Veryfi
About Veryfi
Veryfi is a sophisticated document AI platform that revolutionizes the way businesses handle document processing and data extraction. By leveraging advanced machine learning and artificial intelligence, Veryfi transforms unstructured documents into actionable, structured data within seconds, serving diverse industries from fintech and healthcare to enterprise operations and consumer packaged goods.
At its core, Veryfi's OCR API & SDK platform delivers enterprise-grade accuracy through pre-trained machine models while offering unique customization options. Organizations can either utilize the out-of-the-box functionality for immediate deployment or work with Veryfi's dedicated ML team for custom model training and fine-tuning to meet specific business requirements. This hybrid approach ensures both rapid implementation and tailored solutions when needed.
The platform's comprehensive toolkit includes:
* Veryfi Lens for versatile document capture across mobile devices, browsers, and credit card scanning, along with WhatsApp chatbot integration and PDF splitting capabilities
* Specialized OCR APIs optimized for specific document types including receipts, invoices, checks, bank statements, W-2s, and W-9s, ensuring precise data extraction for each format
* GenAI AnyDoc technology that extends processing capabilities to a broader range of document types beyond standard templates
* Advanced data services featuring fraud detection, business rules engine, and sophisticated line-item product matching
* InSights functionality that transforms raw data into actionable business intelligence
Post-processing capabilities elevate Veryfi beyond simple data extraction. Their sophisticated Business Rules Engine, coupled with advanced Fraud Detection systems, ensures data integrity and security. The InSights feature and Line-Item Product Matching capabilities transform raw data into valuable business intelligence, enabling organizations to make data-driven decisions with confidence.
Security and compliance are paramount in Veryfi's architecture. The platform maintains bank-grade security standards with SOC2 Type2 certification and adheres to major privacy regulations including GDPR, HIPAA, and CCPA. This robust security framework makes Veryfi suitable for highly regulated industries and enterprises handling sensitive information.
The platform particularly excels in fintech applications, supporting expense management, accounts payable, and bill pay solutions. In the CPG sector, Veryfi's receipt validation and loyalty program capabilities provide valuable tools for customer engagement and program management. The system's ability to process line-item data (Level III data in payments and SKUs in CPG/FMCG markets) offers unprecedented detail in data extraction and analysis.
Based in Silicon Valley, Veryfi's customer support is Tier 1, providing organizations with direct access to technical expertise and their ML team. This ensures businesses receive the support needed to optimize their document processing workflows and maximize the platform's capabilities. Whether implementing a turnkey solution or developing a customized application, Veryfi's scalable architecture and robust APIs enable seamless integration into existing business systems.
Through its combination of immediate functionality, customization options, comprehensive security, and advanced features, Veryfi empowers organizations to automate document processing, eliminate manual data entry, and unlock the value hidden in their documents. The platform's continuous learning capabilities ensure increasing accuracy over time, making it a future-proof solution for organizations seeking to streamline their document processing workflows and enhance their operational efficiency.
Key benefits of Veryfi
Veryfi's key benefits:
* Real-Time AI-Powered Processing
Delivers instant document processing and data extraction without human intervention, leveraging advanced machine learning models for immediate results. The system processes documents in real-time, eliminating traditional processing delays and manual review cycles.
* Enterprise-Grade Accuracy
Combines sophisticated OCR technology with AI and machine learning to achieve accuracy levels that consistently surpass human processing. The system's continuous learning capabilities ensure increasing precision over time, especially for complex documents with line-item details.
* Customizable ML Architecture
Offers both out-of-the-box functionality and advanced fine-tuning options. Organizations can utilize pre-trained models immediately or work with Veryfi's ML team for custom model training, ensuring optimal performance for specific document types and business requirements.
* Advanced Line-Item Extraction
Excels in detailed data extraction, particularly for line-item processing (Level III data in payments and SKUs in CPG/FMCG markets). This granular extraction capability enables deeper analysis and more accurate document processing for complex financial and inventory documents.
