Total Cost of Ownership of an OCR Software

What is TCO (total cost of ownership)?

Total Cost of Ownership

The Total Cost of Ownership (TCO) is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or service. It is a management accounting concept that can be used in full cost accounting. (Wikipedia).

TCO is a popular concept when it comes to comparing Software. It allows you to estimate the cost of using the OCR software and plan your automation strategy according to your possible workload and budget over time.

There are several aspects that are too circumstantial to be able to include in general cost estimates, but there are some that we know for a fact, and we can combine them in a total cost of ownership for each OCR scenario and compare them to the possible solutions on the market.

Front-End Cost

The first and most obvious element is front-end cost. This is the price that will be presented with the product, and the marketing team will be pointing towards special offers and discounts to cut it down. It is an important factor, but it is far from everything you would need to take into account. And yet, even here, there are different options. Some of the OCR solutions will offer you the “pay and forget” option of making one payment right here, right now. However, lately, the annual cost or subscription model has become more and more popular, allowing customers to spread costs over time and OCR creators to organize a steady flow of income.

Cost of Support and Maintenance

The second element of the total cost of ownership would be the cost of support and maintenance. Theoretically, it is possible to avoid […]

OCR Guide

What is OCR?

OCR stands for Optical Character Recognition and is the technology that allows software to interpret text on scanned images. When this technology is applied to automating business data entry processes it’s referred to as OCR Data Capture.

Many are familiar with popular desktop OCR applications designed to convert scanned images to editable documents. When this process is applied to specific areas of the document containing data fields it’s called zone OCR. But OCR data capture software is more than just simple zone OCR. Modern applications use some or all of these technologies:

Handprint recognition (ICR or Intelligent Character Recognition) for forms processing.
Advanced rules-based templates for locating common data elements on pages with different layouts and formatting.
Artificial intelligence that is able to use point and click user feedback to train recognition templates automatically.
Natural language processing is able to interpret paragraphs of text and extract meaningful data from them.
Robotic process automation puts back office integration into the hands of power users instead of programmers.
Preconfigured form templates and business rules for common applications like invoice processing and healthcare claim forms.

80%

Using the OCR software enables enterprises to reduce the document processing time by as much as 80%

Benefits of using OCR

If not for the trees then do it for the savings on paper, toner, copiers and their services contracts, etc.

How much time is wasted searching for paper files? Digital documents can searched and viewed instantly from anywhere.

Paper is much harder to backup and restore than digital data.

Office square footage and off-site records storage adds to the cost of keeping paper documents.

Government mandates for records retention […]

FlexiCapture and Vantage Natural Language Processing (NLP)

How to train NLP machine learning model

Today different industries face similar challenges as they seek to extract information from business documents, such as policies, e-mails and legal agreements – and most agree that is costly, time consuming and prone to errors with manual data entry.

In this video you will learn how to train NLP machine learning model in FlexiCapture to extract entities and text passages from Lease agreements.

Converting unstructured documents into structured data automatically makes this information available to your business applications while saving you time, money, and labor in the process.

Adding a field which is captured by flexilayout to a NLP-trained Document Definition

You can add the new flexible layout as additional layout to the existing one.
To do that, please open the Document Definition Editor, go to the Section’s properties and load the new layout as additional FlexiLayout.

Catherine2022-06-21T14:38:46-04:00Tags: AI Classification, AI OCR Training, Artificial Intelligence, Automate Data Entry, Data Capture, Data Extraction, Electronic Data Capture, Extract Text from Image, Machine Learning, NLP, OCR Solution, OCR Text, OCR Training, PDF Text Extraction, Robotic Process Automation, RPA, Text Recognition|

Robotic Process Automation

Introducing Robotic Process Automation

RPA stands for Robotic Process Automation and it represents a new approach to business automation that helps minimize the technical hurdles required for implementing new workflows.

Traditional business process automations rely on application programming interfaces (APIs) to allow systems to exchange data. This approach has two main drawbacks:

The application vendor must make those APIs available
A programmer needs to write custom code to interface with them

If your software vendor does not provide an interface for consuming the data you need to automate, then you’re out of luck. And even if they do, the development costs can eliminate the ROI if the transaction volume isn’t large enough.

RPA tools avoid the API problem by interfacing directly with the application user interface just like a human would do. They use artificial intelligence and machine learning to “watch” the operator perform a task within the application then creates its own program (called a “bot”) to mimic it. This means that:

Bots can do anything a human can do within the application
Users can create a bot without writing code

Practically speaking, an experienced robotic process automation consultant with programming experience is required to roll out an RPA solution enterprise-wide, and most users will only be able to automate small, routine tasks without assistance. Business-critical, high-volume automations will still involve coding. But RPA dramatically reduces the implementation time and avoids the need to retrofit APIs for software applications that were not designed to support them.

