OCR vs IDP (Intelligent Document Processing): what's the difference?

Mitchell Sloan
Post by Mitchell Sloan
February 1, 2021
OCR vs IDP (Intelligent Document Processing): what's the difference?

IDP is not just a better OCR but something new.

OCR can scan documents and transforms them into a machine-readable form. But it doesn't "really" understand your data like IDP does.

For instance, OCR can tell us that certain pixels are the numbers 1 9 8 0 – but it does not understand that it's a year and part of your Date of Birth.

💡 IDP does, though. As humans, we quickly understand the meaning behind certain words, and that's exactly what IDP does for you. It understands text and documents.

6 Key differences between OCR and Acodis Intelligent Document Processing (IDP)

  1. High speed in processing data
  2. Easy to set up and initiate
  3. Able to fully automate document processing
  4. Contextually understands data
  5. Self-learning system 
  6. Seamlessly integrates with existing systems

OCR vs Acodis Feature Overview

Shaping the future of AI technology, Acodis revolutionizes the outdated methods of data automation with intelligent document processing. Click on the image below to see the different features between OCR and Acodis. 


OCR vs Acodis

Definition: Optical Character Recognition (OCR)

Application software that allows a computer to recognise basic printed or written information (e.g., numbers, letters, and symbols) that are suitable for extraction.

Definition: Acodis Intelligent Document Processing (IDP)

Acodis has developed a machine learning engine that can read – and understand – any document like humans do. Once documents are transformed into machine-readable data, companies can easily search, analyse, and process previously hidden data to find new insights.

OCR (Optical Character Recognition) and Acodis' AI vary in numerous aspects. How does one evaluate these differences?

What's The Best Solution For You?

From time to time, choosing a software type can be difficult - especially when you constantly have technical phrases and strangely long words thrown towards you. 

Solution: here's a flowchart to help you find your way in choosing between standard OCR, and machine-learning-based software (like Acodis).

 

FLOWCHART-OCR VS ACODIS

 

High Speed in Processing Data

High-speed processing results not only saves time and money but can help employees focus on other business objectives. It's quite the revolution to be able to extract and classify data within seconds, rather than hours, which is why high speed is an aspect that companies always crave. Turning to OCR and Acodis, both software is fully capable of supplying this need for speed within document extraction.

Easy to Set up and Initiate

The future of technology favours those which conform to simplicity and the "easy-to-use" phenomenon - especially within the tech industry. It's not rocket science that even the most complex systems seek simplified methods for their customers. In light of OCR and Acodis, OCR is deemed as less 'simple' to set up and initiate, compared to the processes offered by Acodis' AI. 

Able to Fully Automate Document Processing

While a fully automated data processing system is not on every business' wish list, this feature is intrinsically important when it comes to efficiency for you and your business. OCR tends to lack this element, requiring users to continuously provide templates and constant supervision. This is simply inconvenient. Acodis, however, enables users to completely automate data extraction.

Contextually Understands Data

Although OCR is capable of processing basic text, numbers, and symbols, it doesn't have cutting-edge contextualised knowledge like Acodis. Using OCR software simply wouldn't be practical if you require it to contextualise and transform valuable dates on an insurance policy, for example. 

Self-learning System (requires less intervention)

There happens to be a common theme when it comes to implementing data automation - the ability to be economical. While standard OCR lacks this, Acodis AI is able to learn and develop without the need for continuous aid.

Seamlessly Integrates with Existing Systems

Being able to implement the software into your business with little-to-no issues or complexities is something Acodis delivers on, compared to OCR. This feature can be both time and money-saving. Being easily integrated also removes the weight off of you and your team's shoulders if you lack technological proficiency.

Even more interested in Acodis' ML-engine? Come find us here

 

Or request a free data extraction audit on your documents.

 

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Mitchell Sloan
Post by Mitchell Sloan
February 1, 2021
Content Marketer