Key Benefits of OCR-Based Data Entry Methods for Businesses

One of the most widely implemented types of data entry methods is none other than Optical Character Recognition (OCR). It involves digitized scanning and recognition of printed or written text. First, the text is photoscanned, analyzed and is eventually translated into character codes. It is easier to search this machine-coded text and edit it electronically. The process of data entry has been significantly improved due to OCR. Thanks to this technology, scanned documents can be quickly converted into searchable text files. It is also easier to share these scanned documents through the electronic medium and conveniently view them when required.

Some of the key benefits of OCR-based data entry methods for businesses are:

Higher productivity

Businesses can achieve higher productivity through OCR technology because it facilitates quicker data retrieval when needed. The effort and time that employees had to put in for taking out relevant data could now be used for focusing on other core activities. In addition, employees don’t have to make several trips to the central record room for accessing the required documents because they can access them without moving from their desks.

Cost reduction

It is no longer necessary for businesses to hire professionals for performing data extraction when they are using OCR technology. This tool can be used in trimming a number of other costs, such as printing, copying, shipping and more. Thus, OCR can eliminate the cost of misplaced or lost files and can offer higher savings as the reclaimed office space which would otherwise be used for storing documents.

High accuracy

Inaccuracy is one of the major challenges associated with data entry. When automated data entry tools like OCR technology are used, it automatically leads to reduced inaccuracies and errors, thereby resulting in efficient data entry. Moreover, problems such as data loss can also be tackled successfully by OCR data entry. Since there is no manpower involved, the issues like typing the wrong word or missing a word accidentally can be automatically eliminated.

More storage space

OCR technology can be used for scanning, documenting and cataloguing information paper documents all over the enterprise. This means that now it is possible to store data in an electronic format in the servers, which eradicates the need for maintaining huge paper files. In this way, OCR data entry can be one of the best tools for adopting a ‘paperless’ approach throughout the organization.

Excellent data security

Data security is extremely important for any and every organization. Paper documents are vulnerable to destruction and damage. They can be lost, stolen, misplaced or even destroyed by natural elements, such as fire, pests and moisture. However, this is something you don’t need to worry about when you have scanned, analyzed and stored the data in digital formats. In addition, it is also possible for businesses to minimize the mishandling of digitized data by limiting access to these documents.

In this way, OCR technology can prove to be immensely useful for a business and give them great benefits.