NanoNets vs Veryfi

Today, consumers have many choices when it comes to selecting software to use. The wrong product at the right price often ends up being a disaster. This is why the right product at the right product for their needs. However, with choice comes noise. A noisy world of software is challenging to navigate and feel comfortable with a decision. At Veryfi, we understand that and want to make your experience choosing the right software to automate your workload and make you more productive, a breeze. This post is intended to help you compare Veryfi vs NanoNets and make the right decision.

 
 
NanoNets Veryfi
  NanoNets is a platform to help developers build Machine Learning models. Veryfi is a market leader in real-time Data Extraction from Receipts, Invoices and other financial documents.
Speed of OCR Processing (Time to Value) Mixed. Fast to extract small subset of fields but everything else requires HITL. Seconds
Uses Humans-in-the-Loop (HITL) Mixed. AI to extract small subset of fields but everything else requires HITL which is slow. No
Extracts Line-Items (inc. SKUs) No Yes
International Language Support Yes Yes
Global Currency Detection No Yes
International Taxes (GST, HST, VAT) No Yes
Allows Annotations/API For ML Training Only on Enterprise plan On all plans
DOCUMENT CAPTURE NanoNets Veryfi
iOS App SDK No Yes
Android App SDK No Yes
SDKs No Yes (SDKs for Go, Python, C#, Java, NodeJS & Ruby)
PRICING NanoNets Veryfi
Pricing Model 10c per page (5 fields) then 1c for every field. 8-16c per API call (up to 10 pages per API call)
Per Page Pricing Per Page (charged for every page even if Invoice has 2+ pages) Flat Rate (even if Invoice has 2+ pages)
Field Based Pricing Yes (1c per field) No (all you can eat buffet)
Pre-Trained Fields 5 50+ (and growing)
COMPANY NanoNets Veryfi
SOC2 Type2 Certified No (only type 1) Yes
Locations San Francisco, CA, Bengaluru, IN and Mumbai, IN San Mateo, CA and Sydney, AU
Funding $1.5M $12.7M
Customer Reviews 25 Reviews on Capterra 143 Reviews on Capterra and shortlisted as top performer & emerging favorite (see below)
 

🥊 Head to Head Test Drive

 

