The OCR technology is becoming the need of every business no matter what sector you are in. This advanced technology improves efficiency and reduces the cost for data entry work.
However, the good thing is that this technology is widely available to every person who wants to scan and extract text from images or real-life objects.
There are several myths and rumors about the technology that it is not as efficient and impressive as people say. Therefore, this blog post will break out those myths and rumors by explaining the benefits of using OCR for data entry and other uses.
Let’s get started!
What is OCR technology?
The OCR online is an advanced technology that can extract text from images that you can edit, improves, or search. It is a very simple yet excellent technology that allows you to extract the text that cannot be screenshotted or captured. Moreover, most of these tools are free which means that you do not have to pay a single penny.
The best thing you will love about this technology is that it also has a special feature through which it can detect text from real-life objects.
To make this process successful, OCR technology has three important steps:
- It pre-process the conversion by using multiple methods before the complete processing
- OCR technology uses two algorithms, one is known as feature extraction and the other one is matrix matching.
- In the last step, it successfully makes the conversion and extracts the text that you want.
Most people know the OCR technology as image to text converter because not every person uses it for business purposes. Some people like to use this technology to extract an important or meaningful text instead of capturing screenshots.
How OCR technology makes data entry more efficient?
1 – OCR saves you time while doing data entry
The first and the best advantage of using OCR is that it saves you time and energy. Entering data manually will take a lot of time. Therefore, physical data can be scanned in any digital format.
However, you can scan more than a hundred papers in a very short time compared to doing the same thing manually.
The use of OCR is very common and effective in large accounting and tax firms because it saves their employees time that can be utilized in any other task.
If we talk about figures, then the time you spend on each paper to enter data manually can be reduced by 75% which is quite an amazing thing.
2 – It increases the work efficiency with less human errors
Human error is a very common thing that happens in work. But, sometimes it becomes more critical when you are dealing with very sensitive or valuable data.
By using Image to text converter will lower the chances of human errors because the algorithms used in this technology are highly accurate and precise.
People who are working or running tax firms or accounting agencies may know how irritating the problem is. But with OCR, things are different!
For example, OCR technology can help you out in the inspection of report audits. Mostly, audit reports contain a huge amount of valuable data, and there might be some human errors or swindling information.
By using OCR, you can review your audit reports to ensure everything is as it should be. Otherwise, it will utilize a lot of your time if you plan to do it manually.
3 – Tired of storing data in paper-form? Use OCR to digitize it!
There is no longer a need of storing your data in paper works that can be easily stolen. With OCR technology, you can digitize your important data into your drive or anywhere you think it’s safe to keep. On the other hand, it will also save the storage of cabinets where you store your data files.
4 – It reduce cost and provide more secure way to store data
Another benefit you will get from using OCR technology is that it offers a more secure way to store and save your company data. You can ensure your data with password encryption and by giving access to a few people. However, it will also save you cost by not hiring professionals to extract data using different methods.
Recruiting one person to extract, manage and do data entry with OCR is more efficient and useful than hiring 5 or 6 employees with high salaries.
There are several picture to text converter available that you can use to extract important information from a picture. However, the use of this OCR technology is uplifting the employee’s productivity. Secondly, it prevents human errors that come while you enter data manually.
In the end, the reduced cost and saving time of your employees that can be used in completing other tasks rather than spending half a day on data entry is something you may always want.