convedo Intelligent Process Automation Blog

Robotic process automation (RPA) uses intelligent software “robots” to automate many tedious, manual business processes. By making your human employees available for more valuable, higher-level activities, RPA can deliver a return on investment between 30 and 200 percent in the first year alone.

However, one significant challenge to RPA adoption is the use of unstructured data, which by many estimates makes up 80 to 90 percent of information in an organization. Unstructured data is information that isn’t organized according to a clear, structured model.

Optical character recognition (OCR) is the use of technology to convert machine-printed or handwritten text into digital text. There are a variety of business applications for OCR, including invoices, business cards, receipts, bank checks, and more. The term intelligent character recognition (ICR or iOCR) is sometimes used for advanced OCR technologies specifically used for multiple fonts and styles of handwriting.