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ECIT Digital document processing platform uses AI and machine learning technologies to automate the processing of any document type, from invoices and receipts to contracts and HR documents. Seamlessly integrate ECIT Digital with various third-party syst...Read more about ECIT Digital
Building Logistics by PackageX is a cloud-based package management software that automates package-receiving operations at all kinds of receiving sites. Its modern technology streamlines different logistics workflows, including label data ingestion, notifi...Read more about PackageX
Powered by AI-based technology, Rossum is an intelligent cloud-based data extraction plugin solution that helps businesses capture required information from invoices, receipts, purchase orders, and bills of lading to streamline account payable workflows. F...Read more about Rossum
iLovePDF streamlines document management with a versatile suite of 25+ tools, accessible on mobile, desktop, and via a REST API. Whether merging, splitting, compressing, converting, or eSigning PDFs, it offers an all-in-one solution. Trusted by millions wo...Read more about iLovePDF
Docparser is a cloud-based document data extraction solution that helps businesses of all sizes retrieve data from PDFs, Word docs & image files. By automating the document-based workflow, Docparser can extract data fields such as shipping address, purchas...Read more about Docparser
Nanonets is an AI-driven solution that automates document processing and data extraction workflows. Leveraging advanced Optical Character Recognition (OCR) and deep learning models, Nanonets helps companies automate document-heavy business processes like...Read more about Nanonets
Datamolino is a cloud-based data entry and invoice processing solution. It caters to small businesses and accounting firms. Datamolino uses optical character recognition (OCR) technology to extract data from invoices and receipts automatically. It can capt...Read more about Datamolino
# Veryfi: Transforming Documents into Data in Seconds Veryfi delivers an AI-powered platform that instantly converts documents into structured, actionable data. Through enterprise-grade accuracy and comprehensive automation, organizations can streamline t...Read more about Veryfi
Adobe Acrobat is a comprehensive PDF software. It allows users to create, edit, and review PDFs from anywhere. This software caters to a range of industries such as business, education, and government. It provides a seamless digital document experience. T...Read more about Adobe Acrobat
CamScanner is an optical character recognition (OCR) solution that helps businesses scan, edit, and share PDF files, images, text files, and more on a centralized platform. It enables staff members to merge, split, and compress PDF files and add signatures...Read more about CamScanner
Klippa DocHorizon is a cloud-based Intelligent Document Processing solution. This advanced technology uses Optical Character Recognition (OCR) to extract data, convert, classify, and verify documents to automate workflows, while also detecting fraud, maski...Read more about Klippa DocHorizon
Zenphi is an AI-powered, no-code process automation platform designed to help teams build powerful workflows while fully leveraging their Google Workspace environment. No need for complex or expensive solutions—Zenphi unlocks the full potential of Google ...Read more about zenphi
Parsedoc is an automated document reading and processing solution powered by Exponentia, that reduces the workload caused by managing invoices and other documents. This tool allows reception, analysis and management of files commonly used in the company ...Read more about PARSEDOC
AIDA: Revolutionize Your Document Management with AI-Powered Data Extraction and Automation AIDA is a groundbreaking intelligent document process solution, designed to simplify your document-related tasks and optimize your organization's efficiency. Combi...Read more about AIDA
Covve Scan is designed to help users digitize their business cards at a tap of a button with the most accurate business card scanner. It allows them to save to contacts, straight to your CRM, share with your team, and export to excel. ...Read more about Covve Scan
Hypatos is a document processing solution that helps businesses leverage artificial intelligence (AI) technology and machine learning algorithms to automate data extraction and manage back-office operations. It comes with an application programming interfa...Read more about Hypatos
Parashift Intelligent Document Processing helps organizations to minimize the time spent manually processing all documents across all use cases by continuously learning from all data processed. This is driven by Parashift proprietary Document Swarm Learnin...Read more about Parashift
ABBYY FineReader PDF allows users to convert, edit, and share PDF documents. It is suitable for individuals and businesses. This solution can help teams streamline collaboration on PDF workflows in the workplace. ABBYY FineReader PDF includes OCR that digi...Read more about ABBYY FineReader PDF
MyQ X puts people into print management software by respecting their needs to have print and scanned document workflows be more manageable, time efficient, and cost effective – regardless of whether the organization network is on-premise or in the cloud, w...Read more about MyQ X
