Veryfi Receipts OCR & Expenses

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Veryfi Receipts OCR & Expenses

by Veryfi, Inc.

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About Veryfi Receipts OCR & Expenses

Veryfi is an expense report solution designed to help businesses streamline processes related to receipt collection, bank reconciliation, job costing, document management and more. It provides mobile applications for Android and iOS devices, enabling professionals to capture receipts and extract relevant data using optical character recognition (OCR), artificial intelligence (AI) and machine learning (ML) technologies. Veryfi allows property investors to track the expenses and income of customers or projects and store documents in a centralized repository. Managers can schedule employees and handle clients' reconciliation, bank feed and other details on a unified platform. Additionally, accountants can secure personally identifiable information (PII) in compliance ...

Veryfi Receipts OCR & Expenses Pricing

- Unlimited document scans - Unlimited reporting & insights - Vehicle logbook tracking - Sync to clo

Starting price: 

$15.00 per month

Free trial: 

Available

Free version: 

Available

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Veryfi Receipts OCR & Expenses User Reviews

OVERALL RATING

SECONDARY RATINGS

Ease-of-use

5

Value for money

4.5

Customer support

5

Functionality

5

Showing 1 - 5 of 127 reviews

David

Chick-fil-A Madison Street

Verified reviewer

Company size: 51-200 employees

Industry: Restaurants

Time used: Less than 6 months

Review Source: Capterra

This review was submitted organically. No incentive was offered

Ease-of-use

5

Value for money

5

Customer support

5

Functionality

5

Reviewed February 2021

After a long search, I finally found this gem!

Game Changer! I was with all popular Ex******* for several years when I received an email from fbe CEO stating that anyone that did not agree with him politically was “unpatriotic” I am sure many reading this are aware of this. This disgusted me because I would not continue to do business with them after reading such an asinine statement. I was upset because other than Zoho and Concur I did think any company offered the same product with credit integration. Many that do often have a 5 user minimum which is not practical for most small businesses. For weeks I searched and demoed options. All we're either none-intuirive, offered poor support or too inferior to the app I was leaving. Somewhere I stumbled on Veryfi and after visiting the page, expected it was too good to be true. I was just waiting to read “5 user minimin” or see some red flag on it's limitations. Finding Veryfi was equal to stumbling upon a Gold ingot. Not only did it check every box I required, it truly proved that even big names line Expensify offer little time savings when it comes to reconciling recieots, expenses and creating reports. I can say this with certainty as someone that has had used the Concurs, Expensifies and Zohos of the world or many years. I thought I was happy and thought I was using the best until I tried Veryfi. I am not exaggerating when I say that it is on a different level on almost every single day.

Pros

I like the ability to integrate credit cards. Not only from the 4-5 largest banks but from hundreds of banks. This is not seen from competitors. For example, I have a Amazon Visa but also have an Amazon Store Credit card (no visa/mastercard). I also have a best buy store credit card (again only good at that business. I was floored to see that Veryfi integrated with these too!

Cons

So far, I am a couple of months last the 30 day free trial. Other than using the software have not taken the time to really customize it to my business and automate to.many tasks. No complaints this far and I hope that will stay the same.

Reasons for choosing Veryfi Receipts OCR & Expenses

For many reasons previously mentioned. Veryfi is proceed $10 more per than similar products but I did not hesitate due to the enormous value. Value is price/precieved benefit. Veryfi’s price is among the highest per single user programs but it’s value is unmatched!

Response from Veryfi

Love it! Thank you David for your lovely feedback. btw, we have volume discounts if your employees want access as well :-)

Replied June 2021

Jamie

Independent Business

Verified reviewer

Company size: 2-10 employees

Industry: Internet

Time used: Less than 6 months

Review Source: Capterra

This review was submitted organically. No incentive was offered

Ease-of-use

5

Value for money

5

Customer support

5

Functionality

5

Reviewed January 2020

Smarter, not harder

[SENSITIVE CONTENT HIDDEN], answered questions/concerns, provided 1:1 training, amazing customer support, and treated our 2 employees business like we are just as important as their big construction company clients.

Pros

Veryfi’s Intelligent OCR (Optical character recognition) made scanning over 2,000 handwritten/printed receipts simple, convenient, and accurate data extraction effortlessly.

Cons

When using the column filters or a specific date range the filter is not saved.

