What is Receipt OCR?
Receipt OCR, or Receipt 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, Eagle Doc 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 Eagle Doc 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 Eagle Doc 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.
Highlights
Extensive Coverage of Fields
Eagle Doc Receipt OCR provides extensive coverage of extracted fields from receipts. It includes all the essential fields you need for your business, so that you do not need to extract them with additional steps like data labeling and training.
- 40+ fields
- Array of product line items
- Array of tax items
- And more...
Cross Check and Inference
Eagle Doc performs smart data validation across multiple fields to ensure accuracy and reconstruct missing details from source receipts.
- Cross check and inference among language, currency, date format, city and country
- Cross check and inference among product prices, total price and tax items
- Cross check and inference among unit price, quantity and product price
- And more...
Extraction of Tax Information of Products
Eagle Doc Receipt OCR extracts tax information for each product line item. This feature is particularly useful for businesses that need to keep track of tax information for each product.
Even when only tax label is available, Eagle Doc Receipt OCR can still extract the tax percentage.
Broad Localization
- Any Currency
- 40+ languages
Industry-Leading Precision: Exceeding 95%
Eagle Doc employs advanced algorithms to assess extraction reliability. When confidence is low, it harnesses cutting-edge Language Models (LLMs) for refinement, resulting in outstanding accuracy. This strategic approach optimizes both performance and resource allocation by selectively engaging LLMs.
- Unparalleled data extraction fidelity
- Optimized operational expenses
- Overall rapid processing time
- No LLM related problems like hallucinations and security risks
- No additional cost
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. For more API details, take a look at our Receipt OCR Documentation.
