What is Receipt OCR?
Receipt OCR, or Optical Character Recognition, is a technology designed to streamline and automate the extraction of information from receipts. It transforms the tedious process of manually inputting data into a swift and accurate digital experience.
Using advanced algorithms, Receipt OCR scans and interprets key details such as merchant information, line items, totals, and more from receipts. This technology not only eliminates the need for manual data entry but also enhances efficiency in financial workflows. Businesses can leverage Receipt OCR to improve accuracy, reduce errors, and expedite the processing of financial transactions, ultimately leading to increased productivity.
Below is an overview of which information Receipt OCR extracts.
Obtain the shop's name and precise address from which the receipt was issued.
Retrieve the time and date when the receipt was generated.
Acquire a detailed inventory of purchased products, including names, prices, and tax information.
Gather detailed tax information pertaining to distinct tax categories.
Read out the total price indicated on the receipt.
Capture the method of payment utilized for the transaction.
How does Receipt OCR work?
Connect your app to Eagle Doc easily with our REST API. Just send your receipt images or PDFs to the Eagle Doc Receipt OCR endpoint. Our algorithm reads the text using OCR and pulls out all the important info from the receipt—total amount, shop name, product details, and more. The system gives you the results in a structured way in JSON format, ready to use in your app. Check out the simple data flow below.
For more details, take a look at our Receipt OCR Documentation.
