Revolutionizing Receipt Management with Indy

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Published on:
Jan 5, 2024

The Mindee Team

The Mindee Team


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Mindee’s receipt API is “easy to use, the performance outstanding” - Boris Chabilan, Lead Product Manager at Indy

Founded in 2016, Indy's mission is to simplify the lives of the self-employed. From business inception to tax declaration, including day-to-day management like invoicing, expense reports, and accounting, Indy is an all in one application for independent professionals.

A recurring task for Indy's clients involves storing receipts for expenses and accurately entering VAT details from these receipts into their bank transactions. The most desired feature, as per customer feedback, was the ability to take a picture of the receipt immediately upon payment and have Indy automatically attach this document to the relevant bank transaction.

The Solution: Mindee’s Receipt API

In the search for an API to automate the extraction of crucial information from receipts – and therefore significantly ease the user's workload – Indy conducted a thorough benchmarking of six providers, focusing on technical performance and accuracy.

Happily, Mindee’s Receipt API – emerged as a top performer in date and total amount detection, including VAT detection.

The tech is based on Optical Character Recognition (OCR) – technology that can transform an unstructured image of a receipt into structured data. In under a second, the API can extract a set of data from PDFs or photos of receipts from all around the world, including:

  • Expense category & subcategory
  • Locale & currency
  • Receipt date & time
  • Supplier name, address & phone number
  • Supplier company registrations
  • Taxes details
  • Total tax
  • Tip & Gratuity (typed and handwritten)
  • Total amount (typed and handwritten)
  • Total net (excluding taxes)
  • Line items

Integration and Impact

We provide sample code in several popular programming languages, including Python, Node.js, Ruby, and even HTML/JavaScript for web applications. This flexibility meant Indy could integrate the OCR functionality in a way that fit best with their existing tech stack.

According to Indy, the API's ease of use and exceptional performance have led to impressive results:

  • 95% accuracy in date detection
  • 91% accuracy in total amount detection

These metrics underline the API's effectiveness in improving receipt management, a crucial aspect of Indy's comprehensive suite of services.

Revolutionize Your Document Processing

We’re happy to report that Indy sees Mindee as an irreplaceable partner for receipt OCR and envisions extending Mindee's technology to other document-related use cases, aiming to further streamline information extraction processes.

“I couldn’t imagine any other partner for receipt OCR in the future [...] I could imagine extending Mindee’s technology to other use cases that we have, with the target of saving time finding information on documents.” - Boris Chabilan, Lead Product Manager at Indy

Indy's integration is a testament to the transformative power of AI in document management. With a little help from our API, Indy has achieved remarkable efficiency and accuracy in handling receipts and financial documents, setting a new standard in the industry.

Are you looking to empower your document processing capabilities with AI, just like Indy? Experience the breakthrough performance of Mindee firsthand. Get started here or reach out to our experts.

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