ICR Services – Providing Text Extraction Facility to the Tech World
Meta description:
ICR services provide easy text extraction to smoothen out documentation in the financial industry such as banks, insurance, and audit firms.
In the era of trailblazing technology, users seek an advanced security feature for data extraction due to the increase in cyber-attacks and scams due to broadly available cyber tech. A research study by the University of Maryland concluded that the globe faces cyber tech attacks almost every 39s. Furthermore, criminals have paved their way into the cyber global painstakingly due to an imbalance in tech advancements.
Data extraction has been a difficult task, especially without the invention of OCR technology. The process is now mandatory because all work processes are shifting to digital platforms. Digital platforms are making it easier to access information from any part of the world and at any designated time. Therefore, technologies better than OCR are the need of the hour. ICR services are a better version to be adopted to control the significant damages to the entire economy.
What is Intelligent Character Recognition – ICR Services?
What is ICR technology?
ICR technology is the abbreviation of intelligent character recognition and is the sub of OCR technology. ICR services identify and convert handwritten paper text into machine-readable text. ICR services are essential for all businesses because the data extraction from hard copies is complex and can cause human errors. The ICR app uses machines and deep learning. Additionally, it translates paper files into machine-readable text through multiple AI algorithms.
Viewing the enormous benefits of this groundbreaking technology, the majority of the corporate sectors are incorporating ICR services to combat potential scams and fraudulent activities.
ICR Services – Are they Better and more Reliable than OCR Solutions?
Not ignoring the facts, but technologies are advancing with the passage of time. Therefore, keeping in mind the changes, it is essential to determine the perks and drawbacks of the capabilities of ICR and OCR.
While we know that the ICR reader is an advanced categorial technology of OCR services, the two have considerable differences. So let’s dig into some valuable points to understand why ICR is better than OCR or vice versa.
OCR technology
- OCR can recognize printed and handwritten documents
- OCR is not advanced technology to read complex handwritten texts and fonts from documents
- OCR technology cannot interpret or extract in-depth verification documents and detailed attributes
ICR Services
- ICR services can interpret printed and handwritten documents without any errors and confusion
- ICR technology can understand complex fonts such as cursive handwriting, whether handwritten or printed
- ICR app is able to interpret different worldly languages with the use of AI
- It is able to understand comprehensive-textual attributes through artificial intelligence
BUT, the main drawback of ICR technology is that it is advancing and it would take time to develop into a technology better than OCR services.
Four drawbacks of ICR software recognition
Clear handwritten text is easier to recognize for ICR software
Users can avoid writing in cursive style as ICR is still advancing
Aware the consumer to write in block letters for faster recognition
Create awareness that the form is interpreted by ICR software
Pros of ICR Services
Even though ICR services give multiple advanced benefits, the extraction of data through machine learning and deep learning provides enhanced benefits to improve the accuracy and efficiency of the extracted text.
Digital advantages
Compliance with laws and regulations:
Digital documents allow record auditing easier while it maintains the privacy of sensitive information
Editing the Documents:
Digital documents can be edited, unlike paper documents, without asking the entire document to be written again
Boosts user experience:
AI text recognition technology sustains and boosts the user’s experience by converting text on hardcopies into a computer-readable format. In addition, the technology allows easy access of information for the customer services department whenever addressing customer requests.
High-level security: Paper-based informational documents can get lost or tampered with the passage of time. Digital records cut down these prevailing cases efficiently. Nevertheless, corporations must acquire security technologies to diminish any data breaches.
To Sum It Up
The world is advancing towards a prone secure and fast digital media, and businesses must take action now to adopt the technology into their systems. ICR technology has not only proven to combat counterfeits but has additionally minimized phishing attacks. The technology works effectively, efficiently, fast and robust while it enhances text extraction of data.
Furthermore, ICR raiders have advanced in diminishing errors and helping businesses input lumps of data.
Thank you,
Glenda, Charlie and David Cates
