In the modern digital world, businesses can use innovative digital technology to increase productivity and minimise errors in the final output. Previously, the outdated approaches were time-consuming and cumbersome, resulting in client dissatisfaction and loss of the company’s capital.
For this reason, IT specialists have designed ICR services that produce high-quality results instantly and save the company’s capital. This strengthens relationships with the clients as well as guarantees a competitive advantage in the market.
Let’s briefly discuss how ICR recognition technology can help companies streamline their business process.
ICR Services – A Quick Overview
ICR technology is an upgraded version of Optical Character Recognition (OCR). Intelligent document processing services can quickly deal with various handwriting styles & fonts. The support from AI & ML algorithms increases recognition power and the customers’ accuracy rates.
ICR services can easily extract handwritten data from user documents. As it is an updated version of OCR technology, it can cater to the needs of various businesses. With time, the technology improves and upgrades its database with each new data entry.
Artificial Neural Networks (ANNs) make it possible for machines to process massive amounts of data without affecting accuracy. This is where the application of ICR services can help companies strengthen relationships with clients and achieve business milestones timely.
ICR readers can process handwriting styles with the help of ANNs. With each addition of data, this ensures continuous improvement. In this way, ICR services easily upgrade the database. This also enhances the predictive power of handwriting, & fonts.
Intelligent Word Recognition – A Quick Insight
The technology not only identifies but also captures printed & handwritten information along with cursive writing. The cutting-edge technology can process complete phrases and words instantly. This way, the system can capture data from structured & unstructured information easily.
Business clients must remember that IWR is not replacing ICR and OCR technologies. Intelligent Word recognition services are suitable for real-world documentation with a free-form style. The state-of-the-art technology can easily recognise data fields and automate data entry operations which helps identify text in detail.
Complete Procedure Behind the Working of ICR Services
Mobile apps and systems that take input from handwritten papers can work seamlessly with ICR software. This quickly scans information and extracts it from user records.
The following 3 points discuss the operations of ICR services.
- The user must display a government-issued ID card before a camera. This will scan records and instantly extract customers’ data such as Name, Date of Birth (DoB).
- Sometimes, consent verification becomes essential, and the software captures data immediately and helps the customer move forward.
- The system verifies the extracted data and shows high-quality results to the bank.
Automating the data extraction process reduces time consumption and helps companies forgo traditional approaches that drain company resources. This way, companies can also reduce the number of employees. Modern-day corporations can use the data in automated data flow systems and predictive analytics to increase efficiency & optimisation.
Top 5 Applications of ICR Services
The purpose behind the invention of ICR solutions was to provide businesses with automated form processing. With technological innovation, ICR services became suitable for business applications. In modern times, corporations can use ICR solutions for quick form filling. Previously, extracting data from unstructured documents was a hectic task, but modern-day innovation can automate information processing from any type of user record.
The following points discuss the real-world applications of ICR services in modern-day industries:
- The robotics sector can use ICR services and Robotic Process Automation (RPA) to complete tasks.
- Optical Mark Recognition (OMR) applications use ICR services to streamline corporate processes in the modern day.
- ICR solutions can provide data in electronic formats for customers for future use.
- Applying ICR services can easily streamline electronic identity verification solutions, which are highly facilitative for banks and financial service providers.
- Cutting-edge technology allows instant handwritten consent verification.
ICR services can help companies forgo manual data entry procedures to increase productivity levels at industrial levels.
Organisations can improve their efficiency with the help of ICR services by implementing them in their business operations. With AI, ICR solutions can process massive amounts of data in only a few seconds. In this approach, businesses may extract the data from various organised and unstructured records. Some companies can also use a combination of intelligent character recognition and OCR services to achieve milestones quickly. This makes it easier for experts to forgo manual procedures and achieve high-quality results.