PRODUCT UPDATES New to the VDR! OCR unlike any other

Scans of contracts, photos of invoices, documents in various formats – all of these are everyday occurrences in M&A processes. And when every minute counts, quick access to the content of these files or precise anonymization of personal data can determine the smooth conduct of due diligence. That’s why we introduced a new OCR feature in FORDATA VDR. This technology converts text stored in image form into editable and searchable data. With OCR, we can work with documents as if they were created in a word processor.

OCR (Optical Character Recognition) is a technology that transforms an image containing text (such as a scan or photo) into editable and searchable data. In the context of a Virtual Data Room, where one often works with documents that are not text files, OCR allows users to:

• search for specific phrases or data in scanned documents,
• streamline the process of content analysis and information verification,
• prepare documents for further action, such as anonymization or translation.

FORDATA’s new VDR functionality saves you time and minimizes the risk of errors – without having to install additional software.

An ordinary OCR can recognize text in a good quality scan. But what about when you’re dealing with a poor-quality document, handwritten notes or a mix of languages? This is where OCR in FORDATA VDR gives you the advantage.

What makes our OCR stand out?

• Precision even in difficult conditions
  Low-quality scans, blurry letters, illegible documents? Our OCR can handle where other systems give up.
• Support for various document orientations
  No matter how the document was uploaded to the VDR – sideways, upside down or with a mixed page layout – OCR will read its contents correctly.
• Handwriting recognition
  A feature that is of great importance for signatures, handwritten annotations and notes. Now this information will also become searchable, as well as anonymizable.
• Multilingual support
  OCR can handle documents containing multiple languages, even in a single line of text. This is crucial in international transactions.
• Perfect support for Polish characters
  By doing so, you minimize errors and misrepresentations in the content – especially in legal and financial documents.

In the M&A environment, time is money. The OCR feature in FORDATA VDR allows your team to:

• Find key provisions in contracts and annexes more quickly,
• Reduce search time for large collections of documents,
• Prepare data for further analysis without manual transcription,
• Anonymize data in scans, photos,
• Enable automatic translation of scans and photos of documents
• Avoid costly mistakes resulting from oversights.

This gives you more control over the due diligence process and allows you to act more efficiently – without interrupting your work, even if you are dealing with documents not previously suitable for analysis.

How does it work?

As part of a new feature in VDR, OCR is applied automatically at the file loading stage – without affecting its speed. The system independently identifies documents that are scans or photos and starts processing them. OCR works both during and after uploading. Each file is given a label informing the administrator of the current processing status, and a “OCR processed” designation when completed.

1. Scans of lease documents in the real estate sales process

Scanned lease agreements often vary in quality and format. OCR makes it possible to quickly search for phrases like “notice period,” “monthly rent” or “security for claims” – without going through the pages one by one.

2. Documents in several languages for an international transaction

With its multi-language recognition feature, OCR allows you to analyze the content of contracts containing passages in Polish, English and German in a single file. This facilitates the work of legal and analytical teams without having to separate the content in advance.

3. Checking signatures and endorsements

OCR can also recognize handwritten elements of documents, such as signatures, paraphrases or comments by the parties. This is important when analyzing original contracts or transaction documentation in which comments were made during negotiations.

4. Anonymization of personal data in photos of ID cards and diplomas

In processes such as KYC (Know Your Customer), due diligence or team audits, scans of documents containing sensitive data – such as ID cards, passports or diplomas – are often processed. OCR makes it possible to automatically recognize personal data (such as name, surname, PESEL number, date of birth) even when it appears in graphic or handwritten form. This facilitates subsequent anonymization and ensures compliance with data protection regulations.

5. Automatic translation of contract scans

In international transactions, documents in foreign languages, often delivered in the form of scans or photos, are often analyzed. With OCR, the content of such files becomes recognizable and can be automatically translated without leaving the VDR system. This significantly speeds up work on documentation and reduces the risk of interpretation errors.

FORDATA VDR’s OCR function is another step toward intelligent, automated management of sensitive documents. It saves you time, gives you greater accuracy in document analysis and enhances your document anonymization and automatic translation capabilities with new file formats. Ready to get started!