OCR - Optical Character Recognition – ContractAwesome

Free Document OCR

OCR stands for Optical Character Recognition. This feature turns handwritten or non-digital documents into electronic/digital format that can be read by a machine and can be fed into word processing softwares or systems like ContractAwesome’s Editor. Once the document is changed into a readable format, users can modify or format it as they please.

Your organization may have tons of contracts that will need to be fed into ContractAwesome for management and risk analysis. Data entry is a distressingly slow and dreary task, and is also subject to human error which can cost you time and money. ContractAwesome makes it easy for you to convert all your contracts into digital format and manage them online.

How it works?

You can scan or take a photo of the document you want to upload on ContractAwesome. Our software analyzes characters and background on the basis of light intensity and then makes use of algorithms trained on large datasets to identify characters and change them into a readable format.

We recommend users to proofread the documents because sometimes due to the complexity of the content of the physical document, errors may occur. The document is automatically saved on ContractAwesome and can be saved in any other format for future use.

Advantages of OCR

Cost Reduction

Data Entry can cost a company thousands of dollars every year. You employing a team exclusively for data entry may not sound too good for your finances. Automation of data entry through the employment of OCR can save your company a lot of time and money. It can cut down your finances at a marginal level and can help you invest that money for something more productive such as more qualified employees or employee training.

Efficiency and Accuracy

When employing man force for data entry jobs, errors and typos are inevitable, irrespective of the experience of the worker. Such errors and mistakes add up to your time and expenses which is not at all good for your business. Employing an OCR system for data entry will cut down these errors and the workflow will become substantially efficient, saving you your time and expenses.

Increased Productivity

OCR will save you a lot of time. You can employ all that time and work-force for critically important tasks that actually contribute to the growth of your business. It will massively help you boost your productivity and give more to your business.

Go Paperless

OCR system makes your business paperless and allows you to store all your data in digital format. This saves you the hassle of managing heaps of paper and also contributes to the environment by the conservation of nature.

OCR for Contract Management

Management of numerous contractual and legal documents which are spread across different drives and different business parties can turn out to be a very difficult and arduous task for a contract management team. Moreover, the documents are likely to become subject to poor visibility and functional risks.

Contracts which are signed externally or apart from ContractAwesome and are present in hard copy can be scanned uploaded to the system for cloud-based contract management. Our well-trained OCR algorithm converts all your handwritten contracts to a digital format making them available for editing and formatting as per the contract requirements.

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