Optical character recognition (OCR) is widely used in data entry process for extracting data easily. With the help of invoice processing applications we can automate accounts payable data entry and extract information easily. Here OCR is must. Specialized invoice processing applications are there which do not require set up because they are purposely designed for the task of invoice processing. Also general invoice processing applications are there which can be configured for many kinds of recognition tasks such as tax forms, hand filled surveys and other types of applications or documents where data entry is needed.
Specialized invoice processing is designed for detecting common elements like name, date, invoice number and also total and extract data automatically. The speciality here is it can recognize both US and European invoice formats. Other types are formcliq invoice and IRIScapture invoices. FormCliq invoice is very easy to configure compared to IRISCapture. But it is not that much flexible. The advantage of FormCliq is it is easy to start invoice processing in minutes and of IRISCapture is that it can be configured to recognize particular invoice formats or other types of documents. Formcliq is mainly aimed for out of box solution.
In general purpose invoice processing ABBYY flexi capture tool is used for locating and extracting data. It has more flexibility but the time required for configuring is more. This flexibility is very helpful in industry specific data like bills, fuel surcharges and also vehicle invoices. For some cases more detailed setup is needed and flexicapture is easier in such cases compared to IRISCapture. The main advantage we can say that Flexicapture can recognize line item data and has the robustness and scalability to be used throughout the organization. Other software used for recognizing key data on invoices is simple index which has the ability to use the existing text while processing MS office and PDF documents.