Ultimate guide to OCR software + OCR vendors

Most organizations do not have a single platform they can use to manage their documents. Consequently, document processing is often done in a fairly haphazard manner, with different teams processing the data needed to run operations. 

There is a solution to this problem. Optical character recognition (OCR) software enables teams to quickly convert images into machine-encoded text. These images can include typed, handwritten, or printed text and are often important business documents:

• Invoices
• Purchase orders
• Packing lists
• Insurance claims

The list of documents that can be read by OCR software is practically endless. By taking unstructured data in these images, capturing it, and converting it into structured data, the document can then be understood and used by machines. This technology saves time and money by providing automation and data capture to document-based processes.

Documents can also be compressed into zip files, sent as email attachments, or embedded in a website. By extracting data, OCR allows for digital archiving, editing, and document searching. The extracted text can be used in Word, Excel, or other similar programs.

Above all, accuracy is key in automated data capture. If the OCR software you deploy still requires human data professionals to constantly correct its mistakes, you won’t see much ROI. 

The best online OCR technology, after all, does more than just capture data. 

As a more efficient alternative to manual data entry, OCR image-to-text software is widely used as a key element in document management workflows for teams and organizations throughout the world. 

There are two general types of OCR – template-based and cognitive (AI-enabled). Both have various benefits that, depending on how an organization operates, can be the best option. 

A better solution is needed to prevent documents from being lost or miscategorized. A comprehensive platform like Rossum lets you take control of your entire document processing workflow. From data capture all the way to post-processing, Rossum makes it easy to analyze, capture data, and route documents to their appropriate destination.

How does OCR work to improve business efficiency?

What is OCR software? And how does OCR work? Traditional, template-based OCR was historically a breakthrough in automated data capture technology. To this day, it remains one of the most popular methods for extracting data in business documents, despite its flaws. 

Template-based OCR generally operates through the following method using templates or text-based rules:

• Pre-processing images to improve text quality and OCR accuracy by distinguishing characters from the background by converting distorted images into correct text and enhancing image features.
• Intelligent character recognition capability converts images into actual text characters. 
• Post-processing examines the images to detect and correct errors in the OCR output. 

In OCR, templates help the system know where to look for data and what information is stored in the document. Feature extraction removes redundant and irrelevant features by detecting and utilizing data patterns for more relevant data processing and analysis. 

OCR algorithms are trained in pattern recognition by using examples of texts in various fonts, formats, and handwriting styles. OCR compares and recognizes the characters in scanned documents using pattern recognition technology. To correct fields with potentially faulty data, OCR text is tokenized, or separated into a group of characters. 

Overall, traditional OCR works tolerably well in situations with minimal variability.

For example, most IRS documents remain consistent in format and style. As such, the IRS can easily use a template-based OCR system to obtain accurate data capture. However, most businesses have a lot of variabilities in their documents. 

You may think all invoices look the same, but the placement, fonts, and even colors are most likely different across every vendor you work with. The following image shows how the layouts can vary for even just “total/amount due” on invoices. 

Layout changes can introduce challenges to template-based OCR and produce inaccurate data capture. You could create a new template for every single vendor, but templates take hours to build. Vendors also occasionally change layouts, forcing you to create new templates (hopefully catching this change before too many errors are made). 

If you have hundreds of vendors, this is not practical. 

While template-based rules are a useful tool for improving the accuracy of OCR software, these rules often have their limits. This is because template-based rules rely on specific layouts in order to function correctly, and will not always work as intended in cases where the layout varies significantly from the template. 

For example, the following image shows the differences between three invoices.

OCR can be prone to errors, especially in unfamiliar settings. This can be problematic for businesses that rely on accurate and consistent text recognition, as even the smallest letter-by-letter mistakes can lead to major errors. 

In particular, OCR can struggle to recognize text labels and other data accurately in complex or nuanced settings. For example, an unfamiliar street name or dollar amount may cause OCR software to make a mistake when transcribing text, resulting in incorrect data or lost revenue. 

The following image gives an example of incorrect text recognition. 

