Optical Character Recognition (OCR) is a technology used to read machine-printed text on a document. Specifically, it is used in automated document classification and automated data capture solutions. Reducing the need for manual document sorting and manual data entry, these solutions “read” the documents using OCR and identify the document and determine what data to extract within a business process.
When integrated with a content or information management system, these solutions can provide extensive benefits for organizations – especially those who have staff devoted to manual document sorting and data entry.
Common examples of OCR Solutions:
- Forms processing Invoice processing
- Remittance and check processing
- Mortgage loan processing
- Explanation of benefits processing
- Transcript processing
- Claims processing
How OCR software benefits your organization
Implementing OCR solutions can truly revolutionize business processes and quickly provide substantial returns on the original investment. The noticeable changes after implementing an OCR solution can include:
- Improved process speed: By reducing the amount of manual effort involved and implementing automation, the process speeds up immediately
- Optimizations to the workforce: Reducing the amount of required manual work enable you to reallocate staff devoted to data entry to higher-value tasks at the organization
- Reduced costs: The solution removes the labor cost associated with manual data entry and document sorting. As business demands grow, technology can grow and eliminate the need to hire additional staff.
How can OnBase OCR solutions improve your day to day business processes?
OnBase OCR solutions not only help provide the above benefits but provide those benefits across departments and industries. There are a number of flavors of OnBase OCR solutions, including:
- Templated capture solutions: Staff can easily configure templates for each document to help guide the software on where to look for specific values.
- Intelligent capture solutions: Once implemented, the software can automatically find the important data on each document for extraction. This allows for the solution to be built for your specific documents and processes. It also can easily be modified over time as changes arise.
Learn more about OCR solutions here.