14 Rossum AI Competitors/Alternatives in 2023

Doc processing is essential in lots of industries resembling finance automation and accounts payable. Alongside accounts payable AI (APAI) options, AI-driven Clever Doc Processing (IDP) distributors resembling Rossum seize consideration. 

Moderately than relying on typical strategies like OCR or preset templates for knowledge extraction, Rossum employs AI that interprets paperwork in a way much like a human. Regardless of capabilities, Rossum might fall brief in a number of areas resembling line merchandise recognition; configuration and extra. On this vibrant market – a current report tasks APAI market spending to surge to $1.9 billion by 2025, a major rise from $850 million in 2020- it may be onerous to choose which approach to go.¹ 

To facilitate your decision-making, this text explains Rossum AI alternate options and their options.We are going to look at a consultant vendor for every class.

Rossum alternate options’ comparability

Rossum serves a number of totally different use circumstances. Primarily based on the use case what you are promoting desires to implement, there are totally different alternate options:

Options for AP automation with AI

Vendor	Variety of Staff	Variety of Scores & Opinions	Common Rating	Free Trial	Pricing
Hypatos	51-200	21	4.8	✅	€500 p/mo
Stampli	201-500	941	4.5	✖	Customized
AccountsIQ	51-200	93	4.5	✅	Necessities: €199 p/mo Progress: €450 p/mo Enterprise: Customized
AppZen	201-500	40	4.9	✅	Customized
Vic.ai	51-200	24	4.8	✖	$2.500 p/mo $2 p/unit

Word: With the sponsors on the prime of the checklist (Hypatos),  the desk is sorted out primarily based on the  variety of evaluations.

Options in IDP and OCR

Vendor	Focus & Performance	Variety of Staff	Variety of Scores & Opinions	Common Rating	Free Trial	Pricing
Nanosets	-OCR software program. -No code -Cloud primarily based & APIs	11-50	134	4.9	✅	Pay as you go: ✅ Professional: $499 p/mo Enterprise: Customized
Ephesoft	-IDP & OCR software program. -No code -Cloud primarily based & APIs	51-200	109	4.5	✅	Customized
Rossum	-IDP Software program. -Low code -Cloud-based & APIs	201-500	90	4.5	✅	Customized
IBM Datacap	-IDP & OCR software program. -Common code – Presents cloud & a number of APIs	51-200	61	4.3	✖	N/A
Docsumo	-IDP software program -No code -Cloud primarily based & APIs	51-200	51	4.7	✅	Progress: $500 p/mo Enterprise: Customized Enterprise: Customized
Grooper	-IDP & OCR software program. -No code -Presents cloud & API integration	51-200	43	4.6	N/A	Customized
Workfusion Clever Automation Cloud	-IDP & OCR software program -No code -Cloud primarily based & APIs integration	201-500	41	4.1	N/A	N/A
Amazon Textract	-IDP & OCR software program. -Common code -Cloud-based & APIs	N/A	21	4.5	✅	$0.60 over 1000 pages (over 1M pages) $1.50 per 1000 pages (First 1M pages)
Google Cloud Doc AI	-IDP & OCR software program. -Common code. -Cloud primarily based & APIs	N/A	5	4.5	✅	-Enterprise Doc OCR Processor: $1.50 per 1,000 pages -OCR Add Ons: $6 per 1,000 pages -Type Parser: $65 per 1,000 pages Clever Doc High quality Processor: $250 per 1,000 pages

*For extra data on Google’s pricing, take a look at: Doc AI pricing.

Word: This desk is sorted out primarily based on the variety of evaluations.

Desk options:

OCR software program: OCR (Optical Character Recognition) is a know-how designed to acknowledge and interpret textual content characters inside photographs, resembling these in printed books, images, or scanned paperwork. This know-how transforms image-based textual content into computer-readable characters, enabling future modifying, computing, and evaluation.

Codes:

• No code: No-code platforms are designed for customers with no programming information. They supply a visible improvement atmosphere the place customers can create functions utilizing drag-and-drop elements and pre-built templates.
• Low code: Low-code platforms require a point of coding information however considerably lower than conventional improvement environments. Additionally they supply a visible interface with drag-and-drop options however permit for extra customization and complexity by means of restricted coding.
• Common code (conventional coding): This method includes writing software program utilizing programming languages like Python, Java, or C++. It requires a complete understanding of coding, logic, and improvement frameworks. 

Cloud-based & APIs: IDP & OCR companies within the cloud permit customers to add paperwork to be processed on distant servers, making the software accessible from wherever with an web connection. IDP & OCR APIs allow integration into bigger methods or functions which permit automated textual content extraction from photographs inside totally different software program environments.