Sales Order Automation: Alleviate the order processing queue and errors to deliver more perfect orders on time and in full. Liberate service staff and sales reps to focus on valid and valued activities that contribute to customer experience. Alleviate er...Read more about Conexiom
BankStmtConverter uses artificial intelligence to enable bank statement conversion and financial data management. The solution helps extract transaction details and identify tables with or without visible borders. It distinguishes between relevant transact...Read more about BankStmtConverter
LightPDF, as its name implies, intends to provide light and easy PDF solutions for users and organizations. With LightPDF, you could complete the work on PDF documents in one click. Moreover, in order to provide practical help, LightPDF was developed numer...Read more about LightPDF
ApprovalMax is an award-winning B2B software platform used by businesses around the world to build robust financial controls. It streamlines the approval process by allowing users to create automated workflows to approve bills and invoices. ApprovalMax i...Read more about ApprovalMax
MeasureOne is a pioneering data and analytics company with expertise in data requests, capture, and processing. Its consumer-permissioned data platform gives businesses real-time access to consumer-consented data in exchange for products and services. As ...Read more about MeasureOne
DocAnalyzer.AI excels in automating document analysis processes, distinguishing itself as an efficient tool for professionals inundated with large volumes of text. Through its sophisticated OCR and multi-format support, the tool interprets and interacts wi...Read more about docAnalyzer.ai
This detailed guide will help you find and buy the right ocr software for you and your business.
Last Updated on January 27, 2025Imagine that you want to pull some text or data from a graphic or a printed contract—what are your options? Spend time retyping the entire thing and then correcting mistakes? Or simply use a tool that can convert the document into a digital format in several minutes? If you want a tool, then you've landed in the right place.
Optical character recognition software, or OCR software, helps you convert different types of documents such as scanned paper-based documents, PDF files, or images into editable and searchable text.The file can be saved in a new format such as DOC, RTF, XLS, PDF, HTML, TXT, etc. OCR software also allows you to export data directly to office applications such as Microsoft Word, Excel, or Adobe Acrobat.
The entire process of text extraction and data conversion from the original paper document, image, or PDF takes very little time compared to doing it manually, and the final document looks just like the original.
In this buyer's guide, we’ll explain what OCR software is, its common features, its benefits, considerations to take into account when selecting a tool, and the latest trends that software buyers should not miss.
Here's what we'll cover:
OCR (optical character recognition) software is designed to help businesses convert different types of document formats, such as scanned paper documents, PDF files, or images, into editable and searchable electronic data files.
OCR solutions make it possible to recognize text in these documents and images by scanning them, processing content in the documents, and converting them into editable file formats like plain text, or Word or Excel documents. Documents processed with these platforms typically include client forms, invoices, and staff paperwork.
Various teams can use OCR solutions in their day-to-day operations such as accounting, human resources, and data entry teams to obtain important information from mass quantities of paper and digital files.
PDF conversion in OCR Gateway Software (Source)
Below are some common features of OCR software:
Text extraction | Process various documents and image types and extract text from images (JPG, BMP, TIFF, GIF) into editable files. |
Document conversion | Convert documents and images into editable file formats such as plain text, Word, or Excel. |
Data validation | Validate extracted data after the conversion. |
PDF conversion | Convert text and images from your scanned PDF document into editable file formats. |
Data import/export | Import and export files to/from your existing computer system. |
Multiple language support | Support, recognize, and process files in multiple languages with a single OCR tool. |
Document archiving | Electronically archive converted digital documents that can be easily accessed for future use. |
Mobile document capture | Capture text from documents and images using a mobile device and convert pictures to documents or different formats. |
Before evaluating OCR software, it’s helpful to determine your business size and requirements for the tool:
Small and midsize businesses (SMBs—up to 500 employees): Small and midsize businesses with comparatively smaller teams and fewer clients will have to handle a limited amount of paper-based documents. These could include small retail shops or clinics. Your small or midsize business could opt for a free OCR tool or a basic version that’s reasonably priced and is good enough to process a small number of files.
