OCR also referred to as optical character recognition is among the most used and implemented data entry methods. OCR includes digitized scanning and recognition of printed and written texts such as computerized receipts and invoices. First, the text is photo scanned, analysed and then translated into character codes.
OCR has completely improved the process of data entry. There are multiple benefits of using OCR for receipts the primary advantage is that it assists businesses to increase efficiency and effectiveness in the workplace.
Here are benefits of using OCR data entry method in your business
- Cost reduction
One of the benefits of using this data entry method is that it will cut down on various costs in your business. The tool will also help in reducing other costs such as shipping, printing, and copying. It will also cut down on the cost of hiring professionals to carry out data extraction in your business.
- High productivity
The OCR software assists companies to be highly productive by ensuring there’s quick data retrieval when needed. The effort and time which was used by the employees for retrieving data can now be used in carrying out important work. Besides the staff members don’t have to keep making unnecessary trips to the primary data room as they can quickly get access to the files straight from the computers.
- Higher accuracy
One of the main problems in data entry is accuracy. When you use automated data entry tools like OCR chances of errors and mistakes are reduced resulting in accurate data entry. OCR can also solve problems with loss of data. Since there will be no power involved chances of typing in the wrong information can be eliminated.
- Makes documents to be editable
Documents which have been scanned need to be edited most of the time, especially when specific information needs to be updated. OCR can change any data into word format so that it can be easily modified. This can be of great benefit if there’s information which needs to be updated or changed regularly.
- Disaster recovery
If your business documents have not been digitally secured they can become destroyed in c a fire outbreak or even get stolen. But when you electronically store your data in secure servers and distributed systems, the data will remain safe and secure even in emergency cases or situations. You can easily retrieve the digitized data in case there’s a fire break out or any other natural calamity.
- Promotes a paperless approach
OCR can store data which is in paper form in an electric format in servers. In doing so the need to store substantial paper files in the office won’t be necessary. When the data is electronically stored, there will be increased storage in the office since the files won’t be stored in bulk form.
If you are in an office or business and you need to get rid of paper documents, then you should incorporate the use of OCR. You can also use OCR to transfer sensitive documents to your smartphone, tablets, and computer.