Veryfi - OCR API for Invoice & Receipt Data Extraction
 

HubDoc vs Veryfi

The world is changing. Consumers demand to know what personal data is collected about them, who is looking at it and where it’s traveling.

If you are looking at solutions for expense management and data extraction at volume from financial documents and landed on this page then you are most likely comparing HubDoc to Veryfi. On the outside, both companies provide data extraction capabilities, but when you look at the detail of the 2, they are world apart in quality, speed and accuracy. The chart below demonstrates these differences.

 
 
Veryfi.com - Receipt OCR API for Real-Time Data Extraction HubDoc
Summary 100% software with real-time machine data extraction end-to-end. Humans-in-the-loop software with up to 1 hour for data extraction processing.
Speed of Processing Data Extraction 3-5 seconds 1-8 hours
Error Rate 3% 27.5%
Data Extracted A lot! See below 3 fields only
Uses Humans-in-the-Loop No Yes (terms)
Scaling Capabilities Instant. Unlimited. Slow. More human labor has to be thrown at it.
CCPA compliant? Yes No
HIPAA compliant? Yes No
GDPR (EU) compliant? Yes No
Has API Yes No
Mobile App Rating
4.9 star rating on App Store
1.9 star rating on App Store
 

Data Extraction: Veryfi vs HubDoc

Veryfi.com - Invoice OCR API for Real-Time Data Extraction
  • Vendor name
    • Name
    • Address
    • Logo
    • Phone
    • Fax
  • Subtotal
  • Discount
  • Shipping cost
  • Tax (VAT, GST)
  • Tip
  • Total
  • Rounding
  • Category
  • Payment Method
    • Card Type
    • Card Number
  • Bill To Name
  • Bill To Address
  • Bill To VAT #
  • Document Type
 (receipt vs bill)
  • Currency
  • Currency Exchange Rate
  • Invoice Number
  • Purchase Order Number
  • Reference Number
  • Company VAT Number
  • Company ABN Number
  • Invoice Date
  • Due Date
  • Payment Terms
  • Service Start Date (or arrival in hotel folio)
  • Service End Date (or departure in hotel folio)
  • Account Number
  • Ship To Name
  • Ship To Address
  • Tracking Number
  • SKU level Line Items
    • Date
    • SKU
    • Description
    • Quantity
    • Tax
    • Discount
    • Total
    • Unit of Measure
  • Tax lines breakdown
    • Tax name
    • Tax rate %
    • Tax amount
  • Bank information
    • Bank name
    • Routing number
    • Account number
    • IBAN
3 seconds
HubDoc
  • Vendor name
  • Total
  • Date
hours
Few concerning data privacy points about HubDoc

Few concerning data privacy points about HubDoc

The following are all available from HubDoc’s terms page.

HubDoc uses humans-in-the-loop

HubDoc uses humans for data extraction. This explains why it is so slow to process ie. when human labor is available.

However there is no mention of this in their GDPR or CCPA sub-processors. Why?

HubDoc uses humans-in-the-loop
HubDoc stores your login credentials

When you share your login credentials with HubDoc from your bank, PG&E, Telstra/Verizon account etc… HubDoc will store those login credentials instead of using a secure OAuth integration. Why?

HubDoc harvests your logins

The choice is clear..

If you care about data privacy, speed and accuracy of your data extraction then see the Veryfi experience below.

Few concerning data privacy points about HubDoc

Test Drive The Veryfi Experience 👇

Contact sales@veryfi.com to schedule a call for more information

 

 

 
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