Large enterprises (over 500 employees): Large enterprises that operate globally and have large teams and client bases will need to process a large number of documents. These businesses could be large banking and insurance businesses. Look for an enterprise OCR solution that provides functionality for multiple formats and language support, handwriting detection, role-based permissions to access the documents, and simultaneous processing of multiple document batches.
Here are the key benefits of OCR software:
High accuracy: Manual data entry and data logging pose many challenges, and inaccuracy is just one of them. OCR software can help you capture, scan, and process the exact text from an original document, reducing the chances of human errors or inaccuracies.
Reduced costs: OCR solutions can help businesses that carry out tasks like data/text extraction cut down costs. This is mostly helpful for departments such as HR and finance that deal with a large number of paper-based documents such as invoices and receipts. With OCR software, all the text from paper-based documents is converted into digital formats which helps reduce printing, shipping, and copying costs. In addition, OCR software enables businesses to store files in digital format, thus reducing the need for physical space to store paper documents.
Enhanced productivity: Manual data entry from non-editable documents, such as paper-based forms, takes a lot of time, energy, and effort. OCR solutions offer features such as text recognition, data extraction, and document conversion to automatically convert non-editable documents into editable file formats such as Word, Excel, or plain text. That means your team members don't need to manually enter the data into the systems, which saves time and leads to better productivity.
Improved data security: Paper-based forms can be easily misplaced, stolen, or destroyed by fire or moisture. With OCR software deployed, your files are scanned, analyzed, and stored in a digital format that cannot be destroyed. Further, all records are stored in a centralized database that can be accessed only by authorized users. OCR software also offers user authentication and data encryption capabilities to prevent mishandling or unauthorized access.
File formats: OCR is all about converting documents and images into different file formats. Make sure you look for an OCR solution that supports the different file formats your organization works with. Whether it’s TIFF, PNG, PDF, JPG, JPEG, or any combination of those, make sure the OCR software you’re planning to purchase supports all of them.
Features and cost: The overall cost of OCR software tools varies based on the features it offers. Make sure to identify your organization’s specific needs and which software features can help meet them. If you need help with processing just a small number of files, go for a free OCR tool or a basic software version that’s reasonably priced. But if you want premium features such as multiple formats and language support, handwriting detection, and simultaneous processing of multiple document batches, you'll have to opt for an enterprise solution that will be more expensive.
Accuracy: OCR software vendors may promise you between 97% to 99% accuracy, but these rates are mostly based on character errors, not word errors. Consider text and scanning specifications before you make your purchase decision. For the text part, ask about the availability of special fonts (typewriter) in the software which includes the capability to recognize handwritten documents with any degree of accuracy. As for the scanning part, getting a quality image is the first step in having the best and most accurate OCR experience, so don’t forget to ask about things such as resolution, brightness, straightness, and discoloration before purchasing the OCR software.
Artificial intelligence (AI) in OCR technology: AI-enabled OCR tools can not only scan text and convert it into different file formats but also make sense and meaning out of it. These OCR systems aren’t restricted to a fixed number of character sets and can accumulate knowledge and learn to recognize any number of characters. Therefore, combining AI and OCR is proving to be an effective strategy for both data capture and management. Many vendors have already implemented AI into their OCR software offerings, and more are expected to follow.
Note: The application selected in this guide is an example to show a feature in context and is not intended as an endorsement or recommendation. It has been taken from sources believed to be reliable at the time of publication.