Now, we'll use Tesseract, which is a free and open-source OCR engine by Google. Now, before setting up an OCR, let's see the standard fields that we need to extract from a Payslip document.īefore we set up an OCR and look into outputs, we must realise that OCR doesn't know what kind of documents we're giving them to extract, they blindly identify the text and return them irrespective of fields or identifiers mentioned above. Now, coming back to our problem of extracting information from Payslips, an ideal OCR should be able to pull all the essential fields, irrespective of the above-discussed drawbacks. Similarly, the other OCR tools have several limitations based on the fonts, language, alignment, templates etc. For example, Tesseract is very accurate in extracting organised text, but it does not perform well on unstructured data. Out there, there are different - free and open-source tools on GitHub like Tesseract, Ocropus, Kraken, but have certain limitations.
If you're not aware of OCR, think of it as a computer algorithm that can read images of typed or handwritten text into text format.
In this section, we'll be discussing how we can make use of OCR based algorithms to extract information from payslips. How to extract text from Payslips with OCR? Further, we'll discuss the frequent challenges we encounter for building an accurate OCR integrated with Machine learning and deep learning models. In this blog, we'll be reviewing different ways on how one can automate information extraction of payslips ( Payslip OCR or Payslip PDF extract), and save them as structured data using Optical Character Recognition (OCR). What if you could scrape PDF versions of these payslips and reduce this time to a few seconds for faster loan processing to delight your customer? This process is time-consuming, especially during peak seasons, leading to a long time from loan application to funds being released. These can be either in a paper or digital format and sometimes sent via email or post.Ĭurrently, lenders get scanned or digital PDFs of these payslips and manually enter details from it into their systems to issue a loan.
Usually, these payslips contain details such as the earnings of an employee for a particular time including other fields like his/her tax deductions, insurance amounts, social security numbers etc. If you're a working employee or been in the past, no doubt you've come across one. Pay slips or Pay stubs as they are more commonly known are a common form of income verification used by lenders to check your credit-worthiness. How to OCR pay slips? This blog is a comprehensive overview of different methods of extracting structured text using OCR from salary pay slips to automate manual data entry.
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