Small teams needing fast bank statement-to-spreadsheet conversion
Purpose-built for bank statements, fast Excel/CSV export, easy setup, accounting-friendly workflows
Hypatos
Large enterprises needing deep-learning OCR for financial reports
AI OCR for financial statements, automates classification + validation, ERP/RPA integrations
Docsumo
Teams needing fast, accurate bank statement extraction
Built for bank statements, clean spreadsheet exports, simple workflows, good accuracy
1. InvoiceOCRSoftware.com
InvoiceOCRSoftware.com is a strong choice for teams that need fast, accurate OCR for financial statements without a complicated setup. It can read key fields, tables, totals, and structured data from statements in almost any layout. The platform keeps things simple, which makes it easy for small teams and growing finance departments to automate data extraction and cut down on manual work.
Key Features
High-accuracy OCR for financial statements and supporting documents
Table and line-item extraction with clean, structured formatting
Email and cloud import options for easier document handling
Exports to Excel, CSV, and popular accounting tools
Things to Consider
Fewer workflow features compared to large enterprise platforms
Custom integrations may need some technical support
Pricing
Standard: $29 per month for 1 user and 100 pages
Scale: $3,950 per year for 10 users and 42,000 pages with API access
Enterprise: Starts at $20,000 per year with unlimited pages and ERP integrations
2. Lido
Lido uses AI-powered OCR to turn financial statements into clean, ready-to-use spreadsheets with very little effort. It handles both scanned and digital PDFs, which makes it a practical tool for accountants, finance teams, and auditors who need fast and accurate data extraction.
Key Features:
Converts financial statements into Excel or CSV files
Works with scanned documents and native PDFs
SOC 2 and HIPAA compliant with AES-256 encryption
Pros:
Strong accuracy even on detailed or complex statements
Quick to set up and easy for new users
Offers a free trial with 50 pages included
Cons:
No mobile app at the moment
Export formatting options are limited
Pricing:
Standard: $29/month for one user and 100 pages
Scale: $4,950/year for 10 users and up to 42,000 pages with full API access
Enterprise: Starts at $25,000 per year with unlimited pages, ERP integrations, and dedicated onboarding support
3. OCRFinancialStatements.com
OCRFinancialStatements.com is built to convert long, detailed financial reports into clean, structured data without manual work. It’s aimed at finance teams that process statements often and want quick, reliable extractions. Upload your files and the AI organizes everything into usable formats.
Key Features
Designed specifically for balance sheets, income statements, and cash flow statements
Handles scanned files, digital PDFs, and multi-page reports
Pulls out totals, line items, and key financial figures automatically
Exports to Excel, CSV, or connected systems
No setup or training needed to get started
Pros
Steady accuracy even with different report formats
Straightforward workflow that reduces manual input
Fits easily into existing reporting routines
Things to Consider
Limited options for custom data mapping
Bulk uploads available only on higher plans
No built-in analytics or dashboard features
Pricing
Standard: $29 per month (1 user and up to 100 pages)
Scale: $3,950 per year (10 users and up to 42,000 pages with API access)
Enterprise: Starts at $20,000 per year with unlimited pages, ERP integrations, and dedicated support
4. Nanonets
Nanonets uses AI-driven OCR to pull structured data from financial statements, even when the layouts are messy or inconsistent. It’s a helpful option for teams that work with handwritten notes, low-quality scans, or mixed document types and need automation that can grow with their operations.
Key Features
Pre-built AI models tailored for financial document extraction
Supports PDFs, images, and scanned files
Cloud platform with easy API connectivity
Pros
Reads handwritten or poorly scanned statements better than many tools
Designed to scale for larger teams and enterprise workloads
Cons
Pricing may feel complicated for smaller users
Some advanced capabilities are only available in higher-tier plans
Pricing
Free: Comes with $200 in credits
Pay-as-you-go: No subscription, billed per workflow block
Volume Plans: Custom pricing with discounted rates for annual or high-volume usage
5. Rossum
Rossum is an AI-driven document processing platform built for organizations that handle large amounts of financial paperwork. Its adaptive engine reads statements, invoices, and reports without relying on templates, so it can work with many different file types and layouts right away.
