How AI/ML OCR can help in cost saving?

In Optical Character Recognition (OCR) is an Artificial Intelligence (AI)/ Machine Learning (ML) powered tool that processes different formats of documents to extract underlying datasets. An AI/ML OCR focuses on enhancing the overall productivity of an organization. 

Many people possess the misconception that the investment in AI/ML OCR is exceptionally high. However, in a practical scenario, things are the other way round. Most of the AI/ML OCRs are affordable. The successful deployment of such a tool can cut down your costs to a large extent.  

Are you planning to invest in an AI/ML tool? This article will guide you on an AI/ML OCR’s ability to reduce costs and increase ROI. 

1. Automation reduces manual errors   

Manual errors can never be reduced to zero. That’s because manual errors are unintentional. Nevertheless, each manual can cost a fortune for your company. Errors are wasteful in terms of revenue and reputation. AI/ML OCRs are making these risks obsolete. 

An AI/ML OCR cannot make mistakes during data extraction. It can reduce errors to zero. Zero errors mean no time spent on rectification. That is a big relief for any organization since rectification involves high costs. 

2. Frees-up your employees and assigns strategic tasks to them 

Your employees are your main resources. Why assign them menial duties like data entry? Any organization, big or small, has tons of things to do. Use your employees’ intellect to complete those tasks. 

If the employees are engaged with repetitive tasks involving hours of effort, they can lose motivation and make unexpected mistakes. With an AI/ML OCR, data extraction tasks get completed within seconds. In the meantime, employees can focus on more important things. According to Forbes, automation can save up to 240 hours for employees, and they can invest this valuable time to generate more than $9000 for their employers. 

3. Stronger workflow and better outputs 

If the employees are tired of doing tedious tasks regularly, the impact will be visible on the workflow. However, an AI/ML OCR can handle hours of paperwork and remove manual errors from the system. What remains is a strong and motivated workflow, willing to deliver better results. This means reduced operating costs and higher possibilities of making profitability. 

4. Organize sales process 

The key to improving the sales process of an organization is by knowing the customers properly. Using an AI/ML OCR, brands can access large volumes of datasets that offer them detailed insights on customers’ preferences. Hence, brands can plan a more innovative strategy to promote their products and services in the market. 

With the utilization of an AI/ML OCR, the possibilities of lead conversion enhance. Hence, brands can develop their sales pitch and close business deals at much lesser costs. This will let the brands relish a higher percentage of profitability. 

5. Improve customer experience with personalization 

The greatest way to satisfy customers is by creating personalized experiences. An AI/ML OCR can use different verticals to extract large volumes of structured and unstructured datasets. 

These tools can effectively segregate, validate, and process those datasets and push you a step closer to create a personalized customer experience. Hence, in the presence of an AI/ML OCR, cutting down customer support costs is also possible.  

6. Simplify market insights 

AI/ML OCRs can help an organization in growing some significant insights towards the market. They bring in a huge volume of datasets and help marketers look at the market trends and patterns from a different perspective. 

Market trends can no longer intimidate brands as AI/ML OCR helps them get a stronger grip over the market insights. 

Final Words 

Changing yourself with the changing market trends is the need of the hour. Currently, brands are looking for an all-in-one tool like Artificio. Artificio is an AI/ML OCR tool with many other advanced features. This tool can extract unstructured datasets from different document formats and classify and validate those datasets for better use. 

With Artificio, an organization can reduce errors and mistakes to 0. By adopting this AI/ML OCR, you can effectively cut down operational costs by 70% or more. A bonus of deploying Artificio has a productive and enthusiastic workforce. 

An Optical Character Recognition (OCR) is an Artificial Intelligence (AI)/ Machine Learning (ML) powered tool that processes different formats of documents to extract underlying datasets. An AI/ML OCR focuses on enhancing the overall productivity of an organization.