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Best Optical Character Recognition Software for Invoice

What is Optical Character Recognition?

Optical character recognition is a fundamental component of any data capture solution, helping businesses automate the scanning, data extraction and processing of documents, images and other files. This minimizes or even eliminates any need for manual data entry and maximizes the potential value of automation solutions.

OCR on its own, however, falls short in several ways. It is very sensitive to any distortion and can easily confuse similar characters, since it identifies them individually, without any context. For these reasons, typical OCR engines are not accurate enough for use in broader automation systems. Rather, it is far more powerful when coupled with computer vision technology into a complete "data capture" solution.

Typical OCR engines simply scan for shapes and attempt to match them to known characters and words. However, computer vision allows the OCR engine to analyze every feature of an image or document, from color contrasts to co-linear structures, to more effectively understand each and every pixel. This vastly improves our accuracy, and allows us to properly understand tables, graphs, images and several other types of content that OCR does not pick up.

Optical Character Recognition for Invoices

Optical character recognition is often used for capturing invoices because invoice processing is a simple, repetitive task that can be done more efficiently through automation. Invoices are easy to take care of using OCR because they follow a fairly standard format that is easy for the software to recognize. OCR can be used to extract information from invoices and add it to computer databases.

Finding the Best Optical Character Recognition Software for Invoice

The best optical character recognition solution for invoices is a forms processing solution, which is able to extract information from structured and semi-structured forms. One highly efficient forms processing OCR solution is Trapeze from SoftWorks AI. Trapeze can classify documents as they come in, making them easier to organize and process, and making the software ideal for invoices. Contact SoftWorks AI for more information about Trapeze.

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