Data Comprehension: Veryfi vs Competitors
Author: Ernest Semerda
Veryfi API converts (OCRs) your scanned photos, pdfs and emails of receipts, invoices and bills into text in 3 seconds with accuracy surpassing human capabilities and speeds only a machine can achieve.
Every data extraction returns a lot of fields from the document (listed below) including line-items.
If you are using human labor to do data extraction either yourself or via CloudFactory or Mechanical Turk, then it’s time you had a chat with Veryfi. But don’t take our word, Test Drive our OCR API and see for yourself.
Veryfi extracts all the data from documents building a deep comprehension map of the document’s context. This allows Veryfi to accurately categorize the transaction for tax purposes.Head of Finance, ERP
And coupled with Veryfi’s Rules IFTTT API you can run complex pipe workflows like
IF OCRText CONTAINS "Po Code" THEN APPLY Category "Construction" APPLY Tag "Job Site" ENDIF
For those using Veryfi OCR for Accounting Automation you can have Veryfi Categorize your receipts for tax purposes in expense claims. Because of Veryfi’s rich comprehension of all the content inside a receipt or invoice, Veryfi AI can accurately understand what the receipt (expense) or bill (payable) is about and then categorize it based on your chart of accounts.
This is a colossal time saving for both accountants and bookkeepers whom often have to deal with stacks and stacks of paper per client.
If we missed a data point you require then please let us know. We have perfected the art of data extraction and machine learning training. This means we can either expose a new data point (field) for you or train the system for you. Just ask.