We are pleased to announce that Veryfi's OCR API technology has been integrated into Eden AI API.
What is Veryfi?
Veryfi is a powerful cloud-based platform that provides automated data extraction and document management solutions. Using advanced OCR technology, Veryfi supports various data fields and document types. With features such as expense tracking and mobile app document capture capabilities, Veryfi is a user-friendly, mobile-optimized solution for businesses of all sizes.
Why do we offer Veryfi in addition to other OCR APIs?
Eden AI offers Veryfi OCR solutions on its platform amongst several other technologies. We want our users to have access to multiple AI engines and manage them in one place so they can reach high performance, optimize cost and cover all their needs.
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There are many reasons for using multiple AI APIs :
Fallback provider is the ABCs.
You need to set up an AI API that is requested if and only if the main AI API does not perform well (or is down). You can use the confidence score returned or other methods to check provider accuracy.
Performance optimization.
After the testing phase, you will be able to build a mapping of AI vendors' performance that depends on the criteria that you chose. Each data that you need to process will be then sent to the best API.
Cost - Performance ratio optimization.
This method allows you to choose the cheapest provider that performs well for your data. Let's imagine that you choose Google Cloud API for customer "A" because they all perform well and this is the cheapest. You will then choose Microsoft Azure for customer "B", a more expensive API but Google performances are not satisfying for customer "B". (this is a random example)
Combine multiple AI APIs.
This approach is required if you look for extremely high accuracy. The combination leads to higher costs but allows your AI service to be safe and accurate because AI APIs will validate and invalidate each other for each piece of data.
Interview with Veryfi Sales Director
We had the chance to talk to Veryfi Sales Director, Neil Grant, who agreed to answer some of our questions:
Can you introduce Veryfi?
Veryfi is on a mission to eliminate manual data entry. Founded in 2017 by a duo of Silicon Valley technology pioneers, both of whom had family members working as bookkeepers, the company has developed advanced software to overcome tedious, costly, and error-prone manual business processes.
What does Veryfi provide to customers (APIs, Saas, languages, open source, etc.)?
Veryfi aims to replace manual data entry with its fast, accurate, and secure AI-driven data extraction platform, instantly transforming documents into valuable structured data. The company’s OCR API Data Extraction Platform and Mobile Capture framework help increase productivity, eliminate human error, grow customer loyalty and revenue, and unlock valuable business insights.
Specializing in financial documents like Receipts, Invoices, and Purchase Orders while supporting the extraction of 110+ Data Fields, 85 Currencies, and 38 languages, Veryfi’s pre-trained AI technology delivers Day 1 Accuracy™ and immediate time-to-value for hundreds of companies globally.
Who are your customers? For which areas are Veryfi services intended?
FinTech software providers incorporate the Veryfi OCR API Platform and Lens Mobile Capture Framework technology within Billpay and Spend Management applications.
Loyalty Marketing organizations leverage Veryfi to turn consumer receipts into valuable insights, powering rewards and loyalty platforms.
Accounts Payable Automation providers use Veryfi to gain efficiency and improve data entry accuracy as part of their intelligent automation workflows.
Why did you decide to be integrated in Eden AI?
Veryfi is excited to partner with Eden AI due to their unique approach, focusing on making AI applications available to a broad audience by simplifying access to high-performance technologies.
How to use Veryfi on Eden AI?
You'll need some documentation to use Veryfi’s OCR technologies on Eden AI. Then call the API:
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Eden AI is a must-have
Eden AI is the future of AI usage in companies. Our platform not only allows you to call multiple AI APIs but also gives you :
Centralized and fully monitored billing for all AI APIs
A unified API for all providers: simple and standard to use, quick switch between providers, access to the specific features of each provider
Standardized response format: the JSON output format is the same for all suppliers thanks to Eden AI's standardization work. The response elements are also standardized thanks to Eden AI's powerful matching algorithms.
Best Artificial Intelligence APIs of the market: big cloud providers (Google, AWS, Microsoft, and more specialized engines)
Data protection: Eden AI will not store or use any data. Possibility to filter to use only GDPR engines.
You can see Eden AI documentation here.