Automation is essential for jewellery and precious metals businesses to handle everyday tasks. For jewellery showroom and jewellery shop owners, data extraction and digitisation have become important for managing records, simplifying operations, and enhancing customer service. With the right technologies, business owners can access accurate data quickly for better decision-making and efficient management.

Manual data extraction takes more time and effort, with a higher risk of human error. Automation, however, reduces these errors and provides faster results, so you can focus on what matters most, serving your customers and growing your business. With an automated system, data extraction becomes reliable, accurate, and cost-effective.

Main Technologies for Data Extraction and Digitisation

1. Optical Character Recognition (OCR)
OCR is the backbone of data extraction technology. It converts text from non-editable documents, such as images, PDFs, or scanned files into an editable format. For jewellery shop owners, OCR can help digitise purchase records, inventory sheets, and other paperwork, making it easier to manage and search through records.

2. Artificial Intelligence (AI)
AI enhances OCR by allowing systems to understand the context of documents, identify text patterns, and reduce errors. This technology is especially useful for handling detailed records, invoices, and other documents, as it ensures data accuracy and improves organisation. With AI-powered data extraction, you can categorise and analyse information more effectively to make wise business decisions.

3. Machine Learning (ML)
Machine Learning (ML) is a branch of AI that enables systems to learn from data and improve over time. ML works with OCR to identify document types and structures, such as invoices and contracts, by recognising text patterns. For precious metals and jewellery businesses, ML can automate workflows, saving valuable time and reducing the risk of error.

Tools for Data Extraction and Digitisation

1. Imagetotext.io
This online OCR tool is designed for quick text extraction from images and scanned documents, making it suitable for businesses needing simple, rapid data digitisation. With support for multiple languages, Imagetotext.io is ideal for shops needing to digitise receipts, customer information, or supplier records.
Best for: Quick text extraction from images and simple documents.
Pricing: Freemium with unlimited free use for up to three images at a time.

2. ABBYY FineReader 15
A strong, AI-based OCR software, ABBYY FineReader 15 allows users to digitise, retrieve, edit, and share documents smoothly. It supports various document formats and can even compare versions side-by-side. Jewellery and precious metals businesses can use ABBYY FineReader to manage purchase records, track inventory, and keep digital backups of important paperwork.
Best for: Professional document digitisation and management.
Pricing: £55 per year for Mac and £132 per year for Corporate Windows.

3. Google Document AI
Google Document AI uses advanced machine learning to convert unstructured information into structured data, which is easier to analyse and store. This tool is particularly useful for invoices, receipts, contracts, and bank statements. Jewellery shops using Google Document AI can automate document processing and streamline their workflows, saving time and improving efficiency.
Best for: Large-scale document processing with cloud-based integration.
Pricing: Pay-as-you-go, with costs varying by feature usage.

Automation is improving data management for precious metals and jewellery businesses. It increases productivity and improves customer service. OCR, AI, and ML are useful tools for digitising and managing data. They help business owners stay organised and make better decisions based on clear information.

Chisquare supports jewellery and precious metals businesses with analytics solutions that align with their exact needs. Reach out to us for a consultation on how these technologies can help you improve your business processes.

Are you interested in seeing how these tools could benefit your showroom or shop? Get in touch to learn more about digitisation and automation solutions for the jewellery industry.   

Email: [email protected]

Phone: +971 525 695 428
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