Optical Character Recognition: How Using OCR Software Can Increase Business Efficiency

Optical Character Recognition: How Using OCR Software Can Increase Business Efficiency

Man sitting at a desk working with a calculator and notebook

In our age of advanced technology, almost everything in the business world has gone paperless. However, many companies still rely on physical documents that are “unreadable” by computers, such as scanned copies and handwritten notes. The integration of optical character recognition (OCR) software can streamline internal processes and increase efficiency by translating this extraneous paperwork into editable files.

Save Time

The time saved using OCR software is one of its primary benefits. According to PayStream Advisors (now Level Research), when asked to rate the level of “pain” associated with invoice processes, manual data entry rated the highest, with a score of 3.27 out of 5; error correction was a close second at 3.17. With OCR software, personnel can easily scan the documents into digital formats and quickly extract data as needed. Overall, OCR can reduce the time spent on physical paperwork by 75 percent.

Reduce Costs

By streamlining internal processes and helping employees work more efficiently, businesses can effectively reduce costs with OCR software. Its economic benefits span industries and can increase efficiency for a diverse range of businesses. Some examples of real-life OCR software applications include:

  • Letter sorting for the United States Postal Service for fast, accurate mail delivery
  • Digitizing sensitive legal documents quickly for easy organization and avoidance of human input error
  • Saving copies of identification cards and documents for digital filing in insurance offices, police stations, and airports
  • Processing important financial paperwork in accounting and bookkeeping settings for easier auditing and reporting

  • Secure Documents

    By storing scanned documents in a cloud or on a protected drive, business owners can prevent the potential threat of unauthorized access to paper files. If a client finds that their personal information has been breached due to lack of diligence on the corporate end, they’re likely to take their business elsewhere. With OCR software, client documents can be scanned and immediately saved to a safe location, leaving hard copies to be sent to the shredder instead of vulnerable filing cabinets.

    Protect the Environment

    Sometimes making the transition to more ecologically sound business practices involves a large investment of time and funds. OCR software can not only help businesses realize a significant return on investment, but it can also provide an opportunity to effortlessly go green. Paper documents can be shredded and recycled, and there’s no need for the excessive use of staples, tape, ink, and other expensive, wasteful office supplies.

    At Susco, we believe in efficiency at all levels. We optimize our own internal processes so that we can more effectively help you and your business streamline workflow and increase productivity. To learn more about customized optical character recognition software or our other software solutions, call (504) 264-9343.

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