Nanonets
Overview
Nanonets is a company that specializes in providing AI-powered automation solutions for business processes. Their platform is designed to extract meaningful information from unstructured data and automate complex workflows without the need for coding. Nanonets aims to help businesses reduce manual effort, improve decision-making, and achieve measurable ROI quickly.
Industry: AI Automation
Ideal Customer Profiles: Nanonets' ideal customers are businesses looking to automate their document processing and data extraction tasks. This includes industries such as finance, healthcare, manufacturing, property management, and relocation services, where there is a high volume of documents and data that need to be processed efficiently.
Website: nanonets.com
LinkedIn: http://linkedin.com/company/nanonets
Twitter: http://twitter.com/nanonets?lang=en
Products
AI-Powered Document Processing
Nanonets uses advanced AI extractors that do not rely on predefined templates, allowing for accurate data extraction from a variety of document types.
Features
Template-Free Data Extraction
Description: This feature allows users to extract data from documents without the need for predefined templates, making it flexible and adaptable to various document formats.
Benefit: Users can save time and reduce errors associated with template-based extraction methods.
Data Export Options
Description: Users can export extracted data into various formats such as XLS, CSV, or XML, and directly integrate it with CRM, WMS, or databases.
Benefit: Facilitates seamless integration with existing business systems, enhancing workflow efficiency.
Decision Engines
Description: This feature allows users to automate the review and validation of extracted data, ensuring accuracy and completeness.
Benefit: Reduces manual review time and improves data accuracy.
Flexible Data Ingestion
Description: Users can upload data from multiple sources including emails, cloud storage, and support tickets, making the system versatile and easy to use.
Benefit: Increases the flexibility and ease of data input, accommodating various data sources.
Healthcare Data Management
Description: This feature is specifically designed for the healthcare industry to organize and manage patient data securely.
Benefit: Improves healthcare efficiency by reducing the time needed to create summary reports and manage patient data.
Accounts Payable Automation
Nanonets integrates with existing ERP systems like SAP to automate the accounts payable process, reducing manual effort and errors.
Features
ERP Integration
Description: This feature allows seamless integration with ERP systems like SAP, automating the accounts payable process.
Benefit: Reduces manual data entry and errors, improving efficiency and accuracy in financial operations.
Automated Validation
Description: Automates the validation of invoices based on predefined business logic, ensuring that only accurate data is processed.
Benefit: Increases the reliability of financial data and reduces the need for manual checks.
AI-Powered Field Population
Description: Uses AI to automatically populate invoice fields, reducing the need for manual data entry.
Benefit: Saves time and reduces errors in data entry, allowing staff to focus on more strategic tasks.
Invoice Extraction
Description: Automates the extraction of data from invoices, making the process faster and more accurate.
Benefit: Improves the speed and accuracy of invoice processing, leading to better financial management.
Vendor Management
Description: Facilitates the management of vendor information within a single platform, integrated with SAP.
Benefit: Streamlines vendor management processes, improving operational efficiency.
Supply Chain Optimization
Nanonets optimizes supply chain processes by collecting and analyzing historical data to predict future demand accurately.
Features
Data Collection
Description: Gathers historical data from various platforms to provide a comprehensive view of supply chain operations.
Benefit: Enables better decision-making by providing a holistic view of supply chain data.
Demand Prediction
Description: Uses AI to predict future demand based on historical data, helping businesses optimize production and inventory management.
Benefit: Reduces overproduction and stockouts, improving customer satisfaction and reducing costs.
Improved Delivery Times
Description: Enhances delivery times by optimizing supply chain processes, leading to faster order fulfillment.
Benefit: Increases customer satisfaction and retention by ensuring timely delivery of products.
Cost Management
Description: Helps businesses scale their operations while managing and reducing processing costs.
Benefit: Improves profitability by reducing operational costs and increasing efficiency.
Data Transformation
Description: Converts unstructured data into actionable insights, enabling better decision-making in supply chain management.
Benefit: Provides valuable insights that can be used to improve supply chain efficiency and effectiveness.
Healthcare Efficiency Solutions
Nanonets revolutionizes healthcare efficiency by securely organizing and managing patient data, reducing report creation time significantly.
Features
Patient Data Management
Description: Organizes and manages patient data securely, ensuring that healthcare providers have access to accurate and up-to-date information.
