When it comes to data extraction, there are plenty of tools on the market. However, the most effective data extraction software should be able to parse raw data from one or more locations, format it to match your requirements, and load it into an output file to be used for reporting or other business purposes. To help you decide which parsing tool is right for your business, let’s take a look at the best data extraction software in 2021. Let’s jump right in.
Docparser
Docparser tops our list because of its flexibility, feature set, ease of use, and competitive pricing. First, let’s speak of its flexibility. While many other options on this list target specific use cases (e.g., purchase orders, invoices, etc.), Docparser uses a template-based system that allows you to extract data from a vast range of documents. Docparser comes with tons of common use-case presets built in — from invoices to bank statements and everything in between. If you need to parse data from a document type that is not included in the built-in presets, you can easily create your own set of parsing rules that tailors to your needs.
Docparser is easily one of the most feature-rich options on the list and offers:
- Barcode and QR-code detection
- Checkbox/radio button detection
- Batch file uploads
- Integrations with hundreds of cloud based apps
Regardless of your budget, Docparser offers a pricing plan for everyone. Docparser offers four paid plans starting at $39/month. You can view Docparser full pricing here.
Note: If you are looking for a tool that allows you to parse data from emails and attachments, check out Docparser’s sister company, Mailparser.
Rossum
Rossum leverages the power of artificial intelligence to capture and extract data from predefined fields and allow users to add their own custom fields. While Rossum’s machine learning technology can prove effective in the long run, it does take time and developer expertise to get software up and running optimally. Rossum is also geared more specifically to a handful of document types such as purchase orders, invoices, and receipts.
While Rossum pricing is not readily available on their website, machine learning technology is usually pricey. For more information, check out this comparison of Docparser vs Rossum.
Ephesoft
Much like many of the other options on this list, Ephesoft uses artificial intelligence and machine learning technology to capture and extract data from specific types of documents. Ephesoft is targeted towards customers who have a large volume of invoices, records, contracts, mail, and claims. Machine learning technology takes some effort to set up and takes time to function optimally. Ephesoft is best suited for companies who have the resources to hire a developer. Like Rossum, pricing for Ephesoft is only available upon request.
Kofax Capture
Founded in 1985, Kofax has been in the data automation industry for quite some time. Kofax’s Capture software uses AI and machine learning much like the other options on this list to extract data from specific document types. While the Kofax Capture software is powerful, it is also more complicated to use and may require a bit of a learning curve for new users. Pricing for Kofax is only available upon request.
Data entry is a tedious process that can be extremely time-consuming, so adopting a data extraction tool can save businesses a ton of time, resources, and money. If you’re looking for more information on data extraction, check out these Docparser Alternatives.