To deal with these issues, businesses need to carefully implement and maintain robust text rules that account for common errors made by OCR software. These text rules must be precise and cover all possible variations of an input string, as even the smallest mistake can result in disastrous consequences. 

Additionally, businesses must keep in mind that OCR is inherently noisy, meaning that even well-written text rules may not always be able to fully compensate for text recognition errors. Ultimately, achieving consistent and accurate results with OCR requires significant time and effort on the part of businesses if attempting to do so without an experienced partner to assist.

To build a simple OCR program, only a few lines of code are needed. However, the program will have no interface, making it impractical to use in a business setting. A business-ready, cognitive OCR solution takes much more time and effort to build.

How does AI OCR work to achieve very accurate results?

Fortunately, cognitive OCR solutions already exist. Cognitive OCR from Rossum uses modern machine learning technology that combines the ability to “read” documents like a human with the ability of AI to continuously learn and improve over time.

The Rossum system uses the following process:

• Skims through a document and builds a spatial map to locate all the text fields
• Data from the document is identified through machine learning features
• Data is extracted character by character using an optical character recognition scanner
• The data is automatically assigned to the correct text fields and is easily interactable  

This overall system achieves high levels of accuracy that increases over time as the AI keeps learning through regular usage. It can be used on hundreds of documents to instantly capture every single line item of data. 

The extracted data is given a confidence score to let you know the probability of accuracy. Over time, the process can be completely automated if desired or set to a specific percentage level for review. 

The following image gives a great example of how OCR with AI is able to accurately identify fields within a smudged invoice.

Why do we need OCR?

Why do we need OCR? There are many reasons why OCR automation is needed in the world today. Right now, thousands of lifetimes are spent each year just doing the soul-crushing work of managing documents and extracting data. Employees become demotivated and valuable team members leave for greener pastures. 

OCR can end this chaos today and enable you and your team to conquer the endless challenges of document management. Plus, the time saved in various operations departments and teams allows those employees to focus on higher-value, more strategic activities that can actually grow your business. 

The OCR meaning in accounting refers to the ability of OCR to scan transactional documents like receipts and automatically flag fraudulent transactions. OCR accounting software can be used to automate the accounts payable process by scanning and extracting data from invoices. It can also be used to monitor transactions and financial statements.

How does OCR work in different industries?

Financial services

In the financial services industry, businesses are constantly bombarded with a multitude of financial documents that need to be processed and reviewed. These might include:

• Loan applications
• Credit card statements
• Tax documents
• Insurance claims
• Profit and loss statements
• Balance sheets
• Cash-flow statements

While these reports may vary in complexity, they all require significant time and resources to process and review manually. However, the use of OCR can streamline this process by automating the reading and analysis of these documents. 

With OCR software, businesses can quickly and easily scan through these documents for important keywords or patterns that may indicate potential red flags. Additionally, OCR software also allows finance teams to index pieces of data across multiple files or documents within a database system for easier analysis. 

Overall, given its many benefits in terms of efficiency and accuracy, it is clear that using OCR software can help finance organizations optimize the way they process loans, credit applications, insurance claims, and other financial documents.

Logistics & Transportation

In the logistics and transportation industry, document processing is an important aspect of day-to-day operations. Companies must process a wide range of documents, including:

• Customs reports
• Freight schedules
• Bills of lading
• Proof of delivery data
• Invoices and payments
• Shipping manifests

To streamline this process, logistics companies can utilize OCR technology to optimize their document processing workflow. In particular, OCR software is able to quickly scan and extract data from documents such as invoices and PODs, saving valuable time and resources that can be used for more important activities. 

Furthermore, by centralizing all documentation into a single location, logistics companies can ensure that all team members have quick and easy access to all critical information. Overall, incorporating OCR technology into logistics operations is a proven way to streamline and optimize document processing for maximum efficiency.

Manufacturing

In the modern manufacturing industry, manual data entry is still widely used to input and log vital manufacturing information. While this process may seem quick and simple, it is actually rather slow and inefficient, often stifling innovation and reducing product quality.

Not only does manual data entry require significant time, labor, and effort to execute correctly, but it also requires extra care to avoid costly errors that can cause manufacturing delays or even product recalls. Given these problems, many manufacturing companies are exploring OCR technologies that can automate data input and streamline manufacturing processes. 

