Compello explains industry relevant words and techniques, as typical buzzwords

 

What is OCR?

OCR, Optical Character Recognition, is a method allowing computer systems to read symbols on paper and turn them into digitally saved text.
OCR can convert images into files that can be read and understood by a computer. This means that scanned documents can be compared against a database of characters and words, where the device recognises automatic hits and converts them to editable, searchable content.

 

Opportunities and advantages when using OCR

OCR can be used to convert hard copy documents into digital documents (PDF files). Scanning and interpretation of documents is frequently a time-consuming process. Scanned documents are also just a photographic reproduction that cannot be edited. Thanks to OCR, this is no longer a problem as documents are made searchable and editable.
Access to OCR functionality also reduces physical storage, which saves a lot of space.

 

OCR at Compello

OCR is an interpretation functionality in Compello Invoice Approval as a service (Cloud), known as Compello Invoice Interpreter. OCR is used to “read” the invoice scanned and interprets the information in the invoice.  And documents are converted to legible content.

Compello Invoice Interpreter (OCR Interpreter) include the following functionality:

  • Interprets Norwegian and Swedish invoices
  • Differentiates between input invoices and credit notes
  • Reads currency codes
  • Reads VAT
  • Interprets the first and last pages of invoices
  • Reads data vertically and horizontally
  • Extended number of supplier keys (co. reg. no., account no., URL, tel. no., email address)
Relevant terms to OCR: KID number, Invoice Interpreter, Invoice Approval, Invoice, Accounts software

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