As you may be aware, Optical Character Recognition (OCR) is a mechanical process of capturing data from images or documents. This technology is actually not new, it has been around for many years and continues to advance. Today, OCR plays a big role in business automation. One of the business areas where it is widely applied is finance, especially for sales order processing. With OCR, finance teams can automate data extraction of every order received from customers and process them faster than relying on manual effort.
In this article, we will explore:
- Challenges of manual sales order processing
- The role of OCR in streamlining sales order processing
- The benefits of using OCR for sales order processing
- How Fintelite delivers the best-fit OCR solution
Common Challenges of Manual Sales Order Processing
Businesses that still heavily depend on manual processes to handle sales order documents commonly face several inefficiency problems, such as:
Too many repetitive tasks
For finance teams, manual sales order processing means an endless loop of retyping, formatting, validating, which can be tedious as the documents pile up. These repeated steps are very time-consuming and can eventually lead them to burn out.
Hindered productivity
Manual sales order processing requires a lot of time and effort, slows down progress, and keeps finance teams from completing more tasks. It can hurt the team’s productivity, while there are still many other tasks that should be more focused on.
Error-prone process
The risk of human error when manually inputting sales order data into the system is also very high, especially when handling large volumes of documents. Even small mistakes, such as typos or misplaced numbers, can lead to delays and financial discrepancies.
How OCR Improves Efficiency in Sales Order Processing
OCR technology enables automated data extraction that can streamline sales order processing. By implementing OCR as part of the workflow, sales order documents can be processed much faster and more efficiently. OCR scans and captures important information from documents, converting it into approval-ready datasets, all automatically. With the seamless integration, the extracted data can also be directly transferred into the system. For example, when teams receive sales order documents in PDF format, they can upload them into the OCR tool, which automatically extracts the data and inputs it into their existing spreadsheet system.
Various Benefits of OCR for Sales Order Processing
The impact and advantages of OCR is already clear to see in enhancing the efficiency of sales order processing. Here are several benefits OCR can bring.
Faster turnaround
With OCR automating repetitive tasks, finance teams are freed from the time-consuming workflow that once slowed order processing. This can speed up order handling, ensuring faster turnaround from receipt to fulfillment.
Paperless process
OCR allows businesses to manage sales orders digitally instead of dealing with large amounts of paper. All order information is documented and processed through a digital system, shifting order processing into a fully paperless workflow.
More accurate record-keeping
Minimize manual errors with OCR technology that automates data extraction with exceptional accuracy. From data extraction to data integration to your system, OCR ensures high accuracy in every step of the process.
Streamlined workflow
With its speed and accuracy, OCR’s implementation boosts the overall efficiency of sales order processing. OCR reduces unnecessary steps that slow down the process, such as manual data entry, making workflow more streamlined for your team.
Why Fintelite Is the Best-Fit OCR Solution for Your Business
Fintelite presents an intelligent OCR solution designed for maximum efficiency and scalability as your business grows. Our OCR is advanced by AI to efficiently read data from any type of documents required during sales order processing, ensuring a high accuracy level across documents. From purchase orders to proof of payment, automatically extract and record every important detail with ease. For your data safety, Fintelite ensures encrypted processing and full compliance with ISO27001 security standards.Book a free demo to see how Fintelite can automate your sales order documents. Need document automation tailored to your existing workflow? Contact our team today.
