It’s tough not to be amazed by our technological advancements. Our private and professional lives have been enhanced to such a degree that if technological advancement cease abruptly and without notice – or if we were taken back to the pre-technical revolution era the vast majority of us would be completely and miserably lost.
The good thing is that this is not going to happen. Technology progresses. Considering the ever-changing internet landscape, ultra-high-definition televisions, 3d scanning, and the start of the artificial intelligence age as proof that we exist in an evolving world.
OCR for receipts is also among these techniques that are improving its efficiency. Indeed, the technology is progressing so quickly that promoters have developed a new term to characterize the functionalities, intelligent character recognition (ICR).
What is Intelligent Character Recognition?
Intelligent character recognition (ICR) is best thought of as a derivation of optical character recognition – or data capturing of any kind – with one main distinction, intelligent character recognition allows you to effectively digitize files of various types.
ICR algorithm offers the most secure solutions yet to efficiently digitize data, transmitting every single important component of files of all layouts, from audit checks, client onboarding, claims management, supply chain management, HR archives or processes, or specialized papers of any kind.
With improved character recognition capabilities and a solid reputation for dependability, it’s no surprise that ICR is gaining commercial traction throughout the world – and might revolutionize paperwork and receipt capture in the next few years.
OCR vs ICR
Optical Character Recognition (OCR), is a software program that analyzes text in papers and is commonly used to convert large papers into digital form. ICR, or Intelligent Character Recognition, is software that identifies handwritten fonts and styles.
It is widely assumed that Emanuel Goldberg invented the OCR system in 1914 to read words and transform them into telegraph script to assist the blind in reading. Over the next generations, OCR technologies grew to what is utilized today. It can be seen in a lot of things and has become an important part of our lives as it is utilized every week.
OCR technology is utilized when a person travels through an airport, sends mail, or deposits a check at an ATM. While OCR software is widely used and successful, another improved technology is growing as the leader.
In the early 90s, ICR software became the upgraded version of OCR. Essentially, it is a stronger OCR that can concentrate on details. While OCR is typically used to retrieve typed texts that may be classified and searched, ICR recognition is capable of handling handwriting with more complex formats compared to OCR. Furthermore, ICR is a self-learning system that trains itself in new writing styles and improves data gathering from scanned files
What’s ICR Capable of?
When modern fonts and layouts or even new handwriting styles are added, most ICR systems contain a self-learning mechanism referred to as a neural network that automatically refreshes the system database and remembers the new fonts, layouts, and styles that are used.
When evaluating and scanning handwritten or organized format papers, creators of ICR technology claim that it has a 97 percent or higher recognition accuracy. Numerous read engines are employed within the program to accomplish such recognition accuracy. Each one can decide on the true understanding of the characters.
Intelligent word recognition (IWR) can also detect and retrieve unconstrained handwriting in addition to handwritten data. IWR software can recognize words and sentences, but ICR services recognize character ranges.
This is particularly useful for companies or people who want to convert information from handwritten words to a digital version.
Benefits of Intelligent Character Recognition
There are several advantages to using clever character recognition. Businesses will save time, cost, and personnel resources. By quickly detecting and retrieving vital material from faulty and old paper records.
Companies can use the retrieved data for digital sequencing and distribution of necessary documents. When used in conjunction with resource management or business process automated solutions.
So, what are the advantages of adopting ICR solutions in a commercial setting. Aside from the apparent benefit of increased dependability and data capturing trustworthiness over typical OCR, or for records of any kind?
No Manual Labor
Intelligent capture eliminates the need for employees to manually enter data when performing important business processes.
Enables Remote working
Intelligent capture lowers a company’s dependency on a single physical location. By allowing for simple and direct communication amongst colleagues operating in various places.
Enhanced Security
Intelligent capture guarantees that all material is swiftly and correctly directed to the appropriate categories. Protecting important or confidential documents, as well as cloud storage, is simple to accomplish. While this is similar to OCR, ICR’s increased identification skills can save firms money by preventing. Costly data breaches while also protecting sensitive information.
Data Compliance
Intelligent capture connects information to a paper trail. Assisting government compliance with all required regulations while keeping the most accurate record and critical data preservation.
Wrapping Up
Our ever-changing technical environment and online landscape have spawned dozens of new technological advancements. That was considered a fantasy just a couple of decades ago. Data capturing, OCR, and ICR technologies may not be as interesting to the general public as 3D printers or virtual reality, but it can change the way we handle our business operations.
