore, by maintaining the legitimacy and integrity of the data, we are building the foundation for superior customer experiences.
How Does the Supply Chain Industry Benefit from an OCR API?
OCR APIs are useful for invoices, client orders, shipment details, and shipping information. You may double-check taxation rates and amounts, extract key-value pairs, and cut your back-office costs by up to 50% by using these APIs.
OCR APIs aid in the processing of documents as well as other paperwork utilizing intelligent data extraction in logistics.
The transportation sector deals with substantial amounts of data. OCR APIs facilitate communication between suppliers, customers, and vendors by supplying accurate data and transforming unorganized formats into more structured ones.
By assuring data quality, OCR APIs can process CMR invoices, prevent re-corrections caused by entering erroneous information, and detect fraudulent activity. By preparing and delivering account statements via email and receiving order confirmations more quickly, distributors and businesses can save time.
How Can an OCR API Benefit the Legal System?
OCR APIs can be used to transcribe affidavits, decisions, filings, and other documents, simplifying data searches.
OCR technology helps law firms because it enables lawyers to save court documents in digital format, decreasing the need for physical storage of paper-based information. Legal firms can store data from numerous web directories with the aid of OCR APIs.
Depending on customer needs, using an OCR API also enables multilingual translations and the management of legal papers in other languages.
In order to scan, modify, and securely save legal documents online, attorneys can use a variety of OCR APIs. The OCR solution also aids in maintaining the integrity and confidentiality of documents.
How Can an OCR API Benefit the Banking Sector?
Checks, card swipers, bank documents, KYC paperwork, and other documents can all have their data processed using OCR APIs. To process financial data, check account balances, and validate money transfers, banks employ OCR APIs.
Banking institutions can shorten turnover times by using OCR software to check account numbers, transaction histories, identities, and tax data from various bank statements.
Loan generation and administrative tasks can be computerized by combining OCR APIs alongside AI technologies for handling customer applications.
Why Can’t OCR Solutions Be Used in Every Industry?
Because they typically create document errors, OCR solutions aren’t suitable for every business. The following are some of the most common OCR processing mistakes:
- letter interpretation errors
- ignoring unreadable characters.
- combining text from related columns or the captions of images.
Although a variety of factors affect how well OCR tools function, the text’s quality, shape, and font can help you estimate how many errors there will be.
When processing high-quality documents, even the greatest OCR APIs can make mistakes if each character has a distinct format, font, or style.
Conclusion
The majority of firms are looking for ways to integrate OCR into their programs and systems. Utilizing Filestack’s OCR API is among the best and most efficient ways to accomplish this.
The OCR API from this OCR SDK can help you analyze, extract, and organize data, minimize data extraction mistakes, and improve the effectiveness of data collecting. Invoices, IDs, business cards, and tax documents can all be used with it in addition to photos.
Additionally, you can avoid the hassle of manual data processing by character-by-character converting image features into specialized identification codes using FIlestack’s OCR API.