Receipt Capture and Other Affordable AI Technologies that are Essential for Growth

If you’re a small business and are determined to invest in your future with AI solutions, you might be surprised that you don’t have to spend big to reap significant rewards.

Over the last few years, AI has embedded itself in a wealth of industries and, in many cases, before indispensable to the way they operate. From manufacturing to telecommunications, finance to retail, look around and you’ll find AI powering progressive solutions, allowing businesses to increase their productivity, efficiency, and profit.

Interested in learning exactly what AI technologies, like Tabscanner’s receipt capture API can offer your business? Read on.

The Advantages of AI Technology

So, you’ve gotten the gist of how widespread AI technology is in 2020. But what’s the use in knowing which industries are using artificial intelligence without knowing what the technology can actually do.

Okay, let’s explain this simply, after all not everyone is interested in long-winded, technical information about AI. Most us just want a summary of what the technology can bring to your business.

So here you are:
  • Improved productivity through process automation
  • Help to make more informed decisions through AI-based analytics
  • Bolstering the security of your data
  • Insights to help you refine and improve the customer user experience
  • Better insights to design persona-driven online content

And this is just the tip of the iceberg. As advanced as AI-driven receipt capture OCR technology is (or any AI tech for that matter), there scope for it to enhance our lives is virtually boundless.

What a Business Needs to Implement AI Technology Like Receipt Capture OCR

Businesses large and small have turned to AI to streamline processes and solve problems. However, just because the idea of AI sounds exciting, it doesn’t mean that you should automatically jump on the artificial intelligence bandwagon.

So, in the interest of being transparent, there’s three separate facets that your business should demonstrate before putting down cold hard cash on receipt capture API, or AI integration you may be considering. Luckily, most businesses already have the required infrastructure anyway.

Digital and Data Infrastructure

This goes without saying, but to generate useful commercial insights, AI technologies need huge amounts of data… so if your data collection strategy is as old as the ark or you’re still using Windows Vista in the office, now might be a good time to update your technology.

A problem AI can solve

This may sound simple, but it’s essential. Before integrating AI into your business’s digital infrastructure, you’ll need to have a reason to do so… and no, ‘Ai is cool’ isn’t a good enough reason.

You may want to automate your expense processes. If so, there’s only one real solution to consider: Tabscanner’s receipt capture API. You may want to improve customer experience and improve retention rates. If so, incorporating chatbots is a sound strategy.

The bottom line: make sure you have a reason before integrating AI.

Innovation-Driven Culture

A lot of businesses these days call themselves innovative. But are they really? Some may not be quite as innovative as they would like you to believe.

Your business needs to be open to innovation to use data to make strategic decisions. Think of it this way. You need to consider how your business will measure performance, after all a business exists to make money! By implementing receipt capture technology, for example, you streamline processes, enhance efficiency, and increase profit. All because you demonstrated an innovative approach to managing expenses.

AI Technologies for Business Growth, Including Receipt Capture API

Facebook Messenger Chatbots: ManyChat

If you’re looking to improve client experience through support and free up time for your customer service team to solve more complex issues, you need to deploy chatbots.

AI chatbots have a long track record of success across multiple sectors. From logistics and couriering to retail, customers get answers to questions quickly… whether you have a problem with a parcel delivery or even a program to provide comfort and support to dementia patients, chatbots are the answer.

ManyChat’s free plan helps businesses to collect Facebook profile data, buy buttons and link chatbots to Facebook ads. If you want to optimise your influence and sales on Facebook, ManyChat is essential.

Microsoft Power Automate

Microsoft Power Automate allows businesses to automate repetitive tasks and build multi-step workflows across hundreds of applications without having to have coding.

The platform is, quite simply, a better ways of getting tasks done, especially if your role or business requires hundreds of small tasks to be completed, like for instance, tracking progress, giving you more time to concentrate on strategic, high-value opportunities.

Employed across a wealth of industries, from freight to finance, Microsoft Power Automate will reduce employee errors, free-up valuable time and keep your data safe and secure in the cloud.

Tabscanner’s Receipt Capture API

The world’s most advanced receipt OCR API, Tabscanner has the potential to revolutionise commercial expense management for business around the world. Having successfully extracted data of more than 100,000,000 receipts worldwide, Tabscanner can achieve 98% accuracy on core data, such as receipt totals, dates, and name of retailers.

Basically, in this context, Tabscanner’s receipt capture API gives businesses the opportunity to optimise expense management processes, saving a wealth of time and money. The AI can be seamlessly integrated into software – and there’s even multi-language and global character recognition.

Just imagine a world where you’ll never have to worry about losing a paper receipt or miscalculating expenses every again. This is the world that Tabscanner has created.

So, there you have it. AI technologies that are essential for business growth. If you’d like to learn more about why you can’t afford to pass the opportunity to get Tabscanner’s receipt capture OCR technology, or if you have any questions, get in touch with us today.