AI TOOL PROFILE
Nanonets Automated Accounting: Document Automation Software
- Finance and Accounting
- Document Automation
- Small businesses
- Mid-market companies
- Enterprise finance teams
- Logistics and supply chain managers
- Insurance operations leads
Pricing
Nanonets uses a pay-as-you-go model based on 'block runs' with no fixed platform fees. New users can start with $200 in free credits, and volume discounts of up to 40% are available.
At a glance
- Best for
- Small businesses, Mid-market companies, Enterprise finance teams, Logistics and supply chain managers, Insurance operations leads
- Key use cases
- Accounts Payable Automation, Financial Reconciliation, Insurance Claims Processing, Logistics and Freight Management, KYC and Onboarding
- Integrations
- Quickbooks, Xero, Sage, NetSuite, SAP
- Official website
- Visit Nanonets Automated Accounting official website
How AI is used
Nanonets is an Intelligent Document Processing (IDP) platform designed to convert unstructured documents—such as invoices, receipts, and bank statements—into structured data. It uses OCR, deep learning, and natural language processing to identify and extract specific fields without requiring rigid templates.
The software is designed for small and mid-market companies, as well as enterprises, specifically those in finance, logistics, insurance, and healthcare. It supports a variety of inputs, including scanned PDFs and images, and supports the creation of automated workflows to route this data to other business systems.
Buyers should note that the tool incorporates a "human-in-the-loop" process where users review and correct flags to improve the AI model. Buyers should confirm which specific ERP or CRM connectors are included in their chosen pricing tier, as some integrations are labeled as premium.
Key Features
AI-Powered Data Extraction
Uses OCR and deep learning to extract information from invoices, purchase orders, bills of lading, and ID cards.
Two-Way Sync
Supports syncing extracted data between the platform and connected ERP or CRM systems.
Custom Document Types
Allows businesses to define and train the AI to recognize specific document formats.
Automated Matching
Supports 2-way and 3-way matching of invoices against purchase orders and goods received notes.
Decision Engines
Includes tools to flag, review, and validate files based on set rules before they are exported.
Use Cases
Accounts Payable Automation
Extracting data from vendor invoices and receipts to support payables workflows.
Financial Reconciliation
Matching transactions across bank statements, ledgers, and invoices to support month-end closing.
Insurance Claims Processing
Capturing data from claim forms and medical records to assist underwriting and claims handling.
Logistics and Freight Management
Processing bills of lading and shipment manifests to update transportation management systems.
KYC and Onboarding
Automating the verification of customer information from passports and ID cards.
Integrations
- Quickbooks
- Xero
- Sage
- NetSuite
- SAP
- Microsoft D365
- Salesforce
- Google Drive
- Dropbox
- Sharepoint
- OneDrive
- Gmail
- Zapier
FAQ
How does Nanonets calculate its pricing?
- Billing is based on the number of times a 'block' runs in a workflow. Simpler tasks like formatting cost less per run than complex AI operations like data extraction.
What documents can Nanonets process?
- It is designed to extract data from invoices, purchase orders, bills of lading, receipts, bank statements, passports, and ID cards.
Does Nanonets integrate with accounting software?
- Yes, it provides connectors for systems including QuickBooks, Xero, Sage, NetSuite, SAP, and Microsoft D365.
Source category: Finance & Accounting
Source subcategory: Document Automation
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