Optical Character Recognition (OCR) plays a big role in enhancing the efficiency of data entry during accounts payable. It automatically extracts everything you need from invoices, allowing the finance team to faster collect transaction details for payment approval. While many OCR providers are now available, the best one ensures seamless integration, strong data security, and high accuracy across different invoice structures.
In this post, we highlight 5 top OCR to help you find the best fit for accounts payable.
Features to Look Out For
Accounts payable is a process where attention to numerical details is crucial. To ensure the automation will work efficiently, it is essential to look for OCR tools with the following features:
- Customizable data capture
Define exactly which specific data the OCR should extract based on your requirements.
- Adaptable to varying document designs
Process different invoice formats and layouts without accuracy loss.
- Easy export to Excel
This makes it simple to convert captured data into spreadsheets that align with your template.
- Seamless integration to your system
Send the extracted data smoothly into your existing software or workflow.
Top 5 OCR Recommendations
Fintelite
Fintelite offers an AI-powered OCR solution that is highly trained to handle transactional documents such as invoices, purchase orders, sales forms, and more. It is designed to flexibly meet the specific data-extraction needs businesses have, with easy customization that allows capture settings to be adjusted to extract only the required information. With smart AI recognition, it efficiently adapts to invoice variations, applies custom validation rules, and integrates seamlessly with the platforms your operations rely on.
Klippa
Klippa is an intelligent OCR that is popular for use cases involving financial documents. It offers data capture automation with AI-powered accuracy to efficiently process diverse document types. Businesses can take benefit of its advanced extraction to reduce manual work in routine tasks like accounts payable.
ABBYY FineReader
ABBYY FineReader provides advanced OCR with multilingual support. It excels at converting scanned files and complex multi-column documents into editable data formats. Its automation tools make it ideal for enterprises that require high-precision text recognition for large volumes of documents and archival workflows.
Amazon Textract
Amazon Textract is a cloud-based OCR service that uses machine learning to extract text, tables, forms, and handwriting. Fully integrated with AWS, it scales effortlessly for large workloads and enables automated document pipelines. It is well suited for businesses seeking end-to-end data processing solutions.
Xtracta
Xtracta is an automated data-extraction platform designed for business document processing. Powered by machine-learning models, it improves accuracy over time without complex templates. It helps organizations reduce manual data entry, streamline operations, and handle diverse document formats efficiently.
Why Accounts Payable Needs OCR Automation
As a final thought, we want to emphasize why your business needs to implement OCR for automating data capture in accounts payable. OCR is more than just an additional tool, it’s an strategic action to take if you want to reduce manual delays, streamline finance team workflow, and reduce operating costs in the long term.
With Fintelite AI OCR, experience the most seamless data extraction from every newly received invoices you handle. If you’re ready to explore how this can work for your business. Book a Fintelite OCR demo now.