Benefit: Reduces the time needed to create summary reports and manage patient data, improving healthcare efficiency.
Report Creation
Description: Significantly reduces the time required to create summary reports, allowing healthcare providers to focus on patient care.
Benefit: Increases efficiency and reduces the administrative burden on healthcare professionals.
Patient Communication
Description: Facilitates communication with patients, keeping them informed and reducing the workload on healthcare staff.
Benefit: Improves patient satisfaction and reduces the administrative burden on healthcare providers.
Operational Efficiency
Description: Reduces the operational overhead on healthcare professionals by automating data management tasks.
Benefit: Allows healthcare providers to focus more on patient care and less on administrative tasks.
Efficiency Revolution
Description: Transforms healthcare operations by significantly reducing the time required for administrative tasks.
Benefit: Improves overall healthcare efficiency and patient care quality.
Property Management Automation
Nanonets automates property maintenance invoice processing, significantly reducing costs and processing time.
Features
Cost Savings
Description: Reduces invoicing costs by automating the invoice processing workflow, freeing up staff for more strategic tasks.
Benefit: Significant cost savings and improved staff productivity.
Productivity Gains
Description: Enhances productivity by automating repetitive tasks, allowing staff to focus on more value-added activities.
Benefit: Increases overall business efficiency and effectiveness.
Reliability
Description: Ensures high reliability and quick issue resolution, maintaining business continuity.
Benefit: Provides peace of mind and ensures smooth business operations.
High Accuracy
Description: Achieves high accuracy in data extraction, reducing errors and improving data quality.
Benefit: Improves decision-making and reduces the need for manual corrections.
Ease of Integration
Description: Facilitates quick and easy integration with existing systems, requiring minimal technical expertise.
Benefit: Reduces implementation time and costs, allowing for faster realization of benefits.
Quantitative Benefits
"3.5x Median ROI over a 6-month payback period"
"88.3% Average reduction in manual effort"
"2-3x Faster setup time than industry standards"
"We are seeing a major difference in accuracy, as Nanonets provides a >95% accuracy which has helped cut down our processing time by ~50%."
"Tapi has been able to save 70% on invoicing costs, improve customer experience by turnaround of seconds from >6hrs and free up staff members from tedious work"
"PayGround cut the processing time from 3 minutes to 10 seconds"
"PayGround achieved a remarkable 99% accuracy rate in processing documents"
"95% Time Saved"
"Nanonets provides a >95% accuracy which has helped cut down our processing time by ~50%."
"Pro Partners Wealth has been able to save 40% in time when compared to their previous tool."
"Before Nanonets, their OCR had an accuracy rate of only 80%, and Nanonets provided an accuracy rate greater than 95%."
"After >80% Straight Through Processing"
"99% Time savings compared to manual effort"
"10/10 Support Rating"
"At this time, the AI correctly populates 75% of the fields they need to input into SAP"
"70% Cost saved"
"From 6hrs to 12s Change in Processing time"
"35,000 to 110,000 properties managed"
"94% Automation Accuracy"
"Tapi was previously spending over $10K a month, which was growing 10% MoM with the growth of the company. They are able to reduce this down 70% and these gains are expected to increase with time as the number of invoices grow."
"Due to manual validation, the turnaround time was >6hrs which resulted in invoices being cleared on the next business day, which resulted an unwanted delay in operations, this time with Nanonets has been reduced to 12s and allows an instantaneous turnaround of invoices which has been a significant improvement in customer experience for Tapi's users."
"10x Increase In Processing Speed"
Source: [](https://nanonets.com/)
"98.9 % Extraction Accuracy"
Source: [](https://nanonets.com/)
"90 % Time Saved"
Source: [](https://nanonets.com/)
"the AP team has able to process all their invoices for the week in a single day, saving him upto 90% of their time."
Source: [](https://nanonets.com/)
"In a 40-hour work week, three batches of this size took anywhere up to 15-20 hours of an employee's time."
Source: [](https://nanonets.com/)
"1040 man hours (~4 months a year) of manual data entry"
Source: [](https://nanonets.com/)
"94% Accuracy For Top 4 Fields"
Source: [](https://nanonets.com/)
"95% Reduction In Data Entry Time Per Field"
Source: [](https://nanonets.com/)
"Before 80% Accuracy Manual Processing After >95% Accuracy With Nanonets"
Source: [](https://nanonets.com/)
Testimonials
"There was a visible difference in how the app worked, and we were able to appeal to our customers by making it easy to pay bills"
Dennis Elder, Director of Product at PayGround
Source: Intelligent Automation AI for Business Processes | Nanonets
"We are seeing a major difference in accuracy, as Nanonets provides a >95% accuracy which has helped cut down our processing time by ~50%."
