This article includes a comprehensive guide to assist you in choosing the best invoice parsing provider for your needs among the numerous options available.
Navigating the various invoice parsing providers and understanding their unique offerings can be challenging, but this guide aims to simplify the selection process and provide you with the information you need to make an informed decision, saving you time and effort:
OCR invoicing refers to the process of using Optical Character Recognition (OCR) technology to automate the extraction of information from invoices.
This technology scans and converts the text in an image or PDF of an invoice into machine-readable text, which can then be analyzed by software that uses pattern recognition and machine learning algorithms to identify and extract relevant information such as the invoice number, date, vendor name, items and prices listed on the invoice.
Then, the extracted data can be exported to accounting or inventory management systems for further processing, reducing the need for manual data entry and increasing efficiency in accounting and financial operations.
You can use invoice parser in various applications:
Invoice parsing can be used in a wide range of companies and industries, some examples include:
There are many providers in the OCR invoicing market, both large and small, that offer various strengths and weaknesses: Base64, Microsoft, Affinda, Veryfi, Mindee, Google, Amazon, Rossum, Klippa, Natif AI, Sypht, Abbyy, Dataleon, Nanonets, etc.
It can be challenging to navigate the many invoice parser providers and understand their unique offerings.
That's why Eden AI's AI experts have created an ultimate guide to help you make an informed decision and save time when selecting a supplier. The guide is divided into four aspects:
This guide was created by Eden AI's experts in collaboration with participating providers. It includes all of the necessary technical information for choosing an invoice parsing supplier. Eden AI maintains a neutral stance and does not have any interest in promoting one supplier over another.
Here are some examples of the types of information that can be extracted in an invoice parsing API response:
The types of fields returned by an invoice parsing API can vary depending on the provider and the specific API. However, some common fields that are typically returned by invoice parsing APIs include:
Please note that the list of returned fields can vary between providers and different APIs. Some providers might have additional fields or different formats of data that are returned by the API.
Parse invoices from all over the world: Many invoice parser APIs support a wide range of languages.
Some providers may have a particular focus on certain regions or language groups, such as Asian languages, African languages, or European languages, while others may offer more comprehensive coverage.
Most of the invoice parser APIs support standard invoice file formats such as PDF, Microsoft Word (DOC and DOCX), Plain Text (TXT), HTML, XML, RTF.
For more specific use cases you might need to process your invoice with specific formats: ppt, odt, ods, jpg, rar, xlsx, tiff, gif, etc.
It's important to note that some invoice parser APIs may have specific requirements for the formatting of these file types, such as the use of certain fonts or layout conventions, in order for the parsing process to be successful.
It's also possible that some APIs only support one format or a few of the above-mentioned formats.
Using invoice parser with Eden AI API is quick and easy.
We offer a unified API for all providers: simple and standard to use, with a quick switch that allows you to have access to all the specific features very easily (invoice language/country automatic detection, multiple pages invoices, etc.).
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.
With Eden AI you have the possibility to integrate a third-party platform: we can quickly develop connectors. To go further and customize your invoice parser request with specific fields to extract, check out our documentation.
Eden AI is the future of invoice parser usage in companies. Eden AI allows you to call multiple invoice parser APIs and handle all your document issues. You can use Eden AI invoice parser to access all the best APIs in the market with the same API.
The Eden AI team can help you with your invoice parser integration project. This can be done by:
You can directly start building now. If you have any questions, don't hesitate to schedule a call with us!Get started