Nanonets

Nanonets has revolutionized document processing through its intelligent platform that combines advanced OCR technology with sophisticated AI extraction models. By requiring minimal setup and featuring intuitive annotation tools, the platform has achieved 88.3% reduction in manual effort across various industries, with a 3.5x median ROI within six months. The system excels in Accounts Payable automation, having processed millions of documents for clients including Asian Paints and demonstrated 5x reduction in invoice processing time. Through comprehensive integration capabilities with NetSuite and other ERP systems, as well as support for over ten specific document types, Nanonets has established itself as a leader in intelligent document processing while maintaining rigorous compliance standards.

Core Features and Workflow

Nanonets' platform empowers users with an intuitive annotation tool that requires minimal setup. The process begins with importing images, where each page processed counts as one workflow step. Users then annotate images by drawing boxes around elements and selecting their corresponding types from dropdown menus. This approach allows for precise data extraction while maintaining clear billing calculations based on the actual number of pages processed.

The platform excels at automated data capture through its sophisticated OCR technology, supporting over ten specific document types including invoices, receipts, purchase orders, and bank statements. This functionality enables seamless integration across multiple business systems while maintaining rigorous control standards.

The company's intelligent extraction models generalize across various document formats, requiring no specific template creation for different invoice structures. Team review features allow for collaborative data validation before submission to accounting systems, while advanced exception handling ensures thorough quality control throughout the processing workflow.

Business Impact and Case Studies

Nanonets has demonstrated measurable ROI in weeks, not months across various industries, with key metrics including an average 88.3% reduction in manual effort and a 3.5x median ROI over a 6-month payback period. The company's technology has helped clients achieve 2-3x faster setup times compared to industry standards.

The platform has played a pivotal role in Accounts Payable (AP) automation for clients like Asian Paints, where document extraction was crucial to their overall automation efforts. This has led to significant improvements in employee productivity through faster reimbursement claims processing.

Businesses across multiple industries have reported substantial benefits, including:

• Finance: A 5x reduction in invoice processing time through automated data capture from invoices, receipts, and purchase orders

• Manufacturing: A 50% acceleration in order processing through integration with customer relationship management (CRM) systems like Salesforce, HubSpot, or Airtable

• Insurance: A 95% reduction in application processing time through document auto-classification, data consolidation, and automated email communication

These improvements have translated into tangible cost savings and operational efficiency gains. For example, the platform's ability to generalize over any new invoice format without requiring template creation has proven particularly valuable for processing invoices from diverse vendors worldwide.

Integration Capabilities

Nanonets' platform stands out for its comprehensive approach to AP automation, particularly through its seamless integration with NetSuite. The technology employs complex ML models to achieve 99%+ accuracy across invoices, receipts, purchase orders, and bank statements, while its data matching capabilities automate 90% of processing through real-time document validation.

Setup for NetSuite integration requires straightforward configuration: users begin by accessing the app.nanonets.com "invoice" card, selecting the NetSuite integration, authorizing their NetSuite accounts, and mapping Nanonets fields to corresponding Netsuite columns. The platform automatically manages invoice coding, including mapping GL accounts, SKU codes, locations, and departments, while maintaining rigorous controls through configurable approval workflows accessible via mobile, Slack, or Teams.

The system's template-agnostic nature allows it to process invoices from any vendor worldwide, with additional features including automated exception handling and real-time data sync across multiple document types. This integration has proven particularly valuable for clients requiring compliance and audit readiness, as the platform ensures full ERP system compatibility while supporting custom records and user-defined lists.

AI Technology and Applications

Nanonets employs advanced OCR and AI extraction models specifically designed for invoices, receipts, and purchase orders. Their technology supports over ten specific document types including invoices, receipts, purchase orders, bills of lading, passports, bank statements, and ID cards. The company's AI-powered OCR can process native PDFs, scanned images (JPEG, PNG, BMP), and other image files through their online OCR tool.

The platform uses sophisticated machine learning models to achieve over 99% accuracy on invoices, receipts, purchase orders, and bank statements. Built-in connectors enable seamless integration with all accounting and enterprise resource planning (ERP) tools, including NetSuite, Microsoft Dynamics 365, Salesforce, and Zendesk. Integration requires straightforward configuration: users begin by accessing the app.nanonets.com "invoice" card, selecting the applicable NetSuite integration, authorizing their NetSuite accounts, and mapping Nanonets fields to corresponding Netsuite columns.

The system employs complex workflow processes for data matching and decision-making in purchasing, reconciliation, and approval. It excels at invoice coding by automatically mapping General Ledger accounts, SKU codes, locations, and departments to transactions while maintaining consistency across the entire ERP system. When rules fail or exceptions arise, the technology automatically flags invoices for team resolution before approval, demonstrating its robust exception handling capabilities.

Nanonets maintains template-agnostic processing for invoices from any vendor worldwide. The platform supports diverse input methods including email, API uploads, and integration with cloud storage services like Google Drive, Dropbox, and OneDrive. Through its advanced features and deep integration capabilities, Nanonets has proven particularly valuable for clients requiring stringent compliance and audit readiness while maintaining full ERP system compatibility.

Pricing and Deployment Options

The platform offers two primary plans: Pro and Enterprise. The Pro plan includes advanced features such as automatic line item capture (up to 20 fields), team member collaboration, custom data capture AI, and annotation services. It supports various integration options including export to Microsoft Dynamics, Salesforce, and SAP, and offers enhanced security through Single Sign-On (SSO) functionality.

The Enterprise plan builds on these capabilities, providing extensive customization options including custom workflow step executions at a rate of $0.05 per step execution. Additional features include dedicated account management, custom integrations, and white-label user interfaces. Both plans support multiple license configurations and provide detailed data retention options. The platform also offers personalized 1-1 team training and customizable client onboarding processes.

To optimize the platform for large-scale deployments, Nanonets charges extra for page overages beyond plan limits. For example, the Starter plan incurs a $0.30 per-page fee for processing 1,000 extra pages, resulting in a $300 additional cost. This pricing model enables customers to scale their usage while maintaining clear financial visibility into their document processing expenses.