Top 10 Best Invoice OCR Software For Your Business

Optical character recognition, or OCR, has a variety of applications, ranging from scanning books to automating invoice processing. Modern Invoice OCR Software is fast and accurate, and it can get information from scans with bad formatting, low-quality photos, and even handwritten documents.

This is what allows Invoice OCR Software to do a wide range of tasks other than data extraction, paving the way for intelligent document processing. However, there is a plethora of Invoice OCR Software on the market that can help you convert paper into digital versions; the question is, how do you pick the best Invoice OCR Software for your company?

Here are the best Invoice OCR Software options to consider if you’re thinking about going paperless in your day-to-day business operations.

What is Invoice OCR Software?

It recognizes data components from an invoice, such as vendor, date, line item data, etc., amount, and invoice number, and converts them into machine-readable text data using OCR (Optical Character Recognition) technology. There are many kinds of invoice OCR software, such as invoice OCR converters, software that automatically processes invoices, accounts payable software, and so on.

In 2022, these are the top ten Invoice OCR Software options for your organisation. Characters from scanned photos and paper-based documents are converted into digital text using OCR software for speedier processing and efficient electronic document storage. Modern OCR technologies are based in the cloud and can digitise different kinds of documents in minutes.

Best Invoice OCR Software For Your Business

The following is a list of the top ten Invoice OCR Software for your company:

Docparser

Docparser

Docparser’s Zonal OCR engine helps detect and extract data from image-based documents. Docparser can extract tabular data, create custom parsing rules, apply smart filters, and preprocess images. When reading papers, users may use the platform’s barcode and QR code scanning technologies, and parsed documents can be sent directly to various cloud apps.

Features

  • Extraction of data
  • A combination of data
  • Publication of data
  • Make contact with them (phone or email).
  • Extraction
  • Extraction of prices

Pricing

  • Docparser has a free version as well as a free trial.
  • The pricing structure is based on the features and ranges from $39 (Starter) to $149 (Premium) (Business).
  • You can reach out to them if you have any enterprise-level requirements.

Pros

  • Cloud-based service that is platform-independent.
  • The price per page is reasonable.
  • There are templates for a variety of categories that are ready to use.

Cons

  • It doesn’t have an auto-recharge feature.
  • Complex parsing rules can considerably increase parsing time.

Adobe Acrobat Pro

Invoice OCR Software

Adobe Acrobat Pro DC is a full-featured document processor with advanced OCR capabilities. It converts scanned papers, PDFs, and other pictures into digital documents that are easily searchable and editable by users using Optical Character Recognition (OCR). The software was made with business experts in mind, and it works with both Windows and Mac operating systems.

Features

  • Indexing
  • Support for several languages
  • Extraction of data
  • Editing of text

Pricing

  • While there is a free version of the software, it only allows you to view basic documents.
  • Access to other services, such as OCR, is available for $1.95 per month.

Pros

  • Brand value that is consistent.
  • Integration with the rest of the Adobe suite is a breeze.
  • Apps for mobile devices

Cons

  • Advanced features are available for an additional fee.
  • Package of recurring subscriptions.

Rossum

Rossum

All incoming papers are organized, manipulated, and processed by Rossum. It’s especially helpful when it comes to processing bills. It scans and interprets a range of file types using artificial intelligence, regardless of document layouts and formats. Rossum users can also add detailed integrations, code semantics, and automatic confirmations, requests for changes or corrections, and notifications about document conversions that are customized to their business needs.

Also Read: 10+ Best Multi Currency Accounting Software In 2022

Features

  • Zone-selection instruments
  • Indexing
  • Support for several languages
  • Various output formats
  • Extraction of metadata
  • Editing of text
  • Preprocessing images

Pricing

  • Rossum provides a free trial as well as a free version.
  • You may get in touch with them to learn more about their custom pricing structure.

Pros

  • Customer service is excellent.
  • An easy-to-use UI.

Cons

  • It may be tough to integrate via API.
  • Some features need manual interaction.
  • Invoicing is a good example of a niche application.

Readiris

Invoice OCR Software

Images, paper documents, and PDF files are automatically converted into searchable and editable text by Readiris. Readiris allows you to convert and manage your documents in one location with only a few clicks. It can sign, modify, and combine papers, and its conversion speed is excellent when converting documents between different file formats. With the company’s smart OCR data capture technology, users can also pull text from photos.

Features

  • Processing in batches
  • Indexing
  • Editing of text
  • Support for several languages
  • Various output formats

Pricing

  • Readiris does not have a free trial or version available.
  • The software is offered for $33.56 per feature as a one-time purchase.

Pros

  • high-speed reading and parsing.
  • The user interface is excellent.
  • high precision

Cons

  • Keyboard shortcuts are limited.
  • Plain text files have few choices.
  • There is no option to save to the clipboard.
  • For the limited functionality, it’s a bit pricey.

Amazon Textract

Amazon Textract

Amazon’s fully managed machine learning solution collects useful data from a variety of inputs automatically. Selective Context Attentional Scene Text Recognizer (SCATTER) is a function in Amazon Textract that uses computer vision technology to distinguish text from complicated scanned picture backdrops. It can read data from multiple forms in high resolution and recognize distinct currency symbols, characters, rows and columns in enormous tables.

Features

  • application that is hosted on the cloud.
  • Extraction of forms
  • Extraction of a table
  • Recognition of handwriting
  • Boxes that are bound
  • Management of the work flow

Pricing

  • For the first three months, the firm additionally provides 1,000 free pages.
  • OCR bundles from Textract range from $0.60 to $1.50 per 1000 documents.
  • The cost of this service is determined by the amount of food consumed and the location of the customer.

