Receipt Parsing API allows users to extract structured data from receipts using machine learning and natural language processing (NLP) techniques. The API takes an image of a receipt as input and uses OCR (Optical Character Recognition) technology to recognize the key information on the receipt, such as the merchant name, date of purchase, item descriptions, prices, and taxes.
The extracted data can be used for various purposes, such as accounting, expense tracking, and inventory management.
Receipt Parsing can be used to automatically extract data from receipts, and categorize expenses, helping streamline processes, save time, and reduce the risk of errors. This technology has the ability to automate a wide range of tasks in different fields (Tax Preparation, Accounting, Supply Chain Management, Retail, etc.) depending on the specific needs of the industry.
While comparing Receipt Parsers, it is crucial to consider different aspects, among others, cost security and privacy. Receipt Parser experts at Eden AI tested, compared, and used many Receipt Parsing APIs of the market. Here are some actors that perform well (in alphabetical order):
Affinda's Receipt Parser API offers a cutting-edge solution for extracting and processing data from receipts. Leveraging advanced optical character recognition (OCR) and machine learning technologies, Affinda's API accurately captures and interprets key information from receipts, such as merchant details, transaction amounts, dates, and itemized lists of purchases. This enables businesses and developers to automate expense tracking, streamline accounting processes, and gain valuable insights from receipt data. Affinda's Receipt Parser API is designed for seamless integration into various applications and platforms, providing a user-friendly and efficient solution for receipt data extraction and analysis.
AWS's Receipt Parsing API leverages advanced machine learning techniques to accurately extract key information from a wide variety of receipt types. It is designed to handle large volumes of receipt data, making it suitable for both small-scale applications and enterprise-level systems. AWS offers high availability, ensuring reliable and uninterrupted access to the service, while also providing automatic scaling to accommodate varying workloads. Furthermore, AWS provides a secure environment for processing sensitive receipt data.
Using highly advanced machine learning algorithm, the API is able to accurately parse receipts from a variety of sources, including paper receipts, digital receipts, and receipts with complex formatting. Additionally, the API is easy to integrate into existing workflows and can help businesses save time and reduce errors associated with manual data entry.
Dataleon’s solution offers a high level of accuracy and real-time receipt management for data extraction capabilities. The API is easy to use, allowing businesses to extract data from a wide range of receipt formats, including manuscript receipts. Additionally, the API offers a customizable solution, allowing businesses to choose the fields they want to extract, making it a versatile solution for a range of industries.
Google Cloud offers a powerful Receipt Parser API that leverages machine learning technology to extract data from receipts with high accuracy. It can handle a variety of receipt formats, including handwritten receipts. Furthermore, Google Cloud's API offers customizable solutions, allowing businesses to extract specific data fields based on their needs. The API's powerful image recognition technology ensures that businesses can extract data accurately, even from poorly scanned receipts.
Klippa leverages machine learning technology to automate many receipt-related business processes. The API provides a range of benefits for its Receipt Parser, such as format conversion and scan quality improvement, as well as the ability to convert the image of the receipt into text and JSON using OCR technology. Klippa's solution also offers classification of receipts and line items, which helps to streamline the analysis, storage, and archiving of important data for businesses. Finally, it offers (cross) validation of receipt data, ensuring that the data is accurate and reliable.
Azure offers a powerful Receipt Parsing API through the Form Recognizer receipt model, which leverages OCR capabilities and deep learning models to analyze and extract information from a wide range of receipt formats and qualities, including printed and handwritten receipts. The API can accurately extract key information such as merchant name, phone number, transaction date, tax, transaction total, and return the data in structured JSON format. This makes it easy for businesses to integrate the extracted data into their existing systems and workflows.
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Mindee's Receipt Parser API is a state-of-the-art solution that combines the latest advances in computer vision and NLP to extract data from receipts accurately and efficiently. Mindee focuses on creating a seamless user experience with their interactive UI components. By turning documents into user-friendly interfaces, Mindee maximizes customer satisfaction and ensures that the data extraction process is smooth and effortless. Furthermore, Mindee's API is production-ready, enabling optimized web and mobile rendering features to be integrated quickly into any application. Finally, Mindee's inference pipeline is lightning-fast, enabling real-time data extraction with ease.
Rossum provides a comprehensive solution for processing receipts and other documents. The API provides pre-processing capabilities that allow for automatic ingestion, processing, deduplication, and routing of documents to the appropriate queue. It also includes validation features that can accelerate manual review of data capture outputs with ergonomic UI and robust workflow rules.
Another advantage of Rossum's API is its ability to learn and improve over time, thanks to its advanced machine learning algorithms. This ensures that the API can continually adapt to new receipt formats and accurately extract data, even as receipt designs evolve.
TabScanner's Receipt Parser offers intelligent data capture with an AI that understands receipt fields at human levels of intelligence. The Lightning-Fast Cloud API processes all data fields from a POS receipt in under 2 seconds, while returning highly accurate results with 98% accuracy on core data.
TabScanner's technology can extract line item data from any POS receipt in the world, from any language and character. The feature set includes regional parameters, ongoing machine learning for data refinement, format configurations, providing flexible subscription options for high-volume users.
Taggun provides a fast and easy-to-use solution for businesses seeking a reliable receipt data extraction tool. Supporting multiple languages and offering a 5-second response time, Taggun's API also guarantees 90% accuracy in data extraction. Providing a developer-friendly RESTful API, the web services require no setup while accepting various file types, including JPG, PDF, PNG, GIF, and URLs of a file. Taggun's machine learning model can automatically detect the language on the receipt, convert the image to plain raw text, and classify keywords on the receipt. The results are returned in detailed JSON format, ready to be consumed by the user's app.
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Verify's API uses state-of-the-art machine learning models to accurately recognize and extract information from receipts, ensuring high accuracy and reducing the need for manual data entry. The solution is highly customizable and can be tailored to fit the specific needs of individual businesses. This means that users can easily integrate the API into their existing workflow and optimize it to meet their unique requirements. The API is also scalable, reliable, and easy to use, making it a top choice for businesses of all sizes looking to streamline their receipt processing workflows.
For all companies who use Receipt Parser in their software: cost and performance are real concerns. The Receipt Parser market is quite dense and all those providers have their benefits and weaknesses.
Performances of Receipt Parsers vary according to the specificity of data used by each AI engine for their model training
Receipt Parser APIs perform differently depending on the language of the text. Different specificities exist:
When testing multiple Receipt OCR APIs, you will find that providers' accuracy can be different according to text quality. For example, some Receipt Parsing APIs may perform well on handwritten text while others may perform better with digital text.
Companies and developers from a wide range of industries (Social Media, Retail, Health, Finances, Law, etc.) use Eden AI’s unique API to easily integrate Receipt Parser tasks in their cloud-based applications, without having to build their own solutions.
Eden AI offers multiple AI APIs on its platform amongst several technologies: Text-to-Speech, Language Detection, Sentiment Analysis, Receipt Parser, Question Answering, Data Anonymization, Speech Recognition, and so forth.
We want our users to have access to multiple Receipt Parser engines and manage them in one place so they can reach high performance, optimize cost and cover all their needs. There are many reasons for using multiple APIs :
Eden AI is the future of AI usage in companies: our app allows you to call multiple AI APIs.
You can see Eden AI documentation here.
The Eden AI team can help you with your Receipt Parser integration project. This can be done by:
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