Nanonets vs Abbyy Flexicapture
How does Nanonets compare with Abbyy Flexicapture in building your intelligent document processing workflow?
1. Cognitive extraction: Nanonets eliminates the need to create rules/layouts per vendor format and instead relies on cognitive intelligence using AI to process all your customer invoices from day 1 without any setup. The AI learns from your invoices as you process them and improves over time. Abbyy on the other hand, relies on defining templates for the different variants of the document type (say invoice for different vendors.) So in case you're working with an Enterprise for automating their invoice capture that has 100 different vendors, you need to create 100 different classes of the document.
2. Accuracy: Abbyy works only on invoice templates that it has seen and performs poorly on any unseen invoice format/layout. This requires a constant setup for new vendors. Nanonets uses advanced AI to learn the document type rather than memorise templates and thus works on even unseen formats. We tested Nanonets against Abbyy for one of our customer's 1 month worth of invoices, Nanonets beat Abbyy by over 10% in f1-score
3. Table capture: Nanonets automatically detects tables including structured row-column information within its response . Whereas on Abbyy, you need to define rules per invoice template/format for row and column border coordinates. This can easily break if the page size, borders or orientation changes.
4. Speed of processing: Nanonets uses the latest developments in browser-based web apps to provide a blitzscaling UI to process all your invoices. The intuitive UI helps speed up the invoice processing by 10x compared to Abbyy Flexicapture which is built on legacy, clunky technology which is not easy to use.
5. Ease of setup: Abbyy has a time-consuming, complex setup process requiring months to set it up, which makes the ROI of a project un-attractive. Nanonets in comparison can be integrated and setup in <1 week since you essentially can skip the training process and get started on day-1
6. Real-time support: Our 24/7 on-chat support and systems/processes in place for customer onboarding, implementation is thorough and well-defined to ensure the customers' implementation is seamless
7. Case study: Also, including a case study of one of our customers, who have used Nanonets to for their AP department digital transformation
8. Detailed comparison: Nanonets vs Abbyy Flexicapture
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