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In essence, OCR is a powerful tool that supports the pre-accounting process automatization.
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?
Our OCR extracts the supplier name, date, due date, country, Tax amount.
If you are using external VAT codes, Payhawk will select your default category VAT rate.
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