Computer vision through OCR
Computer vision is part of the much broader field of Artificial Intelligence. Optical Character Recognition is basic to the application of computer vision. Simply put, OCR works through a character recognition which can be done with an OCR engine like Tesseract and a programming language such as Python. For example, Py-tesseract is one of the tools used for the application of OCR. Such tools enable data extraction from an image and detection option to further process a document after scanning.
Nowadays, these high-technologies make living easier than ever before. These have also become the must-have tools in optimizing any kind of work. People do not have to go through tons of hard documents to export or import and analyze data. By employing OCR technology, workers can easily transfer or translate a large amount of information from paper to electronic records.
Benefits of OCR technology
Time-saving and environment-friendly
For obvious reasons, using OCR can save your time from all the manual work. Moreover, we are all about going paperless to save our environment. Thus, we will serve the planet right if we produce our documents digitally!
Fast data entry
Digitalized information makes it easier for someone to input necessary data and begin with much more valuable tasks.
Automatically transforming printed documents into searchable and editable contents helps you find information and archive documents electronically rather than going through a mountain of paper files.
Avoiding manual errors
Through OCR, you can get the exact details from a certain document which means that you can avoid the manual editing errors that occur with the normal keyboard entry. You can then organize all the information as they can come in handy with digital filing.
Since you have all the information in one place, it will now be easier to access and work on whatever tasks at your comfort. Remote control and monitoring always give you an edge in managing your business.
What can OCR do for accounting?
If you are an accountant and you are reading this, you should know by now how OCR works with accounting. You can imagine how much of the work will be reduced if you have an OCR tool that manages your invoices (fapiaos) or processes your payable accounts.
OCR management can help accountants and auditors handle expense and budget reports since they can find all the documents in one place. More so, everything they need is provided automatically and is fully searchable anywhere and anytime. Thus, they can focus on more valuable tasks such as analyzing the reports and ensuring that they are clean and safe against tax errors or liabilities.
On the other hand, all financial information must be kept to only relevant partners. That’s the reason why it is also necessary to put all information in one storage that only the responsible person has access to.
Accountants, auditors, and financial analysts also manage strategic financial planning for the company. Therefore, it is crucial for them to spend more time on this task than collating papers, typing information, or correcting typographical errors.
What do we offer?
If your company does not have an OCR tool yet that fits your business needs, S.J. Grand will provide you with one. Our newly launched accounting solution service, Kwikdroid, uses OCR technology that will make sure your company experiences its benefits. It will also cost you less than you think.
Request a demo now!