We are super proud of our data extraction feature and you can read all about it here. We believe it simplifies many people's lives in the company. This feature is part of our Enterprise Plan so if you want to switch it on just email or ping us on Intercom!
What is data extraction with OCR?
Optical character recognition or optical character reader (OCR) is the electronic conversion of images of typed or printed text into machine-encoded text, whether from a scanned document or a photo of a document. In Payhawk, this means that relevant information from your invoices is transferred to the Payhawk platform without any manual data entry.
What information is extracted?
We extract the supplier name, date, due date, country, VAT number, amount and VAT amount.
What languages can Payhawk's OCR read?
We work with Google OCR so Payhawk can read invoices in more than 65 languages, including Cyrillic.
Why will I need it?
With Payhawk's OCR you will reduce the error rate in your accounting data as it won't be entered manually and you will increase your team's productivity so they can focus on higher value add tasks.
How is it different from other OCR tools?
Great question! We actually build in-house machine learning algorithms on top of Google's OCR. Based on the learning of tens of thousands of invoices, it will find and extract the relevant invoice information for you. Furthermore, you can teach the system where to look for information on specific invoices.
If you have further questions or you want to set the OCR for your account just ping us on Intercom!