Just think at this moment about data that it’s the “king” of any organisation. Not only this it allows for analysing relationships between circumstances of different locations, systems, and departments.
It helps in evaluating the root of any company problems. It’s due to efficient and accurate data analysis that companies can optimise the data.
What is ICR?
It’s a developed form of OCR. In simple words, it’s software that recognises handwritten documents or text or characters and converts them into computer-readable texts.
ICR software enhances the OCR technology performance by translating different handwriting fonts to extract data from both unstructured and structured documents.
It improves and promotes the learning process in artificial neural networks every time new data is entered into ICR. it also attached characters to the recognition database with every new handwriting the software processes that improve capture accuracy and reliability over time.
It is useful for every organisation that has a broad variety of papers, letters, documents, and forms every day like law, healthcare, and financial industries.
For these companies, documentation is a simple and convenient tool for handling customer records. Therefore, it requires a 100% accuracy rate when it comes to the stage of data collection. It’s a simple way to reduce errors while saving human resources and time.
ICR vs. OCR
ICR encloses similar applications as companies usually come across the OCR programs. Moreover, ICR users also explore and categorise handwritten texts into machine-readable details.
If a company requires a vast volume review of handwritten text that includes unstructured and ordered information then ICR is an amazing option to add a data-capturing process.
It diminishes the human error risk and presents a high accuracy rate that increases the data capturing efficiency.
Benefits of Intelligent Character Recognition
- Customer satisfaction
- Elimination of manual processes
- Accuracy of information
- Attention to detail
- Improvement in productivity
The ability offered by ICR technology is way forward from what existed more than a century ago. ICR software should take advantage through organisations specifically when demands for better information governance
ICR software like Acodis should be taken advantage of by organisations, especially as demands for better information governance expand.
Otherwise, the company might expose its information to uncertain levels and lose any possibility to optimise efficiency.
Maximise Big Data Insights
When enterprises thrive to maximise the large volume of data that they process, handwritten information plays a crucial role. Search for the great combination of skill, vision, and experience for collaborators and suppliers to extract the most out of handwritten recognition.
Impact on Cost Structure
Outsource ICR and you won’t have to worry about
- Administrator and user training
- IT maintenance and infrastructure costs
- Software cost
- Configure the software and time to install
- Redesign forms for optimal recognition
- Define data exports for each form template
- Labour is required to analyse the recognition results
Few Things to Consider
A lot of Handwritten Forms or Documents
Without ICR and OCR, all organisational forms have to be processed manually which is time-intensive because all information would be written by hand. Obviously, more employees would be hired for this process which makes it costly.It causes repetitious work as employees must answer all the questions to make it searchable and compatible with the document management system. ICR does it automatically.
Organisation deals with Broad Vendors Range
Many vendors have switched towards online invoices and receipts, but not all of them. Every month, organisations work with many suppliers that usually file documentation and accumulate them or manually enter it whenever they are around. In audit cases, they can face duplicate payments, accounting errors and misplaced required documents.
Regular Use of Scanner
There are many reasons to scan documents only when they are saved as word, PDF or any relevant file, they are mostly not searchable. Extracting much out of Data Management Systems(DMS) means having the ability to quickly search keywords from files. With OCR and ICR software, companies can instantly find their required documents.
Strive for Digitisation
Besides saving paper, digitally transform paper documents for the beneficial purpose of the organisation. Companies will be able to arrange, catalogue, freely move, and scan these documents. For a few organisations, it results in advanced levels of adaptability and intelligence.
Ease of Accessibility
ICR proposes easy solutions for employees or clients with visual impairments as the information becomes easily accessible to diverse software required. Anyhow all paper-based documents can be easily transformed into digital. Companies don’t have any need to spend on storage for file stacks.
Key Takeaways
ICR reduces errors so the best way to get accurate results is through an editor whose responsibility is to analyse the original images or documents with web-based copies of the values. AI supports these procedures through self-learning software that applies the learning across the complete data set.
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