Alternatives Considered

Shoeboxed and Fetch Expense Reporting

Reasons for choosing Veryfi Receipts OCR & Expenses

Customer Support Simplicity of uploading receipts Accurate data extraction - including handwritten receipts Price/Cost

Response from Veryfi

Jamie, Thank you so much for the lovely feedback! I have shared it with the team and there were smiles all round. We are grateful for the lovely private note you left. Thank you again for the support! Best, Ernest (cofounder)

Replied February 2020

Jake

Accounting in Motion

Verified reviewer

Company size: 2-10 employees

Industry: Accounting

Time used: Less than 6 months

Review Source: Capterra

Ease-of-use

4

Value for money

4

Customer support

4

Functionality

4

Reviewed November 2016

Solid Optical Reading

I have not used IQBoxy for long, but I do have some clients using it to track their business expenses. They take photos of their receipts and IQBoxy converts them to digital information and syncs with Xero Accounting Software. So far, the information the software gathers from the receipts has proven to be both accurate and reliable, which is more than can be said for some other software I've used. It is able to pull the vendor name, date, amount, etc. and accurately sync it with Xero. I also like the expense reports and reminders to get your receipts entered. The expense reports can be printed from your computer to submit to your accountant or bookkeeper. The one area that I find challenging is the integration with Xero. Though it transfers information well, the workflow still requires more steps than entering a transaction. Essentially, it creates an unapproved Bill in Xero for your accountant to approve (create the bill), then record a payment (or you can use the Expense Reimbursement feature of Xero the same way). To set the account and approve the bill, then create a payment to actually hit your general ledger is more steps than just creating a spend or receive money transaction. For that reason, the integration might not be the right solution for everyone, but overall, the software is accurate and helpful for tracking business expenses and keeping your receipts organized.

Pros

Accuracy in reading receipts.

Cons

Integration steps (which may not really be unique to this software).

Response from iqBoxy

Jake, thank you for your great feedback and support. We now have web app tool for accountants & bookkeepers to manage your clients from the 1 place. Check it out => https://www.veryfi.com/accounting-practice-management/ PS. IQBoxy has a new name! VERYFI ~ Read the announcement => https://www.veryfi.com/news/iqboxy-is-now-veryfi/ Best, Ernest (cofounder)

Replied December 2017

Justin

INSTA TASK

Verified reviewer

Company size: 1 employee

Industry: Building Materials

Time used: Less than 6 months

Review Source: Capterra

This review was submitted organically. No incentive was offered

Ease-of-use

5

Value for money

5

Customer support

5

Functionality

5

Reviewed April 2021

Simple Intuitive Software that is so POWERFUL!

Well thought out software that has been designed to be as easy and efficient as possible using the technology most business owners already have at their finger tips.

Pros

This software makes financial administration so much easier and less time consuming. It is a pleasure to us and this powerful technology will make your life a lot easier and give you your time back.

Cons

There were not really any cons but it would be good to have a folder system for supplier monthly account receivable statements that can be forwarded by email directly to them if that function is not already available.

Reasons for choosing Veryfi Receipts OCR & Expenses

More features, good reviews, video tutorials and customer support.

Response from Veryfi

Thank you so much for the lovely feedback Justin! ~ Ernest

Replied June 2021

Coy

Secrets Of Nature Inc

Verified reviewer

Company size: 2-10 employees

Industry: Health, Wellness and Fitness

Review Source: Capterra

This review was submitted organically. No incentive was offered

Ease-of-use

5

Value for money

5

Customer support

5

Functionality

5

Reviewed November 2020

CEO/ President

We use the Expense management product. During our first three days, we scanned 300 receipts. We contacted support and Veryfi raised our cap to 600. We readily used the additional allocation in less than three days.

Pros

Ease of use. Out of the box solution. Implementation is extremely simple. User friendly. Our CPA firm is overjoyed! They continue to evaluate Veryfi expense management and other product offerings.

Cons

The 300 receipt limitation is bothersome for new users, but I understand Veryfi rationale.

Alternatives Considered

Xero

Reasons for choosing Veryfi Receipts OCR & Expenses

Al and Machine learning. Fast, reasonably exact.

Response from Veryfi

Coy, great feedback! Thank you so much. Re unlimited data extraction, check out the Veryfi OCR API which has no limits using per scan model. All the best! Rusty

Replied June 2021

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