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Peripheral Advantages Disadvantages Impacts
MICR (Magnetic Less errors Can break down Banks spend less on
Ink Character More efficient Cheque may be lost wages. Cheques can be
Recognition) Cheques get paid Less secure processed quicker.
faster
OCR (Optical Can scan Scans may be invalid Companies can
Character documents faster due…

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efficiency of the data
collection.
MICR is a device which is used to read code/numbers written in magnetic ink on
classified documents such as cheques or bank statements.
OCR is a device that scans documents and pictures and can register the data on
them and recognise particular features on the…

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