Vendor choice standards

Rossum’s alternate options for AP automation with AI distributors are chosen in following standards:

• Variety of workers: Distributors with 50+ workers
• Overview numbers: Distributors that acquired 20+ evaluations in main evaluations websites of G2, Capterra and TrustRadius
• Common scores: Distributors with greater than 4.5+/5 common rating

Rossum’s alternate options in OCR and IDP are chosen in following standards:

• Overview numbers: Distributors that acquired 5+ evaluations in main evaluations websites of G2, Capterra and TrustRadius
• Common scores: Distributors with greater than 4+/5+ common rating

Rossum overview

Based in 2017, Rossum identifies itself primarily as an IDP vendor, using applied sciences resembling machine studying and NLP in doc processing. As in accounts payable, Rossum’s know-how affords end-to-end automation all through many various industries. In finance, OCR use can set off inefficiencies in case of deviations. The validation interfaces will be nonexistent and this could eat a number of IT’s time. Rossum goals to repair these by empowering current applied sciences with AI. Its software program can acknowledge the design, particular language, and formatting alerts in paperwork.

Options supplied by trade

• Monetary companies
• Logistics & transportation
• Manufacturing
• Retail & CPG
• Enterprise companies/BPOs
• Healthcare
• Insurance coverage
• Building

Key options & capabilities

• AI-powered knowledge extraction: Rossum’s AI can extract knowledge from numerous paperwork. The understanding and processing of the content material goals to imitate human-features.
• Cognitive knowledge seize: Rossum’s software program can acknowledge and perceive the context of the data in paperwork, not simply the information itself. This enables for extra clever knowledge seize.
• Structure agnostic recognition: Opposite to conventional OCR instruments that rely upon fastened layouts, Rossum’s AI can adapt to doc layouts with out the necessity for pre-defined templates.
• Validation interface: Rossum gives an interface for verification and correction of extracted knowledge.
• Automated studying: The platform learns from person interactions and corrections and suggestions.
• Doc sort versatility: Rossum can course of a variety of doc varieties, together with invoices, buy orders (POs), and receipts.
• Multi-format help: Rossum can course of paperwork in numerous codecs, together with PDFs, scanned photographs, and digital paperwork.
• Cloud-based: As a cloud-based platform, Rossum affords scalability, distant accessibility, and diminished infrastructure prices.

Execs

• Time saving (case research): Grasp Belief Financial institution of Japan handled intensive monetary documentation, the place accuracy was essential on account of regulatory and compliance calls for. With 40 employees members, handbook knowledge entry was intensive, with every doc taking as much as 1.5 hours on account of various layouts. Implementing Rossum’s IDP platform, which blends open-source Japanese OCR with proprietary know-how, lower the handbook effort by 75%. Now, doc validation averages 50 seconds, saving 27.5% of the time per doc. ² 
• Minimal arrange: It requires much less preliminary setup and coaching in comparison with conventional OCR options, because of its AI-driven understanding of paperwork.³ 
• Integration: Rossum can combine with current ERP methods, enterprise course of administration instruments, and different enterprise software program through APIs.

Supply: G2⁴ 

Cons

• 3+ clients skilled issues relating to modifications and complexities of APIs. 

Supply: G2 ⁵ 

• Customers declare that Rossum can have hassle dealing with massive quantities of paperwork.⁶ 
• 2+ clients identified to the problem that Rossum can have hassle in studying line-items.

Supply G2⁷ 

Different for AP bill processing evaluation

Hypatos

Due to its GPT-based accounting system, Hypatos’ software program is able to capturing, categorizing, and verifying particulars on invoices, and it could possibly align the information from bill line gadgets with corresponding gadgets in a single or a number of buy orders (POs). The software program’s fashions are designed for ongoing studying and will be tailor-made to an organization’s particular knowledge wants, enabling a excessive diploma of automation with AI.

Key options & capabilities

• Deep studying know-how: Hypatos makes use of deep studying algorithms to know and course of paperwork. This method permits for greater accuracy in knowledge extraction in comparison with conventional OCR strategies. The platform is able to processing complicated paperwork like invoices, contracts, and receipts, not simply extracting textual content but in addition understanding the context and semantics of the content material. 
• Customized mannequin coaching: Hypatos permits for the coaching of customized fashions utilizing the corporate’s distinctive knowledge units to attain an autonomously working mannequin with related outcomes.
• Continuous studying: Hypatos’ AI fashions regularly study and enhance over time with suggestions.
• API integration: With the API integration capabilities, Hypatos can match into current IT ecosystems.
• World language help: Hypatos is designed to course of paperwork in a number of languages, making it appropriate for international companies working in numerous areas. 
• Information extraction and validation: The software program not solely extracts knowledge but in addition validates it, guaranteeing compliance.

