If you are looking for Alternatives to Kofax You are in the right place! here you will find out a comparison between Kofax and Procys, two completely different options when it comes to technology, costs, and overall performance.
Before entering straight to comparison, first, let’s understand one of the core elements (If not the main) to compare when it comes to invoicing processing solutions: OCR.
Simply put, OCR (Optical Character Recognition) is the technology that allows the extraction of structured data (Like invoice headers and lines) from scanned documents or images. Inside this ‘’OCR world’’ there are different types, for example:
- Template-based (Kofax): Requires making templates for every type of document. The data is extracted only if you have set a structured layout to guide the OCR process (Considered as an outdated process)
- AI-Based (Procys): is a modern type of OCR powered by artificial intelligence. The data is extracted automatically with the capabilities of learning from your documents and improving over time.
One of the main elements of invoice processing solutions is the OCR, where our comparison begins! You will find the difference in implementation times, costs, maintenance, and much more. Here is a comparison table between Kofax and Procys; see it for yourself!
Technology
AI-Based OCR. The data is extracted automatically. It learns from your documents to improve accuracy.
Technology
Template-based OCR, Do not learn from data, no real automatio
Setup time
You can start processing invoices right away.
Setup time
Slow to develop and scale. The number of invoices, suppliers, and customers will determine the time.
Implementation
No template is needed. You can process any invoice with a high accuracy rate.
Implementation
Not easy to deploy. You need to create a unique template for each type of invoice, supplier, or client.
Data accuracy
High accuracy rate. If there is an error in the data, you can correct it instantly. Thanks to Procys machine learning technology, the same mistake will not happen twice.
Data accuracy
The accuracy will depend on the templates created. It's possible to have data errors at scale if a template has errors.
Maintenance
No maintenance is needed.
Maintenance
Difficult to manage and update. Requires intervention every time there is a new customer or supplier.
Price
You only pay for what you process. free trial included. No fine print, no commitment. Headers: 0.20€ per invoice. Headers and unlimited invoice lines: 0.40€ per invoice.
Price
Free trial available. Based on subscriprion starting at 62€. The lincence price will depend on how many invoices you predict to process. Pay before use.
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