Shifted Excitation Raman Difference Spectroscopy (SERDS) is a non-destructive chemical analysis method capable of removing the fluorescence background and other disturbances from the Raman spectrum, thanks to the independence of the fluorescence with respect to the small difference in excitation wavelength. The spectrum difference is computed in a post-processing step. Here, we demonstrate the use of a lock-in camera to obtain an on-line analog SERDS spectra allowing longer exposure times and no saturation, leading to an improved Signal-to-Noise Ratio (SNR) and reduced data storage. Two configurations are presented: the first one uses a single laser and can remove excitation-independent disturbances, such as ambient light; the second employs two-wavelength shifted sources and removes fluorescence background similarly to SERDS. In both cases, we experimentally extrapolate the expected SNR improvement. (C) 2022 Optica Publishing Group under the terms of the Optica Open Access Publishing Agreement