Nowadays, managing expenses in a company is a manual, tedious and monotonous process. What new tools or solutions can I implement in my company to manage them in the best possible way? Have you heard of OCR technology?
What is OCR technology?
Optimal character recognition or better known as OCR is a simple, agile and intuitive process that makes the management of professional expenses and finances optimal thanks to innovation. In this article you will find out what OCR technology is, what functionalities the software has, benefits and advantages of implementing it in a company, along with our own recommendation of the digital solution.
But what is OCR technology? Basically, as we have just mentioned, it is a technological software that allows you to capture an image by simply scanning the content of a document, capturing and transforming a photo into data, characters, lines, words and spaces!
In a matter of seconds, tickets or invoices can be instantly and securely digitised, thus avoiding the loss or deterioration of physical documents, breaking down the document into perfectly differentiated parts and saving time!
Digital solutions or expense note management applications, such as Xpendor, have an OCR that digitises documents in a matter of seconds.
Functionality of OCR software
What is the functionality of OCR technology? Thanks to the functionality and technology we can digitise documents that are in text format – no more manual and tedious tasks! Digital recognition makes your administrative tasks easier and allows you to work with precision.
Some of the most significant functionalities are the reliable recognition of characters and barcodes, compatibility with other formats or programs, along with the recognition of different documents by separating them into pages or rules according to interest.
Normally these documents or data are transcribed from paper to computer for scanning, but this task can be monotonous and tedious. A specific digitisation software allows to obtain the data instantly thanks to the resolution of an image of the document.
It’s as simple as that! The functionalities are several, but the benefits that can be obtained are many more, in the following section you will discover the most outstanding benefits for the management of business expense notes.
Benefits and advantages of this technology with respect to expense management
What are the most important benefits? Especially accounting and finance departments have marked a before and after. These are some of them:
- Analysis of information and data in a more precise and concise way, thanks to its reports.
- Saving time in automatic tasks thanks to the software and digitised expense management.
- Obtain modifiable documents thanks to its treatment.
- Automation and digitisation of processes and tasks of little use.
- Increased productivity and quality of work, thus providing greater value for the company.
- Ease of organisation and elimination of unnecessary physical documents, all thanks to their legal validity.
These benefits are noticeable in a short period of time, so having OCR technology in place on a daily basis allows companies to digitise and transform their business in a surprisingly fast way. Every single physical document is now in the cloud, accessible whenever and wherever it is needed, whenever and wherever.
Xpendor, a solution with OCR technology
Xpendor’s OCR technology is very accurate, you only need an instant to recognise and digitise the data on a ticket or invoice. This digital solution is a revelation for businesses as it saves time and increases worker productivity. Xpendor is the solution for digitising business expense notes.
Photograph, type and send, it’s that easy! The application takes care of the rest, captures the data and posts it after approval by the different roles. No time-consuming human review processes and able to read tickets in different languages. Want to know more about Xpendor? It is approved by the Tax Agency, so the scanned ticket image has the same legal validity as the original paper document.
If you have any doubts about how to manage your travel expenses, call us on +34 919 917 009 or leave us your details here and we will call you back.