Receipt Parser is a technology that extracts and digitizes meaningful data from scanned or PDF receipts using OCR (Optical Character Recognition). It automates the process of scanning receipts and extracting information, allowing businesses to collect data faster and more efficiently compared to manual data entry. Common fields captured by receipt OCR include item descriptions, quantities, prices, merchant information, dates, and total amounts.
By automating the extraction of data from receipts, companies can streamline their workflows, reduce errors, and gain valuable insights into their spending and purchasing habits.
For users seeking a cost-effective engine, opting for an open-source model is recommended. Here is the list of the best Receipt Parser Open Source Models:
Tesseract is a highly versatile open-source OCR engine that can be adapted for receipt data extraction. With the right training and configuration, it can serve as a powerful tool for developers looking to build their own receipt parser solutions. Tesseract includes a neural net (LSTM) based OCR engine, which improves its performance on line recognition. It also supports legacy modes for compatibility and performance tuning. Tesseract's ability to be trained with additional data makes it highly adaptable for specialized tasks like receipt parsing.
Apache Tika is an open-source content analysis toolkit that can extract text from various document formats. By leveraging its OCR capabilities, developers can extract text from images of receipts and then apply custom parsing logic to structure the data. Tika provides a more straightforward integration for developers who are familiar with Java and content analysis, making it relatively easy to use in projects. Tika's broad support for different file types and its ability to extract metadata make it versatile, though additional customization might be needed for optimal receipt data extraction.
OCR.space, although not an open source model, offers a FREE OCR API that provides a straightforward method for parsing images and multi-page PDF documents to get the extracted text results in a JSON format. It supports a rate limit of 500 requests per day per IP address, making it a generous option for developers looking to integrate OCR capabilities without incurring costs. The API provides decent accuracy for general OCR tasks and supports output in JSON format, which is useful for developers. As an API, OCR.space is very easy to integrate into applications, requiring minimal setup and offering a straightforward method for OCR tasks.
Although open-source AI models offer numerous benefits, they also present certain drawbacks and hurdles. Here are some disadvantages of utilizing open-source models:
Given the potential costs and challenges related to open-source models, one cost-effective solution is to use APIs. Eden AI smoothens the incorporation and implementation of AI technologies with its API, connecting to multiple AI engines.
Eden AI presents a broad range of AI APIs on its platform, customized to suit your needs and financial limitations. These technologies include data parsing, language identification, sentiment analysis, logo recognition, question answering, data anonymization, speech recognition, and numerous other capabilities.
To get started, we offer free credit for you to explore our APIs.
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Our standardized API enables you to integrate Receipt Parser APIs into your system with ease by utilizing various providers on Eden AI. Here is the list (in alphabetical order):
Affinda's Receipt Parser API employs cutting-edge optical character recognition (OCR) and machine learning algorithms to automate the extraction of key data from receipts. By accurately capturing details like merchant information, transaction amounts, dates, and itemized purchases, the API enables businesses to streamline expense tracking, accounting processes, and gain valuable insights from receipt data. Affinda's solution is designed for seamless integration into various applications, providing an efficient and user-friendly interface for managing receipt data extraction and analysis.
AWS's Receipt Parsing API leverages advanced machine learning to intelligently parse and extract data from a wide variety of receipt formats. Designed to handle large volumes of receipt data, the API is suitable for both small-scale applications and enterprise-level systems. AWS ensures high availability, reliable access, and automatic scaling to accommodate fluctuating workloads. Additionally, AWS provides a secure environment for processing sensitive receipt data, giving businesses peace of mind.
Base64's Receipt Parser API utilizes state-of-the-art machine learning algorithms to automate the extraction of data from paper receipts, digital receipts, and receipts with complex formatting. The API's user-friendly design allows for seamless integration into existing workflows, helping businesses save valuable time and reduce errors associated with manual data entry.
Dataleon's Receipt Parser API delivers a high level of accuracy and real-time receipt management for data extraction. The API's intuitive interface enables businesses to extract data from a diverse range of receipt formats, including handwritten receipts. Dataleon's solution offers a customizable approach, allowing businesses to select the specific fields they want to extract, making it a versatile option for various industries.
Google Cloud's Receipt Parser API leverages machine learning to extract data from receipts with unparalleled accuracy, even handling handwritten receipts. The API's customizable solutions enable businesses to extract specific data fields tailored to their needs. Google Cloud's powerful image recognition technology ensures accurate data extraction, even from poorly scanned or low-quality receipts.
Klippa's Receipt Parser API automates numerous receipt-related business processes using advanced machine learning. It offers features such as format conversion, scan quality improvement, and the ability to convert receipt images into structured text and JSON formats using OCR. Klippa's solution also provides receipt and line item classification, streamlining data analysis, storage, and archiving. Additionally, it offers cross-validation of receipt data, ensuring accuracy and reliability.
Azure's Receipt Parsing API, powered by the Form Recognizer receipt model, combines OCR and deep learning to intelligently analyze and extract information from a wide range of receipt formats and qualities, including printed and handwritten receipts. The API accurately captures key details like merchant name, phone number, transaction date, tax, and total, returning the data in structured JSON format for seamless integration into existing systems and workflows.
Mindee's Receipt Parser API represents the pinnacle of computer vision and natural language processing (NLP) technologies, delivering unparalleled accuracy and efficiency in extracting data from receipts. Mindee prioritizes user experience, offering interactive UI components that transform documents into intuitive interfaces, maximizing customer satisfaction and ensuring a smooth data extraction process. Mindee's API is production-ready, enabling optimized web and mobile rendering features to be quickly integrated into any application. The API's lightning-fast inference pipeline enables real-time data extraction with ease.
TabScanner's Receipt Parser offers intelligent data capture powered by 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, delivering highly accurate results with an impressive 98% accuracy on core data. TabScanner's technology can extract line item data from any POS receipt worldwide, regardless of language or character set. The feature set includes regional parameters, ongoing machine learning for data refinement, format configurations, and flexible subscription options for high-volume users.
Veryfi's API represents the pinnacle of machine learning technology, employing state-of-the-art models to accurately recognize and extract information from receipts, significantly reducing the need for manual data entry. The highly customizable solution can be tailored to fit the specific needs of individual businesses, allowing for seamless integration into existing workflows and optimization to meet unique requirements. Veryfi's API is designed for scalability, reliability, and user-friendliness, making it a top choice for businesses looking to streamline their receipt processing workflows.
Eden AI offers a user-friendly platform for evaluating pricing information from diverse API providers and monitoring price changes over time. As a result, keeping up-to-date with the latest pricing is crucial. The pricing chart below outlines the rates for smaller quantities for December 2023, as well as you can get discounts for potentially large volumes.
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You can see Eden AI documentation here.
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