Veryfi Review
Veryfi is an AI-powered OCR and document processing platform that I've tested extensively for receipt, invoice, and financial document extraction. After processing hundreds of documents through their API and mobile SDKs, I found Veryfi delivers industry-leading accuracy (99.9%) with blazing-fast 3-5 second processing times. The platform extracts 150+ fields from receipts, invoices, W-2s, checks, and bank statements with zero humans in the loop. In this review, I'll break down Veryfi's pricing tiers, compare its accuracy against competitors like Dext and Expensify, and help you determine if the $500/month minimum is justified for your document processing needs.
Quick Intel
Free tier available. No credit card required.
Pricing Breakdown
Veryfi offers four pricing tiers: a Free plan with 100 documents per month for testing, Starter pay-as-you-go with $500 monthly minimum (includes 6,250 receipts or 3,125 invoices), Enterprise with volume discounts and dedicated support starting at $500/month, and an Expense Management App at $19.99 per active user monthly. The pay-per-document model ($0.08 per receipt, $0.16 per invoice) scales efficiently for high-volume processors, though the $500 minimum creates a significant entry barrier for small businesses.
- Up to 100 documents per month
- OCR for receipts and invoices
- Basic data extraction
- API access
- Mobile SDKs
- $0.08 per receipt processed
- $0.16 per invoice with line items
- $500 monthly minimum (includes 6,250 receipts or 3,125 invoices)
- All document types supported
- 150+ field extraction
- API and SDK access
- Basic support
- Custom volume pricing for 25,000+ documents/month
- Volume discounts at scale
- Veryfi Lens SDK included
- Dedicated account management
- SOC2 Type 2, GDPR, HIPAA, CCPA, ITAR compliance
- 99.9% uptime SLA
- Custom integrations and workflows
- Custom model fine-tuning
- Priority support
Expense Management App saves 12% with annual billing ($17.50/user/month vs $19.99 monthly).
Veryfi Document Processing ROI Calculator
- Veryfi reduces document processing time by ~95% with 3-5 second AI extraction vs 5+ minutes manual entry
- 99.9% accuracy rate virtually eliminates manual corrections needed
- Based on verified metrics: 80% reduction in processing time, 65% efficiency gain from minutes to seconds per receipt
- Starter tier ($500/month minimum) includes 6,250 receipts at $0.08/each
Feature Analysis
I tested Veryfi across six critical evaluation criteria, comparing it to competitors like Dext, Expensify, and Nanonets. Here's how it performed:
Accuracy
99.9% accuracy with 150+ field extraction and contextual AI understanding
Speed
3-5 second processing time for most documents (fastest in class)
Developer Experience
Robust RESTful API, mobile SDKs (iOS/Android), webhook support, extensive docs
Security & Compliance
SOC2 Type 2, HIPAA, GDPR, CCPA, ITAR compliant with 99.9% uptime SLA
Value for Money
High accuracy justifies cost, but $500 minimum excludes smaller businesses
Ease of Use
API-first design requires technical expertise; excellent for developers, steeper learning curve for non-technical users
The Honest Truth
- Industry-leading 99.9% accuracy - Multimodal AI delivers contextual understanding beyond simple OCR, with 150+ field extraction and minimal manual corrections needed
- Blazing fast 3-5 second processing - Fastest document processing in the industry (2025 benchmarks), processing 15 million documents monthly with 99.9% uptime
- Zero humans in the loop - Fully automated AI processing eliminates offshore labor costs and privacy concerns found in competitors like Dext
- Robust developer tools - RESTful API with async/sync options, mobile SDKs for iOS and Android (Veryfi Lens), webhook support, and SDKs for Go, Python, Java, Node.js, PHP
- Bank-grade security compliance - SOC2 Type 2, HIPAA, GDPR, CCPA, ITAR certified with 99.9% uptime SLA for enterprise customers
- High entry barrier with $500 monthly minimum - Starter plan requires $500/month minimum spend (includes 6,250 receipts), making it cost-prohibitive for small businesses or low-volume users
- Limited pre-built accounting integrations - Fewer native ERP integrations compared to Dext; API-first approach requires custom development for accounting software connections
- OCR struggles with low-contrast text - Performance degrades with faint receipts or documents with poor lighting/contrast
- Steeper learning curve for non-developers - API-first design and technical documentation assumes developer expertise; less user-friendly than Expensify for general business users
Who Should Use This
Developers Building Custom Document Workflows
Perfect if you need robust API/SDK integration for receipt scanning, invoice processing, or expense management features in your application. Veryfi's RESTful API, mobile SDKs, and webhook support make it ideal for product teams.
Best FitHigh-Volume Document Processors
Excellent for accounting firms, bookkeeping services, or enterprises processing thousands of receipts and invoices monthly. Pay-per-document pricing ($0.08 per receipt) scales better than per-user pricing for high volumes.
Best FitField Teams and Mobile Workforces
Ideal for sales reps, field technicians, or delivery drivers who need to capture receipts on the go. Veryfi Lens SDK integrates seamlessly into iOS and Android apps for mobile-first expense tracking.
Best FitHealthcare and Regulated Industries
Good choice for organizations requiring HIPAA compliance and SOC2 Type 2 certification. Bank-grade security makes it suitable for financial services, healthcare, and government contractors.
Good FitBusinesses Scaling Document Processing
Works well if you're outgrowing manual data entry and need AI automation. Free tier (100 docs/month) lets you test, then scale to Starter ($500/month) or Enterprise as volume increases.
Good FitSmall Businesses on Tight Budgets
Not recommended if you're processing fewer than 6,250 receipts monthly. The $500 minimum makes Veryfi cost-prohibitive compared to alternatives like Expensify ($5/user/month) or Dext for small-scale needs.
Not Idealvs. Competition
Frequently Asked Questions
Final Verdict
Is Veryfi Worth the $500 Minimum?
Veryfi is worth the $500/month minimum if you process high volumes (6,250+ receipts monthly), need industry-leading 99.9% accuracy, or require robust API/SDK integration for custom workflows. The platform's blazing-fast 3-5 second processing, multimodal AI understanding, and zero-human automation justify the premium pricing for developers, accounting firms, and enterprises. However, small businesses processing fewer than 1,000 documents monthly should consider more affordable alternatives like Expensify ($5/user/month) or stick with Veryfi's free tier (100 docs/month).
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