New Product Introductions: Summer 2024

Sun’s out, smiles out! Summer’s here, and with it comes a season of sizzling success for your business. Don’t let data drown in the summer shuffle, Veryfi’s new summer tools can turn it into a profitable truffle!

Aloha, Accuracy! Veryfi’s Data Extraction Performance Tool

Curious how well Veryfi extracts data from your documents? Our new tool lets you easily measure performance against different model releases. Just set up a few baseline documents and see the magic happen! Try out the tool in your API Portal!

Learn more:?

Improving Accuracy Through Model Training

What affects data extraction accuracy?

Summer Schemes Exposed! Veryfi Busts Receipt Scammers

Introducing a powerful capability that busts fraud: Veryfi Fraud Intelligence. Building on our duplicate detection capability, this product is designed specifically for loss prevention. By identifying and mitigating fraudulent activities in real-time, our Fraud Intelligence protects your business and ensures the integrity of your data.

Processing hundreds of millions of transactions annually, Veryfi uses proprietary tech to flag all types of fraud from receipts and invoices. From identifying doctored totals to spotting manipulated photos, Veryfi Fraud Intelligence is the most advanced extension to Veryfi’s data extraction APIs. Check out the graphic below to see the fraudulent fields in a receipt that are reliably detected by the Fraud Intelligence. Once a fraud field is flagged, processing of that document is immediately halted to prevent the business from incurring any losses.

Can you spot the fraud fields inside this receipt?

Veryfi Fraud Intelligence ingeniously checks for every out-of-policy rule, redundancy, and handwritten field to ensure that anything fishy gets flagged and gets document processing halted.

A recent success: Veryfi powered a loyalty program of a well-known donut conglomerate that’s loved by millions of users. We validated every receipt and caught fraud such as photoshopped totals and suspicious transaction patterns. The result? Precise data collection and secure, closed-loop data extraction that keeps stopping all harmful cases of fraud. Stop losing money to scammers now!

Want to try this out? Reach out to [email protected] for a fancy demo.

Beach Days, Not Bill Piles! Upload Documents in Bulk

This summer, let Veryfi give you more time back! We’re empowering our customers to upload receipts and invoices in bulk, helping them streamline workflows and save time. The robust API handles multiple documents at once, so you can focus on closing the books:?

• Simply provide a list of URLs to your documents, and Veryfi handles the rest.
• Bulk upload feature ensures faster turnaround times by giving you immediate, transparent access to extraction results.?

Ready to dive in? Check out the Bulk Upload Feature’s API Documentation to see its ease of integration. Contact [email protected] when you’re ready to start using it.?

No-code Business Rules Automation

Business Rules Automation automates and enhances document post-processing by applying customizable conditions and actions. Running on top of Veryfi OCR API for receipts and invoices, it allows you to define sophisticated logic to validate, transform, and enrich extracted data.

It’s as simple as 1, 2, 3:?

1. Define “Conditions” to specify which data fields to inspect and what to look for by +Adding Rule
2. Apply “Actions” to trigger associated actions like updating fields or tagging documents?
3. Deploy and iterate to continuously optimize your business processes

Try out the tool in your API Portal > Data Transformations > Rules: HERE

Why are businesses adopting this?

Automate manual tasks to handle larger volumes of data and transactions without increasing staff or processing bandwidth. This helps businesses more rapidly develop and deploy new products and services, offer advanced solutions to attract more clients, automatically flag suspicious transactions and ensure compliance, reduce human errors, speed up document processing, provide real-time updates to improve customer satisfaction, and free up staff for strategic initiatives. Business Rules Automation drives revenue growth and scales your unique business without the guesswork.

?Docs OCR Featuring Wider Selection of Blueprints

Excited to announce that the list of ?Docs blueprints has been expanded and are available for immediate use. This update means that a wider range of documents with unique fields are supported out of the box, including: shipping labels, prescription medication labels, incorporation documents, and vendor statements. You can explore and utilize these new capabilities directly within your Veryfi API Portal, making it easier than ever to handle diverse document types with precision and efficiency. Upload in bulk or submit a PDF containing individual documents.

01 Drag & Drop your documents by tapping +Collect.?

02 Select which blueprint(s) you want to use.

03 To see extraction performance results pertaining to a specific document, click into the Document Details View then go into the JSON tab to see how extraction performed.?

Wazzaaaap? Your Receipts Want to Chat on WhatsApp!?

CPGs like PepsiCo are integrating Veryfi’s WhatsApp Chatbot into their user experience tech stack. Veryfi’s WhatsApp Chatbot provides an elevated rewards redemption experience to users, by making it much simpler for users to (1) redeem rewards, (2) participate in loyalty programs, and (3) receive updates from the brands themselves.?

The WhatsApp chatbot integration with Veryfi provides a robust solution for CPG brands in LATAM to increase customer loyalty through a two-way communication platform that reaches 99% of LATAM customers. Additionally, it offers a secure and faster method for expense management, allowing customers to send receipts to their expense management apps more efficiently than through SMS.

By strategically integrating with a solution that packages the best of Veryfi OCR behind the well-loved and nifty communication app (WhatsApp), brands gain access to WhatsApp’s massive global user base and the potential to turn it into loyal brand followers. This means 2 billion individual opportunities for communicating and deepening relationships with customers.

Stay tuned for more juicy news and product launches. In the meantime, explore the Veryfi Resources Hub for valuable information on OCR trends, the next possibilities for data extraction amidst the AI boom, and other fun articles like this one where our senior developer reflected on the overlappings between coding and making music. Exciting discoveries await you.

Ready to transform your business with Veryfi OCR and document capture solutions? Contact us today to begin your journey. Check out Veryfi YouTube for how-tos, demos, and more resources.