Kale Flaspohler, Financial Advisor at ProPartners Wealth
Source: Intelligent Automation AI for Business Processes | Nanonets
"Nanonets' direct integration with SAP helped SaltPay automate a crucial part of their Accounts Payable process"
Catherine Gallagher, Accounts Payable at SaltPay
Source: Intelligent Automation AI for Business Processes | Nanonets
"Tapi has been able to save 70% on invoicing costs, improve customer experience by turnaround of seconds from >6hrs and free up staff members from tedious work"
Luke Faulkner, Product Manager at Tapi
Source: Intelligent Automation AI for Business Processes | Nanonets
"I have built a relationship with Nanonets which is an important ideal of ACM and it feels now as if they are part of the family."
Ryan Hess, Head of Accounts Payable at ACM
Source: Intelligent Automation AI for Business Processes | Nanonets
"A great product and amazing customer support. Their response time was amazing. They went an extra mile to figure a plan that helps us scale our business."
Tay Kim, Product Operations Manager at Expatrio
Source: Intelligent Automation AI for Business Processes | Nanonets
"Nanonets allowed us to process images on-demand, do post-processing in-app and directly populate the user details. This streamlined process saved a considerable amount of time and resources for us"
Dennis, Director of Product at PayGround
Source: Nanonets Transforms Medical Bill Processing at PayGround
"Before Nanonets, manual processing was so tedious and time-consuming, to the point where you think: Why am I still following this approach in 2023?"
Source: Nanonets Transforms Medical Bill Processing at PayGround
"Our invoicing process is complex, and traditional automation tools could not automate it effectively. As a result, we faced high error rates and were unable to achieve complete automation, leading to the need for manual invoice checks and data validation tasks. This bottleneck greatly hindered our ability to scale our business."
Kale Flaspohler, Financial Advisor at Pro Partners Wealth
Source: Pro Partners Wealth automates Accounting Data Entry with Nanonets
"Using Flow, we were able to simplify and optimize our Accounts Payable. Their customizations and support enabled us to tailor a solution that meets our needs, improving the processing times and user experience. As a result, we've scaled our business more efficiently."
James Michael, Financial Advisor at Pro Partners Wealth
Source: Pro Partners Wealth automates Accounting Data Entry with Nanonets
"Nanonets are the long-term solution for companies that are looking to grow. They have been invested in our success and have provided the support we needed. We are seeing a major difference in accuracy, as Nanonets provides a >95% accuracy which has helped cut down our processing time by ~50%."
Kale Flaspohler, Financial Advisor at Pro Partners Wealth
Source: Pro Partners Wealth automates Accounting Data Entry with Nanonets
"The Nanonets team was quite forthcoming in working hard to solve issues and get our platform working quickly."
Saifuddin Anjarwalla, Product Manager at SaltPay
Source: SaltPay - Accounts Payable Automation with Nanonets and SAP
"Nanonets is like magic. I can't imagine how I would do invoice extraction without it"
Catherine Gallagher, Accounts Payable Financial Analyst at SaltPay
Source: SaltPay - Accounts Payable Automation with Nanonets and SAP
"We have had a great experience with Nanonets, the platform is reliable, easy to use and flexible along with excellent customer support from the team. Nanonet's AI solution has unlocked massive gains in savings and productivity for Tapi."
Luke Faulkner, Product Manager at Tapi
Source: Tapi automates property maintenance invoices using nanonets
"The value add of Tapi is efficiency gains, if we are doing invoice processing manually we aren't saving much time"
Luke Faulkner, Product Manager at Tapi
Source: Tapi automates property maintenance invoices using nanonets
"Being a financial controller in charge of accounts payable is hard work. The more projects we become involved in, the more money we spend. With more than 4,000 vendors and subcontractors we use regularly to complete our services, invoicing can become a difficult and tedious process. I saw that entering invoices one by one was an inefficient process. I was looking for a way to make entering invoices more convenient and accurate when I came across NanoNets."
