OCR Software vs Advanced Capture Data Extraction | Executive Briefing

OCR Software and What It Provides

This executive briefing explores OCR software and what it does as well as the advanced capture solutions available and what they do.

General purpose OCR vendors often state 99 percent accuracy. If general-purpose OCR is used for invoice recognition, the output is helpful for performing searches in a content management system, but completely inadequate for supporting a process where specific data is required. There is little meaning of 99 percent accuracy. Find out more in this executive briefing.

Data Extraction Software

Data location and extraction capabilities are often more advanced in document automation software or advanced capture than what is available using OCR software and/or custom software that is typically limited to X/Y coordinate based location or simple keyword searching.

Modern document automation software often includes specialized capabilities to locate data by more advanced techniques such as “region of interest” location or use of pattern recognition.

In the past few years, more solutions have adopted machine learning functions to automate configuration of the data extraction function meaning that service providers and businesses can onboard new clients in a much shorter amount of time.