OCR software can help with processing:

• Bill of materials
• Quality agreements
• Raw material specifications
• Standard operating procedures
• Master bath reports

So if you’re a manufacturer looking to stay competitive in today’s ever-changing market landscape, it might be time to start exploring new ways of managing your manufacturing data. After all, with the right technology in place, you’ll be able highlight your company’s strengths while speeding up turnaround times and innovating faster than ever before.

Retail & CPG

In today’s retail and consumer packaged goods (CPG) industry, companies face many challenges when it comes to document management. The constant fluctuation in product layouts and user interfaces can make it difficult to process important documents quickly and accurately.

Additionally, the need for extensive integration with multiple systems can introduce additional delays and errors into the process. To address these issues, many companies are now turning to OCR software as a way to automate the capture, classification, and useful insights into documents like: 

• Purchase records
• Inventory supply guides
• Vendor invoices
• Point-of-sale (POS) records

By using OCR technology to streamline these processes, retailers and CPG companies can not only improve their operational efficiency and reduce costs, but also boost customer satisfaction by reducing error rates and turnaround times. 

Technology

Companies within the technology industry have endless possibilities for improving customer workflows and manual processes. Documents that each company regularly processes can be optimized for improved operations, such as: 

• User registrations
• Employment agreements
• Business plans and financial documents
• Transactional documents
• Regulatory and compliance documents

There is no shortage of opportunities for innovation in this space. Technology has the power to transform traditional business practices by making them quicker, easier, and more efficient for both businesses and their customers. By using cutting-edge OCR software solutions, you can continue to impress your customers and better navigate the digital landscape. 

Business Services / BPOs

Within the BPO and business services industry, there is a wide range of processes that can be optimized using innovative software solutions, such as:

• Accounts payable
• Accounts receivable
• Order management
• Travel expenses
• Claims and billing
• Customs clearance

These tasks can all be streamlined and made more efficient with the help of OCR technology. By automating many of the manual data entry tasks associated with these important business processes, organizations are able to focus on more value-added activities instead of wasting time on mundane administrative work. 

Additionally, by improving efficiency across the organization as a whole, these software solutions are able to help businesses run more smoothly and effectively overall. BPOs play an integral role in optimizing many aspects of modern businesses through the implementation of cutting-edge technologies like OCR software.

Healthcare

In the healthcare industry, data plays a vital role in processing, managing, and extracting information from various types of documents. Some examples of these documents include:

• Healthcare claims for healthcare benefits
• Medication incident/error reports
• Patient registration forms
• Medicaid critical incident reports

To effectively process this data and obtain the desired information, healthcare professionals must be skilled in data processing and management techniques. In addition to having strong analytical skills, healthcare professionals also need to be familiar with various software tools and platforms that can help them to efficiently handle large volumes of data. 

Whether it’s submitting claims to insurance companies or analyzing medication error reports, an ability to efficiently manage and extract data from healthcare documents helps to ensure that healthcare providers are equipped with the necessary information they need to make informed decisions and deliver top-tier care to their patients.

Insurance

As anyone who works in the insurance industry knows, insurance companies have to deal with a wide range of documents each day. This can include:

• Insurance policies
• Claims forms
• Customer contracts
• Invoices
• Certificates of liability

With so many different types of documents to keep track of, insurance companies can quickly become overwhelmed. However, by using an OCR solution that is specifically designed for the insurance industry, organizations can easily handle all these different types of documents. 

OCR software automates key processes like data entry and archiving, freeing up staff for more strategic tasks. In addition, it allows insurance companies to securely manage large document repositories and ensure that important documents are never lost or misplaced. 

Ultimately, by streamlining their document processing with OCR technology, insurance companies can better serve their customers and stay competitive in today’s fast-paced business landscape.

More industries

Regardless of your industry, it’s important to consider OCR from a multi-dimensional perspective. While OCR is primarily designed for converting text, there may be other ways that it can benefit your business — and slow you down if used incorrectly. 