Ryan Hess, Financial Controller at ACM Services
Source: [](https://nanonets.com/)
"Nanonets stood out to me specifically because of the first conversation I had on the phone with a representative. He told me in detail about how the system learns over time to pull accurate information and how they could create a custom way to integrate with our current system (Foundation Construction Accounting Software). Nanonets worked closely with me to integrate their AI system into our accounting program. They took the time to find a way to make it work, saving us a ton of time on accounts payable."
Ryan Hess, Financial Controller at ACM Services
Source: [](https://nanonets.com/)
"I would recommend Nano over other services because of their friendly team. I knew integration with our current stubborn accounting software was going to be difficult, but the NanoNets team assured me they could make it happen for us. They delivered better than I could have expected. I have built a relationship with Nano which is an important ideal of ACM and it feels now as if they are part of the family."
Ryan Hess, Financial Controller at ACM Services
Source: [](https://nanonets.com/)
"Expatrio is the first digital end-to-end relocation platform eliminating the prevalent pain throughout the relocation value chain by combining a unique individual check-up with possible direct contract conclusion for all necessary products and services."
Tay Kim, Product Operations Manager at Expatrio Global Services GmbH
Source: [](https://nanonets.com/)
"I would recommend Nanonets to companies who need an accurate and well functioning OCR solution with great support, reasonable pricing, and flexible plans."
Tay Kim, Product Operations Manager at Expatrio Global Services GmbH
Source: [](https://nanonets.com/)
"With a click of a button on my app, anybody in my team, at anytime, can upload a picture of a passport and it will automatically be added to our software for verification. All documents are now nicely organised."
Source: [](https://nanonets.com/)
Customer Stories
PayGround
Problem: Difficulty in processing medical bills efficiently
Value Add: Nanonets improved the app's functionality, making it easier for customers to pay bills
Outcome: There was a visible difference in how the app worked, and PayGround was able to appeal to their customers by making it easy to pay bills
Source: Intelligent Automation AI for Business Processes | Nanonets
ProPartners Wealth
Problem: Inefficient and inaccurate accounting data entry
Value Add: Nanonets provided >95% accuracy in data extraction
Outcome: ProPartners Wealth cut down their processing time by ~50% due to the high accuracy provided by Nanonets
Source: Intelligent Automation AI for Business Processes | Nanonets
SaltPay
Problem: Manual Accounts Payable process
Value Add: Nanonets provided direct integration with SAP
Outcome: SaltPay automated a crucial part of their Accounts Payable process using Nanonets' integration with SAP
Source: Intelligent Automation AI for Business Processes | Nanonets
Tapi
Problem: High invoicing costs and slow turnaround times
Value Add: Nanonets automated the property maintenance invoice process
Outcome: Tapi saved 70% on invoicing costs, improved customer experience by reducing turnaround time from >6hrs to seconds, and freed up staff members from tedious work
Source: Intelligent Automation AI for Business Processes | Nanonets
ACM
Problem: Manual invoice extraction process
Value Add: Nanonets automated the invoice extraction process
Outcome: ACM built a strong relationship with Nanonets, considering them part of their family, and automated their invoice extraction process
Source: Intelligent Automation AI for Business Processes | Nanonets
Expatrio
Problem: Manual data entry processes
Value Add: Nanonets provided a solution to reduce manual data entry with great customer support
Outcome: Expatrio was able to scale their business with Nanonets' product and received amazing customer support with quick response times
Source: Intelligent Automation AI for Business Processes | Nanonets
ACM Services
Problem: Manual data entry of vendor invoices was time-consuming and error-prone.
Value Add: Nanonets AI automated invoice extraction, integrated with their accounting software, and provided custom solutions for their specific needs.
Outcome: ACM Services achieved 90% time savings in invoice processing, improved accuracy, and gained the ability to avail early payment discounts from vendors.
Source: [](https://nanonets.com/)
Expatrio Global Services GmbH
Problem: Manual passport verification process was time-consuming, error-prone, and difficult to scale.
Value Add: Nanonets provided an OCR solution to automate passport data extraction and verification, improving accuracy and efficiency.
Outcome: Expatrio achieved faster sign-up processing for customers, reduced manual work by 95% per field, improved accuracy from 80% to over 95%, and enhanced employee satisfaction by eliminating repetitive tasks.
Source: [](https://nanonets.com/)
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