According to Billentis, up to 85% of all invoices in the UK were issued on paper in 2016. With billions of paper documents entered into accounting records, making data entry more efficient is critical for all businesses. Here’s how OCR and machine learning can help you ditch manual data entry for good.
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.
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 […]