Rossum’s AI-enabled OCR solution comes pre-trained, out-of-the-box to manage all of the different kinds of documents for many different industries. To discover all the different ways Rossum can be useful for you, here are the other use cases. 

Taking the time to thoroughly understand OCR is critical to choosing the right solution for your business and taking control of your data capture process. You can grow your business in a scalable and competitive way if you choose the right solution.

A key component of OCR technology is OCR algorithms

An OCR algorithm is the strategy the OCR code uses to capture data. There are many different kinds of OCR algorithms. Generally, they operate on a character-by-character basis. The system scans an area where a character is present and then deduces what that character is by isolating it from the background. 

Every pixel where the background color is present receives a value of zero, and everywhere some pixel of the character is present receives a 1. This creates a map of 1s and 0s the system uses to compare to other maps it has recorded to identify the corresponding character. This process is applied to every character and letters are grouped into words based on letter spacing rules. 

Different algorithms have many pros and cons. Due to the various disadvantages of template-based OCR, the best algorithm for OCR is AI-enabled. One AI-enabled OCR software is the Tesseract OCR algorithm. 

Accuracy across many variations is crucial when it comes to business data capture. Unfortunately, Tesseract OCR still has limited functionality when it comes to document variations, such as fonts, formats, and colors. 

In the business world, fast implementation and rapid results are mandatory features. Rossum provides this because its optical character recognition algorithm comes pre-trained to manage thousands of different kinds of documents. To learn more about how Rossum AI works, feel free to read our optical character recognition documentation. 

When it comes to designing a new approach to business information, we have discovered that humans process this type of data very differently from traditional OCR systems. Rather than reading these documents from start to finish, letter by letter, they tend to find and focus on key information by looking at the document as a whole, taking in the overall layout and focusing only on the most relevant sections of text.

To mimic this process in our neural networks, we break down the overall approach into three major steps: Skim-reading, data localization, and precise reading. 

By replicating these steps in our networks, we are better able to understand and process business documents more efficiently and effectively. Ultimately, this enables us to find critical information much faster and more accurately than ever before. 

Skim-reading

Data localization

Precise reading

Optical character recognition example: Streamline invoice management

One great optical character recognition example is how Rossum’s OCR engine can streamline invoice management. For many years, employees in the accounts payable department have had to manually process hundreds of invoices and then send the data to the accounting team. 

With Rossum, all that changes. 

Rossum enables you to completely automate your invoice workflow using AI to extract data and send it to the correct department. Because Rossum is a cloud-based technology, it can also give you 24/7 visibility into your documents. 

Rossum’s optical character recognition machine learning technology enables you to process only one or thousands of invoices, freeing up your AP team to focus on the activities that matter most to your business.

What’s the best OCR software?

Finding the best OCR software can be a challenge. The best OCR scanner app or OCR scanner software is one that is easy to use and effective, but also highly accurate. One great way to determine whether or not the OCR software you’re considering possesses these features is to read the reviews from sources like G2, Google, or Capterra. 

Depending on your needs, you might want to understand the best OCR software for Mac vs. a PC and/or the best OCR software for handwriting recognition. Reading these reviews can help you find the best optical character recognition software to fit your needs. 

At the end of the day, you may require something more comprehensive. An intelligent document processing (IDP) platform like Rossum AI may be the best choice for its flexibility, ease of use, and effective results.

Rossum allows for integrations with multiple platforms, including ERP and RPA systems. This makes it easy for users to continue with their regular workflows while taking advantage of more advanced OCR software. Rossum and your existing systems can provide even more efficient OCR capabilities when used alongside each other.

Using strong OCR software with advanced line item capabilities allows users to easily process incoming data and convert it into useful, actionable information. Whether it’s a spreadsheet filled with invoices or a report containing customer demographics, OCR software with line item functions can help you to quickly sort through and organize large amounts of information in seconds. 

So if you’re looking for a powerful tool that will streamline your workflow, be sure to opt for an OCR software package with top-notch line item features. Rossum can help you with this as we lead the market in table data capture.

How do you find the best OCR software online?

By studying different OCR systems you can be better positioned to choose the solution that’s right for your business. It’s important to know that no two OCR solutions are the same. With new software entering the market every day, companies have more options available to them than ever before. 

