Document Digitization With OCR Is Not Digital Transformation
At one point, Optical Character Recognition (OCR) was the most groundbreaking solution in the world of document processing.
However, now in our era of AI and digital transformations, OCR has misled teams into thinking that it is still today’s state-of-the-art document digitization solution.
Furthermore, most companies believe their document-related tasks are already digitized because they use PDFs but forget that PDFs still require many stages of manual processing.
This misconception is holding companies back from achieving true digitization because today’s tech enables companies to do much more than turn images or scans into modifiable text.
Today, all document-related tasks can be digitized.
Table of Content:
- Why OCR Isn’t Today’s Best Document Digitization Tool
- What is The Best Document Digitization Tool Today?
What Is Document Digitization?
Traditionally, document digitization is the process of converting physical documents into a digital format, so that storage, collection, and processing can take place virtually.
Today document digitization encompasses almost all facets of a document’s processing lifecycle such as the import, categorization, data labelling, data review, and data export stages.
Why Do Companies Digitize Their Documents With OCR?
OCR transforms the text on physical documents into selectable and modifiable pixels that teams can then copy/paste or reuse for other purposes.
Why OCR Isn’t Today’s Best Document Digitization Tool
We’ve had numerous conversations with clients that previously believed their document-related tasks to be fully digitized because they used OCR.
It’s true. OCR does digitize your document-related tasks but only focuses on the most basic part— making the text in those documents ready for teams to copy and paste.
However, the goal companies seek to achieve from digitization is an increase in efficiency, yet with OCR, most of their document processing tasks are still handled by staff manually.
The ROI leaves much to be desired and the increase in efficiency compared to other solutions on the market today is not competitive.
OCR Doesn’t Eliminate Manual Data Entry Tasks
Even with OCR, teams still need to manually import, categorize, extract, review, and validate data from documents before finally exporting it into their databases.
Teams spend about 6 hours per week on these repetitive tasks, which translates to a long-term loss of time and money for companies.
Furthermore, repetitive manual tasks hurt a company’s bottom line and impact workforce job satisfaction and staff retention rates.
What Is The Best Document Digitization Tool Today?
With the help of AI, Intelligent Document Processing (IDP) now enables teams to automate most of their document-related tasks.
Also, human-in-the-loop functionality ensures that all users retain complete oversight and control over the process and final data export.
This solution enables teams to digitize their document-related processes like never before, reducing the necessity for human involvement by 87.4% without sacrificing accuracy.
Why Is IDP a Groundbreaking Document Digitization Solution?
Unlike other document processing solutions, IDP is not template-based and doesn’t require a document to meet specific parameters to function accurately.
IDP uses machine learning to improve its performance based on the user’s choices and feedback, enabling this solution to adapt and process any document regardless of complexity.
This unmatched versatility makes IDP the most scalable document digitization solution on the market.
Schedule your free demo with one of our document solution experts and see how Intelligent Document Processing works on your documents.