OCR (Optical Character Recognition) is a technology for automatic recognition of text and characters on printed and handwritten documents. In accounting and invoice processing, OCR is an important technology because it replaces time-consuming manual entry of invoice data. Automatic data capture allows accountants to save time and money while increasing the accuracy of invoice entry.
OCR software uses algorithms and artificial intelligence to recognize letters, numbers, and symbols on a document and convert them into digital data. First, the document is scanned and the image file is analyzed by the OCR software. The software then recognizes the text blocks and distinguishes between characters and background. Then the characters are converted into digital text and stored in a database.
The accuracy of OCR technology depends on several factors, such as the quality of the scanned document, the font, and the language. For documents that are easy to read and have unique fonts, OCR achieves up to 99% accuracy. However, with poorer scan quality or more complex fonts, accuracy can decrease.
The speed of OCR technology depends on the size of the document and the processing power of the computer. However, modern OCR software can process large documents in a matter of minutes, which saves a significant amount of time compared to manual data entry.
OCR is used in many areas today, including accounting and bookkeeping, healthcare to capture patient records, archiving documents, and digitizing historical texts and books.
Finui is a modern accounting software that uses OCR technology to automatically recognize invoice texts. With finui, accountants can easily and quickly convert scanned invoices into digital data. By automatically capturing invoice data, accountants save time and can focus on more important tasks. In addition, Finui enables seamless integration with other accounting and ERP systems to streamline the entire accounting process.
OCR technology is an important innovation in accounting and invoice management. It enables more efficient and accurate capture of invoice data, which can result in significant time and cost savings. By using OCR software like Finui, accountants can reduce their workload and devote themselves to more important tasks.
We need only a few data for your account creation. After entering the data you will receive an activation email with which you can safely create your account.
After logging in, you will receive an individual email to which you can send all invoices as attachments.
Set up cost centers, approvers and all other roles with our intuitive interface based on your needs. If you have any questions, we will be happy to help you.
In the United States, businesses have legal obligations to maintain accurate financial records, including invoices. Keeping these records is not only a legal requirement, but also essential for maintaining the financial health of a company.
Have you ever wondered how you can use time and resources more efficiently in your company? An automated solution for invoice receipt can provide you with valuable support. Read on to find out why you should opt for such a solution.