Using RPA with OCR Data Capture

OCR Data Capture is one of the most common business processes to automate with RPA. Taking data stored in paper or electronic documents and […]

OCR Data Capture

What is OCR Data Capture?

document OCR process automation OCR stands for Optical Character Recognition and is the technology that allows software to interpret text on scanned images. When this technology is applied to automating business data entry processes it’s referred to as OCR Data Capture.

Many are familiar with popular desktop OCR applications designed to convert scanned images to editable documents. When this process is applied to specific areas of the document containing data fields it’s called zone OCR. But OCR data capture software is more than just simple zone OCR. Modern applications use some or all of these technologies:

Handprint recognition (ICR or Intelligent Character Recognition) for forms processing.
Advanced rules-based templates for locating common data elements on pages with different layouts and formatting.
Artificial intelligence that is able to use point and click user feedback to train recognition templates automatically.
Natural language processing is able to interpret paragraphs of text and extract meaningful data from them.
Robotic process automation puts back office integration into the hands of power users instead of programmers.
Preconfigured form templates and business rules for common applications like invoice processing and healthcare claim forms.

Enterprise data capture systems provide interfaces for scanning, recognition, data verification and export, as well as management and monitoring tools to track large volumes of documents and data through the workflow.

Who can benefit from OCR data capture software?

messy business information made easy with ocr data capture Any organization that collects data from paper documents, or electronic files like PDF and Office documents, can get a very high return on investment by automating the data entry with OCR data capture software.

You do need to have a significant number of documents to […]

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Using OCR with Robotic Process Automation (RPA)

Robotic Process Automation of Data Entry — Robotic Process Automation can simulate human user interfaces to allow code-free application integration for data entry workflows

Robotic Process Automation applications like UiPath and Blue Prism have revolutionized the way that enterprises provide systems integrations and automate repetitive tasks. For any task that involves data that comes on a document, OCR is needed to fully automate it.

An example RPA OCR workflow using an Accounts Payable Invoice automation would be:

Bot signs on to Vendor website
Bot navigates to Invoice Download page and downloads invoice batch PDF
PDF is handed off to FlexiCapture for Invoices RPA interface for data extraction
XML is returned to Bot containing header (invoice number, date) and line item data (items, quantities, pricing) for each invoice
Bot opens accounts payable data entry screen in accounting software
Data from each invoice is entered and submitted by the Bot

Since RPA simulates the clicks and keystrokes that would normally be made by a human operator, bots are able to interface with any software, database or website regardless of whether an Application Programming Interface (API) has been made available. This gets around the hardest part of most data entry automation processes–the need to write code.

ABBYY FlexiCapture integrates with RPA applications like UiPath and Blue Prism to perform OCR data capture services that can be called directly from a bot’s workflow.

ABBYY FineReader Corporate and FineReader Server can be integrated for full-text OCR.

Our OCR experts are also UiPath certified and can deliver end-to-end RPA OCR solutions for your project. Please […]

aaron2022-06-21T14:56:38-04:00Tags: AI OCR Training, Artificial Intelligence, Automate Data Entry, Data Capture, Knoxville Robotic Process Automation, Knoxville RPA Consultants, Knoxville UiPath Consultants, Machine Learning, OCR Solution, PDF Data Extraction, Robotic Process Automation, RPA|

OCR to Database

Data is Everything. It does not matter in what field your company works, after all everything will be distilled into digits of data and accumulated in Database to be processed, stored, repurposed and reassembled again, again and again. All organizations have database, that acts as a repository for all of their information. And you may survive with manual data entry, or using spreadsheets or just folders with documents for some time, but eventually just mare amount of Data will become overwhelming.

Luckily there are plenty of solutions for your Database. You can choose between SQL (MySQL, Access, Postgres, …) or NoSQL (Mongo, AWS, …) solutions for storing and processing Data, but there will be always an issue of how raw unprocessed digits get from images or texts into more structured form of your Database. Identifying and transferring all of this data can be a bit of a task. Misreading data or mismatching of data to fields could easily ruin your data processing system. Thus, precision of data character recognition becomes essential.

One of the solutions is to keep these processes of scanning and data transferring separate. You can use one software for character recognition and transferring data from image to PDF or text document. And then to use PDF (or text) to database converters to extract that data into your database format. The very obvious disadvantage of this approach is that it adds the whole extra step into your data processing. You will start accumulate additional errors, will add time for setting up additional conversion, will add time to data processing and will add time for inevitable error identifying and bug fixing. It may work for smaller companies, but on larger enterprise level it becomes cost prohibitive.

Another solution is OCR to Database direct approach. […]

HealthCare Claims Forms Processing

Automating Medical Forms with OCR

Perform your claims processing faster, with less errors and effort using OCR.

