Companies, on average, misfile around 20% of their paper documents, which can cause serious problems. But paper documents are often the only option. Information is filled in by hand, or PDFs are printed out for readability.
As a result, most businesses accept the risk of misfiling a few documents. They prefer to continue their paper system rather than figure out how to survive without it.
This is where OCR tools (also known as “optical character recognition technology”) come in. Are you wondering, “What is OCR?” It is a tool that “reads” images, translates them into text, and turns them into digital files.
Your company can enjoy various benefits when it invests in an OCR tool. For example, you can use OCR tools to digitize tax documents, paper invoices, handwritten contracts, employee or client information, business cards, and PDFs.
Keep reading for our quick-read OCR guide.
The most significant of all the OCR benefits is that it improves company productivity. Your employees no longer have to spend so much time traveling to file rooms, learning complicated filing systems, searching for documents, and hunting down lost files.
Your employees simply search for the documents they need in a computerized database. This saves time and energy, making your company more efficient overall. Over time, this can lead to a measurable increase in productivity and profits.
There are a few different OCR tools for you to choose from. However, weighing your options carefully before investing in any tool is best. For example, check out this article about Tesseract .Net to start your research.
Why pay for an OCR tool when you can create new digital documents yourself? That seems like a cheaper option, right? But the problem is that human data entry is prone to error.
OCR tools have a much higher accuracy score. They are also able to digitize documents much faster. This unique combination of speed and accuracy is not possible with human labor.
Save Storage Space
Physical documents take up office space that could be used for other things. They need to be filed away in a system that is easy to track and use and has room for expansion. Some companies have entire rooms with complicated security systems dedicated to their filing.
Using an OCR tool means your documents can be accurately and quickly digitized, removing the need for paper storage facilities.
Digital data security is more effective than physical security. Your documents are much safer on a digitized database than in a physical filing room.
Digital storage systems can be backed up and are easier to search, so it is much harder for files to be destroyed or lost.
The Benefits of OCR Tools Explained
The benefits of OCR tools are numerous and save your business money in the long and short-term. They also make your business much more efficient, resulting in more money-making opportunities. Enjoy these benefits by investing in OCR tools today!
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