In today’s fast-paced world, businesses deal with countless documents regularly and invest a lot of money in manual data processing, which is very time-consuming and vulnerable to human errors. Many companies have used optical character recognition services to process customers’ information.
Still, these are inadequate as they only redeem data from printed files and cannot extract information from handwritten files. For this reason, businesses should incorporate more advanced Intelligent Character Recognition (ICR) solution providers to overcome these issues.
What is Intelligent Character Recognition (ICR)?
ICR is an advanced technology that uses machine learning algorithms to scan and extract information from handwritten paper-based documents and convert them into a digital format, such as application forms, surveys, and other paper documents.
It stores this data digitally in the company’s database. Many businesses use this technology to organize unstructured data and obtain customer’s identity from these reports. It is an accurate and reliable way of processing data.
Intelligent Character Recognition (ICR) Process
- Image capture: The first step in the ICR process is to scan the printed forms or any handwritten document and convert it into a digital image.
- Pre-processing: This digital image is then pre-processed by removing the background noise that may affect character recognition to enhance the quality of the image.
- Character analysis: After removing the unwanted backgrounds, the Intelligent Character Recognition System locates each character individually and analyzes them separately from the surrounding text.
- Mathematical representation: The features of each character are analyzed and encrypted into a mathematical representation.
- Pattern recognition: These characters are compared to the known characters in the pre-existing database to classify and identify them to their closest match.
- Digital output: These recognized characters are converted into digital text for further document analysis.
Applications Of Intelligent Character Recognition
ICR scanning software is essential in obtaining information from hand-written documents and converting them into digital form. Many industries utilize this service to process their document information.
- Financial institutions and banks incorporate intelligent character recognition to obtain information from handwritten loan applications, surveys, and checks, enabling them to process customer’s data digitally.
- Educational institutions such as schools use ICR technology to read text-based student notes, which enables them to enter this information into the school’s database for the grading system.
- E-commerce platforms and other online stores use ICR to capture customer’s electronic signatures, allowing users to access these stores by logging into the store’s database.
- Property contractors utilize ICR to scan the land documents and verify their ownership. However, the landlords use it to verify their rental agreements with tenants electronically.
- The healthcare and logistics sectors also implement the ICR process to streamline operations by scanning customer invoices, receipts, and address proofs.
- Insurance companies also use ICR to digitize the documents for filing claims. It improves transparency, simplifies customer policy renewals, and facilitates the online data verification process.
Pros Of Using ICR Solution Providers
Businesses need to incorporate ICR solutions in their operations to save data processing time and enhance data security. ICR has several essential features, and some of them are as follows:
Process Documents More Accurately
ICR solution providers use AI-powered neural technology algorithms to enhance the system’s document scanning and reading capabilities. This provides a more accurate data processing service as all the printed text is captured into the system digitally.
Time Efficient
Businesses can handle piles of documents by utilizing the ICR service. They don’t need to hire a human workforce to manually enter each document’s information. Scanning these documents through intelligent character recognition can do this task quickly and efficiently.
This service automates the workflows and ensures that all urgent tasks are handled quickly, enhancing the customer’s overall experience.
Eliminate Manual Data Entry Work
The ICR technology recognizes the text documents in digital format with a very high accuracy rate as it does not require a manual labor force to manage the sensitive files. The data that is entered manually can be prone to various human errors.
Businesses should invest in ICR services to automate their important document processing tasks, as automation is the future of all businesses.
Improve Data Security
Businesses regularly deal with many documents containing customer’s sensitive information, Name tags, driver’s licenses, visas, and social security numbers are a few examples of types of identification documents. If they use a manual workforce to enter this data manually, the information can get leaked and used for criminal purposes. For this reason, companies should incorporate ICR solutions to automate data processing to ensure data security and eliminate the risk of privacy concerns.
Final Thoughts
ICR solution providers are essential in automating the data entry process. It revolutionizes the way of data processing by transforming handwritten documents into digital formats, which is utilized by various industries.
ICR optimizes the workflow which leads to more digital, effective, and secure operations as it is a very accurate data processing service. It also enhances the customer’s overall experience which improves the company’s reputation.
