Veryfi

TL;DR

Enterprise-grade OCR API that transforms documents into structured data in seconds with 99.9% accuracy
Processes 50+ document types including receipts, invoices, checks, W-2s, and bank statements
Built for developers and enterprises seeking SOC 2 Type II compliant document automation
Trusted by Fortune 500 companies like Square, Volvo, and PepsiCo

What is Veryfi

Veryfi is an AI-powered document processing platform that transforms unstructured documents into structured, actionable data through advanced OCR and machine learning technology. As an enterprise-grade Intelligent Document Processing (IDP) solution, it enables businesses to automatically capture, extract, and process data from over 50 document types including receipts, invoices, bank statements, checks, and tax forms with 99.9% accuracy. The platform combines cutting-edge OCR APIs with mobile capture SDKs and bolt-on services like fraud detection and document classification, making it a comprehensive solution for companies looking to eliminate manual data entry and automate their document workflows.

Key Features

50+ Document Type Support: Extract data from receipts, invoices, bank checks, W-2s, W-9s, bank statements, bills of lading, business cards, and more with pre-trained models that deliver production-ready accuracy from day one.
Line-Level Data Extraction: Capture granular details including individual line items, SKUs, quantities, prices, taxes, and discounts from receipts and invoices, enabling advanced analytics and fraud detection.
Mobile & Browser Capture SDKs: Integrate document capture directly into mobile apps and web applications with Lens technology, supporting real-time edge processing and offline functionality.
Fraud Detection & AI Document Detective: Built-in fraud detection capabilities identify suspicious documents, altered receipts, and AI-generated fake documents to protect against financial fraud.
Business Rules Engine: Apply custom validation rules and automated workflows to processed documents, ensuring data meets your specific business requirements before integration.
Global Coverage & Multi-Language Support: Process documents from 110+ countries in multiple languages and currencies, with automatic vendor matching against a database of millions of merchants.
Developer-First Platform: Comprehensive SDKs available in 12+ programming languages, RESTful APIs, webhooks, and detailed documentation for rapid integration.
SOC 2 Type II Compliance: Enterprise-grade security with GDPR, HIPAA, CCPA, and ITAR compliance, ensuring your sensitive data is protected with bank-level encryption.

Who is Veryfi for?

FinTech Companies: Building expense management, accounts payable, or bill payment applications that require accurate document data extraction
CPG Brands & Retailers: Running loyalty programs that need receipt validation, purchase verification, and consumer behavior analytics
Accounting & Finance Teams: Automating accounts payable, expense reporting, and financial document processing workflows
Healthcare Organizations: Processing insurance cards, medical prescriptions, lab reports, and other healthcare documents while maintaining HIPAA compliance
Construction Companies: Managing invoices, purchase orders, bills of lading, and other supply chain documentation
Real Estate Firms: Automating property management documentation, rent receipts, and maintenance invoices
Software Developers & System Integrators: Building document automation features into existing applications or creating new IDP solutions

Key Use Cases & Applications

Automated Expense Management: Build expense reporting apps that automatically capture receipt data, categorize expenses, and enforce company policies without manual entry
Accounts Payable Automation: Streamline invoice processing by extracting vendor details, line items, and payment terms for seamless ERP integration
CPG Loyalty Program Validation: Instantly verify purchase receipts for loyalty programs, eliminating clearing houses and reducing fraud with real-time validation
Financial Document Processing: Automate bank statement reconciliation, check processing, and tax document extraction for accounting workflows
Insurance Claims Processing: Extract data from medical receipts, insurance cards, and claim documents to accelerate reimbursement workflows
Supply Chain Documentation: Process bills of lading, purchase orders, and shipping documents to maintain accurate inventory and logistics records
Mobile Receipt Capture for Field Teams: Enable sales reps and field workers to capture expenses on-the-go with offline processing capabilities