In addition to viewing demos and examples, you can find the best OCR software for your business by outlining your needs and objectives. For example, small businesses with few scanning needs might consider free OCR online software. 

Online is great for remote teams or those that frequently work away from the office. Offline software can be beneficial for those who wish to have an on-premise system and for collaborating on-site. Another option for on-site collaboration is a cloud approach, offering a very secure, accessible, maintenance-free way to work. 

There are different types of OCR software. Online OCR software is cloud-based and can be accessed wherever users are connected to the internet. By contrast, offline solutions can be accessed even when users aren’t online. 

Manual data entry, or entering information from a paper document to a computer program, is a time-consuming and error-prone procedure. Companies may struggle to scale and expand if their data management system is outdated. Employees waste time completing repetitive procedures when they could focus more on higher-value-added activities.

OCR software can scan physical documents and convert them to digital formats. When looking for the best PDF OCR or best OCR software online, companies may utilize open-source OCR options, such as the Tesseract OCR online software, to extract text from scanned images.

Open source OCR software allows users to modify the source code. In other words, it acts as a sort of template that businesses can edit to meet their individual needs. Open source platforms can be a great option for organizations that want greater flexibility to customize the software to their individual business needs. 

Instead of relying on pre-built platforms, you can design your own. You can achieve greater accuracy and efficiency in your workflows by taking full control of the data capture process.

While OCR tools have been proven to assist in spend management, not all OCR solutions are created equal. Although there are numerous OCR software online tools available, it is important to be cautious before using them. Some free tools may incorrectly alter your data or even compromise your data security.

For example, Rossum is SOC 2 Type II and ISO-27001 certified as well as HIPAA compliant. 

The best online OCR software for your business is that which meets your current needs while allowing room for growth. The platform should be scalable and adaptable and help to promote greater efficiency in your workflow. The ultimate purpose of OCR is to simplify data capture, so it’s important to find a solution that does that.

If you have an advanced cloud-based OCR solution, it doesn’t matter what is the best OCR software for PC or Mac because you can easily access the software from any device. 

What’s the best OCR software for handwriting recognition?

Manually transcribing handwritten data, such as doctor’s orders, bank check amounts and forms, and postal addresses, can be a time-consuming and error-prone process. Additionally, due to diverse handwriting styles, poor paper quality, and hastily scribbled notes, it can be difficult to convert handwritten notes to text in a machine-readable format.

When it comes to the best OCR software for handwriting recognition and extraction, there are various free and cloud-based programs that can convert scanned handwriting to text. Some handwriting-to-text converters online have spell-checking capabilities to decipher unfamiliar words. Other tools have handwriting recognition algorithms with a high accuracy rate.

There are also AI-based OCR software tools for handwriting recognition that leverage machine learning and deep learning to process images. However, free plan options may only allow users to process a limited number of pages, and premium features are only available to paid subscribers. Other OCR tools may have a user interface that is difficult to navigate.

Rossum’s AI-powered OCR software has an intuitive interface and a well-documented application programming interface system. Rossum’s OCR solution can easily integrate into company processes. Rossum uses cognitive data capture technology to automate data extraction, including handwritten text, from a variety of business documents.

A comprehensive overview of the top OCR software vendors

When it comes to finding a solution to your document scanning needs, there are many different options to consider. To start, one way to begin your search is by looking at a list of vendors that provide an array of OCR solutions. 

These companies offer everything from simple and straightforward solutions that allow you to quickly and easily digitize your documents, all the way up to more advanced solutions that are able to scan and index even the most complex forms of text. 

If you’re looking for something simple and straightforward or something more sophisticated and customized to your specific needs, there is sure to be an OCR vendor out there that can meet your requirements. 

So whether you’re a small business owner or a large-scale organization with an extensive document processing operation, it’s important to carefully research your options and find the right vendor for your needs. With the right OCR solution, you can ensure fast, accurate, and efficient document scanning for years to come.

