OneDrive is Microsoft’s cloud storage solution that allows users to save files and personal data like Windows settings across all their Windows PCs. It also offers a simple way to store, sync, and share various types of files, with others, and across multiple devices.
A major advantage of OneDrive is its seamless integration with Microsoft products like Windows 10 and Office 365. This means files created in Word, Excel, or PowerPoint can be saved directly to OneDrive and accessed from anywhere. It also supports multiple platforms, being available on web browsers, Windows, Mac, iOS, and Android.
OneDrive provides robust sharing and collaboration features, allowing users to share files or folders with others, even if they don’t have a Microsoft account. Shared files can be collaborated on in real-time, similar to Google Drive.
Microsoft has invested heavily in security, making OneDrive a safe place to store your files. It uses encryption for data both at rest and in transit, and it provides recovery options in case of accidental deletion or malicious attacks.
Why OCR and Document Data Extraction is needed in OneDrive
Optical Character Recognition (OCR) and document data extraction are valuable tools for organizations and businesses that use OneDrive. These technologies help improve productivity, ensure compliance, and provide valuable insights from the vast volumes of unstructured data that many organizations produce and store on OneDrive.
Improved Productivity: OCR and document data extraction in OneDrive can significantly enhance productivity. For instance, an organization may receive thousands of invoices, contracts, and other documents daily. Manual data entry can be time-consuming, error-prone, and inefficient. However, with OCR, documents can be scanned, and relevant data extracted quickly. For example, a retail company can use OCR to extract data from invoices sent by suppliers, significantly reducing the time and resources required to process these documents.
Better Searchability: Without OCR, searching through scanned documents or images in OneDrive can be near impossible because the content is essentially seen as a picture by the system, not searchable text. OCR technology allows text recognition in scanned documents and images, making them searchable. This means an HR firm could easily locate specific information within thousands of resumes, contract agreements, or employee records stored on OneDrive without going through each file manually.
Ensuring Compliance: For industries like healthcare, finance, and legal, where certain documents must be retained for a specific period due to regulatory requirements, OCR and document data extraction can be instrumental. By digitizing documents through OCR, an audit trail is created, making it easier to demonstrate compliance with records retention laws. Additionally, extracting specific data such as dates, signatures, or specific clauses from these documents can aid in ensuring legal and regulatory compliance.
Enhanced Accessibility: OCR allows businesses to convert non-accessible documents into an accessible format. By doing so, they make information available to all individuals, including those with disabilities. A university, for instance, can make academic resources more accessible to visually impaired students by using OCR technology on scanned books and resources stored on their OneDrive.
Data Analysis and Insights: Document data extraction can convert unstructured data into structured data that can be analyzed. Businesses can gain insights from this data to inform strategic decisions. For example, a marketing agency can analyze customer feedback forms stored on OneDrive, using OCR and data extraction to identify trends and insights about customer preferences or satisfaction.
Cost Savings: With manual data entry, the chances of errors are high, leading to potential financial losses. OCR and data extraction offer a more accurate solution, reducing such losses. An accounting firm could avoid costly errors in financial statements or tax filings by using OCR technology to input data.
Business Continuity: In the event of a physical disaster, important documents can be lost if they aren’t digitally stored. By using OCR to digitize documents and storing them on OneDrive, businesses ensure continuity since the information can be accessed from anywhere at any time. A law firm could maintain continuous access to critical case files this way, even if their physical offices are inaccessible.
In conclusion, OCR and document data extraction provide essential functionalities that enhance the value of storing and managing documents on OneDrive for businesses and organizations. By embracing these technologies, these entities can improve efficiency, ensure compliance, gain valuable business insights, and much more.
Examples of OCR based Document Workflows in OneDrive
Here are some examples of document workflows you can implement by integrating Nanonets with OneDrive. Sure, here are several examples of Optical Character Recognition (OCR) based document workflows in OneDrive. Each of these workflows starts with the uploading of a document to OneDrive, uses Nanonets for the extraction of valuable data using OCR technology, and concludes by using the extracted data in a further step to complete the automated workflow.
Invoice Processing Workflow:
- An invoice is received from a vendor and is uploaded to OneDrive.
- The OCR system recognizes the document type based on certain features or layouts.
- It then proceeds to extract key data from the invoice such as vendor name, invoice date, invoice number, line item details, and total amount.
- This data is then cross-verified with the company’s purchase order system to ensure accuracy.
- If any discrepancies are found, the invoice is flagged for manual review; otherwise, it’s ready for payment processing.
Human Resources (HR) Document Workflow:
- HR scans or uploads a job applicant’s resume or application form to OneDrive.
