AI is rapidly gaining traction across all facets of business operations, and data management—especially data extraction and processing—is no exception. As a result, organizations are investing in AI-powered document processing solutions to automatically ingest, extract, and analyze data from diverse sources, turning raw information into actionable insights.
Nanonets has emerged as a solid option in this space, enabling businesses to automate the data extraction process and gain insights from their data efficiently. However, as their data needs evolve, businesses seek solutions that better cater to their unique use cases. As such, many are considering alternatives to Nanonets.
A Look at Nanonets and Its Main Features
Nanonets is an AI-driven platform with data extraction and document processing capabilities. Its no-code interface allows users to automate manual data entry tasks into streamlined workflows. Some key features of the platform include:
- Automated Document Processing: Nanonets uses optical character recognition (OCR) and deep learning to automatically extract data from various documents, including invoices, receipts, and contracts.
- Intelligent Data Classification: The platform automatically categorizes and organizes data from various document types based on content, making it easily accessible and manageable.
- Flexible API Integration: Nanonets offers APIs that enable easy integration with existing business systems, including ERPs and CRMs, facilitating automated workflows and smooth data transfer.
- Data Security: Nanonets focuses on safeguarding data privacy confidentiality while adhering to compliance standards, including GDPR, SOC 2, and HIPAA.
Pricing: Nanonets provides three distinct pricing plans designed to meet the needs of different customer groups – Starter, Pro, and Enterprise. Each plan offers flexibility so businesses can choose the option that best fits their size, requirements, and budget.
Why Nanonets Alternatives Are Worth Your Attention
While Nanonets is a popular choice for many businesses, the solution has certain limitations that might prevent enterprises from unlocking the true value of their data. Here are some reasons why an organization should consider alternatives to Nanonets:
- Cost Considerations: Users have mentioned that the cost of Nanonets can be a concern, particularly for smaller businesses like accounting service providers, as it tends to be more cost-effective for larger data volumes.
- User Interface Improvements: Users noted that the UI could be made more user-friendly, especially for tasks requiring manual adjustments on certain documents.
- Setup Time for Complex Use-Cases: The initial set up can be time-consuming for more intricate use cases, requiring extra time before the system becomes fully operational.
- System Training Complexity: Users also reported that configuring the system to recognize and extract specific data from various documents is not straightforward, making it challenging to tailor it to unique needs.
Top 6 Nanonets Alternatives
1. Astera
Astera is an advanced, AI-powered data management platform that streamlines document processing with just a few clicks. Its Intelligent Document Processing (IDP) solution leverages AI to automatically extract, classify, and organize data regardless of the file type (invoices, contracts, bank statements) and format (PDF, TXT, PNG).
Key Features:
- Automatically configures layouts and mappings for various document types, enabling users to verify and adjust them for accurate processing.
- Quickly extracts relevant data fields from a variety of documents, such as invoices, claims, and contracts, without manual entry, minimizing human error and expediting the process.
- Employs advanced OCR technology to convert documents from multiple formats, including scanned images, ensuring accurate text extraction even from multi-page documents.
- Integrates large language models (LLMs) to comprehend the meaning behind the text, ensuring that information is accurately identified and categorized.
- Customizes AI models to meet specific business needs and document types, enabling organizations to input their own datasets for more precise extraction.
- Implements strong measures to protect sensitive information and adhere to regulations like HIPAA.
Pricing: Astera offers a fair and transparent pricing structure. Enterprises can contact the team for a customized quote based on their specific use case and business requirements. The platform allows the users to avail themselves of a 14-day free trial to experience the benefits it offers firsthand.
For detailed pricing information, contact Astera’s sales team to get a personalized quote.
2. Rossum
Rossum is a cloud-native document processing platform that leverages AI technology to process transactional documents from diverse sources and in various formats and layouts.
Key Features:
- Connects to various document channels, including email, scanners, PEPPOL, portals, shared drives, and SFTP/API
- Automatically splits and classifies incoming documents grouped as a single PDF into relevant queues.
