What is OCR? |
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The following are some common OCR use cases in various industries: BankingThe banking industry uses OCR to process and verify paperwork for loan documents, deposit checks, and other financial transactions. This verification has improved fraud prevention and enhanced transaction security. For example, BlueVine is a financial technology company that provides financing to small and medium-sized businesses. It used Amazon Textract, a cloud-based OCR service, to develop a product for small businesses in the US to quickly access Paycheck Protection Program (PPP) loans as part of the COVID-19 relief stimulus package. Amazon Textract automatically processed and analyzed tens of thousands of PPP forms per day so that BlueVine could help several thousand businesses get funds, saving over 400,000 jobs in the process. HealthcareThe healthcare industry uses OCR to process patient records, including treatments, tests, hospital records, and insurance payments. OCR helps to streamline workflow and reduce manual work at hospitals while keeping records up to date. For example, the nib Group provides health and medical insurance to over 1 million Australians and receives thousands of medical claims per day. Its customers can take photos of their medical invoice and submit them through the nib mobile app. Amazon Textract processes these images automatically so that the company can approve claims much faster. LogisticsLogistics companies use OCR to track package labels, invoices, receipts, and other documents more efficiently. For example, the Foresight Group uses Amazon Textract to automate invoice processing in SAP. Manual entry of these business documents was time-consuming and error-prone because Foresight employees had to enter the data in multiple accounting systems. With Amazon Textract, Foresight software can read characters more accurately across many different layouts, which increases business efficiency. |
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