Key Features
AI extraction that doesn’t require predefined templates
Optional human review to fine-tune accuracy
Connects with ERP, RPA, and workflow automation systems
Pros
Handles inconsistent and unstructured documents well
Minimal ongoing maintenance compared to rule-based systems
Cons
Works best after an onboarding period to fine-tune the model
Pricing is geared toward higher-volume use
Pricing
Entry plans start around $18,000 per year
Enterprise plans include custom pricing based on volume and integrations
6. ABBYY FlexiCapture
ABBYY is one of the most established names in OCR. FineReader is ideal for individuals or smaller teams looking for accurate document conversion, while FlexiCapture supports enterprise-level financial document processing with more advanced automation options.
Key Features
High-precision OCR that preserves formatting
Strong extraction and validation tools for finance teams
Integrates with ERP, RPA, and regulatory compliance systems
Pros
Consistently strong OCR performance
Suitable for businesses of all sizes
Cons
The interface may feel overwhelming at first
FlexiCapture can be costly for smaller teams
Pricing
FineReader: Starting at $99 per year for Standard, $165 per year for Corporate, and $69 per year for Mac
FlexiCapture: Enterprise pricing begins around $4,150 and can exceed $12,000 to $40,000+ depending on volume and features
7. Chronoscan
ChronoScan is designed for teams that need to process large batches of documents quickly. Finance departments that regularly work with bulk financial statements or archived reports often rely on it for its batch-processing speed and automation tools.
Key Features
Batch OCR for processing large volumes of documents
Converts extracted data into structured formats
Includes tools for classification and workflow automation
Pros
Effective for high-volume environments
Supports automated sorting and data capture
Cons
The interface feels older compared to newer cloud-based tools
Best fit for enterprise teams rather than small businesses
Pricing
Professional: €245 one-time license
Advanced: €595 one-time license
Enterprise: Custom pricing depending on deployment and scale
8. DocuClipper
DocuClipper focuses on converting financial documents, particularly bank statements, into ready-to-use spreadsheets. It’s built with accountants and small finance teams in mind and keeps the process simple from upload to export.
Key Features
Purpose-built OCR for bank statements
Quick conversion to Excel or CSV
Designed around common accounting workflows
Pros
Very easy to learn and set up
Affordable option for smaller teams
Things to Consider
Limited to bank statement extraction
Does not include broader enterprise OCR capabilities
Pricing
Starter: From $27 per month for 120 pages
Professional: From $52 per month for 280 pages
Business: From $111 per month for 640 pages
Enterprise: Custom pricing for higher volumes and API access
9. Hypatos
Hypatos uses deep learning to automate financial document workflows, pulling accurate data from balance sheets, income statements, and audit reports. It’s designed to cut down on manual checks and streamline high-volume processing.
Key Features
AI OCR optimized for financial statements and related reports
Automates classification, extraction, and validation tasks
Integrates with ERP, RPA, and accounting platforms
Pros
Strong performance with structured and semi-structured financial data
Reduces manual checks with built-in validation steps
Scales well for large financial operations
Things to Consider
Best fit for mid-sized and large enterprises
Custom model setup may require training and onboarding
Pricing
Fully customized enterprise pricing based on document volume and integration complexity
10. Docsumo
DocuClipper focuses on one core job: turning bank statements into clean, structured spreadsheets with minimal effort. It’s built for accountants and small finance teams that need fast, accurate transaction data without wrestling with messy PDFs or manual typing.
Key Features
Purpose-built OCR for bank statements
Quick export to Excel or CSV
Designed to fit common accounting workflows
Pros
Simple to get started and easy to use
Affordable option for smaller teams
Things to Consider
Primarily supports bank statement extraction
Not designed for broader enterprise document processing
Pricing
Starter: From $27 per month for 120 pages
Professional: From $52 per month for 280 pages
Business: From $111 per month for 640 pages
Enterprise: Custom pricing for higher volumes and API access
We hope you now have a better understanding of how to choose the right invoice recognition software for your business.
