The purpose of automated data extraction software is twofold:
We’ve evaluated a number of automated data extraction solutions available in the market based on the criteria defined above and compiled a list of 10 best such tools for you.
Here’s the list you’ve been looking for:-
Docsumo's data extraction software can process documents with text, tables, graphics, and barcodes. It lets you convert unstructured data into actionable information. Data can be extracted from PDF, MS Office, Word, Excel, HTML, and other file formats.
With the power of AI, Machine Learning capabilities can dramatically cut the time it takes to extract meaningful insights from unstructured data making it possible to automate routine business processes like invoicing or expense reporting.
The software supports numerous document types including invoices, purchase orders, contracts, checks, deposit slips, credit card receipts, and other business forms. With the help of an intelligent document processing solution, companies can easily automate various business processes such as invoice billing, accounts payable, or expense management by extracting data from unstructured documents at high speed and accuracy.
Closing the loop on these processes means that you can move to real-time analysis and increase productivity through automation.
Starts at $500 per month
Ocrolus is a financial document capture software backed by machine learning. The software automatically sorts bank statements, checks, bills, invoices, and other financial documents into folders based on your specific needs. This allows you to automate the tedious process of going through piles of papers and hours of video footage to identify suspicious activity or missed income.
With the proprietary machine learning algorithms, Ocrolus identifies cash flow patterns that alerts you when a customer is using credit cards or utilities beyond their means. They also identify expensive subscriptions that can be canceled without negatively impacting revenue. The system also identifies income patterns that may indicate if a customer has an undisclosed second job or additional sources of money for which we should charge fees.
Infrrd assists in big data analytics by making it easier to find patterns in large volumes of information, derive actionable insights, and make future marketing decisions based on data collected and used by businesses. It's ideal for companies with a lot of unstructured data but needs to make sense of it quickly.
It is an excellent solution for businesses that need to leverage the power of predictive analytics and make future marketing decisions based on data collected and used by them.
Starts at $2000.00 per month
Docparser is an all-in-one document management solution for small businesses and enterprises. It integrates with business systems, enterprise storage, and other cloud services to provide users with a complete and centralized solution.
Document parsing is performed using a powerful built-in text recognition engine or external OCR engine. The pre-processing capabilities include image resizing, cropping, and auto-rotation. And DocParser can also recognize barcodes and QR Codes automatically.
Data is not limited to just text. Docparser supports image extraction and processing as well, so you can easily apply image recognition algorithms to extract meaningful information from images.
Starts at $3250/ month
Rossum is the ideal solution for companies that receive transactional documents ranging from invoices, packing lists, and purchase orders to compliance notices and claims. Rossum provides a single place where all this information can be routed automatically to the proper business application (such as Salesforce or SAP) depending on the rules you define.
It is a cloud-based application that automatically organizes and processes all your incoming document traffic and allows you to connect your existing business applications, ERP, or CRM systems.
Ask for the price.
Large documents can take time for processing and result in the system crashing unexpectedly.
Integrating disparate, manual processes into a unified workflow is a challenging task. FlexiCapture does it for you and extends your business process management capabilities. This makes it easy for you to capture, classify, and extract essential information from documents such as insurance policies, invoice data, or contracts – regardless of the format or layout. This information can then be used in different workflows or connected to other systems using FlexiCapture's open API.
You can digitize any document source with ease, regardless of whether it is located in a local or remote location. ABBYY FlexiCapture's intuitive user interface allows users to quickly create new projects, set up automatic document processing modes, and configure system parameters – all without having to write any code.
From $29.99 to $299.99
Nanonets steps in where human-driven solutions fall short. They classify and extract the correct data from any document, image, or spreadsheet by leveraging advanced machine learning algorithms.
They take care of data quality issues and instantly deliver structured data in an easy-to-use dashboard, so you can get back to the things you love doing most, like launching new products and serving your customers.
Starts at $499
Capturefast is one of the most intelligent document recognition software for complex documents. It can recognize data from various sources and transfer them to preferred business applications through multiple interfaces. With its powerful features, data extraction from complex documents can be achieved with no coding required.
Starts at $69.00 per month.
Kofax delivers Automated Document Capture (ADC) solutions you need to capture, manage and analyze documents across your enterprise—faster than ever before. The intelligent capture software and solutions give you the power to streamline processes, improve accuracy and make better decisions. They help you achieve more with less.
The customers rely on Kofax because they are trusted partner who understands their business needs and delivers products that exceed expectations. They provide exceptional customer service, training, and support to provide real value for our partners.
Starts at US $3,500
Hypatos is a document processing API that uses deep learning to automate office documents and forms workflows. Developers can use Hypatos to integrate with their existing systems or any company of any size to unlock the total value of their data.
Hyperautomation is the concept of autonomously generating, collecting, and processing documents. Hypatos enables the Automation of document production in a matter of minutes and provides a full-stack, from document design to data collection, all the way to data processing. The autonomous generation of documents dramatically reduces time-to-market for new services.
Starts at $1500/month.
Data extraction tools have various uses, from marketing campaigns to data mining. They can help you get the most out of your data by identifying potential trends and relationships within that data.
Trying to select the right tool for your needs is difficult when you're dealing with a wide range of options. Some are geared towards marketing, others at research and data mining. To make sure you select the right tool, you'll need to weigh several factors:
There are a lot of document processing solutions out there, but not all of them can handle the challenging workloads that go beyond the primary use cases. If you are looking for a solution to automate your business processes and convert unstructured data into actionable information, consider these key benefits:
Docsumo's intelligent document processing solution allows you to automate various business processes such as invoice billing, accounts payable, expense management, or contract management by having the software read and extract critical data for you at high speed and accuracy.
In today’s dynamic business world, filing and archiving official documents in the digital form makes it handy, and works wonders in the future or in unforeseen circumstances.
In this blog, we gather collective insight into industry-best OCR software and draw a comparison. We're not trying to determine the best OCR solution in the industry but help you familiarize you with different features of most-popular automated data extraction solutions and help you find the most suitable one for you.
In this blog, we focus on invoice data capture using fast driven technologies like OCR and Artificial Intelligence and help businesses to find faster ways to capture data from invoices and reduce manual efforts. By the end of the article you’d be able to figure out the better algorithm to process invoice data.
Despite dedicating a whole lot of resources to manual data extraction for businesses, it could result in slower turn-around time, especially if the number of documents processed per month is simply too high. There’s always the angle of ‘human error’ involved with manual document processing. So, if you’re trying to automate data extraction for your business but you cannot find a vendor to help you with, this article is for you.