OCR – A riskless investment
Optical Character Recognition (OCR) technology is a method of converting typed, printed, handwritten, scanned, photographed, faxed files into documents in the form of soft files that can be edited and searched. Today, many companies/businesses use OCR to process paperwork, simplify identification, extract information or store and exchange documents. So, why do businesses not regret investing money for OCR? What are the benefits that OCR brings?
Here are 8 benefits that OCR brings to companies/businesses:
1. Save time
It takes a few minutes to fill in personal information on the identity card, driver’s license… on the declaration form or enter manually on the computer. However, with OCR, it only takes 2-3 seconds, about 50-60 times faster. Therefore, using OCR to digitize data automatically makes the workflow much faster than manual processing. Files are stored in seconds and easily retrieve information or find documents when needed.
2. Reduce costs
Because OCR helps identify and extract information extremely quickly, the working time is shortened. OCR technology contributes to cutting thousands of hours of work, minimizing errors that can occur during manual data entry of humans. Since then, businesses save much operating costs.
3. Better work management
When businesses provide employees with appropriate working tools, efficiency will be significantly improved. Employees will not have to spend time doing boring repetitive tasks, but more focused on intensive tasks. The performance will be improved.
4. Quick search
Compared to spending hours searching for information on papers, it only takes a few minutes to find information on digital files in a very simple and easy way.
Once customer information has been integrated into the enterprise’s general system, not only internal people in that organization can search, but customers can also look up for personal information or service packages that they are using.
5. Improve business processes
Manual data processing is time-consuming and does not create any direct value for the business. Moreover, manual input can cause data and information errors. These unreasonable errors will cause the work cycle to be delayed, or cause confusion and trouble for both customers and businesses.
When ensuring standard operations in each stage such as data entry, information extraction, data processing…, businesses will have a professional and effective workflow, contributing to increased labor productivity.
6. Document security
Customer invoices, contracts, personal data, and other important information must be kept confidential 24/7. Any breach of security will affect the reputation of the business and lead to harsh reactions from customers.
The information after being processed by OCR technology will be stored on the enterprise’s common database system, with many different security steps, not everyone has access to that data warehouse. With any small change, the system keeps a clear history.
Compared to mechanical security, this is the most secure way to store important data today.
7. No more storage problems
A giant filing cabinet or information storage room contains tons of papers, boxes, shelves… taking up too much space. The number of documents keeps growing until you have nowhere else to store paper documents. A digital data warehouse that stores OCR-processed documents will save you valuable space for other businesses.
8. Improve customer service
Keeping customers waiting is not a way to retain customers. Especially when they call the consulting switchboard. Thanks to OCR technology, operators will take a few seconds to search and retrieve basic information of customers such as name, age, address, service package they are using… based on the phone number of the customer. When the customer knows who the caller is, what their gender is, the counselor will have a greeting and a proper way of addressing. This will create sympathy with customers, creating a sense of intimacy and closeness.
As the processing speed is faster and simpler, customers will have a satisfying experience. They will remember the brand of that business with a good impression.
With obvious benefits, OCR technology promises to be applied in many industries and fields in the near future, creating great changes in the era of technology 4.0.
In Vietnam, one of the products integrated with OCR technology with the highest accuracy on the market today is FPT.AI Vision. This is a solution to identify and extract information from images, accurate to 98% of the information fields on identity card, driver’s license…, leading the market in identifying quality, helping to digitize identity papers, quickly identify customers.
With FPT.AI Vision, the process of registration and verification becomes faster, more accurate, shortening waiting time and increasing customer satisfaction, reducing staffing costs, data entry and repair time. Thus, increasing the operational efficiency of the business can scale system flexibly. With APIs, FPT.AI Vision can be easily integrated into any enterprise system in the shortest time, providing a synchronized experience for customers.