The High 3 OCR Kofax Alternate options

Kofax, a well known participant within the Clever Automation trade, has been a go-to alternative for companies in search of doc seize, workflow administration, and Robotic Course of Automation (RPA) options. Nevertheless, the ever-evolving market presents a wide range of alternate options that present related functionalities and even distinctive options to cater to numerous enterprise wants.

On this weblog put up, we’ll discover 5 highly effective alternate options to Kofax which have made a major impression within the realm of course of automation and doc administration. These alternate options carry innovation, effectivity, and adaptability to the desk, empowering organizations to optimize their workflows, enhance accuracy, and in the end drive higher enterprise outcomes.

Let’s dive into the world of Clever Automation and uncover the strong Kofax alternate options that may revolutionize the best way your group operates. Whether or not you are a small enterprise in search of cost-effective options or an enterprise in search of scalable automation, there is a appropriate different ready to rework your corporation processes.

Kofax is a number one supplier of Clever Automation options that empower organizations to automate and streamline their enterprise processes successfully. With a wealthy historical past relationship again to 1985, Kofax has established itself as a outstanding participant within the area of doc seize, workflow administration, and Robotic Course of Automation (RPA).

Key Options of Kofax

• Doc Seize: Kofax presents superior doc seize know-how that may effectively extract information from varied sources, together with bodily paperwork, emails, faxes, and digital recordsdata. This characteristic ensures correct and automatic information entry, lowering the necessity for handbook information dealing with and minimizing errors.
• Workflow Automation: Kofax gives a robust workflow automation platform that enables organizations to design, handle, and optimize their enterprise processes. By automating routine duties and approvals, companies can improve effectivity, scale back processing instances, and guarantee compliance with commonplace procedures.
• Robotic Course of Automation (RPA): Kofax’s RPA capabilities allow the deployment of software program robots to emulate human interactions with purposes, programs, and web sites. RPA permits for the automation of repetitive and rule-based duties, liberating up human assets for extra strategic and value-added actions.
• Clever Information Extraction: Kofax’s clever information extraction capabilities leverage Synthetic Intelligence (AI) and Machine Studying (ML) to grasp and course of unstructured information, corresponding to invoices, receipts, and contracts. This helps companies extract related info precisely and effectively.
• Analytics and Reporting: Kofax gives insightful analytics and reporting instruments that supply real-time visibility into course of efficiency. Organizations can acquire precious insights into course of bottlenecks, worker productiveness, and general effectivity, enabling data-driven decision-making.

Nanonets

Nanonets is an OCR (Optical Character Recognition) software program that gives superior doc classification and extraction capabilities. It addresses the automation and doc administration wants of companies within the following methods:

• Doc Automation: Nanonets can automate doc processes like doc information seize, extraction, doc verification, doc search, doc archiving, and extra. This could scale back the time and price of handbook information entry, which will be each laborious and expensive to enter. Nanonets has a number of templates to automate doc processes, however you can too create your personal AI mannequin in lower than quarter-hour. 
• Superior Doc Classification and Extraction: Nanonets permits companies to coach and deploy machine studying fashions that precisely classify and extract info from a wide range of paperwork, corresponding to invoices, receipts, contracts, and extra. This could scale back the drudgery and time for handbook information entry, which will be each laborious and expensive to enter. Nanonets makes it straightforward for companies to construct customized fashions with out the necessity for in depth programming expertise. The platform gives a user-friendly interface to permit customers to simply outline the construction of their paperwork and specify the information that they should extract. 
• Templates and Pre-built Fashions: Nanonets gives customers with templates and pre-built fashions that may be additional personalized to suit their particular wants. For instance, companies can use pre-built fashions for bill processing after which customise them to suit their particular bill format.
• Automation: Nanonets can get rid of handbook processes and automate bill, receipt, and doc critiques. This could scale back processing time by as much as 90% and save on prices by as much as 50% 
• Pure Language Processing (NLP): Nanonets employs NLP algorithms to understand the context of the extracted information, making it able to understanding complicated and context-dependent info, resulting in improved accuracy in information extraction.
• Customizable Workflows: Customers can simply design and customise their doc processing workflows to match their distinctive enterprise wants and combine Nanonets seamlessly into present programs.
• Actual-time Collaboration: Nanonets helps real-time collaboration amongst staff members, permitting for environment friendly doc evaluation, validation, and exception dealing with, thereby lowering processing instances.

