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 150 View all reviews
Linda
  • Industry: Real Estate
  • Company size: Self Employed
  • Used Monthly for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
4
Customer Support
5

5
Reviewed on 03/12/2021

Good product, responsive customer service

Easy to take photos and load receipts. I liked being able to categorize with the names that I preferred to use for my expenses. I could add "tags" too which was helpful if I wanted to track a particular client for example and determine how much I spent on that person, or that property, for example. *Please note that while I selected my use as "monthly" I was using it monthly and then didn't use it for about a year, and I'm wanting to get back to it (I've been paying for it and QB this whole time and not ieither one, fully).

Pros

I used this software for a couple of years, and the only issues I had were logging income so that an accurate P&L could be created. The developers worked with me and my CPA to correct the issues we were having and I really appreciated their responses to our concerns. Overall, my CPA recommended that I switch to QuickBooks. I did, but it's been not easy to use, has poor customer service and is overpriced and too "busy/cluttered" for what I need which is simplicity because my business is simple. I wish I had kept up with Veryfi's expense tracker, because changing programs is not easy to do even in a simple business. I would recommend Veryfi for sure! I think they even resolved the issues I had in the past.

Cons

Back when I was using it regularly, the income option was reversing numbers and not accurately representing P&L reports. I think the developers corrected this since then.

Alternatives Considered

Quickbooks Online

Reasons for Choosing Veryfi Receipts OCR & Expenses

I started with Veryfi, switched to QB, then I'm wanting to transition back. As I said above, QB support is nearly absent or not relevant to my business and I only needed a little bit of help getting things set up but they help was simply not there and the program while it had it's benefits, was not all that great.

Switched From

Quickbooks Online

Reasons for Switching to Veryfi Receipts OCR & Expenses

Simplified program.
Daniel
  • Industry: Hospitality
  • 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 17/08/2021

The app I use every day. Highly recommend!

I used to have to spend an hour each month matching a shoebox filled with receipts to my credit card bills. Now I don't even have to keep the paper receipts. I simply scan them with Veryfi, and in seconds, i have a digital copy with all the important info already populated into categories (payment type, expense category, merchant, date, etc). Then at the end of the month, their intuitive web based platform matches all my expenses to any bank feeds I have linked. What used to take me an hour now takes minutes!

Pros

Veryfi is very easy to use and has some great features. I love how easy it is to scan paper store receipts, or email web based receipts. It uses the latests security protocols (Yodlee handles all the bank/credit card integrations, they use 2FA to log in) and has saved me a ton of time managing my expenses.

Cons

In cases where a receipt has multiple expenses which are considered separate purchases (Amazon does this a lot), the software requires multiple steps to separate them. When I'm matching credit card charges from linked accounts to my Veryfi receipts, I have to leave the bank feed section, go into the documents section, and clone the receipt to separate the charges, then go back to the bank feed section to match the receipts. I hope they can design a shortcut within the bank feed to accomplish this, to cut down on steps.

Alternatives Considered

Expensify

Reasons for Choosing Veryfi Receipts OCR & Expenses

Both of these platforms eventually phased out and Veryfi actually offered an import feature so that I wouldn't lose my receipt data from my previous app. That combined with its features made it a no-brainer.

Reasons for Switching to Veryfi Receipts OCR & Expenses

Price and the ability to import receipts from my previous app.

Response from Veryfi

Daniel, Thank you for your nice feedback and support.

I'd love to help you out with the Amazon receipts. Please email [email protected] and let's explore what we can improve on our end to make this work.

Best,
Ernest (cofounder)

Replied 01/09/2021
David
  • Industry: Restaurants
  • Company size: 51-200 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 28/02/2021

After a long search, I finally found this gem!

Game Changer! I was with all popular Ex******* for several years when I received an email from fbe CEO stating that anyone that did not agree with him politically was “unpatriotic” I am sure many reading this are aware of this. This disgusted me because I would not continue to do business with them after reading such an asinine statement. I was upset because other than Zoho and Concur I did think any company offered the same product with credit integration. Many that do often have a 5 user minimum which is not practical for most small businesses. For weeks I searched and demoed options. All we're either none-intuirive, offered poor support or too inferior to the app I was leaving. Somewhere I stumbled on Veryfi and after visiting the page, expected it was too good to be true. I was just waiting to read “5 user minimin” or see some red flag on it's limitations. Finding Veryfi was equal to stumbling upon a Gold ingot. Not only did it check every box I required, it truly proved that even big names line Expensify offer little time savings when it comes to reconciling recieots, expenses and creating reports. I can say this with certainty as someone that has had used the Concurs, Expensifies and Zohos of the world or many years. I thought I was happy and thought I was using the best until I tried Veryfi. I am not exaggerating when I say that it is on a different level on almost every single day.