We’ve included the top OCR software vendors for you to make an informed decision to determine the best fit for your business. Some questions to ask when reviewing these options include: 

• Does the vendor’s product use templates to process documents? If so, how will I process documents with changing layouts? 
• Can the product parse complex documents with a lot of information that needs to be extracted? Will the system become overwhelmed?
• What’s the extraction accuracy rate of the product? Will I need to review every document that passes through the system or can it be automated?
• What’s the product’s verification and validation process? 
• What’s the onboarding process? Can I be quickly onboarded and start using the system right away? Is there an out-of-the-box solution?
• What implementations does this product have? Will it connect to my ERP, RPA, or existing technology ecosystem? How long will implementation take? Will it cause downtime with my system or is it seamless? 
• Is this product available on-premise, in the cloud, or a hybrid approach?

Legacy OCR software vendors

As legacy OCR software vendors are well aware, they are faced with stiff competition from more specialized solutions such as those offered by IDP vendors. These solutions tend to offer a wider range of features and are generally optimized to meet the needs of specific industries or use cases. 

However, despite these disadvantages, many legacy OCR vendors have managed to stay competitive by offering comprehensive platforms that can support a wide range of OCR functions. While these legacy OCR software vendors may not be able to match the capabilities of more specialized solutions, they still have some important advantages that can help them maintain a presence in the industry.

Kofax

Founded in 1985, Kofax is a market leader in OCR offering digital transformation for business workflows. Kofax’s task automation delivers end-to-end automation of time-consuming, repetitive tasks with robotic process automation (RPA). 

ABBYY

Founded in 1989, ABBYY has 30+ years of template-based document processing experience using pre-trained machine learning models. If you have layouts that never change, this is a good option for you to use. 

opentext

Founded in 1991, opentext offers information management, enterprise content management (ECM), and electronic data interchange (EDI) solutions that work in conjunction with OCR technology. 

AI-powered OCR software vendors

Vendors are increasingly touting the use of artificial intelligence (AI) and machine learning to power their data capture software. Many claim that these cutting-edge technologies can help organizations extract valuable insights from their data more quickly and efficiently than ever before. While that can be the case, however, and some vendors may offer individual products that tap into the power of AI for data capture, few are able to offer a full suite of tools. 

Indeed, many businesses seeking to harness the benefits of advanced data capture must adopt and integrate a variety of different solutions from a range of different providers to ,eet all of their needs. Ultimately, therefore, it is important for organizations to be cautious when considering potential vendors and carefully assess the strengths and weaknesses of each tool they offer before making a decision.

Hyperscience

Founded in 2014, Hyperscience provides financial services and insurance companies a human centered approach to automation that requires human supervision to ensure accuracy.

Nanonets

Founded in 2018, Nanonets is a good starter solution for a low price that only does data capture that allows you to upload documents and export data. 

Infrrd

Founded in 2016, Infrrd primarily helps process mortgages and claims using a human-in-the-loop approach to automation giving your team the ability to do more than just enter data. 

Ephesoft

Founded in 2010, Ephesoft uses various tools for their OCR, including Google Open Source algorithms or Opentext. Acquired by Kofax in 2022, this company claims to maximize productivity.

RPA extensions

RPA, or robotic process automation, consists of software robots that can mimic human behavior to perform basic computer operations with incredible precision and speed. This technology works well with automating internal operations.

By copying and pasting data from one location to another or moving files between folders, for example, these robots can eliminate many of the tedious and time-consuming tasks that often bog down employees and keep them from focusing on more valuable work. This allows businesses to achieve greater operational efficiency without having to add additional staff or devote more resources to IT maintenance.

RPA’s OCR doesn’t imply machine learning, it finds the text based on the instructions (coding) created by the developer. It will not guess or predict where it can be but it will follow all the instructions programmed and might find the right information. Robots have low extraction accuracy rates and exceptions, so it’s important to work in conjunction with partners who can help with this if you proceed with an RPA option. 

UiPath Document Understanding

Founded in 2020, UiPath Document Understanding is UiPath’s attempt to become a more intelligent provider of document processing. This provider uses robots to read, extract, interpret, and act upon data from documents. 

Automation Anywhere

Founded in 2003, Automation Anywhere helps employees save time and become more productive by executing a rules-based process across all your systems and apps. 

