Optical Character Recognition (OCR) is revolutionizing document management by converting scanned paper documents into searchable, electronic files. It allows businesses to automate tasks such as invoice processing, reducing time and costs while improving operational efficiency.
The whitepaper highlights the evolution of OCR technology and its application across industries like legal, banking, healthcare, and more. With advancements like Intelligent Character Recognition (ICR), OCR systems are now able to translate handwritten text into machine-readable formats, offering even more possibilities for automating data extraction.
- Advanced Image Processing: Techniques like grayscale thresholding and Mixed Raster Content (MRC) compression allow for higher OCR accuracy, improving data extraction and reducing storage costs.
- Document Capture: OCR begins with capturing documents through scanners, digital copiers, or even mobile devices, making it adaptable to various capture environments.
- Accuracy and Compression: OCR accuracy rates can reach over 99% when measured by characters, while compression rates can range from 10:1 on text-heavy images to over 100:1 on graphics-heavy files.
- Applications in Key Industries: OCR is essential in automating tasks in sectors such as banking, healthcare, insurance, and legal, where accurate data extraction reduces the costs associated with form processing.
By implementing OCR, businesses can unlock new efficiencies, reduce manual processes, and leverage digital workflows for more accurate data management. Foxit’s solutions, including PDF Compressor, offer advanced OCR capabilities that integrate seamlessly into existing workflows, ensuring compatibility and improving the performance of existing systems.
Download the full whitepaper to explore how OCR can transform your document management and improve your organization’s efficiency.