* Comprehensive Security Framework
Implements bank-grade security protocols with SOC2 Type2 certification, ensuring data protection throughout the processing lifecycle. Complies with major privacy regulations (GDPR, HIPAA, CCPA) while maintaining processing speed and accuracy.
* Scalable Template-Free Processing
Eliminates the need for predefined templates through intelligent document recognition and processing. The system adapts to new document formats without requiring manual template creation, enabling rapid scaling across different document types and formats.
* GenAI Integration
Incorporates advanced generative AI capabilities through AnyDoc technology, extending processing capabilities to handle a broader range of document types beyond standard formats. This ensures consistent performance even with previously unseen document layouts.
* Automated Quality Assurance
Features built-in fraud detection and verification systems that automatically flag suspicious documents or data anomalies, reducing risk while maintaining processing speed and efficiency.
* API-First Architecture
Provides a turnkey API solution designed for seamless integration into existing business systems. The robust API framework enables quick implementation while maintaining flexibility for custom requirements.
* Continuous Improvement Engine
Utilizes machine learning to continuously improve accuracy and processing capabilities. The system learns from each processed document, enhancing its ability to handle complex cases and unique document formats over time.
These benefits make Veryfi particularly valuable for organizations requiring high-speed, accurate document processing with enterprise-grade security and customization options. The platform's combination of immediate functionality and advanced AI/ML capabilities ensures both immediate value and long-term scalability.
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Reviews
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Software buyers need your help! Product reviews help the rest of us make great decisions.
- Industry: Computer Software
- Company size: 2–10 Employees
- Used Daily for 1+ year
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Excellent Receipt / Expense Report OCR app!
Reviewed on 9/12/2021
We are able to better budget our monthly accounts.
We are able to better budget our monthly accounts.
Pros
The OCR, AI, ability to connect outside applications (ex: Quickbooks), add bank feeds,
Cons
The tags and categories a bit confusing.
Response from Veryfi
Thanks for your review! We appreciate your feedback, and are happy to see that our software is helping you manage your budget. Accurate data extraction for line item details is one of the hardest things to accomplish with AI-Driven OCR, it's great to hear that you're getting accurate results with our app.
Cheers,
The Veryfi Team
- Industry: Industrial Automation
- Company size: Self Employed
- Used Daily for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Indispensable
Reviewed on 17/08/2021
Pros
Point of Sale disposition of bookkeeping chores. Finished before I hit the door.
Cons
I can't resist getting into conversations with random people when they see me use it.
Response from Veryfi
Robert, Love your feedback! Thank you so much for your support.
PS. Don't forget to use your code in the referral program (https://hub.veryfi.com/referrals/) so we can credit your account for every user you share Veryfi with
Best,
Ernest
- Industry: Hospital & Health Care
- Company size: Self Employed
- Used Weekly for 1-5 months
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Likelihood to recommend 6.0 /10
Practical but expensive
Reviewed on 14/11/2022
Pros
Easy to take pictures of receipts, the software reads well the data on it. Organisation is good.
Cons
The cost is high for a small business like mine. I am using it for receipt that can be tax deductible as I am self employed. I wish there was a smaller fee for lower usage.
Response from Veryfi
Thanks for your review! We appreciate your feedback, and will take it under consideration.
Cheers,
The Veryfi Team
- Industry: Entertainment
- Company size: Self Employed
- Used for 6-12 months
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Review Source
Overall rating
- Ease of Use
- Customer Support
- Likelihood to recommend 8.0 /10
Easy to Implement, Fast and Accurate Processing
Reviewed on 18/08/2020
Really easy to implement, responsive team, worked with us for over a year to meet our business...
Really easy to implement, responsive team, worked with us for over a year to meet our business needs. We were waiting for the right time to release an OCR feature (a customer request), and we are thrilled with the result!
