Vendor Statement OCR API

Every vendor statement contains dozens of critical financial and operational data points that organizations desperately need—outstanding balances, payment histories, transaction details, account numbers, credit terms, aging summaries, and contact information—yet most organizations across industries still rely on painfully manual processes that consume 25-40 minutes per statement review, create massive accounts payable bottlenecks, and leave dangerous room for payment errors and vendor disputes. From procurement teams losing supplier relationships while managing payment delays, to finance departments struggling with month-end reconciliation backlogs, to supply chain managers chasing incomplete vendor account information, the cost of manual vendor statement processing extends far beyond wasted time—it directly impacts supplier relationships, cash flow optimization, and financial reporting accuracy.

Veryfi’s Vendor Statement OCR API transforms this broken process by instantly extracting structured, actionable financial data from paper statements and digital documents with 99%+ accuracy, eliminating the need for manual data entry, vendor follow-up calls, and the endless reconciliation work that stalls critical payment processing. Whether you’re managing dozens of vendor relationships monthly or thousands, our advanced machine learning technology scales effortlessly to turn vendor statements into instant financial intelligence, helping forward-thinking organizations across every vertical—from accounts payable teams ensuring accurate payment processing to procurement officers monitoring supplier account status—stop losing time and money to statement processing delays and start gaining the competitive advantage that comes from real-time, automated vendor financial data extraction.