Once the form is scanned, our software:

Electronically isolates and records information provided in the different fields
Transfers and fills that information
Checks for errors and flags those errors for easy verification.
Automatically generates the proper organization and format of the form to meet requirements
Accurately submits and stores your claim

By expediting claim processing and increasing accuracy,

you can decrease the overall time it takes to process claims to ensure faster payments.

The open architecture and technology allow for flexibility

to customize and enhance system operations to specifically fit your organization’s unique requirements and easily meet changing healthcare industry standards.

In coordination with our team of experienced professionals,

we can provide the critical expertise and effective ongoing support that you need to succeed in the ever-changing healthcare industry.

Other functions and benefits include:

Index forms for instant searching and viewing
Reduce the risk of combining redundant member information
Customized to specifically fit your company’s requirements
Improve exception handling
Maintains both professional and institutional claim types with all required information
Reduce errors
Increase accuracy, productivity, and profitability
Predefined templates for fast implementation

The forms CMS 1500 (formerly HCFA 1500) and UB-04 are the most common medical forms used to submit a claim. The form CMS 1500 is the universal claim form used by non-institutional healthcare providers, such as private practices, to bill specific covered services. The form UB-04 is very similar to the CMS 1500, but it is used by institutional healthcare providers, such as hospitals, to submit claims. […]

Nikita2022-06-21T11:25:28-04:00Tags: Automate Data Entry, Best Software to Create Forms, Data Capture, Data Extraction, Electronic Data Capture, Forms Processing, Healthcare OCR, Knoxville TN OCR Solutions, OCR Form, OCR Form Software, OCR Solution, PDF Data Extraction|

SimpleOCR | OCR Software Experts

Learn More Download Now

Document Scanners
& Scanner Parts

Accurate OCR starts with quality images. Efficient OCR starts with fast scanning. Find Document Scanners built for OCR at ScanStore.

Our Team of OCR experts is here to help! SimpleOCR is not just Freeware, we have every kind of OCR solution from PDF Converters to Enterprise Data Capture, OCR Servers and Handprint Recognition for Forms and Surveys. Live chat with an OCR specialist now or Contact Us for a consultation on your OCR project.

SimpleOCR is the popular freeware OCR Software with hundreds of thousands of users worldwide. SimpleOCR is also a royalty-free OCR SDK for developers to use in their custom applications.

SimpleIndex is OCR built for business, offering powerful batch scanning, OCR server, and data capture features with a simple user interface and affordable licensing.

If you like free stuff, freeware versions of our SimpleView Document Viewer (with Tesseract OCR), SimpleCoversheet Bar Code Printer, and SimpleExport CSV to XML Converter are also available.

If you have a scanner and want to avoid retyping your documents, SimpleOCR is the fast, free way to do it. The SimpleOCR freeware is 100% free and not limited in any way. Anyone can use SimpleOCR for free–home users, educational institutions, even corporate users.

If your documents have multi-column layouts, non-standard fonts, tables, poor quality or digital camera images, you will not have much success with applications based on free and open source engines like SimpleOCR and Tesseract. You will need a commercial OCR application to get an accurate read. Our OCR Guide compares desktop and server […]

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Forms Processing

What is ICR, Survey & Forms Processing?

ICR stands for Intelligent Character Recognition and is the technology that allows software to interpret hand printed text on scanned images.

Data Capture Forms OCR Forms Processing Software uses ICR technology to automate data entry tasks involving hand-filled surveys, applications and forms. It provides interfaces for scanning, recognition, data verification and export, as well as management and monitoring tools to track large volumes of documents and data through the workflow.

Forms Processing also includes OCR (Optical Character Recognition) technology to recognize machine printed text, and OMR (Optical Mark Recognition) for check boxes and multiple choice bubbles.

It is also possible to use these applications to automate data collection from PDF forms, Word documents, Excel spreadsheets, and other formats used to fill out forms electronically. Many include the ability to publish forms as paper, fillable PDF and web pages simultaneously to distribute and collect data from multiple sources into one dataset.

Who can benefit from forms processing software?

Any organization that collects data on paper-based forms, surveys or applications on a regular basis can get a very high return on investment by automating the data entry with forms processing software.

You do need to have a significant number of forms to justify the expense– at least a hundred forms per month or more depending on how much data is being captured. If the data entry task can be done in under 100 man-hours then it is not a good candidate for automation with ICR software.

Organizations that have many separate departments that collect data on forms can share the budget for forms processing software by re-using it for other projects. Your current project may not be big enough to justify the expense, but when combined with one or two others it would be.

