Ocr software for business cards
Adding this layer of transparency can dissuade potential fraud attempts. First, mobile-device based OCR client software can allow for policies that require real-time capture of receipts and other expense documentation. There are an endless number of possibilities here.Īn OCR based expense management reporting system can help defeat this type of expense management fraud in a couple of key ways.
OCR SOFTWARE FOR BUSINESS CARDS DRIVERS
…Getting the cab drivers to give them blank receipts, asking for double receipts at hotels and restaurants, masking one transaction as another, using cash to buy something and getting a blank receipt and putting in for more than the transaction it was.
Yikes.Ī CNN article cataloged a number of the expense reporting fraud schemes that employees can use: The people who study this sort of thing (the financial advisory firm, Stout Risius Ross, in this case) say that fraudulent expense reimbursement costs business over $1B annually. If these conditions apply, and OCR makes sense for your business, you likely have an opportunity to realize significant labor-based cost savings through a more automated and efficient accounts payable process. Second, if your accounts payable module doesn’t natively support OCR document management, you’ll need to use your AP system’s API to import data from the OCR application. First, there needs to be a significant volume of invoices from repeated vendors or suppliers, as the invoice processing software needs to be configured to interpret specific invoice formats. A successful OCR-enabled invoice processing system requires a couple key conditions. OCR can help streamlines the processing of invoices for payables record creation.
But if you are closer to double digits in terms of invoice processing, that amount of data entry is creating a significant overhead labor expense that’s unnecessarily cutting into your profitability.
If you are only creating payable records for one or two invoices a day, it’s probably not taking too much time. Manually entering data from electronic or paper invoices into accounts payable records is one of those repetitive tasks that’s ripe for an efficiency improvement. It’s always hard to justify paying an employee for something that can be done just as well automatically. Optical character recognition (OCR) software provides the ability to convert scanned documents and images into editable and searchable documents in a variety of output formats.Ĭonsider five different examples of how your business can begin using optical character recognition to create efficiencies and cut overhead expenses: 1. For these outliers, optical recognition software provides a solution. It’s also made records archival, searchable, sortable, and transferable–and businesses considerably more intelligent and nimble in the process.īut some types of documents and communication have remained stubbornly resistant to digitization. The digitization of records of all kinds has done a lot more than save paper, though. These days we’re all a lot closer to the summit than we might have ever expected. To help you choose the one that’s perfect for your needs, we’ve rounded up the best business card scanner apps.Once upon a time, the idea of attaining a paperless office seemed a bit like the business management version of scaling Mt. There are dozens of other scanner apps available for iOS and Android, with differing features. The Neat app transforms your device’s camera into a powerful mobile Business Card scanner that’s always at your side, making it easy to stay organized. But what if you could do the entire process yourself instantaneously? Business card OCR (BCR) deals with the problem by handing you an almost instant recognition of the business card, allowing you to extract and upload the data into a database for easier storage and retrieval. Is it possible to keep track of all these pieces of cardboard and fancy paper? Yes, if you have a secretary who does this work for you by filing all your business cards somewhere or manually entering the information into a computer.
OCR SOFTWARE FOR BUSINESS CARDS PROFESSIONAL
And nothing establishes professional contacts better, than a simple exchange of business cards. Whether you’re meeting a client to discuss a new project or attending an industry conference to pitch your product, establishing connections matters a lot. Networking with the right people is essential for the success of any business.