All Merchants. Any Vendor.

Itemize will identify the merchant 95% of the time. There is no merchant that we can't identify from a payment document.

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The Most Accurate Receipt OCR Processing in the World

Pulling data out of receipts is hard. Every receipt is unique. Using Artificial Intelligence and Machine Learning, Itemize digs in to every document, identifies six key data points, socres them for accuracy and returns them through the API in seconds.

How do we know we're the world's best? Here are our recent accuracy rates:

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Transaction Matching with Confidence

The only way to accurately match a receipt or payment document to a bank or card transaction is by accurately pulling the data out of receipt image. The Itemize API enables transaction matching, payments, and all forms of accelerating the speed of payments.

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Overview

  • Extracts data from paper and digital receipts.
  • Provides proof of purchase data and other information.
  • Supports enterprise clients with high-capacity processing requirements.
  • Currently available for English speaking markets.

Why use the API?

  • Accurate: 99% accuracy on digital and 95% on paper.
  • Granular: extracts detailed fields and information.
  • Efficient: low processing cost per document.
  •  Scalable: minimal human touch through the use of AI.

Applications

Payments & Banking

The Situation: Banking and payment systems in the United States were built during a time when the IBM punch card limited the amount of data that could be sent across a network. Payments and banking systems get summary data from card transactions, but never the line item details. The Payments ecosystem cannot know what a customer purchased unless the customer tells them.

The Itemize API Edge: By implementing the Itemize API into banking and payment systems, a bank or payments processing company is able to extract line-item data from receipts, match the receipts to a credit or debit card charges and provide reports to a card holders or customers about the details of their credit card transactions. The data extraction and matching is done automatically, without human touch, quickly and accurately, allowing you to provide a value- added service to card holders or customers to enhance customer retention and card usage and generate additional fee income.

AP & Bookkeeping

The Situation: Bookkeepers collect documents, manually extract data from the documents, and enter the data into the appropriate accounting records. The majority of these documents are receipts, hotel folios or invoices.

The Itemize API Edge: The Itemize API automatically captures data from receipts, hotel folios and invoices in less than 20 seconds with 95% accuracy. Manual data extraction and entry are eliminated. Costs decrease and efficiency and accuracy increase, in each case dramatically.

Accounting Software

The Situation:  Accounting Software helps businesses streamline accounting and bookkeeping functions.  But, almost all of these tools require someone to enter the relevant data by manually copying information from paper or digital receipts and invoices and performing applicable transaction matching functions.   

The Itemize API Edge: The Itemize API automatically captures data at the source in less than 20 seconds with 95% accuracy and performs transaction matching.  Manual data extraction and entry, and manual transaction matching, are eliminated.  Costs decrease and efficiency and accuracy increase, in each case dramatically.

Professional Employment Organizations

The Situation:  Professional Employer Organizations (PEOs) are outsourced managers of all talent management and HR tasks, which include disbursing paychecks and expense reimbursements to employees. PEOs use expense management tools to collect and audit employees’ reimbursable business expenses and to make these disbursements. The tools require PEO’s clients to prepare a report that details these expenses. In most cases, employees or their assistants must input the relevant information manually. And in most cases, the PEO does not maintain the original document and audit trail.

Significant time is spent in this process. The inherent lack of accuracy and auditability in this process causes PEOs to expend resources to audit expense reports and results in employees failing to be reimbursed fully or on a timely basis.

The Itemize API Edge: The Itemize API automatically captures data from the reimbursable receipt in less than 20 seconds with 95% accuracy and prepares the data for expense report. Manual data extraction and entry are eliminated. PEOs’ costs decrease and efficiency and accuracy increase, in each case dramatically. An added benefit: Employees have a significantly more user-friendly expense reimbursement experience and transaction volume should increase. An added benefit: PEOs capture a greater portion of the employee value chain and additional transactions.

Market Research

The Situation: Market research companies seek to determine which consumers are buying, where and what they are buying, and how much they are spending overall. Marketers use research results to adjust their campaigns to better reach, attract and incentivize consumers. To date the gathering, categorization and analysis of the relevant purchase information has been done manually, with attendant costs of manual labor, delays in obtaining information and inaccuracies resulting from human error.

The Itemize API Edge: By integrating the Itemize API into its market research system, a market research company can automatically extract line item information from receipts, folios and other payment documents, aggregate the information in categories, and provide valuable marketing information concerning who is buying, where and what they are buying, and what they are spending overall. You save manual labor costs, increase efficiency and accumulate very large volumes of relevant data quickly and accurately.

Expense Management

The Situation: Businesses use expense management tools to collect and audit employees’ reimbursable business expenses and to make these disbursements. The tools require employees to prepare a report that details these expenses. In most cases, employees or their assistants must input the relevant information manually. Significant time is spent in this process. The inherent lack of accuracy in this process causes businesses to expend resources to audit expense reports and results in employees failing to be reimbursed fully or on a timely basis.

The Itemize API Edge: The Itemize API automatically captures data from the reimbursable receipt in less than 20 seconds with 95% accuracy and enters the data in the expense reimbursement report. Manual data extraction and entry are eliminated. Costs decrease and efficiency and accuracy increase, in each case dramatically. An added benefit: employees have a significantly more user-friendly expense reimbursement experience.

Rebates & Loyalty Programs

The Situation: Companies use a variety of methods to promote their products and to capture a customer’s loyalty. Some programs are general in the sense that they seek to promote a broad selection of the company’s products, such as by awarding points for the purchase of a variety of products. Other programs focus on a specific company product, such as by providing a dollar rebate or other incentive to purchase the product. All of these programs the consumer to provide a document that constitutes “proof of purchase.” To date, processing these documents and extracting the “proof of purchase” data has been done manually, with attendant costs of manual labor, delays in obtaining information and inaccuracies resulting from human error.

The Itemize API Edge: The Itemize API automatically captures data from receipts and folios in less than 20 seconds with 95% accuracy and produces a report of the data. Manual data extraction and entry are eliminated. Costs decrease and efficiency and accuracy increase, in each case dramatically. An added benefit: consumers will have a significantly more user-friendly experience and the volume of data you obtain should increase significantly. Added benefit: Program operations management complexity decreases significantly so that the Program Manager can focus on the campaign.

Key Features

Proprietary Artificial Intelligence

Supports Merchants Around the Globe

Item Level & Tax/VAT Data Extraction

Proof of Purchase Validation

Fast – Under 30 Seconds

Fraud & Compliance Management

Accurate – 90%+ in Major Markets

Secure & in the Cloud