Pros

I like the ability to integrate credit cards. Not only from the 4-5 largest banks but from hundreds of banks. This is not seen from competitors. For example, I have a Amazon Visa but also have an Amazon Store Credit card (no visa/mastercard). I also have a best buy store credit card (again only good at that business. I was floored to see that Veryfi integrated with these too!

Cons

So far, I am a couple of months last the 30 day free trial. Other than using the software have not taken the time to really customize it to my business and automate to.many tasks. No complaints this far and I hope that will stay the same.

Alternatives Considered

webexpenses and Zoho Expense

Reasons for Choosing Veryfi Receipts OCR & Expenses

The CEO continuously send emails to all users that were full of content that was probably not best foR public consumption. He would whine a lot things, almost blame customers for the financial woes at the company, almost threaten customers if they failed to switch to the new Expensify card etc. Price increases are normal and we get that. But he once increased prices at the very lowest point economically did to COViD19 that make the company feel like a victim, never thinking how much the Pandamic may have affected the lives of customers. It ended up making them look like jerks for raising prices. Then the famous “of you disagree with me politically then you are the problem and are unpatriotic “

Switched From

Expensify

Reasons for Switching to Veryfi Receipts OCR & Expenses

For many reasons previously mentioned. Veryfi is proceed $10 more per than similar products but I did not hesitate due to the enormous value. Value is price/precieved benefit. Veryfi’s price is among the highest per single user programs but it’s value is unmatched!

Response from Veryfi

Love it! Thank you David for your lovely feedback.
btw, we have volume discounts if your employees want access as well :-)

Replied 02/06/2021
Dan
  • Industry: Management Consulting
  • Company size: 2-10 Employees
  • Used Daily for 1+ year
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 17/10/2018

Great product

Verify has saved me time and money. The amount of time we used to devote to coding expenses has dropped to a fraction of what it used to be saving on book keepers fees. Also there were always receipts that I lost along the way which meant lost reimbursement from clients.

It’s also great to have a scanned record of every expense available if the need arises.

Pros

Very easy to use. It saves me a lot of time especially when i am on the road.

The scanning or recipts is right most of the time and its great how it links into my accounting package and bank feeds. It also "guesses" what the accounting classification should be. I travel overseas a lot so the multi currency ability of verify is also fantastic. Saves me trying to work out what the conversion rates should have been.

Its also very useful when I get emailed receipts (which is happening more and more) as I can forward then directly to verify for auto entry into the system. Finally having somewhere to be able to store and search for all my old receipts is very handy when clients accounting departments ask to see the documents.

i haven't had the need for support much (which is a testament to the product) but when I did they were very prompt in responding and solving my issues. Great work guys!

Cons

Which the OCR and allocation of expenses to my expenses ledgers is good it could still be better.I am sure thats something the verify team are working on. Also when I sign up (which was quite a while ago) It took me some time to work out how to use the product, but when I did I was away. I believe they now offer 1 to 1 training online which is great, but I think they should also add some more "how to" video's to help new users get up to speed quicker.

Response from Veryfi

Dan, Thank you so much for a detailed review. Love it!

I totally agree on more help videos. The product is getting complex and we are constantly looking at ways to simplify. Saying that we just released our 1st onboarding checklist video https://www.youtube.com/watch?v=E_T-rRK0dzE and more are coming this week on our youtube channel https://www.youtube.com/channel/UC15iI-2ujjOOQsit1To-IJA

Replied 24/10/2018
Maddie
  • Industry: Information Technology & Services
  • Company size: 10,000+ Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
5

4
Reviewed on 10/05/2022

Automated and simple-to-use, compatible with practically everything

After using it for a couple of years, the only difficulty I had was accurately recording revenue to construct a P&L. My CPA and I had a number of difficulties with the software, and the developers worked with us to fix them. In general, I was encouraged to make the transfer to QuickBooks by my CPA.

Pros

The quickest and most efficient approach to keep track of your receipts is to scan them as soon as you receive them. Excellent OCR and alignment correction are provided by Veryfi. Taking images and uploading receipts is simple. It was convenient to be able to utilize the spending category names that I desired. If I wanted to monitor a specific customer, for example and figure out how much money I spent on that individual, I could add "tags" to my spreadsheet.

Cons

Income was inverting figures and not appropriately displaying P&L reporting back when I used it frequently Since then, I believe this bug has been fixed.

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