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What is Nanonets?
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Nanonets is an AI-driven solution that automates document processing and data extraction workflows. Nanonets helps businesses automate document-heavy business processes like accounts payable, order processing, and insurance underwriting. Leveraging advanced Optical Character Recognition (OCR) and deep learning models, Nanonets processes unstructured documents such as invoices, receipts, POs, bank statements, bills of lading, contracts, insurance claims, and healthcare forms and converts them into structured output that can be fed into downstream systems.
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-Handles various invoice formats without requiring predefined templates -The automated approval workflows are intuitive to configure and have eliminated bottlenecks that previously delayed payments
Using this product has allowed us to process thousands more documents than we would have been able to otherwise. Also, the customer service is fairly quick and helpful.
- Invoice extraction accuracy with human review wherever confidence is low - Approvals from email inbox and Slack
-While Nanonets offers extensive integration options, we experienced some compatibility issues with our accounting software that required custom workarounds. -Customer support could be a little more proactive in getting back to us
1. The processing speed of the platform seems to vary wildly. Sometimes, it will fly through 200 documents, and sometimes it seems to take 10 minutes to go through <50 docs. 2. The product has broken at inopportune times. Our clients rely on speed of service, so delays due to the product breaking has been a source of frustration at times. 3. Sometimes due to most of the staff being located overseas, response is not immediate to an issue although we are typically happy with the help when we receive it.
- Pricing is too complex - especially for someone starting off - No payment module