Intelligent Character Recognition is the result of advancement in the OCR screening technology. The nature and purpose of both screening services are almost identical but the ICR software has a bit more to offer. The character recognition app is meant for securing data available in hard-copy format in a classified digital facility. The scanner app identifies a plethora of handwriting styles and fonts making the handwritten data recognition instant.
The need for such application was always there, businesses and financial institutions dealing with different clients and partners from multiple countries can’t possibly function without an automated ICR software. Manual records of clients and other agreements are still created and maintained. Now other than resources, capital, human talent, data is one of the most significant things that gives a competitive edge and safety from potential fraudsters.
ICR software is introduced to ensure optimum protection of that substantial data in form of paper-based documents, agreements, invoices, and all in a restricted data warehouse.
Evolution of Data Processing and Preserving
In earlier times, there have been quite a few hurdles in the globalization of industries other than different legislation of jurisdictions. Before the ICR software, in the early quarter of the 21st century, companies used to appoint staff members for the purpose of data entry and recruit translators for communicating with foreign clients and partners which is still useful. However, the ICR software has reduced the barriers within such a short span of time.
Whether it’s document verification of clients or of business organizations, everything has moved towards digitization. OCR technology is completely dedicated to the job. The screening engine can extract and gather data from document fields but the main restriction is that it is only used for hand-printed data.
The ICR software is inevitable for handwritten data processing as there are way more writing styles than languages. A single solution for recognizing textual information and streamlining data processing by an impeccable difference is universally availed. There are several features a business must take into account.
Benefits of ICR Services
- The automated system frictionlessly transitions handwritten information into a machine-readable format. During the data processing, every time a new kind of writing format or font is screened in the ICR software, the digital solution learns the handwriting style and converts it into a digital state. The level of performance of the character recognition software keeps getting better and better every time it scans a document with a different writing style
- The processing power of a particular business organization or financial institution is directly proportional to its productivity ratio. The swift conversion of data and storage by the ICR software makes the enterprise less careful about security. The substantial information can be accessed conveniently and also converted into different document formats
- Mobility these days is what a business wishes for. The ICR software contributes to the operational structure of an enterprise. Paper-based records are as imperative as digital ones. The handwritten data instead of being there in a stack of files are enclosed in a secure database so the concerned business can destroy the hard copies of the documents
IWR (Intelligent Word Recognition)
Just like ICR software is a subset of state-of-the-art OCR technology. IWR is also used for recognizing and accumulating printed and handwritten forms of data along with cursive writing. The IWR application is a more detailed technology and identifies full words whereas the ICR deals on charters level. IWR is primarily used for the kind of documents that lack a certain structure; they are usually in free form. The records that do not have clearly identifiable data fields can’t be processed through the ICR software.
Significance of Character Recognition Software
The ICR software is an application that can be applied to literally every business. The boom in cases of data hacks surely imposes concern and vulnerability but the scanner application is a must and there is no replacement more viable for a business firm or financial organization.
In online banking or during signing up for a crypto exchange, often clients are requested to submit a consent note written by hand. The ICR software shows its significance in such cases. It is not only responsible for streamlining data collection and entry but also plays an essential role in customer onboarding of financial corporations and platforms. The ICR software scans and verifies handwritten notes so the customer onboarding process can be more accurate and reliable.
The character recognition application is an extending version of the OCR but more detailed services for a business. The conversion of hardcopy of data into a secure digital format gets seamless due to the ICR software. Tonnes of writing styles are identified immediately and it keeps on improving after every scan.