Best OCR For Invoice Processing (Updated List)

Developers can utilize powerful tools and APIs from OCR libraries like Tesseract and IronOCR, combined with machine-learning techniques. These provide advanced algorithms for accurate text recognition, aiding in organizing and extracting valuable information from both new and previously scanned documents. OCR, whether used for digitizing paper records, data extraction from invoices, or improving document accessibility, boosts productivity for businesses and individuals.

AvidXChange

With advanced software like AvidXChange, accounts payable teams can efficiently process complex invoices. Paper invoices can be scanned, converted to digital format, and compared for accuracy. All data is accessible on a single dashboard, integrating seamlessly with existing accounting software.

The software uses OCR to turn invoices into digital text, eliminating the need for traditional filing and reducing paper consumption. It allows categorization and classification of scanned documents based on various criteria.

Furthermore, it accommodates the diverse invoice generation systems of different suppliers, simplifying payment method management. This means it can adapt to vendors who prefer different payment collection methods. Check the AvidXChange official site for more information.

Klippa's OCR Software

With Klippa's program, files can be exchanged around the clock for data extraction. With the mobile app, internet platform, or email attachments to transfer files. The OCR program can convert files in JSON, PDF/A, XLSX, CSV, or XML after processing PDF, JPG, PNG, and other file types.

With speed and accuracy, Klippa's OCR software's intelligent document processing translates receipts, invoices, contracts, and passports into structured data. The invoice scanning process usually takes between one and five seconds, increasing your organization's effectiveness. Check the site's homepage for more info.

Nanonets

Nanonets, an AI-based software, automates the entire invoice process. It integrates with accounting systems like QuickBooks, Freshbooks, or Sage, allowing you to scan and send invoices instantly. Ideal for small businesses and independent contractors, it also provides features for sending estimates, creating contracts, and tracking project time.

Invoices can be uploaded from desktops, drives, or emails, reducing the need to constantly check your inbox. Nanonets automate the process, decreasing manual effort.

Once uploaded, the Nanonets OCR engine extracts invoice data like amount, tax, vendor details, and line items into a preferred format.

• Accounts Payable Automation: With automated Accounting workflows, you can automate every step of the accounting process, including approvals, three-way matching, status updates, and more.
• Manage all of your company expenses with real-time reimbursement and data synchronization in the expense management section.
• Automate vendor onboarding, identity checks, payments, and more with vendor management.

For more info visit the Nanonets website.

IronOCR

Contrary to the default Tesseract library, IronOCR extends Tesseract and offers a native C# OCR library with increased accuracy, performance, and stability. Text from PDFs and photos can be extracted using .NET software and websites. It may output plain text or structured data and supports many foreign languages. It can read barcodes and text-filled pictures. The OCR library from Iron Software may be used in .NET Console, Web, MVC, and Desktop Applications. The licensing procedure for commercial deployments is directly assisted by the development team. The most recent versions of Visual Studio are compatible with IronOCR.

Advantage of IronOCR

• IronOCR can read paper documents, barcodes, and QR codes from a variety of images or PDF files using the most recent Tesseract 5 engine. The integration of OCR into desktop, console, and Web Applications is made simpler by this package.
• Execute OCR with the aid of IronOCR, turning scanned PDFs into searchable PDFs.
• Worldwide, IronOCR supports 127 distinct languages in addition to word lists and bespoke languages.
• More than 20 distinct kinds of barcodes and QR codes can be scanned with IronOCR.
• Both barcode data and plain text output are available from IronOCR. By employing an alternate structured data object paradigm, developers can retrieve all content for direct insertion into a system. This applies to online applications' organized headings, paragraphs, lines, words, and characters.

To know more features, visit the IronOCR website here.

Invoice Processing Using IronOCR

Receipt data may be extracted and accessed with the help of IronOCR, a potent OCR library. Without sacrificing data privacy, you may use IronOCR to snap a picture of a receipt and turn it into machine-readable text that can be readily analyzed and processed.

