When introduced, Optical Character Recognition software was considered to be a boon for businesses. Instead of manually transferring data from records, one could now simply extract data from them. Later they can enter it automatically into in-house systems. We can save hours of manual labor but there remains a caveat. Errors introduced during the extraction process remain in your system. Before we recognize and fix the errors it can stall the work for many hours.
OCR scanners are prone to fail when one tries to extract data from old documents. Either the fading of the print or the lack of contrast can lead the software to the incorrect recognition of patterns. Additionally, most online OCR software is designed to work with English as a language. But not everybody uses English as their first language. If you travel to Europe, the script remains the same but the language differs. A smart engine OCR should be able to pick up this difference in language and adapt its data extraction algorithm to suit that language. Infrrd’s OCR tool is built to handle problems that traditional text recognition software can’t.
WHAT CAN INFRRD OCR TOOL DO?
We can use Infrrd OCR tool to scan and extract data from a wide range of documents. If your interests lie in the automatic reading of receipts, invoices, utility bills, passports or other licenses, bank statements, or product sheets, Infrrd can scan them all without much hassle. To add to this, Infrrd OCR tool could extract details from PDF to OCR including handwritten documents.
Unlike the traditional methods of OCR converter, which requires you to buy highly specialized scanners and install them in locations, where they could be easily trained and checked upon, Infrrd makes the job extremely simple by working through a regular smartphone. A simple OCR app on your smartphone can enable your staff to take a picture and initiate the scanning along with the data extraction process from any location. No more sending of documents to and fro. Infrrd lets you scan the document of your interest and extract the information you need.
HOW DOES INFRRD OCR TOOL DO THIS?
Traditionally, OCR reader has been quite rigid in their approach. We need to tell the OCR, what the document looks like, where we can find which field, and what data we need to capture. Plus, the software will take the information for its face value, irrespective of whether it is right or wrong.
on the other hand, uses both Artificial Intelligence (AI) algorithms and machine learning. This helps them to not only read the documents but also to train themselves for the future. So, we do not have to worry even if the invoice or bill is in a new format. The system can quickly adapt and continue with data extraction without you having to train the system. The machine learning algorithms analyze the data of your documents and automatically correct it to suit the most likely of the words that your invoices regularly use. This saves you precious time because there is no more error finding to do later on.
As the system learns, it can read and extract data from more and more documents that you or your business tend to use. Eventually, the accuracy score also increases. There are no templates that you need to provide, to begin with, and the extraction can work off mobile devices too. So, no more central processing of extractions. Your staff can initiate and transfer data on-site, on the go, or from the comfort of their home.
Since we have our own mobile SDK and a white-label app we can onboard quite quickly. By default, the app extracts data such as the type of expense, name of the dealer, transaction date, transaction amount, and currency of the transaction. This is a feature that you will never find in a traditional OCR tool, where you have to begin training right from the beginning.
For all the additional data that you might want to be extracted, Infrrd can be trained quite quickly and relies on its learning abilities to perfect its craft. Artificial Intelligence algorithms allow for quick extraction of data on taxes, business names, and even the classification of documents by their types. For certain businesses, they require a line-by-line extraction of data. We can instruct the algorithm to follow the same. Hence, we can put the automated extraction into action in no time.
Infrrd also provides a deep learning-based logo detection algorithm. It helps in the quick identification of businesses from the logo or trademark alone. It doesn’t really matter where the logo is from. Once our algorithm has linked a company to the logo, it can quickly confirm the same with the invoice. Thereafter, it proceeds to data extraction. The algorithm also automatically identifies the language of the document. This is to ensure that the OCR tool does the data extraction for relevant information. Hence, we will not waste any time redoing the process later on.
WHERE CAN WE USE INFRRD OCR?
Various industries across many parts of the world use Infrrd’s superior OCR capability as compared to traditional OCR software. From the retail industry to finance, back offices to SaaS providers, many industries are now making use of Infrrd OCR’s capabilities. We have offices in the US, Australia, New Zealand, and India. Therefore, we assure you that you will get support wherever you are.
Infrrd also offers other machine learning-based solutions that help businesses make more sense of the data they have and make more specific recommendations, based on user preferences and behavior. If your business also requires such services, then the team at Infrrd would be happy to get in touch with you.
One can achieve language detection and appropriate interpretation faster by machine learning than the traditional training of the system. This is where Infrrd OCR tool beats the competition. As your system improves, you can even use it to extract data from old documents and digitize your records instead of making more storage spaces in your office. Good OCR engines like Infrrd OCR tool learns and grows with your organization.
Infrrd is already working with some of the top names in their field such as GE, ChromeRiver, Levi’s, Staples, and many more. Wouldn’t you like your business to get the same edge that these businesses enjoy? Chat with us to schedule a meeting to discuss further.
Originally published at https://www.infrrd.ai.