Execs

• Ease of use. 4/10 person evaluations in G2 counsel that the software program affords simple implementation. One person summarizes these concepts with a remark in regards to the low studying curve of the software program interface.⁸ 
• Enterprises have diversified wants relating to the information they extract from paperwork; as an example, a enterprise would possibly have to file the main points and prices related to bought gadgets as listed on invoices. Hypatos’ Continuous Studying characteristic simplifies the acquisition of such new knowledge fields from paperwork, because the system can adapt and study from the enter offered by customers.

Cons

• The free trial of the software program gives a restricted quantity of information for customers to function functionally.⁹ 

No code various evaluation

Docsumo

Docsumo is a doc processing and knowledge extraction software that makes use of OCR and AI to automate the conversion of unstructured paperwork into actionable knowledge. Its capacity to investigate and categorize data minimizes handbook knowledge entry.

Execs

• With integration capabilities, Docsumo stands out for its ease of use in reviewers eyes.

• Extraction capabilities: 4+ customers praised Docsumo’s extraction on account of its accuracy and time-saving traits.¹⁰ 
• The platform’s scalability and the responsive buyer help add to its attraction, notably for corporations aiming to streamline their doc workflow and improve productiveness.¹¹ 

Cons

• Formatting points are underlined by the customers.¹² 
• Restricted variety of information to be authorized directly.¹³ 
• Restricted credit: 4+ customers disliked the restricted credit supplied by Docsumo.

Supply: G2 ¹⁴ 

If you’re searching for a no code software program, take a look at our benchmark: “High 7 No-Code Software program in 2023”

Common code-based IDP various evaluation

Amazon Textract

Amazon Textract is a service by AWS that leverages machine studying to extract textual content and knowledge from scanned paperwork. It goes past conventional OCR capabilities by figuring out the contents of fields in types and knowledge saved in tables. 

Execs

• Its deep integration with different AWS services additional enhances its attraction, providing a scalable and complete resolution for companies invested in cloud infrastructure and trying to harness the ability of AI for doc evaluation.
• Textract can extract knowledge with a novel ML know-how from templates and affords attain to 1000’s of free templates.¹⁵ 
• Accuracy. Customers level out that Amazon’s APIs have excessive accuracy in extracting knowledge.

Supply: G2 ¹⁶ 

Cons

• The APIs response will be onerous to know for patrons.

Supply: G2¹⁷ 

• Format recognition. 2+ customers underlined the problem that Textract, every now and then, just isn’t in a position to perceive the required format.¹⁸ 

Additional studying

When you need assistance discovering a vendor or have any questions, be at liberty to contact us:

Discover the Proper Distributors

Exterior Hyperlinks:

1. “Market Information for Accounts Payable Bill Automation Options.” Gartner. Retrieved on November 14, 2023. 
2. “grasp belief financial institution of japan” Rossum. Retrieved on November 14, 2023. 
3. “Rossum Opinions” G2. Retrieved on November 14, 2023. 
4. “Rossum Opinions” G2. Retrieved on November 14, 2023. 
5. “Rossum Opinions” G2. Retrieved on November 14, 2023. 
6. “Rossum Opinions” G2. Retrieved on November 14, 2023. 
7. “Rossum Opinions” G2. Retrieved on November 14, 2023. 
8. “Hypatos Opinions” Capterra. Retrieved on November 14, 2023. 
9. “Hypatos Opinions” Capterra. Retrieved on November 14, 2023. 
10. “Docsumo Opinions” G2. Retrieved on November 14, 2023. 
11. “Docsumo Opinions” G2. Retrieved on November 14, 2023. 
12. “Docsumo Opinions” G2. Retrieved on November 14, 2023. 
13. “Docsumo Opinions” G2. Retrieved on November 14, 2023. 
14. “Docsumo Opinions” G2. Retrieved on November 14, 2023. 
15. “Amazon Textract Opinions” G2. Retrieved on November 14, 2023. 
16. “Amazon Textract Opinions” G2. Retrieved on November 14, 2023. 
17. “Amazon Textract Opinions” G2. Retrieved on November 14, 2023. 
18. “Amazon Textract Opinions” G2. Retrieved on November 14, 2023.