OCR software: do’s-and-don’ts when looking for a vendor

In finance, you are always looking for ways to improve your processes. With that in mind, you want to eliminate repetitive, manual tasks as much as possible. Because that’s how you save time, work more efficiently and minimize the error rate. As a result, you have more room to take on challenging work that allows you to add more value to the organization. The first step toward a job satisfaction that benefits you and your company? A good OCR software.

Optical character recognition in a nutshell

OCR software is based on the technique of Optical Character Recognition. With this, a computer reads letters, numbers and punctuation from a picture. OCR software allows you to convert paper documents into digital files that you can edit and archive. This way you convert any incoming document to editable text in no time. (Want to know more? Read our blog “What is OCR?”)

When comparing OCR programs, it is important to realize that you have several options. So many options now exist in the field of OCR technology and software that it can leave you dizzy. The key question: what should you all look out for when looking for a good OCR vendor? In this blog post, we list the do’s-and-don’ts for you.

‘Do’: determine what conditions OCR software must meet

First, take a look at where your organization stands and what problems you are experiencing. Do you spend a lot of time looking up invoices that are already booked? Want to get rid of overtyping errors? Do suppliers routinely ask questions about invoices, causing you to spend a long time trying to surface the correct information?

Once you have defined the current problem, you can determine what the process of document processing should look like. Then you can look very specifically for the OCR software that fits your organization!

‘Do’: engage with the supplier

When you purchase OCR software, you are making a long-term investment. Therefore, it is crucial that you partner with a vendor that understands your needs and organization. A party that thinks with you – now and in the future.

Have you found software that appeals to you? Then have a conversation with the supplier. See if they are at home in your industry and jargon, as well as if the company culture fits your organization. If a supplier is very traditional while your company is young and modern, there may not be a match. And you may not understand each other as well. Always be sure to ask through so that you choose a supplier with whom you can work sustainably.

‘Do’: do thorough research on an OCR party

Do you have a good feeling about a particular OCR software vendor? Then it is time to check whether you are dealing with a reliable party. How long has the company been in existence? Does it have a large, solid customer base? Does the vendor develop its own software, giving you many options to implement specific requirements?

To answer these questions, you can start by talking to your ERP vendor. Ask if they have any advice and can refer you to customers who have experience with the OCR party in question. If an OCR vendor offers a link to your ERP package, that’s a big plus. After all, as a customer, you always benefit from a strong partnership.

If a particular OCR party has piqued your interest, see if it has customer cases on its website. These help you determine whether the vendor in question can meet your organizational needs. In addition, ask the OCR vendor for references. A client visit with a referee can be very helpful, because you see exactly how scanning and recognizing a document works in practice. You can also ask the existing customer what it is like to work with this vendor.

‘Don’t’: get swayed by price (or opt for free OCR software)

It is tempting to go for bargain-priced or free OCR software. But often, cheap is expensive. Ultimately, you want an OCR solution to help you move forward. If you invest little or nothing, then as a rule the software won’t benefit you either.

By the way, this does not mean that you should necessarily choose the most expensive option. What you want is the best OCR software. Because by doing so, you reduce repetitive work to the bare minimum. This way you work more efficiently and achieve maximum time savings. And that is the ultimate goal!

‘Don’t’: making decisions without users

Users are essential. They are the first to recognize the added value of OCR software. And the success of a solution depends on them, because they will ultimately work with it on a daily basis.

If you don’t involve them in the decisions, you are unlikely to choose the optimal software and setup. Only with input from users do you ensure that the output is as efficient as possible. After all, they are the ones who know the practice of administrative processes. So involve them in the decisions you make regarding OCR software!

‘Don’t’: ignore internal objections

Although you can no longer avoid digitization, there are some internal objections to it. Sometimes employees are afraid of becoming redundant when the software is running. Is this the case within your organization? Then don’t ignore the problem.

It is crucial to make it clear to people that they actually become more valuable to the organization when document processing is automated. After all, they have more time for more important tasks. They can, for example, scrutinize procurement contracts more closely or take on accounts receivable management more thoroughly.

Take space to explain this well to employees who are reluctant to embrace a new technology. This is the only way to make an OCR system a success!