What is Smart OCR (and why you need It for contract management)?
Turn your scanned documents in to readable, searchable text.
What is OCR?
OCR, which stands for optical character recognition, is technology that can read text in images. Using OCR software you can convert scanned PDFs, faxes, or photographs of documents into regular, searchable text files. What once was a snapshot of a contract taken on a blurry smartphone camera can become a conventional Microsoft Word document, ready for fresh redlines.
Where traditional OCR falls short
Some major document management solutions have built-in OCR capabilities which are fine for consumer or even everyday business usage, but they often fall short for legal teams. These solutions can struggle dealing with complex or low-quality images, translating an M into two Ns, turning a W into two Vs, or an I into an L. This causes words like liability, limitation, or indemnification to become unsearchable. The inaccuracy of traditional OCR can create a massive amount of work for your team.
How is LinkSquares Smart OCR™ different?
Using cutting-edge artificial intelligence trained on thousands of legal documents, the built-in LinkSquares Smart OCR engine automatically converts images into high-quality text that software and humans alike can read, edit, analyze and organize. Layered on top of that, we have a legal team that QAs your documents and makes corrections if needed bringing accuracy to 99%. The result of this Smart OCR™ process is the ability to do full-text search on any contract with confidence.
Why it's useful
With LinkSquares’ Smart OCR™ process, you can easily and accurately do a full-text search of any document as well as create customized reports. Traditional OCR is error-prone, which can create additional work and leave your company open to risks. With LinkSquares Smart OCR™, you’ll have the confidence that comes with always knowing what’s in your contracts.