Blue Prism

Founded in 2001, Blue Prism combines RPA with intelligent automation to unify your workforce and accelerate your digital transformation. Using a digital workforce, these digital workers can be reassigned based on business rules that provides good usability. 

The future of OCR is IDP

It is no secret that OCR technology has been a major game-changer over the years, revolutionizing the way that businesses process and manage their documents. With its ability to turn scanned text into editable and searchable forms, OCR has helped to increase accuracy, efficiency, and speed across countless industries. 

However, in an age of rapid technological advancements, it is clear that there is always room for improvement. That’s where intelligent document processing (IDP) comes in.

Unlike traditional OCR technology, IDP uses the power of artificial intelligence to mimic the way humans read and process information. It learns from its past experiences and evolves based on new data inputs, allowing it to continually improve its precision, reliability, and level of sophistication.

When it comes to business documents, the importance of self-teaching and self-directed attention is even more crucial. Such documents are typically dense and packed with information, making it difficult for the average reader to navigate their way through. 

Instead of reading every word on the page, people tend to scan and skim the document, looking only for specific bits of information that they need. This means that it is essential to convey key points visually in order to attract readers’ attention and ensure that they find what they are looking for. 

This can be done with strategic formatting such as bolding key phrases, creating headings and subheadings, or using visuals such as charts and graphs. By taking advantage of these visual elements, we can create business documents that truly engage our readers and enable them to find the information they need quickly and easily.

IDP represents a true step forward in the world of document processing, helping businesses harness the full potential of AI and intelligent character recognition in order to gain a competitive edge in today’s marketplace. So if you want your organization to be more efficient and effective than ever before, it’s time to think outside of the OCR box and start exploring all that IDP has to offer. 

According to Gartner research, “More than 60% of intelligent document processing (IDP) providers barely get into processing unstructured data extraction: Their capabilities stop, at best, at semistructured data.” While there are quite a few providers in the IDP market, many do not have the capability to truly meet enterprise-level scalability requirements. 

At Rossum, we believe that intelligent document processing is the key to transforming any business. Our cutting-edge, cloud-native platform is designed from the ground up for maximum efficiency and scalability for both structured and unstructured documents. With advanced AI capabilities and that allow you to seamlessly integrate with your existing systems, Rossum gives you the freedom to achieve limitless possibilities. 

Whether you’re looking to streamline your intake process or maximize operational efficiency in your back office, our intelligent document processing solution has everything you need to succeed right out of the box. So why wait? Sign up for a free trial today and see how seamless working with documents can be!

FAQ

What is OCR software?

OCR, or optical character recognition, software is a type of computer program that electronically captures written text and translates it into digital form. OCR programs use a combination of optical and statistical techniques to “read” the text in an image. This process can be extremely useful for converting printed documents into editable digital formats.

What does OCR software do?

OCR software is a type of technology that uses computer algorithms to scan and digitize text. This allows users to easily edit and manipulate text without having to manually type it out or painstakingly re-enter data. 

OCR software is used in a wide range of applications, including accounts payable, financial reporting, data entry and more. Whether you’re working with scanned documents, handwritten notes, or emailed documents, OCR software makes it easy to quickly analyze text-based information at scale. 

What is the best OCR software?

There are many different OCR programs on the market, each with its own unique set of features and benefits. Choosing the best OCR software can be a bit challenging, as there are so many options available. However, there are some key factors to consider when evaluating OCR software. 

One important consideration is accuracy – in order for OCR software to be truly useful, it must capture text accurately and reliably. Another important factor is speed – OCR software that functions quickly will save time and minimize frustration. Finally, ease of use is also an important consideration – OCR software that is easy to navigate will be more convenient and user-friendly. 

When considering these different factors, it becomes clear that some OCR software options stand out from the crowd. Ultimately, the best OCR software will depend on your individual needs and preferences – but whatever your choice may be, it’s clear that OCR tools have become an essential part of any productive workplace or workflow.

What is the best PDF OCR software?

When looking for the best PDF OCR software, there are a number of factors to consider. For example, you will want to look at the accuracy and speed of the software, as well as whether it is able to handle large files or not. 

