14 Rossum AI Competitors/Alternatives in 2023

Document processing is crucial in many industries such as finance automation and accounts payable. Alongside accounts payable AI (APAI) solutions, AI-driven Intelligent Document Processing (IDP) vendors such as Rossum capture attention. 

Rather than depending on conventional methods like OCR or preset templates for data extraction, Rossum employs AI that interprets documents in a manner similar to a human. Despite capabilities, Rossum may fall short in several areas such as line item recognition; configuration and more. In this vibrant market – a recent report projects APAI market spending to surge to $1.9 billion by 2025, a significant rise from $850 million in 2020- it can be hard to pick which way to go.¹ 

To facilitate your decision-making, this article explains Rossum AI alternatives and their features.We will examine a representative vendor for each category.

Rossum alternatives’ comparison

Rossum serves several different use cases. Based on the use case your business wants to implement, there are different alternatives:

Alternatives for AP automation with AI

Note: With the sponsors at the top of the list (Hypatos),  the table is sorted out based on the  number of reviews.

Alternatives in IDP and OCR

*For more information on Google’s pricing, check out: Document AI pricing.

Note: This table is sorted out based on the number of reviews.

Table features:

OCR software: OCR (Optical Character Recognition) is a technology designed to recognize and interpret text characters within images, such as those in printed books, photographs, or scanned documents. This technology transforms image-based text into computer-readable characters, enabling future editing, computing, and analysis.

Codes:

• No code: No-code platforms are designed for users with no programming knowledge. They provide a visual development environment where users can create applications using drag-and-drop components and pre-built templates.
• Low code: Low-code platforms require some degree of coding knowledge but significantly less than traditional development environments. They also offer a visual interface with drag-and-drop features but allow for more customization and complexity through limited coding.
• General code (traditional coding): This approach involves writing software using programming languages like Python, Java, or C++. It requires a comprehensive understanding of coding, logic, and development frameworks. 

Cloud-based & APIs: IDP & OCR services in the cloud allow users to upload documents to be processed on remote servers, making the tool accessible from anywhere with an internet connection. IDP & OCR APIs enable integration into larger systems or applications which allow automated text extraction from images within different software environments.

Vendor selection criteria

Rossum’s alternatives for AP automation with AI vendors are selected in following criteria:

• Number of employees: Vendors with 50+ employees
• Review numbers: Vendors that received 20+ reviews in major reviews sites of G2, Capterra and TrustRadius
• Average scores: Vendors with more than 4.5+/5 average score

Rossum’s alternatives in OCR and IDP are selected in following criteria:

• Review numbers: Vendors that received 5+ reviews in major reviews sites of G2, Capterra and TrustRadius
• Average scores: Vendors with more than 4+/5+ average score

Rossum overview

Founded in 2017, Rossum identifies itself mainly as an IDP vendor, utilizing technologies such as machine learning and NLP in document processing. As in accounts payable, Rossum’s technology offers end-to-end automation throughout many different industries. In finance, OCR use can trigger inefficiencies in case of deviations. The validation interfaces can be nonexistent and this can consume a lot of IT’s time. Rossum aims to fix these by empowering existing technologies with AI. Its software can recognize the design, specific language, and formatting signals in documents.

Solutions offered by industry

• Financial services
• Logistics & transportation
• Manufacturing
• Retail & CPG
• Business services/BPOs
• Healthcare
• Insurance
• Construction

Key features & capabilities

• AI-powered data extraction: Rossum’s AI can extract data from various documents. The understanding and processing of the content aims to mimic human-features.
• Cognitive data capture: Rossum’s software can recognize and understand the context of the information in documents, not just the data itself. This allows for more intelligent data capture.
• Layout agnostic recognition: Contrary to traditional OCR tools that depend on fixed layouts, Rossum’s AI can adapt to document layouts without the need for pre-defined templates.
• Validation interface: Rossum provides an interface for verification and correction of extracted data.
• Automatic learning: The platform learns from user interactions and corrections and feedback.
• Document type versatility: Rossum can process a wide range of document types, including invoices, purchase orders (POs), and receipts.
• Multi-format support: Rossum can process documents in various formats, including PDFs, scanned images, and electronic documents.
• Cloud-based: As a cloud-based platform, Rossum offers scalability, remote accessibility, and reduced infrastructure costs.

Pros

• Time saving (case study): Master Trust Bank of Japan dealt with extensive financial documentation, where accuracy was crucial due to regulatory and compliance demands. With 40 staff members, manual data entry was intensive, with each document taking up to 1.5 hours due to varying layouts. Implementing Rossum’s IDP platform, which blends open-source Japanese OCR with proprietary technology, cut the manual effort by 75%. Now, document validation averages 50 seconds, saving 27.5% of the time per document. ² 
• Minimal set up: It requires less initial setup and training compared to traditional OCR solutions, thanks to its AI-driven understanding of documents.³ 
• Integration: Rossum can integrate with existing ERP systems, business process management tools, and other enterprise software via APIs.

Source: G2⁴ 

Cons

• 3+ customers experienced problems regarding changes and complexities of APIs. 

Source: G2 ⁵ 

• Users claim that Rossum can have trouble handling large amounts of documents.⁶ 
• 2+ customers pointed out to the issue that Rossum can have trouble in reading line-items.