NanoNets UI

Veryfi UI

Merchant_Name & Merchant_Address are incorrect. Receipt_Number should have been Invoice_Number. 66% right out of 6 fields. Flawless! 50+ fields with line-items extracted in seconds.
[
    {
        "label": "Date",
        "ocr_text": "08/04/20",
        "score": 0.991618,
        "xmin": 2366,
        "xmax": 2624,
        "ymin": 146,
        "ymax": 193
    },
    {
        "label": "Merchant_Name",
        "ocr_text": "RUMPKE OF OHIO INC",
        "score": 0.99988437,
        "xmin": 381,
        "xmax": 914,
        "ymin": 3764,
        "ymax": 3801
    },
    {
        "label": "Merchant_Address",
        "ocr_text": "PO BOX 538710\nCINCINNATI OH 45253-8710\n1234 CUSTOMER\nCLEVELAND OH 44114",
        "score": 0.989266,
        "xmin": 358,
        "xmax": 2345,
        "ymin": 3814,
        "ymax": 3919
    },
    {
        "label": "Merchant_Phone",
        "ocr_text": "8008288171",
        "score": 0.99970895,
        "xmin": 2152,
        "xmax": 2595,
        "ymin": 353,
        "ymax": 401
    },
    {
        "label": "Receipt_Number",
        "ocr_text": "0998811",
        "score": 1,
        "xmin": 2452,
        "xmax": 2685,
        "ymin": 714,
        "ymax": 754
    },
    {
        "label": "Total_Amount",
        "ocr_text": "329.74",
        "score": 0.99952495,
        "xmin": 2511,
        "xmax": 2718,
        "ymin": 3404,
        "ymax": 3445
    }
]
{
  "account_number": "1234987650",
  "bill_to_address": "1234 CUSTOMER AVE\nCLEVELAND OH 44114",
  "bill_to_name": "JOHN DOE",
  "category": "Job Supplies",
  "created": "2021-09-17 17:59:40",
  "currency_code": "USD",
  "date": "2020-08-04 00:00:00",
  "default_category": "Job Supplies",
  "document_reference_number": "515151515",
  "document_type": "invoice",
  "due_date": "2020-08-19",
  "invoice_number": "0998811",
  "is_document": 1,
  "line_items": [
    {
      "date": "2020-08-01",
      "description": "2YD FL/MONTH-MSW",
      "discount": 0,
      "id": 86070203,
      "order": 0,
      "price": 116.32,
      "quantity": 1,
      "reference": "",
      "section": "",
      "sku": "",
      "tax": 0,
      "tax_rate": 0,
      "total": 116.32,
      "type": "product",
      "unit_of_measure": "",
      "weight": ""
    },
    {
      "date": "2020-08-01",
      "description": "FL CASTER SVC",
      "discount": 0,
      "id": 86070204,
      "order": 1,
      "price": 5,
      "quantity": 2,
      "reference": "",
      "section": "",
      "sku": "",
      "tax": 0,
      "tax_rate": 0,
      "total": 10,
      "type": "product",
      "unit_of_measure": "",
      "weight": ""
    },
    {
      "date": "2020-08-01",
      "description": "FUEL SURCHARGE FL",
      "discount": 0,
      "id": 86070205,
      "order": 2,
      "price": 29.89,
      "quantity": 1,
      "reference": "",
      "section": "",
      "sku": "",
      "tax": 0,
      "tax_rate": 0,
      "total": 29.89,
      "type": "fuel",
      "unit_of_measure": "",
      "weight": ""
    },
    {
      "date": "2020-08-03",
      "description": "2YD FL/MONTH-MSW",
      "discount": 0,
      "id": 86070206,
      "order": 3,
      "price": 116.32,
      "quantity": 1,
      "reference": "",
      "section": "",
      "sku": "",
      "tax": 0,
      "tax_rate": 0,
      "total": 116.32,
      "type": "product",
      "unit_of_measure": "",
      "weight": ""
    },
    {
      "date": "2020-08-03",
      "description": "FL CASTER SVC",
      "discount": 0,
      "id": 86070207,
      "order": 4,
      "price": 5,
      "quantity": 1,
      "reference": "",
      "section": "",
      "sku": "",
      "tax": 0,
      "tax_rate": 0,
      "total": 5,
      "type": "product",
      "unit_of_measure": "",
      "weight": ""
    },
    {
      "date": "2020-08-03",
      "description": "FUEL SURCHARGE FL",
      "discount": 0,
      "id": 86070208,
      "order": 5,
      "price": 28.74,
      "quantity": 1,
      "reference": "",
      "section": "",
      "sku": "",
      "tax": 0,
      "tax_rate": 0,
      "total": 28.74,
      "type": "fuel",
      "unit_of_measure": "",
      "weight": ""
    }
  ],
  "ocr_text": "RUMPLE\n\tDate: 08/04/20 Page 1 of 1\n\tService Period: AUGUST\n\tFor Service & Billing Call\n3800 STRUBLE RD\t\t\t\t(800) 828-8171\nCINCINATTI OH 45251\t\t\t\tService Address:\nCustomer #:\t1234987650\t1234 CUSTOMER AVE\nAccess Code:\t515151515\tCLEVELAND OH 44114\n\tInvoice #:\t0998811\n\tInvoice Total:\t329.74\nJOHN DOE\t\t\t\tDue Date:\t08/19/20\n1234 CUSTOMER AVE\nCLEVELAND OH 44114\n\nDate\tDescription\t\tQty\tPrice\tTotal\n08/01/20\t2YD FL/MONTH-MSW\t1.00\t116.32\t116.32\n08/01/20\tFL CASTER SVC\t2.00\t5.00\t10.00\n08/01/20 FUEL SURCHARGE FL\t1.00\t29.89\t29.89\n08/03/20\t2YD FL/MONTH-MSW\t1.00\t116.32\t116.32\n08/03/20\tFL CASTER SVC\t\t1.00\t5.00\t5.00\n08/03/20\tFUEL SURCHARGE FL\t1.00\t28.74\t28.74\nTAXES:\t\t\t\t\t\t23.47\nTOTAL:\t\t\t\t\t\t329.74\n\nCurrent\tOver 30 Days\tOver 60 Days\tOver 90 Days\tUnapplied\n329.74\t329.74\t1.00\t1.00\t.00\nFOLD HERE\tAND THEN SEPARATE\tRETURN THIS PORTION WITH PAYMENT. DO NOT ATTACH CHECK TO STUB\nRUZZLE\nDate:\tCUSTOMER NUMBER\tINVOICE\tINVOICE AMOUNT\tDUE DATE\n08/04/20\t1234987650\t0998811\t329.74\t08/19/20\n\nRUMPKE OF OHIO INC\t\t\tJOHN DOE\nPO BOX 538710\t\t\t1234 CUSTOMER AVE\nCINCINNATI OH 45253-8710\t\tCLEVELAND OH 44114\n\n8438320082027800204160090135",
  "phone_number": "(800) 828-8171",
  "reference_number": "VCDCE-8868",
  "rounding": 0,
  "shipping": 0,
  "subtotal": 306.27,
  "tax": 23.47,
  "total": 329.74,
  "vendor": {
    "address": "3800 Struble Rd, Cincinnati, OH 45251",
    "fax_number": "",
    "lat": 39.265171,
    "lng": -84.6004198,
    "name": "Rumpke",
    "phone_number": "(800) 828-8171",
    "raw_name": "RUMPKE",
    "vendor_logo": "https://cdn.veryfi.com/logos/us/777855076.png",
    "vendor_type": "recycling center,junk removal & hauling"
  }
}
 
 

Gartner’s Magic Quadrant: ❤️ Veryfi

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The 2021 Capterra Shortlist with Veryfi
 

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