If you go to a lot of conferences and events, you make a lot of connections and get a lot of business cards. Typically, you’ll want to add those business cards into your CRM application, or into your address book. That process typically takes a long time, having to add each persons name, company information, email address, phone, address, etc.

There are applications on the iPhone that scan the card, and add them directly into your address book, but the likelihood of all the information being 100% correct can be very low. CardMunch is taking a whole new approach to adding business cards into your address book.

With CardMunch, the chance of having the contact information added incorrect to your address book is almost zero to none. The service delivers the highest possible accuracy of the business card transcription by using a human workforce to transcribe and verify the information on the card. The transcribed information is returned to the mobile phone as a contact.

So here’s the process;

You scan the business card, and that image gets sent to CardMunch’s workforce to fill in the information. The information is then double or even triple checked to make sure it’s accurate, and then in a matter of minutes, is sent back to the phone as a contact.

One of my favorite features of CardMuch is the ability to chose where the contact should go. CardMunch lets you choose which cards you want to push to your phone’s address book, and which ones you just want to keep within the CardMunch app. That way you still have it for the rare occasion that you may need it in, but don’t end up cluttering up your phone’s address book with contacts you may never use.

The actual application for the iPhone costs $2.99, and comes with 10 credits. It costs one credit per card entered, and if you want to add more cards, it’s 25 cents per card.

This seems like a no-brainer for business development and marketing folk to get. For them, the costs are generally cheap, and in the end, will probably well worth it. I had a chance to see the application in action from investor Manu Kumar, and was generally impressed. This is a company you’re going to want to keep an eye on. Check out the video below to see how CardMunch works.

Overview of CardMunch in 21 Seconds from CardMunch on Vimeo.