You will also want to check for built-in features such as text recognition or image conversion, and make sure that the PDF OCR software you choose is compatible with your operating system. Ultimately, though, the most important factor is how easy it is to use the software, so be sure to evaluate a few different options before making your final decision. 

What is the best free OCR software?

There is no single “best” free OCR software available on the market, as different programs offer different features and levels of accuracy. However, there are some popular options that are widely considered to be among the top choices for individuals who need reliable OCR software but are working on a tight budget. 

These programs typically offer basic text recognition capabilities and may also provide additional tools for improving the accuracy of scanned documents and images. Overall, there are many excellent options for anyone looking for free OCR software; it simply comes down to choosing the program that best matches your individual needs and preferences.

Who created OCR software?

OCR software was first developed in the late 20th century by a team of engineers at a small tech startup. These engineers were passionate about creating new technological solutions to help businesses streamline their processes and increase efficiency. 

Their goal was to develop software that could accurately convert digital copies of physical documents into editable text, which would then be easily searchable and reusable for a variety of purposes. With these goals in mind, the engineers began work on their groundbreaking OCR software, and soon released their first successful version to the public. 

Today, OCR technology is used by millions of businesses around the world, and has become an essential tool for modern business professionals. Though it is widely accepted that this innovative software was created by that pioneering tech startup, there are many other companies that have continued to contribute to its development over the years. 

What are OCR software applications?

OCR software applications are a type of computer program that can transform digits and letters into digital text. While there are many different OCR software applications out there, they all operate on similar principles and use a number of different algorithms to achieve their goal. Generally speaking, these applications rely on digital scanners to read characters off of physical documents and then analyze the text to determine what it is. 

How to scan with OCR software?

There are many different ways to scan documents and images with OCR software. One of the most basic methods is to simply open up a document or image in your software and activate the OCR function. Then, you will need to select an area on the page that should be scanned. You can either select a large area or draw a custom box around an individual word or phrase, depending on your preferences. 

Once you have selected your desired area, hit the “Scan” button, and the software should take care of the rest. However, there may be other options or settings available within your specific program that you can use for fine-tuning or customizing your scans. 

For example, if you want to increase the accuracy of your results, you may be able to adjust the level of lightness or darkness that is scanned in order to better separate text from background image elements. Overall, there are many different approaches you can take when using OCR software in order to get great results every time. Some software solutions are also intuitive and can do these adjustments automatically. 

How can I correct mistakes made by my OCR software? How accurate is OCR software?

When using OCR software to convert documents and images into text, it is inevitable that you will sometimes encounter errors in the outputted text. These errors can result from a number of different factors, including poor image quality or transcriptional mistakes made by the software itself. Luckily, there are a few ways that you can correct common errors in your OCR output. 

One method is to use an online correction tool, which allows you to easily make corrections directly within your document without having to modify the underlying text file. This approach is particularly useful for correcting spelling mistakes and small transcription errors, such as misaligned characters or incorrect punctuation. 

Alternatively, if you need more extensive corrections, it may be necessary to edit the underlying text file manually using your word processor’s built-in editing tools. Some solutions also use AI capabilities to learn over time, incrementally reducing the amount of errors until it is possible to be completely automated. 

Ultimately, the best approach will depend on the nature of the error and how quickly you need to fix it. Regardless of which method you choose, though, it’s important to keep in mind that even with OCR technology, there is always room for error when it comes to transcription. So be sure to take your time when evaluating potential errors and correcting them appropriately!

What is the difference between OCR software and optical image software?

OCR software is designed to help computers read and interpret text that appears on an image, such as a scanned document or digital photograph. It relies on software algorithms to analyze the visual elements of an image and convert them into editable text that can be edited or copied and pasted as needed. 

By contrast, optical image software uses digital processing techniques to detect and remove dirt and other physical imperfections from images, resulting in clean, clear images that are free of spots or blemishes. 

Which approach is most effective for your particular application depends on the type of text you need to recognize from your images and the quality of the input data you have to work with. Ultimately, both OCR software and optical image software play important roles in helping machines understand visual data more effectively, making them useful tools for a wide range of applications.