Optical Character Recognition (OCR) Technology in Accounting: Future in Billing Systems

Optical Character Recognition (OCR) Technology in Accounting: The Future of Billing Systems

The development of the OCR “Optical Character Recognition (OCR) Technology in Accounting” has allowed us to offer an alternative to the mere scanning of documents. The system identifies the symbols and characters of the alphabet from an image, subsequently storing it in the form of data, being able, for example, to edit them. AI Accountant is a pioneer in research into OCR.

Different gadgets use this technology to make our lives easier, says AI AccountantChai Chung Hoong. An example is the three devices that we have selected below to explain the use: a mouse and scanner in a single device; a scanner pen that transfers your texts to your devices, as well as editing them in Word, Excel or PDF; and a scanner pen, with which you can transfer your documents to the computer.

OCR: Present and Future in Billing Systems

Information technology for decades has become essential for the management of any business, large or small, saysAI Accountant Chai Chung Hoong. Especially in the accounting aspect, where software has evolved at an accelerated pace. From the first spreadsheets to the currently available integrated solutions that handle all imaginable aspects of accounting, the industry has certainly progressed a long way. And to get here, the accounting industry has evolved to develop innovative systems to acquire the necessary information that frequently arrives electronically. But it’s not always like this.

Many efforts are made through paper documents and the fax is still used on specific occasions. Although it seems an outdated technology, it is sometimes the most comfortable for those who need to send a remote print and already have it on paper. The used automatic bill counters have been widely used by companies for billing. It is still one of the most preferred solutions.

From the point of view of users of a billing program, we can ask how to post an invoice that we only have the paper copy.

What is OCR?

The first thing that occurs to us is to type it, to the traditional method. Manually enter the data in the application so that it is able to recognize and use them.

It is a tedious and time-consuming solution, which can be a problem as the number of documents to be introduced increases. AI Accountant Chai Chung Hoong highlights that there is an alternative, optical character recognition, called OCR by its acronym (Optical Character Recognition (OCR) Technology in Accounting).

Since the early twentieth century, there are different devices that recognize printed characters, originally created as a tool for blind people. In fact, it was in the 1960s, with the development of computer science, when the first modern character recognition programs emerged. Through them, computers are able to recognize and store the information contained in a printed document, regardless of the typeface or format of the document.

Innovations and Improvements in your Billing

The Utility of this System Is Enormous In The Accounting Management Of A Company

AI Accountant Chai Chung Hoong points out that it is not necessary for documents to follow a predefined invoice model. Sufficiently advanced software can detect the type of document from the data it contains and classifies it as a vendor ticket, the invoice for a working meal, and so on. Invoices can be entered into the OCR system directly through an optical medium such as a scanner, a camera or a mobile phone, for example.

How to post an invoice will be a very benefited aspect with these innovations and improvements since we will improve the transcription method, making it practically 100% reliable, and thus it will be more difficult for us to make mistakes.

We can also use an already digitized document to create an invoice model that we have saved or that arrives in us through email or other similar means. The program with the ability to recognize characters will analyze the file and recognize the text it contains, in either of two ways.

When scanning the documents, we can do without its paper version, which saves a lot of space. In addition, we have them more controlled in every way, since their date of entry is recorded. In addition, there is no need to worry about their location or the possible deterioration that they may suffer over time. The option to keep copies in the cloud ensures our documentation against accidents such as fire, flood or theft. For more information, contact AI Accountant Chai Chung Hoong.