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In this article, we are going to see how we can easily integrate an OCR Receipt parser engine in your project and how to choose and access the right engine according to your needs.
Receipt OCR is a tool powered by OCR to extract and digitalize meaningful data from scanned or PDF receipts. Fields commonly captured by OCR receipt include description, quantity, due date, line items, merchant and store information, unit price, bill to, receipt number, total amount, tax amount, etc.
This technology is built on multiple steps, the first step consists of preprocessing the image, usually the scanned receipts are noisy so a preprocessing with noise removal and grayscaling are needed. This step is necessary for the text extraction engines to work well. Next step is text detection with OCR (for Optical Character Recognition). It extracts a text from various file types: pdf, Docx, JPEG, PNG, etc. Their goal is only to get the texts in the document without dealing with the structure of the document.
The final step consists of data extraction and categorization, where it classifies the extracted text into keys and tags like tax and total amount, it's based on deep learning algorithms and NER (named entity recognition). The final result of the parsing is a structured form that can be readable by the computer . It’s often a JSON, XML or even a CSV file; this makes it easy to be stored into a database and automatically analyzed.
OCR traces its roots back to telegraphy. On the eve of the First World War, physicist Emanuel Goldberg invented a machine that could read characters and convert them into telegraph code. In the 1920s, he went a step further and created the first electronic document retrieval system.
Early versions of OCR had to be trained with images of each character and were limited to recognising one font at a time. In the 1970s, inventor Ray Kurzweil commercialised “omni-font OCR”, which could process text printed in almost any font.
OCR Technology became popular in the early 1990s while attempting to digitize historic newspapers. In the early 2000s, OCR became available online as a cloud-based service, accessible via desktop and mobile applications.
Today, there’s a host of OCR service providers offering technology (often accessible via APIs) capable of recognising most characters and fonts to a high level of accuracy.
Mindee helps software product teams build lightning-fast, accurate, and robust document processing automation features in their applications. Their API gives developers access to state-of-the-art deep learning algorithms for document parsing through an easy-to-use and developer-centric platform.
The full extraction process is performed without any humans in the loop, allowing you to offer real-time experience with a maximum level of data privacy. Mindee’s algorithms don’t need to read all the document text in its language to extract the relevant information.
Veryfi uses its innovative AI software to provide Intelligent Document Processing. Veryfi AI is pre-trained to extract and transform unstructured data from receipts, invoices, purchase orders, checks, W2s and other business documents into structured data, in seconds, without a human in the loop. Trusted by enterprises and technology companies alike, Veryfi’s AI-based platform is currently in use at hundreds of organizations worldwide.
Klippa offers data & AI consulting and AI-powered SaaS solutions for automating your administrative tasks and workflows based on documents and images. Klippa offers solutions for scanning, expense management, invoice processing, KYC, loyalty, logistics, and back-office automation. These solutions are available as an end to end solutions, but also as RPA components, APIs and SDKs.
Dataleon provides the best Machine Learning tools for data automation and processing. Ready-to-use API for data recognition and extraction are available to accelerate digital transformation powered by artificial intelligence. To resolve in the best way company’s issues, Dataleon develops innovative automation and adjustable solutions available in the cloud with IA.
Base64.ai is a cloud-based artificial intelligence service that instantly and accurately extracts text, data, handwriting, photos, and signatures from all types of documents, including IDs, driver licenses, passports, visas, receipts, invoices, forms, and hundreds of other document types worldwide. In seconds, Base64.ai discerns the document's type, extracts the relevant information, verifies the results, and integrates them into the customer's systems.
Tabscanner provides a Receipt OCR technology with a cloud receipt OCR API to use in software. Useful for parsing accurate data instantly. Tabscanner is OCR for receipts specifically with the ability to read more receipt fields. Tabscanner claims to be the only technology to return accurate line items from any POS receipt in the world. They are specialized in Receipt OCR.
Taggun provides a receipt OCR API that extracts data from receipts and invoices. TAGGUN's intelligent API uses Machine Learning, and is easy for developers to integrate into existing software. Their technology works as a highly customisable receipt & invoice OCR API to companies who require a fast, accurate and scalable solution.
Rossum solves four key steps in document-based processes at once: receiving documents across multiple channels, automated understanding, two-way communication to resolve exceptions, and acting on the data using in-depth integrations. In typical real-world scenarios, Rossum’s proprietary AI engine outranks narrow data extraction solutions in accuracy. Meanwhile, Rossum’s platform automates the document-based communication process end-to-end. Rossum’s goal for every use case is at minimum a 90% document processing speed increase.
Cloudmersive brings its customers a complete portfolio of APIs across Virus Scanning, Document Conversion and Processing, Deep Learning OCR, Image Recognition and Processing, Natural Language Processing, Barcode Processing and any other key areas.
Cloudmersive OCR receipt technology uses Deep Learning to automatically turn a photo of a receipt into a CSV file containing the structured information from the receipt.
Xtracta provides AI-powered data extraction software and OCR solutions to help your organization with all kinds of document automation. Powered by artificial intelligence, Xtracta technology automatically extracts information and captures data from documents, whether they are scanned, photographed, or digital. The technology can be embedded into virtually any software application via our easy-to-use API.
OCR receipt is mostly used in the automation and optimization process of supply chain management since it’s the backbone of many businesses. Managing tasks, information and production are very important to ensure the control of the cost of production.A digitized supply chain would give a benefit to these companies by ensuring on-time delivery. The key of digitalization is the automation of capturing data and management of a lot of this data which is in the form of receipts and invoices. Having an employee manually enter receipts has a negative impact across the supply chain and leads to unnecessary delays. If this receipt processing is digitized it can lead to substantial gains of time and efficiency.
When you need a OCR Receipt engine, you have 2 options:
The only way you have to select the right provider is to benchmark different providers’ engines with your data and choose the best OR combine different providers’ engines results. You can also compare prices if the price is one of your priorities, as well as you can do for rapidity.
This method is the best in terms of performance and optimization but it presents many inconveniences:
Here is where Eden AI becomes very useful. You just have to subscribe and create an Eden AI account, and you have access to many providers engines for many technologies including OCR for receipt. The platform allows you to benchmark and combine results from different engines thanks to a standardized response format for all the providers.
Eden AI provides the same easy to use API with the same documentation for every technology. You can use the Eden AI API to call receipt parser engines with a provider as a simple parameter.
Here is the code in Python (documentation) that allows to test Eden AI for Receipt parser:
There are numerous receipt parser engines available on the market: it’s impossible to know all of them, to know those who provide good performance. The best way you have to integrate receipt parser technology is the multi-cloud approach that guarantees you to reach the best performance and prices depending on your data and project. This approach seems to be complex but we simplify this for you with Eden AI which centralizes best providers APIs.
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