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OCR software and digital invoice processing: what is a “smart” OCR system?

That digital invoice processing with OCR software can save you a lot of time is something that the majority of companies know by now. A good scan and recognize solution ensures that employees in the financial administration have more time for tasks with which they can really add value to the organization. But what should you really look for when looking for a solution? And why should you choose smart OCR software over its ‘regular’ counterpart?

Regular versus smart OCR software: what are the 3 differences?

Smart OCR software is the next step in OCR. There are 3 main differences from regular OCR software:

  1. Smart OCR software does NOT work with a fixed template. The software is so intelligent that it can interpret the invoice as a human would. For example, if an invoice date is in a certain place and consists of certain values (such as “2 digits, dash, 2 digits, dash, 4 digits”), the system can be trained to look for these values for every invoice near that place. With regular OCR software, this cannot be done: if the invoice date is not in the place where a rectangle is “cut” in the template, it is, by definition, not recognized.
  2. A smart OCR system watches how users interact with the suggested values. If they deviate from expectations, the system automatically adjusts them. If the OCR software initially mistakes a project number for an order number and the user enters these values in reverse, that logic is applied the next time. This principle also comes in very handy when one supplier sends invoices with different layouts (for example, because it has multiple branches). With regular OCR software, the template would be immediately unusable in such a case. But smart OCR software has the ability to learn how to process these invoices.
  3. Joining forces almost always results in more benefits. This is the case with smart OCR software, which applies knowledge gained throughout the user community. Suppose you receive an invoice from your telephone provider and certain elements are not immediately recognized correctly. As a user, you adjust the values. The OCR system registers this in order to recognize these values the next time. If there are other users in the community who receive invoices from the same phone provider, the system immediately takes this knowledge for them as well. Handy, because that way everyone benefits!

What are the benefits of smart OCR software?

Anyone who still works exclusively on paper (or has done so in the past) knows that overtyping is incredibly tedious and time-consuming. If you use a regular OCR system, you get rid of that, but you still have to perform all kinds of actions to train and maintain the software. A pity, because that time would be much better spent analyzing the invoices you receive. Only with smart OCR software can you be sure of optimal digital invoice processing. Why? We list the benefits for you!

  • You always benefit from the best recognition. The results get better and better, and you don’t have to do anything for it yourself (whereas you have to retrain a regular OCR system with each supplier).
  • Your time savings are optimal because you do not have to create templates (which you have to do with regular OCR software). This allows you to work even more efficiently.
  • When you process the received data in your accounting package, smart OCR software automatically adjusts the logic.
  • You benefit from the knowledge within the user community.
  • With a new supplier there is almost always 100% recognition immediately, because this has already been arranged for you. And if this is not the case, you can rest assured that the recognition will go smoothly the next time.

Where can you find smart OCR software?

While plenty of old-fashioned systems still exist, some OCR vendors have now moved away from working with rigid templates. But there is only one party that automatically adapts logic and shares knowledge within the user community: Whitevision. Comparing scanning and recognition software? That’s always a good idea. Want to learn more about our OCR solution and read what optimal digital invoice processing looks like? Browse through the articles in our knowledge center.

What is smart OCR software?

Read more!

Benefits

  • High rate of recognition

  • Learning from users

  • Work smarter

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Want to make your process smarter?

Would you like to discuss how your organization can benefit from all the advantages we described above? Feel free to contact us or check out our LinkedIn page. We will gladly look at your possibilities together.

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With a (web) demo, you can quickly and easily see what benefits our solution brings you.

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Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

This field is for validation purposes and should be left unchanged.

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

This field is for validation purposes and should be left unchanged.

Schedule your demo

With a (web) demo, you can quickly and easily see what benefits our solution brings you.

This field is for validation purposes and should be left unchanged.