- Ingests various computer-readable file formats, including JSON, XML, and UBL
- Utilizes its proprietary LLM, Rossum Auora, to accurately understand and process documents, minimizing hallucinations.
Pricing: Rossum offers four pricing packages—Starter, Business, Enterprise, and Ultimate—allowing organizations to select the option that suits their specific needs and requirements.
3. Amazon Textract
Amazon Textract is a fully managed machine learning service from Amazon Web Services (AWS) designed to extract data from a wide range of documents without any manual effort.
Key Features:
- Uses optical character recognition (OCR) to automatically detect and read printed and handwritten text in different formats.
- Identifies key-value pairs in documents while maintaining their relationships.
- Extracts relevant information from invoices and receipts using machine learning, easily adapting to various layouts.
- Retrieves specific data from documents without analyzing their structure or format.
Pricing: Amazon Textract offers a pay-as-you-go pricing model, which charges based on the number of pages processed. For organizations handling large document volumes, the pricing details are available on request.
4. Docsumo
Docsumo is an intelligent document processing (IDP) solution that automates data extraction and converts unstructured data into structured information. It allows organizations to preprocess, extract, review, and analyze data.
Key Features:
- Provides pre-trained APIs for integration, with the option to train custom AI models on user datasets if specific APIs are unavailable.
- Automatically classifies documents to ensure accurate data routing to the correct databases.
- Uses a proprietary NLP framework to categorize key-value pairs and line items effectively.
- Implements intelligent OCR that adapts to various document types, formats, and image qualities.
Pricing: Docsumo offers three pricing plans: Growth, Business, and Enterprise. Organizations can select the plan that suits their requirements.
5. DocParser
Docparser is a cloud-based solution that extracts data from various documents, including Word, PDF, CSV, TXT, and more. It offers AI-powered capabilities that allow businesses to parse data without any manual intervention.
Key Features:
- Supports various document layouts and includes pre-configured rules for data types like dates, email addresses, and invoice numbers.
- Offers the flexibility to design parsing rules specific to user requirements and provides filters for handling different document types, such as invoices and bank statements.
- Captures and organizes repeating text patterns and tables from PDFs, Word files, and images, with preprocessing options to optimize document readability.
- Provides integration capabilities with REST APIs and enables data export in formats like CSV, Excel, JSON, and XML.
Pricing: Docparser offers four pricing packages: Starter, Professional, and Business, each with listed prices and an Enterprise plan for which users can request a custom quote.
6. Klippa
Klippa is an AI-driven document processing platform that employs OCR technology to automate the data extraction process. The platform allows users to handle various documents and process additional document types on request.
Key Features:
- Supports multiple document formats, including invoices, receipts, ID cards, and passports, with options for uploads via email, phone, web, API, or FTP.
- Utilizes AI to classify documents and validate data extraction, transforming information into structured formats.
- Offers AI-powered verification solution, ensuring regulatory compliance and detecting document fraud.
- Klippa provides a user-friendly, drag-and-drop interface for workflow automation, with options for human oversight.
Pricing: To access Klippa’s pricing information, users are required to fill out a form specifying their business use case and requirements.
Why Astera is the Ideal Alternative to Nanonets
Astera sets itself apart from other Nanonets alternatives by offering a comprehensive, AI-driven data management platform that extends far beyond simple document processing and OCR capabilities. While Nanonets is highly effective for automated data extraction, Astera’s platform offers a broader set of functionalities, covering the entire data lifecycle—from extraction and integration to governance and warehousing.
Astera’s all-in-one solution enables businesses to handle structured, semi-structured, and unstructured data without having to juggle multiple tools. This integrated approach streamlines operations, making data management more efficient and cohesive. Furthermore, Astera comes equipped with an extensive library of native and custom connectors, ensuring easy connectivity to a wide range of data sources, including databases, file formats, cloud environments, and more.
Businesses can, therefore, ingest data from various sources, leverage Astera’s IDP for accurate data extraction, apply data validation and transformation rules, and store the data wherever needed. This comprehensive approach provides organizations with a complete, end-to-end view of their data assets.
To learn more about how Astera can benefit your organization, contact us today!
Authors:
- Mariam Anwar