Distinctive Promoting Factors and Standout Options

Nanonets stands out within the doc automation market as a result of following causes:

• Ease of Use: The platform is designed with a user-friendly interface, enabling enterprise customers to arrange and deploy AI fashions with out requiring in depth technical experience.
• Fast Deployment: Nanonets presents fast deployment and integration, guaranteeing a sooner time-to-value for companies in search of instant automation options.
• Steady Studying: The platform is able to steady studying, that means it might enhance its accuracy over time with minimal human intervention, adapting to altering doc codecs and information sources.
• Versatility: Nanonets can deal with varied doc varieties and codecs, making it appropriate for companies in numerous industries, together with finance, healthcare, authorized, and extra.

Nanonets has garnered constructive suggestions from its customers, with many praising its accuracy, ease of use, and seamless integration capabilities. Buyer critiques spotlight how the platform has considerably decreased handbook information entry efforts, accelerated doc processing instances, and improved general operational effectivity. 

Based on critiques on G2, Nanonets helped a enterprise save nearly 300 man-hours a month proper off the bat.

Automate handbook information entry utilizing Nanonet’s AI-based OCR software program. Seize information from paperwork immediately and automate information workflows. Scale back flip round instances and get rid of handbook effort.

Pricing

• Free Trial: Nanonets presents a free trial for customers to check the software program earlier than committing to a subscription. The free trial permits customers to course of as much as 500 pages without spending a dime.
• Professional Plan: The Professional plan is priced at $499/month and contains 5,000 pages monthly. Past that, the prices are $0.10 per web page. The Professional plan contains options like auto-capture line gadgets (tables), as much as 20 fields, annotation providers, customization hours, and extra.
• Customized Enterprise Plan: Nanonets additionally presents a customized plan for enterprises with particular wants. The customized plan requires a particular quote from Nanonets to construct and worth which incorporates premium options like a devoted account supervisor, customized information retention, personalized shopper onboarding, and personalised 1:1 staff coaching. 

Discover out extra about Nanonets pricing tiers right here.

Why Select Nanonets over Kofax? 

• Ease of Use: Nanonets is thought for its user-friendly interface, which makes it straightforward for companies to construct customized fashions with out the necessity for in depth programming expertise. This could save time and assets for companies that wouldn’t have a devoted IT staff.
• Superior Doc Classification and Extraction: Nanonets presents superior doc classification and extraction capabilities, which may precisely classify and extract info from a wide range of paperwork, corresponding to invoices, receipts, contracts, and extra. This could scale back the time and price of handbook information entry, which will be each laborious and expensive to enter.
• Templates and Pre-built Fashions: Nanonets gives customers with templates and pre-built fashions that may be additional personalized to suit their particular wants. This could save time and assets for companies that wouldn’t have the experience to construct customized fashions from scratch.
• Scalability: Nanonets is a scalable answer that may deal with giant volumes of paperwork and information, making it appropriate for companies of all sizes.
• Pricing: Nanonets presents a pay-as-you-go pricing mannequin, which may course of a doc at $0.30 per web page. This may be less expensive for companies that don’t want the complete suite of Kofax merchandise.
• Ease of Integrations: Nanonets goals to supply a user-friendly and easy expertise for builders and companies. Their APIs and SDKs are designed for simple integration into purposes.

Veryfi is an AI-powered information extraction and automation platform that focuses on processing unstructured monetary paperwork corresponding to receipts, invoices, and bills. Its key options embody automated information extraction, real-time processing, information safety measures, integration capabilities, and expense and receipts administration. With superior synthetic intelligence and machine studying algorithms, Veryfi can extract related information from paperwork rapidly and precisely, eliminating the necessity for handbook information entry and streamlining accounting and bookkeeping processes.

Distinctive Promoting Factors

• Give attention to Monetary Paperwork: Veryfi is specialised in processing monetary paperwork like receipts, invoices, and bills, making it a focused answer for accounting and bookkeeping duties.
• Financial institution reconciliation: Veryfi assists with financial institution reconciliation, guaranteeing that bills are precisely recorded and accounted. 
• Job costing: Veryfi presents job costing capabilities, permitting companies to allocate bills to particular tasks or purchasers. 
• Actual-time Information Extraction: The power to extract information rapidly and precisely in real-time can considerably enhance productiveness and decision-making processes for companies.
• Consumer-Pleasant Interface: Veryfi goals to supply a user-friendly expertise, making it accessible to companies with various ranges of technical experience.

