Technology
Welcome our episode of exciting podcast series, "Demystifying OCR Technology in Finance." I'm thrilled to embark on this journey through the fascinating world of Optical Character Recognition (OCR) and its profound impact on the finance industry.
In this series, we're diving into the basics. What is OCR, and why is it such a game-changer in finance? We'll discover how it's revolutionizing processes like invoice handling, bank statement digitization, and so much more.
Optical Character Recognition is a technology that can "read" printed or handwritten text from images or scanned documents and convert it into machine-readable text. Think about the countless financial documents that inundate banks, businesses, and individuals daily. Invoices, bank statements, tax forms – these documents are the lifeblood of financial transactions. But they're often in paper or image format, making them challenging to process quickly and accurately.