Enterprise automation is a process that is gaining popularity among organizations that want to streamline their existing operations while making them more efficient. One of the components in automation is OCR (Optical Character Recognition) technology. This tool is often essential for transforming unstructured data contained in documentation into key digital information. From this publication, you will learn what lies behind the term OCR and how its presence affects the development of business capabilities.
Table of Contents:
- What is OCR technology?
- What is the OCR system used for?
- Business process automation with OCR
- Examples of applying OCR technology in automation
- Implementing OCR automation in the company life
- Challenges and risks of using OCR solutions
- What the future holds for OCR in Business Process Automation technology
- Railwaymen's experience with OCR implementation
What is OCR technology?
OCR technology is a powerful system that has the role of interpreting printed or handwritten text scanned from images or documents. Through advanced technology connected to machine learning, identification of numbers, letters and other symbols can be undertaken and transformed into digital formats subject to editing capabilities. This is a major progress in digitization, allowing traditional company records to be transformed into digital files containing the most important data previously kept on paper.
What is the OCR system used for?
An OCR system is a tool designed to help transition from traditional means of documentation to digital form. The process is becoming more sophisticated every year and providing its users with more options. Nonetheless, there are currently several solutions considered key to OCR technology. Prominent among them are character recognition, extraction of text from graphic elements, language support, and accuracy in text recognition.
Business process automation with OCR
The digitization of businesses has led many industries to show considerable interest in tools that facilitate a smooth transition from traditional to digital documentation. Using the capabilities of an OCR system not only guarantees a smooth transition, maintaining the stability of the activities undertaken so far, but also speeds up daily work. There is no shortage of voices among supporters of this technology, who consider this to be one of the most important benefits behind the implementation of OCR into the life of an enterprise.
Optical Character Recognition translates into reducing the incidence of human error in the organization of enterprise documents. In the financial space, it is valued for its efficient processing of invoices by extracting key data fields. OCR is also a tool that impacts analytics and compliance reporting. Properly implemented, the system allows data to be analyzed according to applicable standards and conditions specified in laws and regulations. A well-implemented OCR model and properly trained employees in its use can jointly reduce the existing operational costs incurred by the enterprise.
Examples of applying OCR technology in automation
There is no doubt that OCR can play a variety of roles in modern business. Certainly, much of its potential has yet to be fully explored, but the improvements to date are worth noting. And among them are, for example:
- contract analysis;
- document management using DMS systems;
- identity verification;
- streamlined customer service.
All of the aforementioned elements save the company time and monetary resources. At the same time, OCR applied to web and mobile applications can significantly improve the experience of the user who is a customer as well as those who work in the company's structures.
Implementing OCR automation in the company life
Implementing OCR technology into a company's reality requires a diligent approach to the entire process. In order to reap the benefits of undertaking automation, each of the four stages must be conscientiously followed step by step.
The first is to assess business needs and goals. This is the right time to conduct an analysis of the company's needs and identify what goals the company has to achieve by implementing OCR technology into its structures. This type of analytical solution translates into the implementation of any requirements established earlier. The next step is to choose the right OCR solution. It should be preceded by a discernment of what technologies are available and which of them meet the expectations specified by the company.
Once a suitable solution has been identified, it is necessary to conduct tests to assess its performance and operation under real conditions. If the testing phase shows nothing of concern, then you can move on to implementing the technology in the company's life. The final point in this process is to skillfully train employees in the use of the new tool and guarantee technical support in case of any need. Employees using OCR should feel comfortable using the automation and feel that they have support whenever they need it.
Challenges and risks of using OCR solutions
Integration of OCR into existing company processes is not all idyllic, as it might seem. Embarking on data automation also brings challenges and risks that should absolutely be kept in mind. An improper approach can contribute to obstacles that can be extremely serious.
One of the trouble spots in the context of OCR technology is data security. Ensuring privacy is a very important factor that, if neglected, can lead to many painful problems for the company. For this reason, it is essential to use appropriate safeguards to prevent this, such as data encryption or access control.
Another risk is the accuracy of text recognition. While OCR processes are constantly being improved, as I mentioned earlier, they are still not all completely perfect. There can still be cases where text is misinterpreted. That's why it is advisable to regularly monitor the implemented system and subject it to a thorough evaluation to rule out the occurrence of such situations.
The last and equally important aspect is compliance with laws and regulations. OCR should comply with applicable data protection laws and regulations. Any company undertaking automation using OCR should keep in mind that it should all be done in compliance with the law to avoid the risk of receiving a financial penalty or losing its reputation in the market.
What the future holds for OCR in Business Process Automation technology
Looking at the ongoing development of OCR in business process automation, I am tempted to say that this phenomenon will continue to grow in the coming years. The dashing potential of this technology will certainly expand into areas related to artificial intelligence, augmented reality (AR), virtual reality (VR), or at least the automation of more complex business processes. Each of these branches, combined with the possibilities OCR brings, will increase its efficiency, which will translate into providing business solutions tailored to users' needs.
Railwaymen's experience with OCR implementation
In our portfolio at Railwaymen, we boast a diverse project experience that includes implementations involving OCR (Optical Character Recognition) technologies. As a company, we have successfully completed projects for the fintech and construction industries in which these solutions have played a key role. Each of these implementations has won praise from both end users and customers who have chosen to enhance their applications with our services.
Our expertise in OCR technology has enabled us to address a wide range of challenges in these industries, from streamlining document processing to improving data accuracy and availability. By leveraging OCR's capabilities, we have enabled our clients to achieve greater efficiency and productivity in their operations, ultimately contributing to business growth and success.
In addition, we encourage you to visit our case studies on our website, where we detail our projects using OCR technology in the fintech and construction industries. There you will find more information about our achievements and implementation capabilities.