Pros
Veryfi is super fast at processing information from receipt to JSON, and it has a lot of accuracy---including recognizing pretty terrible hand writing!!
Cons
Wish their pricing model incorporated multiple platforms within the subscription, instead of separating out the APIs between iOS/Android.
Reasons for Switching to Veryfi
We were able to get the price right for our company to invest in this API. Specifically, we didn't have the bandwidth to implement our own OCR functionality within our iPhone app which we were considering trying out with CoreML functionality by Apple, or Google Cloud Vision. Weren't as thrilled with the Textract option from Amazon. For the sake of time and getting accurate results, we went with Veryfi and have been very happy with the results!! Thank you, Veryfi!!!Response from Veryfi
Love it! Thank you so much for your beautiful feedback and support! We are thrilled to support you and your team.
Best, Ernest
- Industry: Telecommunications
- Company size: 201–500 Employees
- Used Daily for 1-5 months
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 7.0 /10
Time saver
Reviewed on 23/07/2020
We used it to cover our invoice OCR needs, saved us a bunch of time on that.
We used it to cover our invoice OCR needs, saved us a bunch of time on that.
Pros
Easy to integrate to our software, great support, nice features.
Cons
Rules functionality could be more robust.
Alternatives Considered
DatamolinoReasons for Choosing Veryfi
Palette was very rigid, took a lot of time to adapt to our needs and did not process mexican invoices the way we needed them to, so we decided to develop our own software. We realized it would take us a lot of time to develop decent OCR functionality, so we started looking for a third party solution.Reasons for Switching to Veryfi
Language support, invoices can be corrected via API and it learns from those corrections. The team was very willing to adapt to our needs even before we decided to go for it and have proven it since.Response from Veryfi
David, thank you for the great feedback and support! // Rusty
Veryfi FAQs
Below are some frequently asked questions for Veryfi.Q. What type of pricing plans does Veryfi offer?
Veryfi offers the following pricing plans:
- Starting from: US$0.00/month
- Pricing model: Free Version, Subscription
- Free Trial: Available
Transparent no-contract pricing, ready-to-go out of the box data extraction. [Plan] STARTER: Starter plan for companies to 25,000 transactions / month . Minimum: $500 includes 6,250 receipts and/or 3,125 invoices Then pay per Receipt: $0.08 Invoice: $0.16 [Plan] GROWTH: Growth plan is for companies doing more than 25,000 transactions / month Sliding Price Rates when you reach scale.
Q. Who are the typical users of Veryfi?
Veryfi has the following typical customers:
Self Employed, 2–10, 11–50, 51–200, 201–500, 501–1,000, 1,001–5,000
Q. What languages does Veryfi support?
Veryfi supports the following languages:
Arabic, Basque, Brazilian Portuguese, Bulgarian, Catalan, Chinese, Croatian, Czech, Danish, Dutch, English, Estonian, European Portuguese, Finnish, French, Galician, German, Greek, Hebrew, Hindi, Hungarian, Icelandic, Indonesian, Irish, Italian, Japanese, Kazakh, Korean, Latvian, Lithuanian, Malay, Norwegian, Polish, Portuguese, Romanian, Russian, Serbian, Serbian, Slovak, Slovenian, Spanish, Swedish, Thai, Traditional Chinese, Turkish, Ukrainian, Vietnamese
Q. Does Veryfi support mobile devices?
Veryfi supports the following devices:
Android (Mobile), iPhone (Mobile), iPad (Mobile)
Q. What other apps does Veryfi integrate with?
Veryfi integrates with the following applications:
Acumatica Cloud ERP, Box, Dropbox Business, Dynamics 365, Google Drive, Google Sheets, NetSuite, Odoo, QuickBooks Online, SAP Concur, Sage Intacct, Sage X3, Salesforce Platform, Slack, Xero
Q. What level of support does Veryfi offer?
Veryfi offers the following support options:
Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live rep), Chat
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