Optical Character Recognition (OCR)
Definition
Technology that converts different types of documents, such as scanned papers or images, into editable and searchable text data.
Overview
Optical Character Recognition (OCR) technology converts images of text into machine-readable text. Traditional OCR works well for printed text in standard fonts, while intelligent OCR (ICR) handles handwriting and complex layouts. Modern OCR often combines with AI for intelligent document processing, extracting not just text but understanding document structure and content meaning. OCR is essential for digitizing paper documents and processing scanned forms.
Why It Matters
Paper-based and scanned documents remain a major bottleneck in enterprise operations. Manual data entry from physical documents costs $4-$15 per document, introduces errors, and creates delays that ripple through entire process chains from claims to invoicing.
How New Odyssey Helps
New Odyssey's intelligent OCR goes beyond text extraction to understand document context, automatically mapping extracted data to the correct fields across your enterprise systems.
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