How does Optical Character Recognition add value to your business?

by | Enterprise Information Management

The workforce of the future is moving away from manual intervention. Anything that is repeatable is automated with seamless process workflows, artificial intelligence and IT tools. 73% IT entrepreneurs are embracing digital automation tools to optimally deploy human resources for strategic and creative activities.  Optical Character Recognition eliminates the need for human intervention to manage documentation and knowledge centers. OCR technology helps computers read physical documents, handwritten files and non-text formats and convert them into easy readable forms to drive efficiency in enterprise content management. OCR solutions with a difference MicroGenesis, with 2 decades worth of experience and expertise, has offered customised services and solutions to various domains. These include, healthcare, automotive, retail, and manufacturing.  MicroGenesis Techsoft is the platinum partner for Ephesoft and is expanding its footprint across the globe. The smart document capture solution from Ephesoft completely automates financial data extraction process by removing manual compilation and organizing relevant accounting data. The OCR solution captures, cleanses, identifies, reviews, extracts, and validates the content. This centralized repository of useful content can be used for creating reports, gaining business insights, carrying out predictive analysis, and more. Differentiators: MicroGenesis’ OCR can be integrated with various existing content management repositories (like SAP, Oracle, SharePoint, etc.) or Enterprise Resource Planning (ERP) software. The salient features of MicroGenesis’ OCR solutions:-
  • Capturing Documents: The OCR can convert documents in paper and electronic data irrespective of structured, unstructured, and semi-structured formats.
  • Eliminating Manual Processes: The OCR extracts information/data automatically from the source and reduces manual processes, which may lead to a larger percentage of errors.
  • Verification of Data against various Databases: The OCR cross verifies and matches the present data with the different data sources, schemas, and flexible maps.
  • Providing Accurate Information: The OCR attaches fields, forms and character level scores to the extracted data. These indicators are important for extracted data accuracy.
  • Easy Access: The OCR information can be accessed from anywhere in the world as it is centralized with high-level security.
Advantages of OCR With MicroGenesis’ OCR solution, you can expect the following advantages:-
  • Minimized Errors: The OCR process is completely automated and accurate with least percentage of errors. It can easily replace manual processes that are mostly error prone.
  • Large Volumes of High-quality Document: The OCR can receive, process, and release large volumes of good quality content and documents.
  • Increased Productivity: The OCR process is seamless as the document capture and extraction can be streamlined. Also, the workflow has high degrees of visibility. They contribute to the increase in productivity and eliminate manual processes.
  • Decreased Labor Cost: Automate capturing and processing of information from structured, unstructured, and semi-structured data helping reduce the need for labor.
  • Improved Accuracy: With lesser labor and manual process, error percentage is minimized leading to highly accurate content. It also helps bring down the processing time.
  • Decreased Operation Cost: Helps reduces the paper prints, storage space, and infrastructure. It can also help in optimized resource planning thereby, reducing operation cost.
  • Improved Accessibility: Ease in access due to centralized data storage, easy capture and management solution. These features can easily recognize and index entire files leading to enhanced audit efficiency.
  • Highly Customer-centric: Partnership with Kofax and Ephesoft for delivering highly customized, accurate, and quality document capture solutions