How much do […]

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Applications

When you scan a document that has text or numeric data on it, you are able to read and understand what is written in the scanned image. However, to a computer, the resulting image file is just as meaningless an assortment of pixels as a landscape photo. In order to transform this information into an editable format that you can search through, copy, and modify without retyping it manually, you will need the an Optical Character Recognition (OCR) software.

There is a wide variety of OCR software available. While they all share the ability to convert images of machine printed (not handwritten) text or numbers into an editable format, the various software often have different features, accuracy, prices, and language options.

You can find the various types of OCR software with a description of each below.

Users within a single department, working from home or who have a small business can simply scan their documents to a folder that is shared to everyone. In this “ad-hoc” scenario you only need some basic document scanning software to simplify and bring consistency to your filing system.

If you want to move to the next level, there are Desktop Document Management options that provide an all-in-one means for capture, storage, search and retrieval of documents. Additionally, they provide security, advanced capabilities and ease of use above that of the ad-hoc methods

And let’s not forget cloud-based options that alleviate the need to maintain storage servers or keep software up to date.

Need a simple, no frills OCR solution without spending hundreds of dollars on a professional software package? Look no further. There is a no cost, donation optional, OCR freeware solution […]

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OCR SDK

The SimpleOCR SDK is a fast, lightweight OCR engine designed to let developers add basic OCR functions to an application with minimal cost and none of the drawbacks of open source solutions.

The ABBYY FineReader SDK is a fully-featured OCR engine with advanced features like handprint recognition, barcode recognition, ID and business card recognition, and support for 200+ languages including Asian scripts, Arabic and Hebrew. FineReader SDK is available in both Cloud and On-Premise versions.

The ABBYY FlexiCapture SDK gives you advanced, AI-based OCR data capture capabilities like document classification, forms processing, invoice processing, and machine learning for training data extraction templates.

You can shop for all of these in our OCR store, and our expert staff will be here to advise and assist in your OCR development project. Contact us to see how we can help!

Atalasoft provides OCR SDKs that can be integrated into your desktop or web applications for manual or automated batch processing of images. These are an industry proven document transformation engines and add-ons to the DotImage SDK and can save countless hours and significantly improve accuracy. One of the main advantages is that it is mostly royalty free SDK with many different options and engines to choose from. Allowing you to create your own OCR components of your software with just one payment in front. Atalasoft OCR SDK has plenty of plugins to add more features like:

OmniPage OCR & ICR
Tesseract OCR
GlyphReader OCR
BarcodeReader 1D and 2D
Barcode Writer
DotTwain

Google Cloud Vision API offers powerful pre-trained machine learning models through REST and RPC APIs. Assign […]

aaron2022-06-21T12:11:19-04:00Tags: Artificial Intelligence, Best OCR Software, Best Optical Character Recognition Software, Cloud OCR, Compare OCR Software, Machine Learning, NLP, OCR Engine, OCR Library, OCR SDK, OCR Solution, SDK OCR|

OCR Solution

What is TCO (total cost of ownership)?

Total Cost of Ownership

Front-End Cost

Cost of Support and Maintenance

What is OCR?

Benefits of using OCR

If not for the trees then do it for the savings on paper, toner, copiers and their services contracts, etc.

How much time is wasted searching for paper files? Digital documents can searched and viewed instantly from anywhere.

Paper is much harder to backup and restore than digital data.

Office square footage and off-site records storage adds to the cost of keeping paper documents.

Government mandates for records retention […]

Introducing Robotic Process Automation

Using RPA with OCR Data Capture

What is OCR Data Capture?

Who can benefit from OCR data capture software?

Another solution is OCR to Database direct approach. […]

Perform your claims processing faster, with less errors and effort using OCR.

Once the form is scanned, our software:

By expediting claim processing and increasing accuracy,

The open architecture and technology allow for flexibility

In coordination with our team of experienced professionals,

Other functions and benefits include:

Document Scanners & Scanner Parts

What is ICR, Survey & Forms Processing?

Who can benefit from forms processing software?

How much do […]

There is a wide variety of OCR software available. While they all share the ability to convert images of machine printed (not handwritten) text or numbers into an editable format, the various software often have different features, accuracy, prices, and language options.

You can find the various types of OCR software with a description of each below.

Users within a single department, working from home or who have a small business can simply scan their documents to a folder that is shared to everyone. In this “ad-hoc” scenario you only need some basic document scanning software to simplify and bring consistency to your filing system.

If you want to move to the next level, there are Desktop Document Management options that provide an all-in-one means for capture, storage, search and retrieval of documents. Additionally, they provide security, advanced capabilities and ease of use above that of the ad-hoc methods

And let’s not forget cloud-based options that alleviate the need to maintain storage servers or keep software up to date.

DiVA (Cloud-based)

Title

Document Scanners
& Scanner Parts