One of the key aspects of OCR-based invoice data extraction is to be able to automatically detect which words and phrases returned by OCR are meaningful. The solution should only return key invoice data in a standardised format. Learn how the Naive Bayes algorithm can help you achieve this goal.

There are many tools in the developer’s toolbox when it comes to automatic data extraction. A good example is TF-IDF algorithm (Term Frequency – Inverse Document Frequency) which helps the system understand the importance of keywords extracted using OCR. Here’s how TF-IDF can be used for invoice and receipt recognition.

Data extraction tools are handy for all accountants to make sure they don’t waste their time on manual data entry. To make it possible, you need a need to understand what OCR is and how it works to read and understand expense-related documents. Read on as we reveal the intricacies of how arbitrue extracts data […]