Easy Travel Expense Reporting with Navan and Veryfi May 12, 2023 - Traveling for business can be both enjoyable and productive, but the hassle of manually entering travel expenses can put a damper on the experience. In this light-hearted and entertaining demo that was featured live on stage at Money 20/20 in 2022, Navan (formerly Trip Actions) and Veryfi showcase how their innovative solutions can eliminate the […]
Building an Effective Healthcare Automation Ecosystem: Integrating Document Capture, Processing and Analytics March 24, 2025 - Healthcare professionals face an overwhelming administrative burden. In fact, a 2016 study published in the Annals of Internal Medicine found that for every hour physicians spend with patients, they dedicate nearly two additional hours to administrative tasks. Consequently, this inefficiency contributes to clinician burnout, increased operational costs, and delayed patient care. Moreover, the financial impact […]
The Future of IDP in Healthcare: AI, Blockchain, and Compliance March 24, 2025 - The healthcare industry is undergoing a digital transformation, with Intelligent Document Processing (IDP) at the forefront. Advancements in AI-driven automation and blockchain technology are poised to revolutionize medical coding, compliance, and fraud prevention. However, as healthcare organizations adopt these innovations, they must navigate evolving regulatory and security challenges, including HIPAA, GDPR, and fraud mitigation strategies. […]
Extracting Line-Item Intelligence: How Detailed Data Transforms Business Decisions for CPG Brands March 19, 2025 - Imagine a consumer buying their favorite snacks, beverages, and household essentials at a corner store. They grab a few promotional items, take advantage of a limited-time discount, and leave with a receipt in hand. For the brand behind these products, this simple purchase holds critical insights—but without the right technology, these insights remain untapped. Consumer […]
Mobile Document Capture Evolution: Seamless User Experiences Across Business Platforms March 18, 2025 - The Critical Role of Document Capture in Modern Applications In today’s digital world, capturing document data quickly and accurately is no longer just a nice-to-have. It’s now essential for staying competitive. Organizations in finance, construction, healthcare, and expense management are adding mobile document capture tools to their workflows. This change helps them cut down on […]
Sharper Duplicate Detection: Preventing Document Fraud Across Critical Business Processes March 17, 2025 - Duplicate Document Fraud: A Growing Threat to Business Operations It started with a routine audit. The accounts payable manager at a mid-sized manufacturing company saw something odd. The same vendor got paid twice for what looked like the same shipment. The only difference was the invoice numbers. Investigation showed a pattern over several months. Small […]
Ethical Considerations and AI Governance in AI-Driven Data Extraction March 12, 2025 - The Ethical Imperative in AI Data Extraction The rapid evolution of AI data extraction technology has transformed how organizations collect, process, and leverage information from documents and digital sources. For businesses implementing intelligent document processing, ethical considerations aren’t just compliance checkboxes but critical foundations for building trustworthy AI systems that deliver sustained value. Organizations that […]
The Technical Guide to Check OCR Implementation: Integration Roadmap for Banking Systems March 5, 2025 - Understanding the Integration Landscape Implementing check OCR technology requires a strategic approach that aligns with your institution’s technology stack, security requirements, and customer experience goals. This guide provides a roadmap for successful implementation while avoiding common pitfalls. Key Components of Veryfi’s Check Processing Solution Veryfi’s Bank Checks OCR solution consists of integrated components designed to […]
Check Fraud Detection in Banking: How AI-Powered OCR Transforms Risk Management March 4, 2025 - The Growing Challenge of Check Fraud in Banking Despite the digital transformation in banking, check fraud remains a persistent and costly threat to financial institutions. According to recent industry data, check fraud attempts have surged by 30% in the past year alone, with “check washing” schemes becoming increasingly sophisticated. For banks and financial institutions, this […]
Streamlining Commercial Banking: End-to-End Check Processing Automation March 3, 2025 - The Commercial Banking Challenge: Balancing Tradition and Innovation Commercial banking stands at a pivotal transformation point. Despite the surge in digital payment methods, check payments remain a significant component of B2B transactions, representing nearly 40% of payment volume for many mid-market businesses. However, client expectations have fundamentally shifted – today’s commercial clients demand the same […]
Preparing for SALT Deduction Changes: How Automated Receipt Processing Streamlines Tax Compliance February 24, 2025 - The SALT (State and Local Tax) deduction is a federal tax benefit that allows taxpayers who itemize their deductions to reduce their federally taxable income by deducting certain state and local taxes they have paid. With the State and Local Tax (SALT) deduction cap potentially facing significant changes in 2025, organizations need robust systems to […]