Vendor Fields

June 29, 2023
3 mins read

Possessing structured data on the vendors your firm regularly engages with holds significant potential in comprehending financial flows and optimizing vendor relationships. With the Veryfi APIs at your disposal, gaining these insights becomes a matter of seconds. By simply uploading your documents to the Veryfi portal, you gain immediate access to a wealth of data points that empower you to take actionable steps. This streamlined process allows for swift decision-making and facilitates the efficient management of vendor-related activities.

What is Possible?

Here are a few possible applications for vendor data fields.

  1. Financial Analysis: Utilize the insights and intelligence to conduct in-depth financial analysis, such as assessing profitability, identifying cost-saving opportunities, or detecting financial anomalies.
  2. Predictive Modeling: Leverage the insights to build predictive models that forecast future outcomes or trends, enabling you to make informed business decisions.
  3. Risk Management: Analyze the intelligence to evaluate the risk associated with vendors or organizations, enabling you to mitigate potential risks or identify potential fraud.
  4. Performance Tracking: Track key performance indicators (KPIs) derived from the insights to monitor the performance of vendors or organizations over time and identify areas for improvement.
  5. Decision Support: Use the intelligence to provide decision support tools or dashboards that help stakeholders make data-driven decisions.

Supported Vendor Fields

As of writing (Jun 2023) the following vendor fields can be obtained from a Veryfi OCR API data extraction.

  • Name and Raw Name
  • Address and Raw Address
  • Logo
  • Phone
  • Fax
  • Email
  • Latitude
  • Longitude
  • Website Url
  • Logo
  • Vendor Category
  • Vendor Account currency
  • VAT Number (Value-Added Tax)
  • ABN Number (Australian Business Number)
  • Vendor Registration Number
  • Store Number Name (enriched)

You can see ALL the supported data fields from the Veryfi OCR API by visiting the Worldwide Coverage page.

Use Cases for Date Fields

Here’s a brief run down of how you can use these vendor fields either in your app to take advantage of the wealth of data Veryfi OCR API provides.

Field NameDescriptionInsights & IntelligencePossible Applications
NameThe name of the vendor or organizationAnalyzing consumer purchase behavior, understanding vendor or merchant frequency and spendIdentifying vendors, creating reports, data analysis, expense management
Raw NameUnprocessed name field, if availableN/AData validation, normalization
AddressThe physical address of the vendor or organizationAnalyzing consumer purchase behaviorGeolocation, mapping, address verification
Raw AddressUnprocessed address field, if availableN/AData validation, normalization
LogoThe logo of the vendor or organizationN/ABranding, visual representation
PhoneContact phone number for the vendor or organizationN/ACommunication, customer support
FaxFax number associated with the vendor or organizationN/ACommunication, document transmission
EmailEmail address of the vendor or organizationN/ACommunication, contact information
LatitudeGeographic latitude coordinate of the vendor’s locationPrecise location of vendor / merchantGeolocation-based applications, mapping
LongitudeGeographic longitude coordinate of the vendor’s locationPrecise location of vendor / merchantGeolocation-based applications, mapping
Website UrlThe web address (URL) of the vendor’s websiteN/ALinking to vendor websites, information retrieval
Vendor CategoryCategorization or classification of the vendor’s products or servicesAnalyzing market trends, identifying popular categoriesFiltering, categorization, data analysis
Vendor Account currencyThe currency used by the vendor for financial transactionsAnalyzing currency trends, assessing financial risksCurrency conversion, financial analysis
VAT NumberValue-Added Tax (VAT) identification number for the vendorCompliance with tax regulations, validating legitimacyTax calculation, compliance
ABN NumberAustralian Business Number (ABN) associated with the vendorVerification of Australian businesses, identificationAustralian business registration, identification
Vendor Registration NumberRegistration number specific to the vendor or organizationCompliance with regulatory requirements, verificationRegulatory compliance, identification
Store Number Name (enriched)Enhanced store name or identifierAnalyzing store performance, identifying patternsStore management, identification, data analysis
Insights & IntelligenceN/AAggregated data analysis, metrics, trends, patternsFinancial analysis, predictive modeling, risk management, decision support, performance tracking, etc.
Over 150 fields can be extracted by Veryfi OCR API. See the whole list.

Are You Ready?

With Veryfi, you have the catalyst to develop extraordinary apps and tools that will captivate customers and leave them utterly enthralled.

As Deloitte puts it, “Data is the new gold.” Embrace the future with Veryfi, positioning yourself for unparalleled success. Tap into the immense power of vendor fields and data, and embark on a remarkable journey of limitless possibilities. Let your imagination soar as you forge a path to greatness, with Veryfi by your side as your trusted companion. Prepare to conquer new horizons and make your mark in the world of innovation.

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