Nanonets Alternative

Enterprise-grade AI invoice parser with 95-99% accuracy. Industry-leading OCR with layout-agnostic processing and complex line-item extraction. Best for mid-market to enterprise with 500+ invoices/month.

AI ParserSan Francisco, USAFounded 2017

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Company Overview

About Nanonets

Enterprise-grade AI invoice parser with 95-99% accuracy. Industry-leading OCR with layout-agnostic processing and complex line-item extraction. Best for mid-market to enterprise with 500+ invoices/month.

Team Size:50-100
Funding:Venture-backed (Series A)

Target Market

Mid-market to enterprise businesses processing 500+ invoices monthly with $10M+ revenue

Business Size:

enterprise

Industries:

LogisticsManufacturingRetailHealthcare

Geography:

GlobalUS-focused

Features Overview

AI-Powered

UK Compliance

VAT Support

CIS Support

Automation

Mobile App

API Access

Custom Templates

Multi-Currency

Batch Processing

OCR Accuracy: 99%

Accounting Integrations

QuickBooksXeroNetSuiteSAPOracle

Pricing Structure

Starter

Free
  • First 500 pages free

  • Pay-as-you-go after

  • Basic OCR

  • Email support

Pages:

500/month

POPULAR

Pro

USD999/month
  • Volume discounts

  • Custom model training

  • Human-in-the-loop

  • API access

  • Priority support

  • ERP integrations

Enterprise

USD5000/month
  • Custom pricing

  • Dedicated support

  • On-premise deployment

  • SLA guarantee

  • Advanced security

Additional Usage Fees

$0.10-0.50 per page depending on volume

Pros & Cons

Strengths

7
  • Best-in-class AI accuracy (95-99%)

  • Handles complex, varied invoice formats

  • Strong enterprise features (compliance, security)

  • Continuous learning AI improves over time

  • Excellent line-item extraction

  • Layout-agnostic processing

  • SOC 2, GDPR, HIPAA compliant

Weaknesses

7
  • Expensive ($999/mo minimum for serious usage)

  • Complex setup requires technical knowledge

  • Overkill for small businesses (<100 invoices/mo)

  • No UK-specific pricing (USD only)

  • Poor SMB support (enterprise-focused)

  • Usage fees add up quickly

  • Long implementation time

Customer Reviews

4.7

Overall Rating

4.7

G2

4.6

Capterra

Common User Feedback

"Accuracy is impressive but expensive"

"Great for high-volume processing"

"Overkill for our needs"

"Support is excellent but complex setup"

Why Choose Elektroluma Over Nanonets?

Elektroluma Advantages

AI-Powered Automation

Automated invoice parsing and data extraction with 99% accuracy. No manual data entry required.

90% Faster Processing

Process invoices in under 5 seconds vs 5-10 minutes manual entry. Save hours every week.

UK-First Compliance

Built-in VAT, CIS, and HMRC compliance. Designed specifically for UK small businesses.

UK Data Residency

All data stored in UK data centers. GDPR compliant with UK-based support team.

Key Differentiators

Massive price gap: £29/mo vs $999/mo

UK-specific features (VAT, CIS)

Simple setup vs complex implementation

SMB-focused vs enterprise-only

No usage fees vs $0.25/page

Same AI accuracy (GPT-4, Claude)

QuickBooks/Xero integration out-of-the-box

Easy Migration Path

Target Nanonets rejected customers (too expensive) - offer trial, data import via API

Research & Comparison Resources

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