Here is a demonstration of how receipt OCR functions using IronOCR to extract text from a receipt.

var ocr = new IronTesseract();
ocr.Language = OcrLanguage.EnglishBest;
ocr.Configuration.TesseractVersion = TesseractVersion.Tesseract5;

using (OcrInput ocrInput = new OcrInput("Demo.gif"))
{
    OcrResult ocrResult = ocr.Read(ocrInput);
    var totalPrice = ocrResult.Text.Contains("Total Current Charges") ? ocrResult.Text.Split("Total Current Charges")[1].Split("\n")[0] : "";
    Console.WriteLine("Total Current Charges : " + totalPrice);
}

var ocr = new IronTesseract();
ocr.Language = OcrLanguage.EnglishBest;
ocr.Configuration.TesseractVersion = TesseractVersion.Tesseract5;

using (OcrInput ocrInput = new OcrInput("Demo.gif"))
{
    OcrResult ocrResult = ocr.Read(ocrInput);
    var totalPrice = ocrResult.Text.Contains("Total Current Charges") ? ocrResult.Text.Split("Total Current Charges")[1].Split("\n")[0] : "";
    Console.WriteLine("Total Current Charges : " + totalPrice);
}

Imports Microsoft.VisualBasic

Dim ocr = New IronTesseract()
ocr.Language = OcrLanguage.EnglishBest
ocr.Configuration.TesseractVersion = TesseractVersion.Tesseract5

Using ocrInput As New OcrInput("Demo.gif")
	Dim ocrResult As OcrResult = ocr.Read(ocrInput)
	Dim totalPrice = If(ocrResult.Text.Contains("Total Current Charges"), ocrResult.Text.Split("Total Current Charges")(1).Split(vbLf)(0), "")
	Console.WriteLine("Total Current Charges : " & totalPrice)
End Using

The IronTesseract object is created in the aforementioned code snippet to start the OCR process. To facilitate the addition of one or more image files, an OcrInput object is constructed. An additional image's path is also needed utilizing the OcrInput object's Add method. You can include as many invoice images as you like. the Read method of the IronOCR object is triggered to access the photos by parsing the image documents and extracting the results into the OCR result. It's capable of taking text out of photos and turning it into a string. In the above code, the total price is extracted from the invoice.

The sample invoice

The text total current changes from the previously provided image are displayed in the output below, proving that the total was correctly extracted from the image.

The total price is extracted and displayed in the Console Application

Please visit the tutorial page to learn more about the IronOCR tutorial here.

Conclusion

There are different OCR tools available in the market that help to process data from the invoice. OCR processing invoices allows to read the data from the given invoice image into text. The first three OCR tools aid in processing invoice data and reduce manual data entry work, which automates invoice scanning and data validation. Some OCR tools require an active internet connection and the cost of the tool is also high. It is supported by a few environments.

On the other hand, several .NET projects, including .NET Framework Standard 2, .NET Framework 4.5, and .NET Core 2, 3, and 5, are supported by IronOCR. It also functions with more recent technologies like Azure, Mono, and Xamarin. IronOCR improves Tesseract's output and fixes incorrectly scanned texts or images by using IronOCR technologies. The NuGet Package controls the intricate Tesseract dictionary system. So IronOCR is the best invoice OCR software for invoice automation and extracts data with few lines of code.

IronOCR provides a seamless experience without the need for additional configurations, supporting various image formats, PDF files, and MultiFrame TIFF. It goes beyond optical character recognition by offering barcode recognition capabilities, allowing the extraction of data from photos with barcode values. IronOCR offers a cost-effective development edition with a free trial, and the lifetime license is included when purchasing the IronOCR package. With a single price, the IronOCR package covers multiple systems, providing excellent value for your investment. Please see this licensing page for additional information on IronOCR's price.