What’s New in OCR technology?

by kbing

OCR or Optical Character Recognition is a popular technology. Enterprises across the globe use OCR technology to save time and effort as it helps extract data from printed documents and converts them into digital formats. An OCR solution is actually a set of programs or software that automates data extraction from written, printed, or scanned documents or images and converts the text into digital or machine-readable forms for further data processing such as searching or editing. While OCR has long been used in different industries for text recognition and data extraction, the technology is evolving with time to provide better results. Let’s discuss the uses, benefits, and what’s new in OCR technology. 

Evolution of OCR Technology 

Traditional OCR technology had limited uses and benefits. On the other hand, advanced OCR technology provides outstanding benefits. But, what is advanced OCR technology? Advanced OCR solutions use traditional OCR techniques combined with modern technologies such as machine learning and neural networks for faster data extraction and near 100% accuracy. Innovative OCR solutions help capture text from printed or digital documents and convert it into metadata for faster processing. 

Benefits of Using Advanced OCR Technology 

Innovative OCR technology benefits businesses in many ways. Take a look. 

  • Advanced OCR solutions are way faster than traditional ones. 
  • When combined with neural networks, OCR technology provides near 100% accuracy. 
  • Since modern OCR solutions are fast, they help businesses accelerate processes and save time. 
  • Quickly edit, save and search files whenever you want. 
  • Lesser errors and better productivity. 

Uses of Intelligent OCR Technology Solutions  

OCR technology has multiple uses in different industries and operations. Below are some of these. 

  • Retail Operations: Advanced OCR text recognition helps accurately capture multiple price tags at once. Even if the barcode is damaged, retail employees can scan the text with OCR technology to keep errors at bay. 
  • VIN Scanning: VIN or Vehicle Identification Number helps quickly identify any vehicle. Using intelligent OCR text recognition, employees can capture several VINs at once at multiple distances and angles. 
  • Air Travel: OCR processing and text recognition solutions help air travel employees scan machine-readable passports and ID cards to capture passenger information instantly. 
  • Scanning Voucher Codes: OCR text recognition also helps companies enable customers to scan vouchers on their mobile phones. To make this happen, brands need to embed serial number scanning capability into their website or app. 
  • Lot Number on Drug Bottles: OCR processing and text recognition is also used in healthcare to capture drug bottle numbers. 
  • Automatic Data Extraction: Businesses that rely on high-volume scanning can benefit from automatic data extraction. Faster and more accurate data retrieval keeps errors at bay and boosts productivity. 

How to Integrate Advanced OCR Technology into your Business? 

There are many ways you can use advanced OCR technology to save time and effort. To do so, you’ll need a robust OCR solution. You can either choose a solution available online or develop a tailor-made solution using an OCR SDK. The latter is a better option for enterprises as SDKs let you customize features as per your requirements. You can add or remove any functionality depending on your needs. Many leading ones provide free trials and online demos to let you try before you buy. So, compare different solutions and choose the best one. 

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