Wouldn’t it be nice if there was a set formula everyone could follow to achieve financial prosperity? Sadly, life isn’t quite that simple. Putting more money in your pocket each month demands conscientiousness, tenacity and efficient money management – and no small amount of luck.

A life without financial worries is a life of freedom. The world is your oyster. Yet, for most us complete financial flexibility is at best fleeting, and at worst only a pipe dream. But, what if there was a way that you could make gradual, consistent improvements to your finances through sound financial management? Well, there is. Document scanning API OCR for checks and receipts can help you achieve greater control of your finances, putting more money in your pocket every month.

Saving Receipts

Receipt saving doesn’t have to equal household clutter with drawers overflowing, pockets bulging, and every square inch of available surface covered. There is an easier way – using a mobile receipt scanning app like Tabscanner.

A quick flash of your camera and simple in-app data extraction and hey presto! all your transactional data is stored through a simple OCR check. With the world’s most advanced receipt scanning API, you can rest assured that your receipt data is meticulously extracted character by character and even save receipts to the Cloud.

Tracking your spending has never been easier, or more efficient. Not only that, you can earn cashback on everyday purchases by submitting your receipts to smartphone cashback apps such as Ibotta, Checkout 51 and SavingStar.

Reward Schemes

Show us a retailer that doesn’t run regular customer reward schemes and we’ll show you a business that isn’t interested in maximising customer revenue. Almost every leading retailer gives customers the opportunity to sign-up and take advantage of discount savings.

Smaller retailers also have loyalty programs which incentivise customers to put their hands in their pockets, even when a purchase is hardly paramount, or essential. A fair proportion of retailers also save copies of your receipts for their records. Businesses such as ExxonMobil, American Express and Starbucks all run customer loyalty reward schemes.

So, how can mobile document scanning API OCR bills be helpful in this instance? Well, let’s say that you feel that you’ve accumulated enough points and feel that you’re entitled to a reward. Yet, the retailer doesn’t believe this is so. All you both need to do is refer to your digital receipts to get a clear indication of how much you’ve spent on what.

Most of us have apps on our phones to help us save money on our purchases through loyalty schemes, but few of us have apps to individually track expenditure. Just think, despite how frugal you are, you could be entitled to more rewards and you don’t even know it! A quick OCR check using a receipt scanning app, like Tabscanner and you’ll quickly learn how if you’re missing out on any rewards that you may be entitled to.

Optical Character Recognition or Optimal Character Recognition

We all make mistakes. Technology can help us minimise mistakes by completing tasks with 100% accuracy every single time. When was the last time that you didn’t use a calculator to add your expenses? Unless you’re a maths whizz, most of us rely on technology for convenience and accuracy. Manually calculating our expenditure with a pen or pencil can lead to costly mistakes being made.

Receipt scanning apps like Tabscanner, allow users to complete a comprehensive OCR check of their receipts, ensuring that no transaction data is lost. Examining each character individually, before extracting the necessary information, it has never been easier for you to highlight areas where savings could be made – putting more money in your back pocket.

Not only can the intuitive AI analyse your expenditure line by line, but the technology is evolving all the time. As the months and years pass, it seems only logical that document scanning API OCR bills will be the only way to accurately record, check and manage everyone’s finances – consistently saving you money.