ARDEM was contacted by an American educational non-profit that helps college students make smarter choices while applying for financial aid by weighing their options across several universities in the United States.
OCR-backed invoice capture is being touted as a game-changer in invoice processing, accelerating data collection for faster approval and payment cycles.
However, while automated OCR or optical character recognition has brought about a revolution in the standard invoice management process, it’s not enough on its own to carry out a successful accounts payable operation.
OCR (Optical Character Recognition) works by converting images of handwritten or printed text into machine-encoded text. This text is made readable by machines and aims to automate data extraction through data capture technology. While this technology is used widely today, it does require some manual effort in order to produce the highest amount of accuracy, especially with utility bill auditing. Depending on the quality of the handwritten or printed text, OCR technology may choose a specific character based on what it determines is the best match. So how well does OCR automate your invoice and utility bill processing? Read More