So you are telling us that you would like to re-enter text manually every time you need an editable version of a scanned document, image, or pdf file?
That the time you will be investing in doing the same does not hold any value? And that your employees would rather keep recreating different versions of different documents every day instead of doing the job that requires their expertise?
Well, 2 or 3 pages a day might not really make a difference, but imagine having to do the same with 2 or 3 files a day or more.
It’s dreadful to see how companies would instead hire more personnel and pay them twice instead of relying on a technology that is half as pricey and honestly more efficient than human hands.
OCR, or Optical Character Recognition, is a technology that lets you create editable and searchable versions of documents without typing the locked text manually. The whole process is carried on with the help of Text Extraction and Text Recognition and is by far considered the most efficient way of doing the same.
For instance, for an eCommerce business that processes large volumes of data every day, it might not be possible to keep an editable version of every document – it takes up a lot of space, and the duplicacy of documents creates confusion. In such cases, the easier thing would be to create an editable document whenever the need arises, which is where OCR will come into the picture.
We’ll take a look at the following:
- What is Text Extraction?
- How does it work?
- What are the benefits of Text Extraction in a DMS?
What is Text Extraction?
If you’ve read other articles online, you must be tiptoeing around terms like “Machine Learning,” “OCR,” and “Text Extraction.”
Honestly, it’s not as difficult as it sounds; you need a clear understanding of the same.
And here’s how you can do so:
Optical Character Recognition is a Machine Learning technology that helps automate the process of Text Extraction, whether handwritten or typed, from scanned documents, images, or pdf files and assists in creating editable and searchable versions of those documents.
Hopefully, you can join the dots and understand how the three work together.
Note that OCR often leverages AI so it can work more efficiently and deal with more complex documents.
OCR is used widely by many organizations for very different purposes. However, you might need the same in your DMS for the following three reasons:
- To create a workable, digital version of your paper documents
- To save time you spend doing so manually
- To make indexing of such documents easier
But the question is, How does it make that happen after all?
How does Text Extraction Work?
It is a two-step process that involves scanning the text and processing the same with the help of different algorithms.
The first step involves the thorough scanning of the document. During this step, the text is recognized, and various factors are taken into account, like the text size, font, area of text, and even the spacing of the text.
After Text Recognition is done accurately, the next step is to process the information that is thus collected by the algorithm. Subject to the algorithm at hand, the process of the same varies. For instance, if Pattern Recognition does the processing, then all the algorithm will have to do is compare its understanding of characters with what was identified by it during the first step.
Similarly, various other algorithms are used to process and complete the second stage of Text Extraction from documents. While some use fed information to produce the outcome, some will be very strategic and analytic in their approach.
What are the Benefits of Text Extraction in a Document Management System (DMS)?
Document Management is one place where OCR can turn out to be extremely helpful and advantageous. Especially for companies who have to deal with tons of stacked paper every day.
The cherry on top of the cake is when both OCR and ICR power a DMS. So it will not only help you convert the printed text into editable versions, but you can also use it for handwritten text.
Here are the three primary benefits of using an OCR/ICR-powered DMS
We told you at the very beginning of this article that typing the text manually every time you need an editable document version is going to waste a lot of your time that you would have spent otherwise doing something productive like pitching to clients or strategizing.
By digitizing the entire process, you will be moving toward a more efficient system of Document Management. One that would turn out to be extremely simple yet fruitful.
Another essential but highly overlooked factor here is how OCR can make retrieval easier. See, OCR helps in Text Extraction, which means the software can now read the text of stored documents, and it’s not just an image to the software anymore. Therefore, it allows you to search for the information you are looking for with the help of the document’s contents instead of just restricting it to the title.
This is also known mainly as Content-Based Search. This becomes a necessity for businesses that deal with hundreds of documents regularly because memorizing the titles of each document then becomes a task.
Smart Document Management Systems like dox2U allows you to leverage Content-Based Search and offer additional features like Smart Cabinet so you can further filter out the result from the large pool of documents.
Put two and two together and tell us what you conclude. Honestly, what will happen when you save the time you spent creating different editable document versions and retrieving the same afterward? Your employees will have the opportunity to use that time doing something that brings in profit and serves the organization’s best interest.
Thus, productivity is expected to improve.
That was all about Text Extraction and how it can be beneficial for businesses in today’s time. We think companies must level up from time to time as technology can always tremendously impact overall organizational productivity.
If you are convinced of the above, we suggest that you consider dox2U – a Document Management System that offers several features, including Text Extraction. And the best thing is, they have a lifetime free plan – check if you are eligible.
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