Cons

• Restricted Doc Varieties: Veryfi’s concentrate on monetary paperwork signifies that it will not be as versatile for processing different sorts of unstructured information.
• Pricing Considerations: Pricing buildings and plans won’t cater to the wants of all companies, particularly smaller companies with restricted budgets.

Pricing 

• Free Plan: This plan is completely free and permits customers to course of as much as 50 paperwork monthly. Nevertheless, it solely helps receipts and invoices as doc varieties and presents restricted options for improvement. Help is supplied by way of electronic mail solely.
• Pay As You Go Plan: Advisable for companies processing lower than 25,000 paperwork monthly, this plan requires a minimal month-to-month fee of $500. It helps all doc varieties, together with receipts, invoices, W-2s & W-9s, enterprise playing cards, and extra. Customers are billed at a fee of $0.08 per receipt and $0.16 per doc (for non-receipt varieties). Help is out there by way of electronic mail and Slack, and there are SLA (Service Degree Settlement) choices.
• Customized Plan: Designed for high-volume customers with 25,000 or extra paperwork monthly, this plan presents quantity reductions and requires contacting the gross sales staff for pricing particulars. It contains all doc varieties, all options, and extra choices like Veryfi Lens (provided at customized pricing), which is out there to all prospects.

DocParser is a doc information extraction software program that automates the method of extracting information from varied sorts of paperwork, together with PDFs and scanned recordsdata. Its key options embody information extraction automation, customizable guidelines and templates, integration capabilities, information validation and enrichment, and assist for exporting extracted information in a number of codecs.

Distinctive Promoting Factors

• Customers can create and customise parsing templates to match the construction and format of their paperwork, guaranteeing correct information extraction.
• DocParser gives information validation options to make sure the accuracy and integrity of extracted information. 
• DocParser permits customers to create and customise parsing guidelines to extract particular information fields from paperwork, offering flexibility and accuracy. 

Cons

• Lack of assist for various languages like Swedish
• A number of the parsing rule templates and filters are usually not that intuitive. It takes time to seek for an in depth description within the assist part.

Pricing

• Starter Plan: Priced at $39 monthly (billed yearly), it contains 100 parsing credit monthly. Customers can create as much as 15 totally different parsers, entry premium templates, and parse PDFs, Phrase, and picture recordsdata. They will export information to Excel, CSV, JSON, and XML, combine with Google Sheets, and entry quite a few different integrations. This plan is designed for people bored with handbook information extraction.
• Skilled Plan: Priced at $74 monthly (billed yearly), it contains all the things within the Starter plan plus 250 parsing credit monthly. Customers can create as much as 50 totally different parsers, allow multifactor authentication, and luxuriate in precedence assist and parsing entry. It’s appropriate for professionals severe about information extraction and workflow automation.
• Enterprise Plan: Priced at $159 monthly (billed yearly), it contains all the things within the Skilled plan plus 1000 parsing credit monthly. Customers can create as much as 500 totally different parsers, acquire precedence assist and parsing entry, and have entry to multi-layout parsers and parser model management. This plan is right for automating total enterprise processes with doc parsing and cloud integrations.
• Enterprise Plan: The pricing for the Enterprise plan is out there on request, permitting customers to construct a package deal tailor-made to their particular parsing necessities. It contains customized parsing credit monthly, limitless parsers, prolonged doc retention, and white labelling license.

DocParser additionally presents add-on options corresponding to Parsing Assistant for personalized parser setup and Prolonged Retention to maintain paperwork obtainable within the account for longer intervals.

Conclusion

Every of those alternate options has its distinctive promoting factors and cons, catering to totally different industries and processing necessities. Evaluating the particular wants of your group and evaluating these alternate options to Kofax will assist you to make an knowledgeable determination to optimize doc processing, increase productiveness, and streamline enterprise operations.

Companies love Nanonets—for our ease of use and for making integrating with an present stack a breeze.

Automate all of your processes with the best visibility and management.

When exploring alternate options to Kofax, one possibility stands out as a compelling alternative: Nanonets. Nanonets is an AI-powered information extraction platform that gives simplicity, effectivity, and ease of integration, making it a wonderful different for companies in search of a extra easy answer.

Whereas different alternate options could supply some further options, Nanonets focuses on simplicity, user-friendliness, aggressive pricing, and devoted buyer assist which units it aside as an distinctive different to Kofax. By leveraging the facility of AI and automation, Nanonets empowers companies to streamline their doc processing, improve productiveness, and unlock precious insights from their information, making it the only option for a lot of organizations in search of a sturdy OCR and information extraction answer.