Question: Can you recommend a solution that automates data extraction from invoices and contracts?

For extracting data from invoices and contracts, Cradl AI is a top contender. This document automation tool uses AI to extract data from unstructured documents and can be integrated with no-code tools. It offers features like multilanguage support, line item extraction and automatic retraining, which makes it suitable for tasks like invoice processing and contract data extraction. Cradl AI also places a priority on security and compliance, hosting on AWS and offering a large library of templates to get you started with common document types.

Another top contender is Parsio, which uses AI and OCR technology to extract structured data from unstructured documents. With a 5-minute setup, Parsio can handle a wide range of document types and export data to destinations like Google Sheets and CRM systems. It integrates with tools like QuickBooks and Cloud Storage, has multilanguage support and no-code requirements, making it a great way to increase productivity by automating data extraction.

Nanonets is another option. This AI-powered platform extracts insights from unstructured data across multiple sources, including documents and emails. It offers advanced data extraction without templates and smart decision engines for efficient review and validation. Nanonets can increase accuracy and speed processing, making it a good option for industries like finance, manufacturing and healthcare, where automating tasks like accounts payable is important.

For a more developer-centric approach, Sensible offers an API-first document processing platform that can be easily integrated into existing applications. With sophisticated parsing technology and a large library of APIs, Sensible can extract data from a range of document types, including invoices and contracts. It has strong security with SOC-2 and HIPAA compliance and offers scalable options with custom data regions and fine-grained access controls. This makes it a great option for teams that want to automate data extraction with strong security and flexibility.