- The OCR system reads the document and extracts relevant information such as the applicant’s name, contact information, education, skills, and work history.
- The extracted data is then used to update the applicant tracking system (ATS) or HR management system automatically.
Medical Record Workflow:
- Health practitioners upload a patient’s medical records or test reports to OneDrive.
- OCR technology scans the documents, recognizing and extracting relevant patient information such as name, age, medical history, diagnosis, and prescribed treatment.
- This data is then seamlessly integrated into the patient’s digital health record system, enhancing quick access and improving patient care.
Contract Management Workflow:
- A signed contract is scanned and uploaded to OneDrive.
- The OCR system scans the document, identifying it as a contract and extracting crucial data like contract parties, effective dates, key clauses, and obligations.
- This extracted data is then transferred into the contract management system for tracking and managing key dates, obligations, and other pertinent details.
Insurance Claim Workflow:
- An insurance claim form is scanned or photographed and then uploaded to OneDrive.
- OCR technology processes the claim form, extracting essential information such as policy number, claimant details, claim type, and details of the incident.
- The data is then populated into the insurance management system, triggering the claims review process.
In each of these workflows, the use of OCR not only saves time and improves efficiency but also reduces the risk of data-entry errors. This allows companies to process a large volume of documents more accurately, efficiently, and cost-effectively.
How to set up Nanonets OCR with OneDrive
- Sign up / login into https://app.nanonets.com.
2. Choose a pretrained model based on your document type / create your own document extractor within minutes.
3. Once you have created your model, go to the workflow section of your model.
4. Go to the import tab.
5. Select OneDrive from the “Browse all import options” modal.
6. Authenticate your Microsoft OneDrive Account.
7. Choose the folder you want to import from.
8. Click on Add integration.
The integration will be added to your OneDrive account. Based on the folder you selected, all new and incoming files in that folder will be imported into Nanonets and will be processed by your model which will extract structured data from it. You can also extend the workflow by adding postprocessing, validation / approval rules, exports to software / database of your choice.
Nanonets’ OneDrive Integration for Automated Document Workflows
Nanonets’ OneDrive integration stands as an innovative tool that significantly simplifies and improves the document workflow, rendering the traditional, time-consuming, and error-prone manual processes obsolete. This remarkable system seamlessly combines the sophisticated AI capabilities of Nanonets with the simplicity and convenience of OneDrive.
This integration allows businesses to automate their document workflows, making it a perfect fit for the modern enterprise seeking efficiency, accuracy, and agility. With the integration of Nanonets into OneDrive, businesses can quickly and easily handle document scanning, data extraction, and analysis, streamlining their digital transformation journey.
Once your documents are stored in OneDrive, Nanonets’ AI-powered solution steps in to extract, process, and analyze the data these documents contain. The system effectively handles numerous document formats such as invoices, receipts, purchase orders, and even handwritten notes. The flexible and adaptive model learns and improves over time, becoming increasingly proficient at extracting data even from complex or low-quality documents.
The AI model doesn’t just simplify data extraction. It’s also designed to understand the context and classify the information accordingly. Whether it’s categorizing expenses based on the data in your receipts or updating inventory details from scanned purchase orders, Nanonets’ solution streamlines data handling, allowing more time for strategic business activities. By using this integration, you are able to avoid the tedious manual data entry process, reducing human error and improving overall operational efficiency.
Furthermore, the integration of Nanonets and OneDrive comes with another significant advantage – accessibility. Thanks to OneDrive’s robust cloud storage capabilities, you can access your processed and organized data anytime, anywhere. This, coupled with the integration’s ability to automate document workflows, ensures that your data is not just secure but also easily available when needed.
However, the real beauty of the Nanonets’ OneDrive integration lies not just in its automation capabilities but also in its scalability. No matter how much your document workload grows, the system can scale accordingly, ensuring the same level of efficiency and accuracy.
Lastly, but equally important, the Nanonets’ OneDrive integration aligns with data privacy standards, ensuring the security of your data. The system strictly adheres to data privacy regulations such as GDPR, maintaining the confidentiality of the data while it is being processed.
In conclusion, the Nanonets’ OneDrive integration for automated document workflows is a game-changer for businesses. It offers a robust solution to automate, accelerate, and enhance document workflows, paving the way towards a truly digital workspace. The simplicity and efficiency that this integration provides are invaluable in the fast-paced modern business environment. Whether your enterprise is in the early stages of its digital transformation journey or is already a digital pioneer, the Nanonets’ OneDrive integration can significantly streamline your document workflow, helping you save time, reduce costs, and focus on what really matters – growing your business.