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Docsumo VS Velocity Data Entry

Compare Docsumo VS Velocity Data Entry and see what are their differences

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Docsumo logo Docsumo

Extract Data from Unstructured Documents - Easily. Efficiently. Accurately.

Velocity Data Entry logo Velocity Data Entry

Process handwritten forms quickly and accurately
  • Docsumo Docsumo Homescreen
    Docsumo Homescreen //
    2025-03-05
  • Docsumo Docsumo Integrations Hub
    Docsumo Integrations Hub //
    2025-03-05
  • Docsumo Docsumo Dashboard
    Docsumo Dashboard //
    2025-03-05
  • Docsumo Docsumo AI Models Hub
    Docsumo AI Models Hub //
    2025-03-05

Docsumo is an intelligent document processing platform for financial services firms. Docsumo helps businesses and enterprises extract data from documents, analyze that data and detect document fraud.

Docsumo’s technology reduces back-office costs by up to 70% and increases productivity by 50%. For every million documents processed by a bank at about $1 per document, DocSumo can directly save $700k. What differentiates Docsumo is that their technology can read non-standardised documents such as bank statements, invoices, pay stubs and contracts with over 99% accuracy and more than 95% straight-through processing.

Docsumo features include:-

✅Data Capture from forms, semi-structured and unstructured financial documents ✅Pre-Trained API stack for loan application, insurance compliance, invoices, supply chain management, and Commercial Real Estate applications ✅Review & edit tool that allows you to click on any text in a document to capture data without manual entry ✅Out of the box API endpoint (accessible via Settings page) & option to download CSV ✅Multiple learning mechanism to ensure maximum accuracy ✅Simple pay as you go pricing ✅Ability to customize fields from the frontend ✅Define templates for recurring documents ✅Self-train neural network on your dataset

Choose Docsumo, if you want to:- - Automate the document data extraction end-to-end - Efficiently scale your process and your business eliminating manual data entry - Reduce risk by validating data

  • Velocity Data Entry Landing page
    Landing page //
    2019-08-05

Docsumo

Website
docsumo.com
Pricing URL
Official Docsumo Pricing
$ Details
paid Free Trial $500.0 / Monthly (Growth Plan | 3 Users | Pre-trained APIs for 3 document types)
Platforms
Web
Release Date
2019 October
Edit details

Velocity Data Entry

Website
oiuyts.st-rd.io
Pricing URL
-
$ Details
-
Platforms
-
Release Date
-
Edit details

Docsumo features and specs

  • Automated Data Extraction
    Docsumo automates data extraction from various documents including invoices, receipts, and forms, reducing the need for manual data entry and minimizing human error.
  • Advanced AI and Machine Learning
    Utilizes cutting-edge AI and machine learning algorithms to accurately capture and interpret complex data from documents, ensuring high accuracy.
  • Customizable Workflows
    Offers customizable workflows that can be tailored to specific business needs, allowing for flexibility in data processing and integration with other business systems.
  • Integration Capabilities
    Integrates seamlessly with various popular platforms such as QuickBooks, Zapier, and other API services, enhancing its utility and ease of use within existing business ecosystems.
  • User-Friendly Interface
    Boasts an intuitive and easy-to-use interface, making it accessible for users without extensive technical knowledge.
  • Scalability
    Capable of handling large volumes of documents, making it suitable for both small businesses and large enterprises.

Velocity Data Entry features and specs

  • Speed
    Velocity Data Entry allows for rapid data input, which can significantly increase productivity and efficiency.
  • Scalability
    The system is designed to handle large volumes of data, making it suitable for growing businesses with increasing data entry needs.
  • Automation
    Automated features reduce the need for manual data entry, decreasing human error and freeing up resources for other tasks.

Possible disadvantages of Velocity Data Entry

  • Cost
    The platform may require a significant financial investment, which could be a barrier for small businesses or startups.
  • Learning Curve
    Users may face a steep learning curve when adapting to the new system, potentially requiring additional training and time to become proficient.
  • Integration
    Integrating Velocity Data Entry with existing systems and software might pose technical challenges and require custom development.

Analysis of Docsumo

Overall verdict

  • Overall, Docsumo is a worthwhile investment for businesses seeking an automated document processing solution. It offers robust features and reliable performance, which can streamline operations and enhance productivity.

Why this product is good

  • Docsumo is considered a good option due to its advanced capabilities in automating document processing with AI and machine learning. It efficiently handles tasks like data extraction, validation, and classification from invoices, receipts, and various other business documents. It's particularly praised for its ease of integration, accuracy, and support for multiple languages, which can save businesses significant time and reduce manual errors in data entry processes.

Recommended for

  • Businesses looking to automate document workflows
  • Companies handling a large volume of invoices and receipts
  • Organizations interested in reducing manual data entry errors
  • Enterprises needing multi-language document processing capabilities

Docsumo videos

+ Add

How ClearOne Advantage Scaled 2X with Docsumo's Document Automation | Customer Success Story

More videos:

  • Tutorial - Process Bank Statements Inside Salesforce | Docsumo <> Salesforce Connector
  • Tutorial - Process ANY Complex Document Within Seconds in Docsumo

Velocity Data Entry videos

No Velocity Data Entry videos yet. You could help us improve this page by suggesting one.

Add video

Category Popularity

0-100% (relative to Docsumo and Velocity Data Entry)

Docsumo

Velocity Data Entry

Data Extraction
90 90%
Data Extraction
10% 10
AI
100 100%
AI
0% 0
Document Automation
0 0%
Document Automation
100% 100
OCR
100 100%
OCR
0% 0

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Docsumo and Velocity Data Entry

Docsumo Reviews

Best Income Verification Software in the UK: Top 10
Docsumo is an AI-powered document processing software that automates income verification by extracting data from payslips, bank statements, and tax records. It is widely used by financial institutions, lenders, and mortgage providers looking to speed up manual verification processes.
Source: blog.finexer.com

Velocity Data Entry Reviews

We have no reviews of Velocity Data Entry yet.
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Social recommendations and mentions

Based on our record, Docsumo seems to be more popular. It has been mentiond 2 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Docsumo mentions (2)

  • Docsumo Nepal
    Aayush here from Docsumo.com, we are a Document AI platform that empowers tech & ops teams to scale operations effortlessly by capturing, validating & analyzing unstructured documents. We recently raised $3.5 Million from Marquee investors. Source: over 2 years ago
  • Opportunity for data scientists
    Check out our website https://docsumo.com/ and blog https://docsumo.com/blog for more details. Source: almost 3 years ago

Velocity Data Entry mentions (0)

We have not tracked any mentions of Velocity Data Entry yet. Tracking of Velocity Data Entry recommendations started around Mar 2021.

What are some alternatives?

When comparing Docsumo and Velocity Data Entry, you can also consider the following products

Nanonets - Worlds best image recognition, object detection and OCR APIs. NanoNets’ platform makes it straightforward and fast to create highly accurate Deep Learning models.

Signatture - Get paid to receive email

DocParser - Extract data from PDF files & automate your workflow with our reliable document parsing software. Convert PDF files to Excel, JSON or update apps with webhooks.

fillthedoc - Document engine and automation for professionals

Nanonets OCR - Intelligent text extraction using OCR and deep learning

Spider Free - Spider Free helps developers to turn any website content into structured data that they can use for any purpose.

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