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 with the Health Insurance Portability and Accountability Act (HIPAA) and General Data Protection Regulation (GDPR) standards. Veryfi is available on monthly or annual subscriptions and support is extended via live chat, email, video tutorials, documentation and FAQs.
Veryfi Receipts OCR & Expenses Software - Veryfi expenses
Veryfi Receipts OCR & Expenses Software - Veryfi create expense report
Veryfi Receipts OCR & Expenses Software - Veryfi reports
Veryfi Receipts OCR & Expenses Software - Veryfi documents
Veryfi Receipts OCR & Expenses Software - Veryfi bank account transactions
Veryfi Receipts OCR & Expenses Software - Veryfi bank feeds
Veryfi Receipts OCR & Expenses Software - Veryfi expenses - thumbnail
Veryfi Receipts OCR & Expenses Software - Veryfi create expense report - thumbnail
Veryfi Receipts OCR & Expenses Software - Veryfi reports - thumbnail
Veryfi Receipts OCR & Expenses Software - Veryfi documents - thumbnail
Veryfi Receipts OCR & Expenses Software - Veryfi bank account transactions - thumbnail
Veryfi Receipts OCR & Expenses Software - Veryfi bank feeds - thumbnail

Veryfi Receipts OCR & Expenses pricing

Veryfi Receipts OCR & Expenses has a free version and offers a free trial. Veryfi Receipts OCR & Expenses paid version starts at US$500.00/month.

Starting Price:
US$500.00/month
Free Version:
Yes
Free trial:
Yes

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Veryfi Receipts OCR & Expenses Reviews

Feature rating

Value for Money
4.6
Functionality
4.8
Ease of Use
4.8
Customer Support
4.8
5 reviews of 151 View all reviews
Theo
  • Industry: Graphic Design
  • Company size: 2-10 Employees
  • Used Daily for 6-12 months
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 3/8/2018

Veryfi review from Theo

Really good experience. Much, much happier than my previous service (SquirrelStreet). Their prices kept creeping up, and we would only know our final cost after the processed. Also if we were a few days late, we would still pay the minimum fee for the month and then get whacked with a huge surcharge—that doesn't happen with veryfi.

Pros

Cost, ability to hold backup files in Dropbox or Google Drive. Instant review and verification,

Cons

Not much. Yes I have to verify each transaction, and sometimes correct, but then I know that the information is there ready to use and accurate—no waiting a few weeks and hopping it was done correctly. It's a con which turns into a pro!
On some surfaces the auto detect doesn't work correctly or randomly. especially at Coles self serve checkouts. I tend to have auto detect off and then sometimes crop the image to reduce file size.

Robert
  • Industry: Industrial Automation
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 17/8/2021

Indispensable

Pros

Point of Sale disposition of bookkeeping chores. Finished before I hit the door.

Cons

I can't resist getting into conversations with random people when they see me use it.

Response from Veryfi

Robert, Love your feedback! Thank you so much for your support.

PS. Don't forget to use your code in the referral program (https://hub.veryfi.com/referrals/) so we can credit your account for every user you share Veryfi with

Best,
Ernest

Replied 1/9/2021
Jake
  • Industry: Accounting
  • Company size: 2-10 Employees
  • Used Weekly for 1-5 months
  • Review Source
Value for Money
4
Features
4
Ease of Use
4
Customer Support
4

4
Reviewed on 11/11/2016

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 7/12/2017
Coy
  • Industry: Health, Wellness & Fitness
  • Company size: 2-10 Employees
  • Used Daily for Free Trial
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 14/11/2020

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 Switching to 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 2/6/2021
Jamie
  • Industry: Internet
  • Company size: 2-10 Employees
  • Used Daily for 1-5 months
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 9/1/2020

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

Zoho Desk and Shoeboxed

Reasons for Switching to 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 27/2/2020

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