There’s a reason why iPhones monopolise the smartphone market or why the recipe for Coca-Cola is one of the most closely guarded secrets in the world – product prowess and global popularity.
These are some of the most inimitable products in the world. Both Apple and Coca-Cola have excelled so far beyond their counterparts that they leave the competition trailing in the dust.
Apple is continually evolving, offering a staggering number of apps and services that enrich every aspect of our lives. The taste of Coca-Cola has been refined to the nth degree over 130 years. Venture to any country in the world and you can sample the great taste of Coke.
So, you may be thinking what does Apple and Coca-Cola have to do with receipt capture and Tabscanner? They are all THE BEST at what they do. Sure, Tabscanner still has some way to go to match the brand awareness of Apple or Coca-Cola, but when you’re the best at what you do, recognition follows.
A bold statement, right? Well, if you’re interested in learning why we feel confident in making such a claim, just read on. Once you learn the five reasons why Tabscanner is the best EDE technology, you’ll tip your hat, acknowledging our commitment to bringing the best product imaginable to market.
Peerless Accuracy on Global Receipt Formats
Featuring an evolving level of service and technological refinement, Tabscanner exemplifies two of the primary attributes that have propelled Apple and Coca-Cola to the pinnacle of brand awareness.
It all started in 2016 when we began developing the infrastructure to deliver receipt data extraction that’s not just reliable, but accurate. We first developed our receipt testing platform (RTP). This allowed us to set a product quality benchmark.
Over time we were able to test results against our own improvement and, just as important, compare results of other competing OCR APIs to evaluate how our technology performed against other providers.
Cut to 2020 and our technology can extract 98% of core data. Capable of completing receipt data extraction from POS payments in the Americas, the UK, Middle East, and Asia Pacific regions. In short, a truly global service.
Mall Loyalty Applications
The rise of loyal reward applications presents a retail marketing opportunity. We were approached by an EMEA technology consultancy firm who had developed applications for several malls in the region. These malls wanted to implement a loyalty program and issue rewards to their customers and learn more about customer spending habits.
There’s just one stumbling block with gathering this data: Using manual entry of data and verification is a slow, inaccurate and unscalable. Enter Tabscanner. Our customisation team was able to auto-validate stores, totals, and purchase data. The result? Customers were rewarded in seconds.
Better still, the line item extraction data provided the mall with valuable customer insights. This allowed individual stores to run specific marketing campaigns to reward customers and develop customer personas based on age, interests, favourite products etc. to power new sales and marketing campaigns.
AI and Line Extraction
Many OCR applications complete data extraction using templates. Though this may work for structured documents, such as invoices, purchase orders or native receipts, it is, simply put, unscalable on global scale. Why? Proof of payments are different wherever you are, whatever you buy.
To solve this problem and complete accurate receipt data extraction, AI-driven technology must be employed. So that’s exactly what we did. By 2017, we had developed intelligent models that understood totals and subtotals and 92% data extraction accuracy. But we weren’t satisfied.
Expanding our receipt testing platform (RPT), we developed a guidance system for our AI to learn from. The we tested and refined. Tested and refined. Tested and refined and by 2019 we had a breakthrough, achieving extraction data over 95% accuracy and above!
In 2020, Tabscanner can extract 98% of core data with seamless accuracy. Hold a receipt in your hand and consider what 2% of the content is. That’s potentially the only data that Tabscanner will fail to seamlessly digitise.
Partner of Choice
As any business becomes recognised for its prowess, inevitably partnerships form. We’re proud to have been chosen as an official OCR partner for an automated UK tax rebate platform. Our partner was looking for a way to streamline the extraction of large volumes of paper receipts for claiming VAT rebates for foreign shoppers in the UK.
The solution was simple. Shoppers simply take a photograph of all the receipts acquired whilst shopping in the UK, a claim form is automatically created, and the rebate deposited directly into their bank accounts.
Interested in learning the success of this receipt capture? After engaging Tabscanner, our partner has tripled their user base in just three months! Will this partnership evolve to be as successful as GoPro and Red Bull or Apple and Mastercard? Only time will tell. But, what’s the harm in being ambitious? Especially if you have a product and service that attracts commercial partnerships, right?
The Reputation of Our Clients
Being the best attracts the best. That statement is true in any circumstances. The best sports team attracts the best coach or manager. The best brand attracts the best brand ambassador. The best cello attracts the best cellist and so on.
Reputation is not an opinion; reputation is a decision-maker. So, is it any surprise that Tabscanner was contacted by a large expense management and accounts payable solutions provider with an application that services more than 50,000 small and medium businesses around the world? We don’t think so.
Our receipt data extraction technology has garnered such acclaim that we’re proud to be the provider of choice for a company like this. Taking over from a previous provider who fell short of expectations, Tabscanner revolutionised how expenses were gathered and, once again, demonstrated value.
So, that’s it. Five reasons why Tabscanner is the best EDE technology. If you’re interested in learning more about the specific receipt capture capabilities, why we have captured more than 100,000,000 receipts worldwide, or how we can tailor a service to your requirements, get in touch with us today.