Source G2⁷ 

Alternative for AP invoice processing analysis

Hypatos

Thanks to its GPT-based accounting system, Hypatos’ software is capable of capturing, categorizing, and verifying details on invoices, and it can align the data from invoice line items with corresponding items in one or several purchase orders (POs). The software’s models are designed for ongoing learning and can be tailored to a company’s specific data needs, enabling a high degree of automation with AI.

Key features & capabilities

• Deep learning technology: Hypatos utilizes deep learning algorithms to understand and process documents. This approach allows for higher accuracy in data extraction compared to traditional OCR methods. The platform is capable of processing complex documents like invoices, contracts, and receipts, not just extracting text but also understanding the context and semantics of the content. 
• Custom model training: Hypatos allows for the training of custom models using the company’s unique data sets to achieve an autonomously operating model with relevant results.
• Continual learning: Hypatos’ AI models continually learn and improve over time with feedback.
• API integration: With the API integration capabilities, Hypatos can fit into existing IT ecosystems.
• Global language support: Hypatos is designed to process documents in multiple languages, making it suitable for global businesses operating in diverse regions. 
• Data extraction and validation: The software not only extracts data but also validates it, ensuring compliance.

Pros

• Ease of use. 4/10 user reviews in G2 suggest that the software offers easy implementation. One user summarizes these ideas with a comment about the low learning curve of the software interface.⁸ 
• Enterprises have varied needs when it comes to the data they extract from documents; for instance, a business might need to record the details and costs associated with purchased items as listed on invoices. Hypatos’ Continual Learning feature simplifies the acquisition of such new data fields from documents, as the system can adapt and learn from the input provided by users.

Cons

• The free trial of the software provides a limited amount of data for users to operate functionally.⁹ 

No code alternative analysis

Docsumo

Docsumo is a document processing and data extraction tool that utilizes OCR and AI to automate the conversion of unstructured documents into actionable data. Its ability to analyze and categorize information minimizes manual data entry.

Pros

• With integration capabilities, Docsumo stands out for its ease of use in reviewers eyes.

• Extraction capabilities: 4+ users praised Docsumo’s extraction due to its accuracy and time-saving characteristics.¹⁰ 
• The platform’s scalability and the responsive customer support add to its appeal, particularly for companies aiming to streamline their document workflow and enhance productivity.¹¹ 

Cons

• Formatting issues are underlined by the users.¹² 
• Limited number of files to be approved at once.¹³ 
• Limited credits: 4+ users disliked the limited credits offered by Docsumo.

Source: G2 ¹⁴ 

If you are looking for a no code software, check out our benchmark: “Top 7 No-Code Software in 2023”

General code-based IDP alternative analysis

Amazon Textract

Amazon Textract is a service by AWS that leverages machine learning to extract text and data from scanned documents. It goes beyond traditional OCR capabilities by identifying the contents of fields in forms and information stored in tables. 

Pros

• Its deep integration with other AWS services further enhances its appeal, offering a scalable and comprehensive solution for businesses invested in cloud infrastructure and looking to harness the power of AI for document analysis.
• Textract can extract data with a unique ML technology from templates and offers reach to thousands of free templates.¹⁵ 
• Accuracy. Users point out that Amazon’s APIs have high accuracy in extracting data.

Source: G2 ¹⁶ 

Cons

• The APIs response can be hard to understand for customers.

Source: G2¹⁷ 

• Format recognition. 2+ users underlined the issue that Textract, from time to time, is not able to understand the necessary format.¹⁸ 

Further reading

If you need help finding a vendor or have any questions, feel free to contact us:

Find the Right Vendors

External Links:

1. “Market Guide for Accounts Payable Invoice Automation Solutions.” Gartner. Retrieved on November 14, 2023. 
2. “master trust bank of japan” Rossum. Retrieved on November 14, 2023. 
3. “Rossum Reviews” G2. Retrieved on November 14, 2023. 
4. “Rossum Reviews” G2. Retrieved on November 14, 2023. 
5. “Rossum Reviews” G2. Retrieved on November 14, 2023. 
6. “Rossum Reviews” G2. Retrieved on November 14, 2023. 
7. “Rossum Reviews” G2. Retrieved on November 14, 2023. 
8. “Hypatos Reviews” Capterra. Retrieved on November 14, 2023. 
9. “Hypatos Reviews” Capterra. Retrieved on November 14, 2023. 
10. “Docsumo Reviews” G2. Retrieved on November 14, 2023. 
11. “Docsumo Reviews” G2. Retrieved on November 14, 2023. 
12. “Docsumo Reviews” G2. Retrieved on November 14, 2023. 
13. “Docsumo Reviews” G2. Retrieved on November 14, 2023. 
14. “Docsumo Reviews” G2. Retrieved on November 14, 2023. 
15. “Amazon Textract Reviews” G2. Retrieved on November 14, 2023. 
16. “Amazon Textract Reviews” G2. Retrieved on November 14, 2023. 
17. “Amazon Textract Reviews” G2. Retrieved on November 14, 2023. 
18. “Amazon Textract Reviews” G2. Retrieved on November 14, 2023.