Every stage of business is paper driven which is now a risk due Covid-19. Receipts from hotels, taxis, restaurants create havoc. None of us are aware about its journey. These paper receipts could be contagious with the virus.
It is time to get paper off your desk – time to clear the drawers with all the paper receipts.
What is Optical Character Recognition (OCR)?
OCR is at times also referred to as text recognition – refers to software that can convert the written / printed text into digital format. It deciphers the handwritten text from a paper document into codes that are used for data processing.
Optical character recognition (OCR) technology has the potential to transform how businesses work. With OCR processing, businesses can achieve operational objectives and ensure they can render excellent services to their customers. Better accuracy and data utility add value to information, ensuring businesses make informed decisions.
How many times as an employee, have you wished for an editable file instead of just a piece of paper with which you cannot do much. You can scan a PDF file onto the computer but here again cannot edit the document. Here is when OCR software comes in handy. It helps not only digitising documents but also improves data accessibility and enhancing file security.
OCR technology turns any device into a portable scanner that converts paper documents into a searchable and editable data.
Advantages of OCR technology:
Businesses globally have adopted the game changing technology of OCR. OCR technology has a few significant uses for small and mid-size businesses beyond generating digital versions of handwritten or printed text.
1. Get precise data
2. Saves time
3. Reduces cost
4. Reduces errors
5. Faster retrieval of data
6. Increases storage space
7. Always secure
8. Audit Ready
Supercharge your expense management with OCR:
Another use of OCR applies to most small and mid-size businesses globally – real time expense management. Managing company spend benefits the most from automatic data entry.
At ExpenseOnDemand, we use the power of OCR to process and track expenses a breeze. Download the expense management app which turns the smartphone into a cutting edge receipt scanner. Click a picture of the receipt and our intelligent technology will read the receipt, record data, value, and payee for any business expense. Within seconds the expense claim is made and then sent off to the approver for approval anytime anywhere.
Why you will love using ExpenseOnDemand’s receipt scanner:
ExpenseOnDemand is using the latest in digital receipt technology to deliver a simple, fast, and smarter way to track and capture employee expenses. Claimants can now create and submit their expense claims within seconds.
By simplifying the expense claim process, expense reports can be created as and when the expense is incurred – from a coffee shop or a hotel foyer.
Our expense management app uses Software as a Service (SaaS). Can create expense reports at any hour of the day and night, anywhere in the world so long as you have WiFi signal.
There is seamless integration with accounting software (Tally, Sage50, QuickBooks and Xero) and with the credit cards. There is absolute safety – no risk of the Corona virus.
Digital versions of receipts are fully compliant when it comes to expense reporting.
Go ‘’Paperless’’ and ‘’Contactless’’ with accurate, verified data.
ExpenseOnDemand ticks all the boxes regarding ease of use and implementation. Check it out at ExpenseOnDemand
Contact us today to start reaping the benefits!!
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