As new technologies advance, so do strategies for integrating them into the modern business environment. Businesses are increasingly using digital technologies to automate tasks and streamline processes like purchasing. One of the technologies that are extensively used in digitalization and automation is character recognition. Business organizations require software that can read the numeric or text information on the receipts in order to automate the processing of invoices.
Initially, image capture technology was limited to photographing documents. Following that, data from a document was scanned in order to improve image indexing and character recognition. Optical character recognition creates a document that is searchable and editable rather than just a still image. OCR significantly facilitated the digitization of documents and the processing of digital papers. However, it was difficult to read documents that were written by hand. An intelligent character recognition or ICR reader can be used to address this problem.
What is ICR – An Overview
A cutting-edge scanner called the ICR reader extracts handwritten text from images. So It is an improved form of OCR technology that uses various AI and ML techniques. It is capable of intelligently interpreting data in digitally written or printed documents by recognizing various writing and font styles.
Paper documents are scanned, their information is extracted, and the data is digitally stored in a database program using an ICR reader. The data is incorporated into organizational processes and used for analytical insights. Organization of unstructured data and the abolition of paper-based processes are two business goals that can be achieved by ICR solutions.
Comparison Between ICR Reader and OCR
Some businesses favor ICR recognition over OCR for a variety of reasons. The most successful approach combines both, with the important differences listed below:
- The OCR system extracts data using templates rather than utilizing AI or neural networks, as the ICR reader does
- Unlike OCR techniques, which use a particular format for data entry, ICR software can recognize a wide range of formats
- OCR is ideal for companies that only use a few different document formats. The ICR scanner is adaptable and equipped to deal with the constantly evolving nature of invoices
- OCR software needs staff to operate while ICR readers are completely automated.
- ICR systems only alert users when it is needed, in contrast to OCR-based systems that require human intervention.
- Users find it difficult to search through documents created by OCR files in business databases because they only produce PDFs of documents once. Scanner ICR makes data retrieval simple and saves read information.
The Working of an ICR Recognition System
Businesses can use the ICR reader to extract documents. The operation of this system is explained as follows:
- The ICR scanner receives uploaded documents
- Trained APIs can read and scan image details. The software automatically translates any handwritten fonts and text using an existing database
- The ICR reader requests that the user upload handwritten signatures in order to confirm their identity
- Key-value pairs are used when data is extracted automatically from documents
- The documents are edited and proofread thoroughly before sending to the customer for review.
- If not, information from the fields has already been automatically added to the systems for payable accounts to maintain the record.
Advantages of an ICR reader
The ICR reader self-learns how to extract data from handwritten files using AI and ML algorithms. It adjusts, develops, and gets better at digitizing the data each time it comes across a new handwriting style or font. The ICR recognition system has the following benefits for businesses:
- ICR readers are dependable and work best for categorizing electronic record archives. It can be utilized for document management as well.
- Businesses that deal with different types of documents, such as transcription services, use scanner ICR.
- ICR services offer strong data validation while eliminating the need for manual data entry. This facility can assist employees in working more efficiently and productively.
- Online solutions of intelligent character recognition assist businesses in securely preventing data from unauthorized access while enabling data upload to cloud storage.
ICR is a more advanced iteration of OCR. The main distinction is that ICR can recognize human handwriting while OCR excels at documents created by computers. However, the accuracy varies depending on how legible the handwriting is. As a result of ongoing technological advancements, intelligent character recognition technology is becoming more accurate and precise. In order to support various handwriting styles, the AI and ML methods utilized in the ICR reader are constantly evolving. ICR models will be updated and work more efficiently with more user data.
ICR techniques continuously learn new writing styles by reading the handwritten fonts, which improves their capacity to forecast them and automatically upgrade their database. Before entering data, it is essential to manually review fields because ICR models occasionally have trouble understanding incorrectly written fields.