Pros

Exceptional Accuracy with Minimal Training: Achieves 99.9% accuracy out-of-the-box without requiring custom model training or extensive configuration
Blazing Fast Processing: Sub-5 second document processing times enable real-time user experiences and high-volume batch processing
Comprehensive Document Coverage: Supports 50+ document types with pre-trained models, eliminating the need for multiple OCR vendors
Developer-Friendly Integration: Extensive SDK support in 12+ languages with clear documentation, code samples, and responsive technical support
Enterprise Security Standards: SOC 2 Type II certified with HIPAA, GDPR, and CCPA compliance provides peace of mind for sensitive data processing
Advanced Line-Item Extraction: Granular data extraction capabilities capture individual products, SKUs, and pricing details that many competitors miss

Cons

Limited Document Types on Lower Tiers: Free and Pay-As-You-Go plans only support receipts and invoices, requiring custom tier for full document type access
Significant Price Jump for Full Features: Moving from free receipt/invoice processing to pay as you go requires $500+/month minimum
Storage Limitations on Entry Plans: Limited storage on free and pay-as-you-go tiers may require frequent data management for high-volume users
Add-On Pricing for Advanced Features: Key features like Lens capture, fraud detection, and product matching are only available as paid add-ons on enterprise plans

Pricing Info

Free Forever - $0/month
- Receipts & Invoices only
- Features for Development
- Limited Storage
- Email Support
Pay As You Go - $500+/month
- Receipts & Invoices only
- Standard Features
- Limited Storage
- Email Support
Volume Discounts - Custom pricing
- Volume discounts for 10K+ docs/mo
- All Document Types
- All Features
- Add-on: Lens (Document Capture)
- Add-on: Product Matching
- Add-on: Fraud Detection
- Unlimited Storage
- Email and Slack Support
- SLA Options
- Advanced Model Training
- Quarterly Reviews

FAQs

How quickly can I integrate Veryfi's OCR API into my application?

Most developers can complete basic integration within hours using Veryfi's comprehensive SDKs and documentation. The platform provides ready-to-use code samples in 12+ programming languages, Postman collections for API testing, and a free trial with immediate API access. For simple receipt or invoice processing, you can have a working prototype the same day. More complex implementations with custom business rules or multiple document types typically take 1-2 weeks.

What happens to my documents after processing? How secure is the data?

Veryfi is SOC 2 Type II certified and compliant with GDPR, HIPAA, CCPA, and ITAR standards. Documents are encrypted in transit and at rest using bank-level encryption. By default, processed documents are retained for 24 hours for retrieval, then automatically deleted. You can configure custom retention policies or request immediate deletion after processing. Veryfi never uses customer data for training models without explicit permission.

Can Veryfi handle poor quality images or non-English documents?

Yes, Veryfi's AI models are trained on millions of real-world documents including blurry, crumpled, and poorly lit images. The platform includes automatic image enhancement and can process documents from 110+ countries in multiple languages. The Lens SDK also provides real-time image quality feedback to help users capture better photos. For extremely poor quality images, the API returns confidence scores so you can implement appropriate validation workflows.

How does pricing scale for high-volume document processing?

Veryfi offers volume-based pricing with significant discounts starting at 10,000 documents per month. The custom enterprise tier provides predictable pricing models including per-document rates, monthly commitments, or annual contracts. High-volume customers also receive dedicated support, custom model training, and SLA guarantees. Contact their sales team for specific pricing based on your expected document volume and types.

What makes Veryfi different from other OCR providers like AWS Textract or Google Document AI?

Unlike generic OCR services, Veryfi specializes in financial and business documents with pre-trained models that understand document context. This means 99.9% accuracy out-of-the-box without training, compared to 60-80% accuracy from generic OCR requiring extensive configuration. Veryfi also provides line-item extraction, automatic vendor matching, fraud detection, and a complete mobile capture SDK - features that would require significant development effort with generic OCR services.

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