Nanonets Review - Features, Pricing & Deals

Nanonets is an AI-powered platform that automates document processing and data extraction for businesses. The software uses optical character recognition (OCR) and machine learning to transform unstructured documents into organized, usable data.

Founded in 2017 in San Francisco, the platform helps organizations across finance, healthcare, and manufacturing sectors streamline their workflows. It can process various document types including invoices, receipts, and contracts while extracting key information like dates, amounts, and other relevant data points.

The system integrates with existing business tools and adapts to specific needs through customizable workflows. Its AI models continuously learn from new data inputs to improve accuracy over time. Security features help protect sensitive information and ensure compliance with industry regulations.

Users can access Nanonets through different pricing tiers, from a pay-as-you-go option to enterprise-level packages with dedicated support. The platform has gained traction among major corporations, with over a third of Fortune 500 companies utilizing its services for tasks like quality control, insurance claims processing, and supply chain management.

The company has secured $40.62 million in funding through various rounds, backed by notable investors including Y Combinator, Elevation Capital, and Accel India. It operates in a competitive space alongside similar document processing solutions like Staple, Rossum, and Docsumo.

• AI-Powered Document Processing: Automates data extraction from complex documents using advanced optical character recognition and deep learning models, reducing manual processing time by up to 88.3%.
• Workflow Customization: Easily integrate and adapt workflows to fit specific business needs across finance, healthcare, and manufacturing sectors with seamless third-party application connections.
• Continuous Learning Models: AI algorithms continuously improve accuracy by learning from each data input, ensuring more precise and intelligent document processing over time.
• Comprehensive API Integration: Connect smoothly with enterprise software and third-party applications to create a unified ecosystem for streamlined business operations.
• Advanced Data Security: Implement robust security measures to protect sensitive information and ensure compliance with industry regulations during automated workflows.
• Multi-Industry Solutions: Support diverse use cases including quality control, insurance claims processing, supply chain management, and inventory forecasting.
• Flexible Pricing Models: Offer scalable pricing plans from starter to enterprise levels, making AI-powered document processing accessible for businesses of all sizes.

• Starter Plan offers a pay-as-you-go option with no monthly fee, processing documents at $0.30 per page, ideal for occasional use or platform testing.
• Pro Plan costs $499 per month, processing up to 5,000 pages monthly for a specific model, with additional pages at $0.10 each and support for up to 20 data extraction fields per document.
• Enterprise Plan provides a custom-priced solution with advanced features like a dedicated account manager, personalized data retention, and custom training, requiring a direct quote from Nanonets.
• On-Premise Plan offers a custom-priced option for businesses preferring to host Nanonets on their own infrastructure.

Nanonets' OCR technology stands out in the market with accuracy rates that often exceed industry standards. Users report that it can handle tricky document layouts, poor image quality, and various fonts better than many competitors. The system keeps learning from your corrections, so it gets smarter over time. While no OCR solution is perfect, many companies see extraction accuracy rates of 85-95% with Nanonets, which significantly cuts down on manual data entry work.

Yes! Nanonets was built with integration in mind. It connects with popular accounting software like QuickBooks and Xero, ERP systems like SAP and Oracle, and cloud storage solutions like Google Drive and Dropbox. The platform also offers API access so your tech team can create custom integrations with almost any business system. Most users can set up basic integrations without coding knowledge using the built-in connectors and workflow tools.

The setup time varies based on your document types. For common documents like standard invoices or receipts, you can be up and running in a few hours. The pre-trained models work right away. For custom documents unique to your business, expect to spend 1-2 weeks training the system with 15-30 sample documents. The good news is that you don't need to be technical - just upload samples and show the system where important information appears. Many users see the system improving within the first month of use.

Nanonets takes security seriously. They maintain SOC 2 compliance and offer HIPAA compliance for healthcare customers. All data is encrypted both in transit and at rest. The platform lets you set user permissions, so you control who sees what documents. You can also choose data retention policies and set up secure deletion timelines. For companies with strict security requirements, Nanonets offers on-premise deployment options where data never leaves your servers.

Yes, Nanonets offers a free trial that lets you process a limited number of documents to test the system with your actual paperwork. The free trial includes access to most features so you can build workflows and test accuracy. There's also a freemium version with basic functionality if you just need simple OCR tasks done occasionally. This gives you plenty of time to see if the system fits your needs before you invest in a paid plan.