OCRex launches DocuRec at Accountex 2014
OCRex is back for a third year running at Accountex launching a brand new product, DocuRec.
DocuRec is an automated data extraction solution that can capture all required data from those annoying business documents like invoices, receipts, credit notes, purchase orders, packing slips and more. With much anticipation from the accounting industry the OCRex team will be conducting live demonstrations of DocuRec over the two days at the Accountex conference.
With an expected 5,000 delegates attending the exhibition this year, Accountex offers OCRex the perfect platform to launch DocuRec. Accountex is the UK's only national exhibition for accountants and finance directors working in practice, business and the public sector. Accountex offers an unparalleled opportunity for OCRex to demonstrate to accountants how both our products, AutoRec and DocuRec, can extract specific data from a variety of digital and image documents including bank statements, invoices, receipts, purchase orders, packing slips, etc.
DocuRec V’s other data extraction solutions?
Unlike other solutions that claim to automate data entry, DocuRec utilises Optical Character Recognition (OCR) technology and artificial intelligence. These technologies allow for the key data to be automatically extracted including the name of the supplier, date, invoice number, currency, tax, total value, PO number and more!
The software also has a self-learning feature so when you process a document, it will remember the information you require from each document type. DocuRec is customisable to capture any relevant data that you want to have extracted. It integrates directly with leading bookkeeping and accounts software packages.
CEO of OCRex, Brendan Woods explains how DocuRec, a cloud based solution was a reaction to our clients ever changing needs for data automation compared to manual data entry processes:
"Since the release of our first product, AutoRec, which automates extraction of data from bank and credit card statements, many of our accountancy practice customers immediately started asking us if we had a similar solution that could extract data for invoices, receipts and other business documents. So we are delighted to be releasing an automated data extraction solution. Building on the success of AutoRec, DocuRec was a natural evolution for OCRex."
OCRex has already established an excellent reputation as one of the leading data extraction software companies in the accounting space with their first extraction solution, AutoRec.
AutoRec is a bank reconciliation solution for accounting practices that deal with incomplete records clients. OCRex developed AutoRec to automate the process of data entry from bank statements. It extracts detailed transactional data from bank, credit card and online statements so you never have to type those up manually.
AutoRec was only launched in June 2012 with nearly 1,000 accounting practices subscribing to the software already.
Stuart Williamson from J.S. Williamson & Co explains:
"For our practice there is no going back to the manual data entry system. What was once a laborious and complicated task is now so simple and effective. The speed and simplicity of AutoRec allows us to produce complete payment and receipt analysis reports within minutes."
Chris Cottee from Tax Assist describes the benefits:
"It’s simple to use and good value for money. It just does the job! This software solution removed data entry dependencies while providing significant efficiencies in terms of time, costs and accuracy."
Visit our stand A412 at Accountex to see a demonstration of DocuRec and AutoRec. Look forward to meeting you there.
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