Invoice OCR, or Invoice Optical Character Recognition, is a technology that uses machine learning and artificial intelligence to extract data from invoices and other financial documents. With the increasing volume of invoices and the need for accurate and efficient data processing, invoice OCR has become an indispensable tool for businesses of all sizes. By scanning invoices and extracting relevant data such as invoice number, date, amount, and supplier information, invoice OCR enables businesses to automate their accounts payable processes, reduce errors, and save time and money.
One of the key benefits of invoice OCR is its ability to eliminate manual data entry, which can be time-consuming and error-prone. By automating data extraction from invoices, businesses can reduce the risk of errors and ensure that their financial records are accurate and up-to-date. Additionally, invoice OCR can help businesses speed up their invoice processing times, enabling them to pay suppliers more quickly and take advantage of early payment discounts. Overall, the use of invoice OCR can lead to greater efficiency, improved accuracy, and cost savings for businesses that rely on invoices and other financial documents for their operations.
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Veryfi OCR APIs are pre-trained on hundreds of millions of documents for Day 1 Accuracy™.
Veryfi automatically provides: vendor enrichment, business ID lookup, document categorization, line item expansion & categorization, and due date calculation.
Enable 3-way matching by accurately extracting line item details in invoices, POs, bills of lading, and other documents in your AP workflows and procure-to-pay lifecycle
Veryfi RESTful APIs return formatted JSON with consistent labels for extracted data, so your team can easily integrate Veryfi into your enterprise apps.
OCR APIs with Day 1 Accuracy™ for data extraction of invoices and other financial documents.
Integrate Veryfi with just a few lines of code, liberating your team to stay focused on building industry-leading customer experiences.