Veryfi Announces Mobile Receipt Capture for D2C Marketing Applications

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Veryfi has announced a further enhancement to its portfolio, with Mobile Receipt Capture for direct-to-consumer marketing applications.

Announced at the recent Retail Innovation Conference & Expo in Chicago, the new technology was introduced as part of the company’s latest AI-powered capabilities for consumer packaged goods and retail businesses in the global scale.

Veryfi’s technology enables organizations to capture, extract and transform documents such as receipts, invoices, purchase orders, checks, credit cards and W-2s into structured data at scale.

Using artificial intelligence (AI) technology to transform documents into structured data in a short period of time, Veryfi Lens technology enhances mobile receipt capture capabilities for clearer and more efficient customer service and communication.

The new technology has the ability to stitch long receipts into a single image, which will help improve image quality and the resulting SKU-level data retrieval.

Veryfi says providing a mobile software development kit (SDK) and the Receipts OCR API can provide functionality that unlocks use cases for marketing and consumer insights. They say this will make it easier for companies to determine new avenues for future growth and investment.

Those working in the retail and consumer packaged goods (CPG) industry can also leverage Veryfi technology for more personalization and customer retention options in their Direct Marketing campaigns and applications- To-Consumer (DTC).

Features also include the introduction of a structured format for 85 currencies, 39 languages ​​and 90 defined fields such as total, tax, VAT, SKU, supplier and invoice number, which can then be viewed for a wide variety of commercial applications.

Veryfi co-founder and CEO Ernest Semerda said that by promoting AI-based capabilities, the company will provide new opportunities for more accessible working systems and protocols within enterprises.

“Veryfi Lens is leading a new wave of innovative AI-powered capabilities for capturing mobile receipts in DTC use cases,” he said.

“No more multiple photos or clumsy guides using Veryfi Lens, our user customers simply swipe the phone over a long receipt and that’s it, all stitched together.”

The company is established in Oceania with an office based in Sydney. In Q1 2022, they gained a number of globally recognized clients, including the largest commercial real estate group in the southern hemisphere with $22 billion in commercial assets under management.

Reach CEO Mike Ribero, whose company uses Veryfi technology, says the impact on the brands they serve will be overwhelmingly positive.

“The Veryfi Lens SDK (software development kit) provides innovative capabilities to capture SKU-level receipt data and provide better insights to the global brands we serve,” he said.

“With a convenient, user-friendly experience for providing brands with their receipts, consumers get greater rewards while brands improve their understanding of consumer behavior.”

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