Converting paper-bound data is easier with a revolutionary technology called Optical Character Recognition OCR.
Over half percent of global traders have opted into this printed data conversion practice for entering the league of digitally transformed companies. This conversion trend has expanded data rapidly, which produced about 1.7 megabytes of new information every second by 2020. It is happening because of the leverages that only digital information can bring.
Let’s understand what OCR technology is before defining its benefits.
It is an AI that runs on scripting. The computer software is instructed to run the tailored script. As it does, the bitmap generated starts searching for light and dark areas. This is called screening, which allows the device to recognize the light area as background and the prints as characters.
As it starts separating, the prints are recognized as alphabets or numbers. In all, it recognizes the pattern (alphabets and numbers) and then, identifies the crosses, characters, angled lines, curves, etc. (in prints).
This is how the hard copy is converted into a soft version.
Let’s move to assess how this conversion benefits any business.
1. Employees Turn More Productive
This technology makes any printed document digitally enabled. Since the information becomes retrievable in a few seconds, corporate people feel more engaged with work and hence, their productivity at work improves. These digital databases let them save nearly 4 hours a day because manual searching is replaced with fast digital processing.
2. More Saving Happens
This Optical Character Recognition (OCR) service can perform the tedious task of multiple people alone. It means that you can save up to 70% of the in-house operational cost on manual resources. This substantial benefit helps in reducing the costs of copying, printing, and managing files.
Besides, your corporate lives are a more carefree place where files and sensitive documents attain safe and secure virtual space. So, the risk of losing that crucial information is much lower than ever. Nor do you bear additional cost for reclaiming the document from the concerned authority, which would otherwise be a constraint to a particular authoritative person.
3. Benchmark Quality & Accuracy
With digital data conversion practices like automated data entry and scanning, the nightmare of a ton of errors and illegible data is over.
The OCR technology is followed by data cleansing, which is all about fixing typos, inconsistencies, and discrepancies. It results in better efficiency through fast and automated data entry. Besides, loss of data won’t happen because every piece of information is digitally retrievable. You may call it back if it’s accidentally lost using Ctrl+Z or other IT hacks in a few minutes without involving any manpower.
4. Store Data Virtually
The Optical Character Recognition method can let you scan, digitize, and catalog databases from enterprise-wide files. This conversion allows them to store files in an electronic format on the cloud and servers, which leads to a paperless corporate environment. You can promote a green environment approach across the organization through it.
5. Superior Data Security
You cannot compromise the security of sensitive information. Physical files and printed documents are prone to damage. Even, you may misplace or lose them to natural disasters like flood, moisture, fire, or pest at any time.
On the flip side, digital files are not vulnerable. Being virtually stored, they can be scanned, analyzed, and relocated in different formats. With minimized access, their mishandling and mismanagement are hardly possible.
6. Search Ability in No Time
This is the most delightful feature associated with digital data conversion. The digitized docs attain searchability. It lets professionals quickly lookup for the details in accordance with the defined criteria in less than one or two seconds.
7. Improve Customer Support
The call center industry’s ROI in India is projected to up at a 14.67% compound annual growth rate (CAGR) by 2026. It means that people are more relying on faster support provided through digital data.
Some call centers support customers with the information they need. On the other hand, there are some advanced call centers that quickly access certain personal or order-related information to address the request of customers remotely. It is simply possible because of electronic data.
With this conversion technology, it becomes easier to systematically store and retrieve the documents digitally at blazing speeds. The waiting time is slashed, which results in delivering a happy and satisfying customer experience.
8. Easily Refine Data
Scanned documents undergo refining via cleansing and processing. A lot of editing takes place, particularly when they require updated information. With the Optical character recognition method, converting data to any preferred formats such as Word, PDF, CSV, Excel, etc. is like a walkover. This is no less than a blessing where the information consistently requires changes.
Summary
OCR technology is beneficial in making corporate lives easier and digitally active. It makes the conversion of printed documents into digital within a few minutes, which makes data retrievable, searchable, and immortal. People can access it for a variety of purposes remotely.
