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Optical Character Recognition (OCR) technology allows information to be extracted from documents and transformed into electronic data that can then be edited. The software can be used for both physical, paper (scanned) documents and electronically generated documents such as PDF, TIF, JPG, etc., identifying letters and numbers in images and converting them into sentences that you can search, edit, archive and distribute according to your preferences.
The difference between a traditional scanner and an OCR program is that the latter streamlines data entry by optimising the work process.
The scanner creates an electronic snapshot, a simple image, and the information displayed on the photo cannot be edited or transformed in any way.
Instead, with OCR technology, once you have scanned the document you need, the data is automatically retrieved and you can alter it as needed. Also, because we're talking about recognising characters, sentences and all the information contained in the document, the software allows you to search it much more easily using keywords, a benefit missing from traditional scanning.
Because it facilitates data entry, processing and distribution, OCR software is recommended for contractors when managing invoices and contracts, receipts, tax receipts, bank statements and similar documents.
For an entrepreneur, the advantages of using OCR software include:
- automation and simplification of data entry;
- immediate processing of information;
- automatic recognition of invoice data and their transfer into accounting software;
- the possibility of converting handwriting;
- search documents easily and quickly.
The Banqup platform is one such application that streamlines the retrieval and processing of data from images or PDFs of documents, using OCR technology software. Banqup enables the management of tax documents by converting them into electronic format, and reduces the administrative burden on entrepreneurs.
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