W2 OCR, or Optical Character Recognition, is a technology that enables the automated extraction of data from W2 forms. W2 forms are an essential document that employees receive from their employers each year, which outlines their earnings and taxes paid. W2 OCR technology has revolutionized the way this information is processed by automating the manual data entry process, reducing errors, and increasing efficiency. With W2 OCR, businesses can quickly and accurately process W2 forms in bulk, reducing the time and effort required to input the data manually. This technology has also enabled the integration of W2 data into various software systems, making it easier for businesses to manage their tax-related processes.
In addition to its efficiency benefits, W2 OCR technology has also improved data security by reducing the need for human interaction with sensitive financial information. W2 forms contain confidential information such as social security numbers and tax withholdings, which can be compromised if handled incorrectly. With W2 OCR, the data is extracted and processed without any manual intervention, reducing the risk of errors and data breaches. Overall, W2 OCR technology has become an essential tool for businesses looking to streamline their tax-related processes while maintaining the highest levels of accuracy and security.
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Veryfi OCR APIs are pre-trained on hundreds of millions of documents for Day 1 Accuracy™.
Veryfi automatically provides: vendor enrichment, business ID lookup, document categorization, line item expansion & categorization, and due date calculation.
Enable 3-way matching by accurately extracting line item details in invoices, POs, bills of lading, and other documents in your AP workflows and procure-to-pay lifecycle
Veryfi RESTful APIs return formatted JSON with consistent labels for extracted data, so your team can easily integrate Veryfi into your enterprise apps.
Integrate Veryfi with just a few lines of code, liberating your team to stay focused on work that truly matters.