Optical character recognition, or OCR, is a method for scanning a document and capturing its information. The new generation of OCR systems, like Smart Capture OCR, which integrates with ALTEC DocLink, make it easier to scan important business documents.
Using a document management system with OCR saves time. Information sharing, routing, and management are easier when you convert paper documents to electronic documents. Using ALTEC DocLink, Smart Capture OCR can benefit your company in the following ways.
OCR Eliminates Manual Data Entry
It’s important to understand that the Smart Capture OCR is not just a scanner. Scanners create electronic files from paper documents, but that’s it. It is necessary to manually enter the data contained in that document into another system, like an accounting or ERP system.
By using deep machine learning, OCR can “read” documents. With it, you can extract structured and semi-structured data, eliminating 60-90% of the manual data entry process. OCR can extract headers, footers, and line-item details easily.
Your ERP system receives the information automatically, making it easy to convert paper documents into useful data.
Data Capture Automation
You can automatically capture data with OCR, which saves you time. A powerful machine learning algorithm reads all files received via email, scanners, MFDs, or special watch files and stores the identified data in the ERP.
Smart Capture OCR can transform almost any document, including:
- Bills of Lading
- CAD E-Size Drawings
- Customer POs
- Check/Payment Remittances
- I-9 Forms
- Invoices
- Misc. Receipts
Immediate Benefits of Smart Capture OCR and DocLink
The benefits of using ALTEC DocLink and Smart Capture OCR are almost immediate.
Your teams will save time entering data into the ERP system since they no longer have to type documents. OCR saves relevant and important information automatically to the ERP, saving hours of data entry time each week. Eliminating manual data entry also reduces errors caused by typing.
Smart character scans improve visibility and transparency because information is entered almost immediately into the system. Checks, CAD drawings, bills of lading, and other important data are available as they are received. Additionally, the ERP database makes the information available to a wider team, improving transparency and visibility.
Time savings results in more staff time available for growth-related projects. You’ll also see improved reports and financial information accuracy and increased data availability for all to make better decisions.
It Just Keeps Getting Better
Paper overwhelm plagues many companies. Despite media hype about a “paperless office,” paper seems to proliferate.
You can work efficiently and quickly with ALTEC DocLink and Smart Capture OCR not only because the system is quick and easy to use but also because it is ever evolving. With machine learning, your system becomes better at recognizing form fields by scanning more documents for your business. As a result, OCR “learns” from your corrections and “understands” common business documents you receive.
Get more information about these systems if you want to reduce paperwork and data entry. Contact us for a free consultation today.