W-2 OCR, or Optical Character Recognition, is a technology that enables the automated extraction of data from W-2 forms. W-2 forms are an essential document that employees receive from their employers each year, which outlines their earnings and taxes paid. W-2 OCR technology has revolutionized the way this information is processed by automating the manual data entry process, reducing errors, and increasing efficiency. With W-2 OCR, businesses can quickly and accurately process W-2 forms in bulk, reducing the time and effort required to input the data manually. This technology has also enabled the integration of W-2 data into various software systems, making it easier for businesses to manage their tax-related processes.
In addition to its efficiency benefits, W-2 OCR technology has also improved data security by reducing the need for human interaction with sensitive financial information. W-2 forms contain confidential information such as social security numbers and tax withholdings, which can be compromised if handled incorrectly. With W-2 OCR, the data is extracted and processed without any manual intervention, reducing the risk of errors and data breaches. Overall, W-2 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.