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Receipt OCR: Digitize Receipts Using OCR API | Mindee

Mar 28, 2024 - mindee.com
The article discusses a Receipt Optical Character Recognition (OCR) technology that can automatically extract key information from receipts in real-time. The technology, which combines computer vision and natural language processing, can be integrated into applications to build receipt scanning features, eliminating manual data entry. The OCR technology is capable of extracting data such as total amount, total net, tip and gratuity, tax breakdown, date and time, purchase category, supplier information, and currency and locale from any photo or scan of a receipt.

The article also provides information on how to choose the right receipt OCR for an application, considering factors like extraction performances, response time, integration time, pricing, and scalability. The receipt OCR API offered is free to use, with a processing capacity of 250 receipts per month. It supports receipts from more than 50 countries and works on all Latin alphabet countries for text ones. The average processing time is 1.3 seconds per page for pdfs and 0.9 seconds for images. The OCR accuracy is above 90%, with precision above 95% for most fields.

Key takeaways:

  • The receipt OCR technology can automatically extract key information from receipts in real-time, with an average processing time of 1.3 seconds per page for pdfs and 0.9 seconds for images.
  • Receipt OCR stands for Receipt Optical Character Recognition, which transforms an unstructured image or pdf of a receipt into structured data.
  • The receipt OCR API is free to use and available to any user having an account on the platform, with a free plan allowing up to 250 receipts processing per month.
  • The receipt OCR's accuracy is above 90%, with precision above 95% for most of the fields, and it works on receipts from more than 50 countries.
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