Veryfi vs OCR Invoice AI Detailed comparison features, price

Veryfi

Veryfi is a sophisticated AI-powered OCR (Optical Character Recognition) platform that specializes in automated data extraction from various business documents. The platform leverages deterministic AI models trained on state-of-the-art Nvidia H100s and A100s hardware to ensure accurate and reliable document processing.

The platform offers comprehensive document processing capabilities, including invoice processing, receipt scanning, business card recognition, and bank statement analysis. With support for 38 languages and 91 currencies, Veryfi maintains SOC 2 Type 2 certification and ensures compliance with major data privacy regulations including HIPAA, GDPR, and CCPA.

OCR Invoice AI

OCR Invoice AI offers advanced optical character recognition technology designed to swiftly and accurately extract data from various invoice formats, including PDFs, images, scans, and email attachments. The system utilizes robust AI models that eliminate the need for custom templates and enable effortless processing of invoices from multiple vendors, regardless of layout complexity.

Seamless integrations allow the extracted data to be exported to Excel, Google Sheets, QuickBooks, or an ERP solution, enhancing workflow automation and productivity. With security features such as AES-256 encryption and strong data privacy safeguards, companies can trust their sensitive financial data to remain protected. OCR Invoice AI's customizable rules and automated email parsing capabilities help businesses save time, reduce errors, and scale efficiently without increasing headcount.

Pricing

Veryfi Pricing

Freemium

From $500

Veryfi offers Freemium pricing with plans starting from $500 per month .

OCR Invoice AI Pricing

Paid

From $150

OCR Invoice AI offers Paid pricing with plans starting from $150 per month .

Features

Veryfi

Deterministic AI Models: Trained in-house on H100s and A100s for reliable data extraction
Multi-Document Support: Processes receipts, invoices, W-2s, W-9s, and business cards
International Coverage: Supports 38 languages and 91 currencies
Security Compliance: SOC 2 Type II certified with HIPAA, GDPR, and CCPA compliance
Advanced Processing: Automatic document categorization and duplicate detection
Mobile Integration: Lens framework for iOS, Android, and web browsers
Document Management: Automatic rotation and splitting capabilities
Real-time Processing: High-speed API with 99.995% uptime

OCR Invoice AI

AI OCR Extraction: Processes PDFs, scans, images, and docs for accurate data extraction.
Template-Free Technology: Handles multiple vendor invoice formats without custom templates.
Automated Email Parsing: Processes incoming invoice emails and their attachments automatically.
Custom Rules: Allows user-defined extraction rules for specific vendors or fields.
Seamless Imports: Imports invoices from desktop, shared drive, or email.
Automated Exports: Sends extracted data directly to Excel, Google Sheets, QuickBooks, or ERP.
High Security: Utilizes AES-256 encrypted data processing with strict data privacy policies.

Use Cases

Veryfi Use Cases

Accounts Payable Automation
Expense Management
CPG Loyalty Programs
Construction Documentation
Healthcare Document Processing
Real Estate Document Management
FinTech Integration
Business Card Data Capture

OCR Invoice AI Use Cases

Automating accounts payable data entry for finance teams.
Processing and extracting data from bulk invoice PDFs or scans.
Streamlining invoice management for small businesses handling diverse vendor formats.
Automatically parsing invoices sent to a shared email inbox.
Exporting invoice data to accounting or ERP systems for reconciliation and reporting.

FAQs

Veryfi FAQs

How are API Transactions defined?

An API Transaction is a request to extract data from a single document that spans no more than 15 pages. Documents with more than 15 pages require custom account configuration.
How does Veryfi's deterministic AI compare to LLMs?

Veryfi's ML models are deterministic and trained in-house, providing reliable JSON results, unlike LLMs which can be non-deterministic and prone to hallucinations, making them unreliable for financial numbers.
What is your uptime / availability?

Veryfi offers 99.995% uptime through a blue/green process for automated deployments, with real-time status monitoring of all Web and API services.

OCR Invoice AI FAQs

Does OCR Invoice AI support scanned and searchable PDFs?

Yes, OCR Invoice AI can process both scanned and searchable PDF invoices for data extraction.
Where can the extracted invoice data be exported?

Extracted data can be exported to Excel, Google Sheets, QuickBooks, CSV, or directly into an ERP system.
How is data security ensured for sensitive invoice information?

All data is encrypted using AES-256 encryption during both transmission and storage, with privacy policies ensuring no data is used for AI training.
Can the tool handle different vendor invoice formats without templating?

Yes, the AI-driven solution accommodates various invoice layouts without the need for predefined templates.