Everyone needs to reduce their carbon admissions and using less paper is a big option. Optical Character recognition (OCR) is cutting down the need for paper receipts by being to scan all of the fields with accuracy. Technological inventions and development, mean you can use less paper at your workplace.
New technologies in data capture like OCR for receipts are revolutionizing how data is extracted such as expense data extraction (EDE). The technology is able to read all items on a receipt. The most accurate option in the world reads all receipt fields in all languages. Millions of receipts are being processed daily, cutting out masses of manual data with greater accuracy than human data entry.
The advantages of Paperless office are as follows
Time-saving – unlike other times of keying in details and information, here, the optical lens covers all the pieces at a snap and saves it. You do not have to get digging into many manual files looking for receipts and information. At a click on your phone or laptop, you have all that you want.
Saves on spending – this is a win-win situation. You do not have to hire as many professionals to have your accounts running anymore. All thanks to technology, you gain a lot of efficiency. It is also more comfortable and faster to retrieve information, whether considered lost or hard to find. This also makes you save some money that you would have spent on printing, transportation, storage, and copying.
Quick data capture – OCR receipts work almost like the human brain. It understands human intelligence hence captures all tickets accurately. Thus near-perfect data capture.
Almost 100% accurate – OCR accuracy has grown exponentially in the past few years, on all receipts which include dates, establishments, and totals. Additional forms can now be captured.
Lightning Fast Cloud API – The digital world is immediate, and everyone is used to it. Therefore, a receipt scanning API is not different! In less than two seconds, all your POS receipts are easy to capture and process.
Robust and straightforward API – A good OCR API is easy to install and runs faster than more bloated options. This is one of the fewest features you would require when integrating a OXR API into this software. It makes it easier to manage and save your expenses and receipts.
Line item statistics extraction – OCR API extracts data in an integral and successful format. It has the only technology universally to return accurate items and lines from any POS receipt. OCR is able to understand and read all languages and character sets.
Tragedy recapture- you probably do not want to lose data in as much as this is unavoidable in some instances. Having a sound recovery plan is the way to go, and OCR receipts has you covered. In case a file breaks or a document or gadget catches fire, it will be recovered as good as it was because it got saved in the cloud.
GDPR and SOC3 compliant- security of data is the most critical consideration of any business company today. The safest way to save any detailed or financial document is on a high quality, accurate GDPR and SOC3 compliant service.
Becoming paperless in your office with OCR receipts is reliable and a faster means of saving and retrieving documents, hence highly recommended. This technology can also be used for other documents, but mass receipts is proving to be the biggest way OCR is used at the moment. Especially in the current times we live in, when avoiding paper is more important than ever.