Veryfi

Veryfi is a cutting-edge AI platform specializing in Intelligent Document Processing (IDP). It leverages multimodal AI to turn any document—from receipts and invoices to bank statements and W-2s—into structured, actionable data. With a focus on developers and enterprises, Veryfi provides a suite of powerful OCR APIs and SDKs that deliver 99.9% accuracy, processing speeds under 5 seconds, and robust, SOC 2 Type II certified security. The platform is designed to eliminate manual data entry, streamline workflows, and unlock new business insights from previously inaccessible document data.

Unlike traditional OCR solutions, Veryfi's AI is trained in-house on millions of documents, ensuring high reliability and deterministic results, which is crucial for financial applications. The platform is built with a security-first mindset, using its own proprietary infrastructure to ensure data privacy and compliance with regulations like GDPR, HIPAA, and CCPA.

How to use Veryfi

Veryfi is primarily an API-first platform, designed for seamless integration into existing applications and workflows. Here's a typical integration process:

1. Sign Up & Get API Keys: Create an account on the Veryfi website to get your API credentials. You can start with a free plan to test the service.
2. Choose Your Integration Method: Veryfi offers RESTful APIs and free SDKs for numerous programming languages, including Python, Java, Node.js, PHP, Go, and Swift. This allows developers to quickly integrate data capture capabilities into their software.
3. Capture Documents: Documents can be submitted to the API via various methods. You can upload a file (JPG, PNG, PDF), send a URL, or use Veryfi Lens, a mobile capture framework for iOS, Android, and web browsers that optimizes image quality for extraction.
4. Process and Receive Data: Once a document is submitted, Veryfi's AI engine extracts all relevant data in real-time, including line items, vendor details, totals, taxes, and more. The structured data is returned in a clean JSON format in seconds.
5. Utilize the Data: The structured data can then be used to automate expense reporting, accounts payable processes, loyalty program validation, and countless other workflows.

Core Features of Veryfi

• High-Accuracy Data Extraction: Achieves 99.9% accuracy in extracting data from a wide variety of documents, including detailed line-item (Level 3) data.
• Blazing-Fast Speed: Processes documents and returns structured data in under 5 seconds, enabling real-time applications.
• Broad Document Support: Capable of processing invoices, receipts, checks, W-2s, W-9s, bank statements, driver's licenses, passports, bills of lading, and many more.
• Global Capabilities: Supports 38 languages and over 91 currencies, automatically detecting and processing international documents.
• Enterprise-Grade Security & Compliance: SOC 2 Type II certified and compliant with GDPR, HIPAA, CCPA, and ITAR. All processing is done in-house, ensuring data never leaves the Veryfi ecosystem.
• Fraud Detection: Offers advanced services like GenAI Detective to identify forged or synthetic documents and flag suspicious transactions.
• Developer-Friendly Tools: Provides comprehensive SDKs, a powerful RESTful API, detailed documentation, and mobile capture frameworks (Veryfi Lens) to accelerate development.
• Bolt-on Services: Includes additional APIs for classification, a business rules engine, and product intelligence to further enhance data value.

Use Cases for Veryfi

Veryfi's technology is versatile and applicable across numerous industries:

• FinTech & Expense Management: Automate expense reporting by capturing receipt data instantly. Power bill payment apps by extracting invoice details with line-item precision.
• Consumer Packaged Goods (CPG) & Loyalty: Enable real-time validation of receipts for loyalty programs, eliminating clearing houses and detecting fraud. Gain insights into consumer purchasing behavior.
• Backoffice & AP Automation: Eliminate manual data entry for accounts payable teams. Integrate with RPA and ERP systems to create fully automated document processing workflows.
• Construction: Streamline project management by automatically extracting data from invoices, purchase orders, and timesheets.
• Healthcare: Process patient documents like insurance cards and superbills in a HIPAA-compliant manner, automating claims processing and reducing administrative overhead.
• Real Estate: Help landlords and property managers automate the tracking of expenses by extracting data from receipts and contractor invoices.

Advantages of Veryfi

Veryfi stands out with its commitment to accuracy, speed, and security. Its deterministic AI models provide reliable and consistent results, a critical factor for financial and compliance-driven use cases, avoiding the 'hallucinations' common with general-purpose LLMs. The platform's 'Day 1 Ready' accuracy means businesses can go from prototype to production in minutes, not months. Furthermore, its comprehensive security posture and in-house infrastructure offer peace of mind for enterprises handling sensitive data. The extensive developer resources make it easy to integrate and scale.

Pricing and Plans

Veryfi offers a flexible pricing structure to suit different needs:

• Free Plan: Ideal for development and small-scale use. Includes up to 100 documents (receipts & invoices only) per month at no cost.
• Pay As You Go Plan: A flexible, usage-based plan starting with a $500/month minimum commitment. Pricing is per document (e.g., $0.08 per receipt, $0.16 per invoice), with costs decreasing as volume increases.
• Custom/Volume Plan: Designed for enterprises with high-volume needs. This plan offers volume discounts, access to all document types, add-on features like Veryfi Lens and Fraud Detection, dedicated support, and SLA options. Pricing is available upon contacting their sales team.