The Optical Character Recognition (OCR) system allows for the recognition and automated reading of characters. It may be employed for scanning and reading of invoices but also for many different purposes. What are they?

OCR – the background

Before we focus on how companies may use OCR, it is worthwhile to briefly mention its background. OCR was initially aimed at aiding blind and visually impaired people, and it can be said that a machine called Optophone was its prototype. The first, unfortunately imperfect, OCR device was released as early as in 1955. The machine was capable of canning a limited number of characters. Today, OCR accuracy reaches up to 99.9%. As a cloud available service, OCR has a relevantly short history of only 16 years.

How to use OCR in a company

Marketplanet has invested in an application for reading documents – SaldeoSMART. The combination of knowledge and experience in the purchasing and accounting areas enabled to create an innovative solution in the Polish market. SaldeoSMART appllication uses OCR technology  for reading of invoices. Invoices automatic recognition allows for an improved control over costs generated by a company. The system automatically reads a document and allocates it into a relevant category – the only thing an employee receiving a cost invoice needs to do is to enter a scanned document into the system. After that, a document may be quickly and easily transferred to an accounting program or ERP system, offering the company a full control over the costs it generates.

Additionally, the recognition of characters from scanned images and their accurate arrangement enables creating a correctly named document archive. With SaldeoSMART, any document can be retrieved quickly and easily. What is more, making an archived document available to an interested person is very convenient and involves no additional copies or sending a document by e-mail or traditional mail.

Lower costs of document processing

SaldeoSMART means savings at different levels. Most importantly, it is in the area of processing of documents – their circulation, distribution among individual employees or entry to an accounting program. As a result, a document is transferred more quickly so that its processing cost is reduced. An important aspect is also the exploitation of office supplies that could otherwise make a significant amount. With an electronic archive, created when an invoice is automatically read, there is no need to make a number of copies of the same document. This is one of the most measurable benefits for a company deciding to transfer its documentation into the “cloud”. As a result, it allows for generating savings on paper or cartridge expenses but also on time and office space.

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