HUD RFI: Optical Character Recognition (OCR) technology

Notice ID: OIG2021SS

“Specifically, HUD OIG is seeking a comprehensive software solution to ingest, analyze and provide visual representation of extremely complex financial information. The software should automatically parse the information into a master investigative database with a very high degree of accuracy to enable the conversion, analysis, or export to other electronic formats. Once the data is populated into a master investigative database, it can be converted into a spreadsheet or other format that can be used by different personnel to perform financial investigation tasks.”

“HUD OIG routinely has a need to convert significant volumes of physical text records into electronic format using Optical Character Recognition (OCR) technology, with end results being accurately and intelligently exported to multiple useable formats (PDFs, Databases, etc).  Historically, HUD OIG has used Omnipage Nuance, Scanwriter and Bankscan.”

General Description of Work:

“The following minimum requirements as follows:

  1. Multiple software licenses are required to be installed on a remote desktop/virtual machine configuration, consistent with Federal IT security standards (e.g., concurrent licenses), with the option to add additional licenses going forward.
  2. Integrate the scanning, Optical Character Recognition (OCR), processing and database functions of various types of financial and other standard formatted documents to improve data input efficiency.
  3. Reads and converts into spreadsheets with 99% accuracy (near perfect reconciliation) many (as many as 100) financial formats including bank records, credit card statements, telephone records, business and financial statements, invoices, hotel bills, etc. in short time periods.
  • Additional documents of high interest to HUD OIG include (but not limited to):
    • HUD-1 (mortgage closing statements)
    • Brokerage records
    • Trust accounts & sub-accounts
    • Checks
    • Pay stubs and payroll records
    • HUD audits or annual report statements
  1. Includes re-programming or updating previously completed templates or the creation of new templates for document types not encountered previously, with turnaround time generally within 40 business hours.
  2. The capability to handle large file sizes without manually breaking up the file.
  3. The capability to provide verification and validation of the data, to ensure accuracy of results for trial and exhibit purposes. This includes the ability to readily correlate the OCR data to the originating source data or document.
  4. Built-in analytical tools, including pattern identification, graphic visualization, charting and other functions to identify links between transactions, related accounts and related entities
  5. Training options, both virtual and in-person, as well as comprehensive, on-going support and technical assistance…”

Read more here.

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