OCR Technology: Enabling a Seamless Customer Experience
Meta Description: OCR is not any run-of-the-mill technology, but it is laying the foundation of efficient and reliable data extraction and management systems for businesses.
Optical Character Recognition is one innovation that has far-reaching benefits in the corporate sector. Most businesses are not aware of how OCR technology can work wonders in making their product strategy and customer verification procedures better. OCR dates back to the 1920s when Emanuel Goldberg developed a machine that used optical beams to scan text through paper-based documents and transform them into digitally presentable information. Today, the same old OCR has become much more efficient and reliable which allows businesses to streamline their operations so that customers enjoy a worthwhile experience.
OCR Technology & Data Management Concerns
Today, enterprises need to plan their resources well and develop systems to better manage the sheer amount of user data. Customer identity and the data related to it are of prime importance when it comes to corporate entities and developing a competitive market strategy. But maintaining a proper record of customers is not that easy since it requires companies to invest in a lot of human resources as well as deal with operational overhead.
OCR technology solves the problem of manually going through user identity documents at the time of customer onboarding. OCR solutions automate the process of data extraction and convert that into a digitized form stored over cloud storage that is easily manageable and secure. This directly solves the problem of lost and misplaced files that cost businesses around $220 for each record. OCR is one step ahead of old-school and conventional data management systems that are always on the verge of delay efficiency and data branches.
OCR in the Online Business Landscape
With technology evolving at an unparalleled pace, businesses are going digital. Through the use of sophisticated tools and methods, customer onboarding has become as easy as video calling a friend on Skype. This is possible with the advent of artificial intelligence in user identification systems that bring reliability and efficiency to existing document verification and facial recognition technology. Not only that customers can enjoy a convenient and purposeful experience in real-time over a remote channel all in the comfort of their home.
The inclusion of OCR technology in document verification solutions automates the process which means that no more investing in manual verification experts and tedious procedures that take long waiting hours. Files and documents generated by OCR systems are maintained in a fine hierarchy and format due to which businesses and customers both can access data anywhere in an instance. Banking on this technology trend, businesses can offer products and services that align with the needs of their customers.
Customer Experience – OCR Benefits
Real-time Data Access: With Optical Character Recognition, customers can easily retrieve the datastore on online databases or cloud storage regardless of where they are physically present. All they need to have is a smartphone device or a computer and an internet connection to log in to their profile to access their data.
Maintaining Data: Today, OCR solutions fuelled by artificial intelligence can perceive data that is unstructured, arrange it into a predefined format, extract relevant fields, and create a digital copy for future processing (verification or later record-keeping). Digital-only files with a .pdf or .doc extension could be categorized better and retrieved with a single search operation.
Accurate Character Recognition: Modern AI-based OCR technology can distinguish character fonts and document formats that a normal recognition system cannot. Oftentimes, they come with multilingual support that allows businesses to process documents in many languages and offer services to clients in different countries and territories. The accuracy OCR brings to document screening procedures makes it highly competitive and user-oriented.
It all Comes Down to …
Because of its diversity, Optical Character Recognition OCR Services have applications in various sectors such as healthcare, banking, identity verification, tourism, and legal, etc. Medical records that are a goldmine of patient data need to be protected at any cost. OCR-backed solutions collect medical information and securely back up them on reliable cloud platforms that offer better protection against medical identity theft. Moreover, the records can be instantly retrieved by healthcare providers or hospitals to better diagnose the patient.
When we talk about customer verification, OCR-extracted accurate data from identity documents are used to verify legitimate business partners, so that only trusted clients can open accounts with enterprises. This enables businesses to offer customer-centric solutions with trust and confidence.