Specifically talking in the business context, Image to text technology has given several advantages to businesses and companies in their day-to-day operations which ultimately leads to better efficiency and performance. It is a type of document management software and is adopted by a growing number of small and large businesses.
Globally, the OCR market is estimated to reach $ 21,466.30 million by 2027, according to a recent report.
We’ll start with general business usage of Image to text technology and then we’ll focus mainly on web-based Image to text tools and how they improved businesses and companies.
Real Life Example
Let’s start with a simple example that you would have observed because it’s only your generation who is an eyewitness to this evolution.
We’re all using electricity and other utilities which are metered and we pay for them every month as per meter reading. Years ago you would have seen a team of people or a person waking home to home to check meters and note the reading in his notebook or register. The whole task of noting and jotting down used to take almost two minutes.
This noting and jotting down wasn’t the complete task rather it was just a part of the process or just one step. At the end of the day that person used to sit in the office to enter every reading in the database manually, and then bill calculations were done by the computers. As humans are involved, there were often complaints about wrong reading or wrong data entry, and hence over-billing, etc.
How Image to Text Technology Improved the Process?
Now we have Image to text technology or OCR technology which has improved this whole process. Now the meter reader goes home to home, just scan the meter with a mobile device that has an Image to text application. This app takes an image and automatically converts the reading into text and enters it directly into the database and you get an instant message on your phone about your current month’s bill.
Advantages of Image to text Technology for a Business
See, how Photo to text technology reduced the time, effort, and chances of human error in the process. And how it improved efficiency, accuracy, and performance. We’ll take this example as a case to explain advantages of the Picture to text technology for a business or company. And we will focus mainly on web-based Image to text tools while stating the benefits.
1. Error Free Data Entry
From the above example, we already learned and agreed with the fact that Image to text technology has improved the accuracy and efficiency of data entry. You don’t have to type and enter the text manually from the images or other sources. Simply upload your image to an online Image to text converter and copy text from image instantly and paste it into the database.
No typing or manual entry is involved so this process will be free from human errors. And your company will have a database that you can rely on.
2. Easy Access to Data
If you have a bunch of non-digital files in your company office and you have to search for something, then a long search process will start. The process may end soon if you would have some relevant time coordinates or reference information like company name etc. And the process may take hours if you don’t have any reference in mind, like when was a certain deal done and at which price.
Photo to text technology helped in shifting this manual hard-form data management to the digital side. We have a smart online Image to text converter that can read even hand-written text and we can
Copy text from images instantly, without manual typing. The digital format of text and data is easy to manage, archive, and retrieve or access in case of need.
3. Save Precious Time
Time is money and in business, time is more precious than money. A company should embrace every technology that saves time and picture to text technology saves a considerable amount of time as we already read in our example stated earlier in this post.
If you sit to type a document, it may take 15 to 20 minutes easily. But if you scan and convert it with OCR or an online Image to text extractor, you won’t have to type; rather the tool will copy text from the image automatically using OCR. If you will use AI and NLP-powered Image to text converter, it can convert handwritten text with amazingly good accuracy.
4. Cost Saving
When the efficiency of some business or business operation improves, that always means that we are doing the same amount of work at less cost or we are giving more productivity at the same cost. If you pick the earlier part of the statement and think about Image to text technology, it’s improving the operational efficiency of the business and that means we are doing more tasks at less cost.
If you still couldn’t get this point, let’s go back to our example given above. The person will be covering a larger area in a day because he doesn’t need to waste two minutes reading and noting. Moreover, he will be saving the hours that he had to spend in the office while doing data entry tasks. And if the company had a data entry operator, an Image to text converter will be saving that cost.
5. Improved Productivity
When a company’s efficiency improves, its productivity increases. Image to text tools can improve the efficiency of day-to-day tasks, especially if your business involves extensive data entry processes like billing, ticketing, library, data centers, data archiving business, academic documentation, etc.
It speeds up the processes and hence productivity improves with efficiency. Common online OCRs are not good enough, so you will have to search for some Image to text converters which are using AI and NLP because NLP makes sure that the text copied from the image is readable and as per grammar rules. It will auto-correct a word if that word was blurred while scanning the document.
6. Safe for the environment:
There are no environmental impacts associated with OCR. It is, however, capable of reducing office paper waste to a great extent. Using this technology, it is possible to reduce to a bare minimum the amount of paper waste. Paper waste counts for up to 50% of waste in offices.
Furthermore, in the process of producing paper, billions of trees are cut down and tons of water are consumed. It is possible to save the ecosystem by using image-to-text tools rather than consuming these precious resources.
7. Space-saving:
For the storage of important files and documents, a conventional office must create a database. The database is maintained and indexed in large rooms in which different types of files are placed.
For an organization, this occupies a large amount of space. Through the creation of a digital database, OCR technology eliminates the space issue.
Virtual databases do not require as much maintenance as physical storage rooms. Programs can be used to organize all unstructured information within a computer.
8. Improved Customer Experience
OCR processing enhances your customer service significantly. As soon as customer support agents receive an incoming call, they can access information instantly. When a customer calls or sends an e-mail to request assistance, agents can provide a comprehensive response with the use of OCR technology. An easy-to-access digital database enhances the customer experience.
End Words
I can write more about the benefits and advantages of Image to text technology but I would sum up here. I hope these benefits of OCR are enough to convince a company to start using online Image to text converters if their business involves any kind of data entry or digital transformation task.
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