Streamlining new vendor onboarding and invoice processing
What do you like best about the product?
Nanonets uses sophisticated algorithms that accurately extract data from invoices, even with complex or non-standard layouts. The AI continuously learns and improves its extraction accuracy, reducing manual data entry errors and saving significant time for our team. The platform also allows users to create highly customizable workflows that can automatically route invoices, trigger approvals, and perform actions based on specific rules.
What do you dislike about the product?
Nanonets' invoice processing and workflow automation features may require substantial initial setup and configuration.
The platform's pricing model might be less transparent or more expensive than some competitors, especially for small to medium-sized businesses.
Manual verification might still be necessary, potentially reducing the expected efficiency gains in some cases.
The platform's pricing model might be less transparent or more expensive than some competitors, especially for small to medium-sized businesses.
Manual verification might still be necessary, potentially reducing the expected efficiency gains in some cases.
What problems is the product solving and how is that benefiting you?
We onboard a lot of new vendors on a monthly basis and often vendors also end up using multiple non-standard invoice formats (we even receive different formats from the same vendor).
Syncing vendor data into our ERP and streamlining the data ingestion was a big pain. Nanonets has helped streamline this to a great extent, cutting down manhours significantly.
Syncing vendor data into our ERP and streamlining the data ingestion was a big pain. Nanonets has helped streamline this to a great extent, cutting down manhours significantly.
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