Pros

  • It’s ideal for automating processes.
  • OCR is used with artificial intelligence in this program.
  • model of billing that is adaptable.

Cons

  • Accuracy has to be improved.
  • For many data formats, it may not operate as intended.

ABBYY Flexicapture

ABBYY Flexicapture

ABBYY Flexicapture is the sixth product in the ABBYY Flexicapture line. ABBYY Flexicapture has comprehensive features for scanning photographs and PDF documents and converting them to text, tables, and other forms. ABBYY Flexicapture enables businesses to reduce manual data input, concentrate on more productive duties, and automate a variety of administrative operations. The Invoice OCR Software makes digital workplaces more productive by letting users scan, digitize, retrieve, change, protect, work together on, and share different kinds of documents.

Features

  • OCR technology driven by AI
  • Processing in batches
  • Editing of text
  • Support for several languages
  • Various output formats
  • Preprocessing images
  • Extraction of metadata

Pricing

  • Inquire about the price.

Pros

  • With a clear user interface and a vast list of functions, it’s simple to use.
  • Tables and their contents can be simply reproduced.
  • Support for a wide range of languages
  • a great level of precision.

Cons

  • Numerous licences are required for multiple users.
  • There is no tool available for combining numerous files into a single document.

Docsumo

Docsumo

A sophisticated AI-driven platform for data capture, extraction, and processing across a wide range of document types. Docsumo digitizes documents and converts them into numerous forms using a combination of clever Invoice OCR Software, AI, and machine learning algorithms. API models are taught to detect and extract data from various document layouts. Once APIs learn how to read their favorite document formats, users will be able to upload a lot of files at once and won’t have to check each one by hand.

Features

  • Perceptive (AI-powered)
  • Image or data capture and transmission using OCR
  • Validation rules for data
  • Data extraction from documents
  • Processing in batches
  • Document categorization that is done automatically
  • Real-time detection of document fraud
  • Various output formats

Pricing

  • Inquire about the price.

Pros

  • It allows for customization as well as automation.
  • Customer service is excellent.
  • Integration with common business systems is seamless.

Cons

  • More information is needed in the API documentation.
  • It is still in the process of development.
  • Is document processing stifling your business’s expansion?
  • Join Docsumo to learn about IDP trends and automation.
  • Docsumo is the largest lender and insurer’s document AI partner.

OmniPage Ultimate

OmniPage Ultimate

OmniPage Ultimate makes it simple to convert documents into editable, searchable, and shareable versions. Help businesses streamline document operations by allowing them to effortlessly digitize files with high accuracy. It may transform important business documents into editable forms and deliver them according to pre-set business procedures. The Invoice OCR Software can also send a lot of files to any public or private business network.

Features

  • Indexing
  • Processing in batches
  • Editing of text
  • Preprocessing images
  • Various output formats
  • Extraction of metadata

Pricing

OmniPage Ultimate, which includes OCR capabilities, costs $499 for a single licence that may be used on up to two Windows OS workstations.

Pros

  • The user interface is simple and easy to use.
  • engine that can be trained.
  • This allows automation to take place.

Cons

  • Due to slow processing rates, it is prone to freezing and lagging.
  • When using low-resolution inputs, accuracy suffers.

Google Docs AI

Google Docs AI

Users may handle a range of documents using Google Docs AI, including PDFs, invoices, payment forms, and other file formats. It employs artificial intelligence algorithms to improve data accuracy while also reducing the number of manual human checks. In just a few clicks, you can save processing costs, assure legal compliance, and draw insights from various documents to improve customer experiences.

On a daily basis, the Invoice OCR Software can analyze billions of documents, and the platform’s computer vision technology allows users to interpret and scan information from scanned photos and unstructured words. Human reviews, data validation, and custom parsing may be added to improve the accuracy of data extraction for AI models.

Features

  • Parses data and integrates it with the Google Graph.
  • Support for several languages
  • Intelligent analysis may be used to enrich data in documents.
  • It converts to PDF and integrates with a variety of cloud services.
  • Text editing, a form parser, and a document splitter are all included.
  • HITL (Human in the Loop) feedback

Pricing

  • The cost of 1000 pages starts at $65 per page.

Pros

  • It’s simple to use, has scalable support, and provides high-quality data insights.
  • It eliminates human mistakes and automates tedious documentation procedures.
  • It provides multilingual support and recognizes over 200 languages using deep learning.
  • Integration with the cloud environment is quick and easy.

Cons

  • Customizing existing APIs can be time-consuming and difficult.
  • Human interaction is required to train the AI model on a regular basis.

Tesseract

Invoice OCR Software

 

HP created Tesseract, which is now maintained by Google. The text accuracy of this Python-based OCR programme is claimed to be high. Tesseract is also an open-source OCR engine that extracts and interprets information from a range of documents using trained LSTM models. Its newer versions offer further capabilities like layout analysis, picture input, multi-column text, equations, and so on.

Features

  • It supports older apps
  • It has a Github repository as its main repository.

Pricing

  • Open-source, command-line OCR data extraction

Pros

  • Tesseract is a completely free, open-source programme.
  • OCR that is free and open-source.
  • Even handwritten information has excellent alphabet recognition.
  • Data is extracted using deep learning methods.

Cons

  • It’s possible that the numbers will become jumbled.
  • It requires a high degree of technical expertise.
  • It doesn’t have a graphical user interface because it’s a command-line OCR.

Last Thoughts

You can extract crucial information from documents that aren’t extremely machine-readable using a high-end OCR program. These Invoice OCR Software make data storage, sharing, and editing a breeze. You can use programs like Microsoft Lens and SimpleOCR for simple use, but specialist solutions like ABBY Flexicapture, Docsumo, or Docparser are more suited for the work if you have specialized and professional requirements.

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