Parascript is having good early success and a lot of interest generated in our Accelerator Program for BPOs for several appreciable reasons. We are offering to remove the significant risk associated with adoption and implementation of new capture technology and replace it with improved profit and the ability to address new markets. We are able to do this through a combination of software and services that Parascript is uniquely positioned to provide. Through advanced pattern recognition, machine learning techniques and image analysis technologies, Parascript focuses on solutions that deliver precise data extraction and validation.
What is interesting is that BPOs, just like any other business, have been conditioned to look at providers of technology as vendors and try to make comparisons of product features and capabilities. We get questions such as:
- “How do you compare to the industry leaders in document capture?” or
- “How does your invoice processing compare to vendor XY or Z?”
The answer from a functional point of view is that we compare very favorably. We can match every essential capability and more. But that’s not what’s most important because no vendor is going to offer either their software products or their services for no fee in return for guaranteed cost reductions. In fact, most vendors promise (and do not guarantee) efficiencies and performance levels that are rarely achieved, but this is only revealed if—and when—rigorous, statistically-valid analysis is done. Most vendors offer neither the level of expertise when it comes to image and data analysis nor the ability to develop new core imaging and recognition technologies specifically tuned to a client’s needs.
While the software and technology are important, these are only enablers of cost savings and efficiency improvements—they are not the end, but supportive of the means. We believe our technology is best-in-class, and we have proof. The real standard of measurement for comparison is the approach that we take; the staff expertise that we have, and the ability to tune technologies (even existing investments) to meet the needs of our clients. It’s a new paradigm that goes beyond software features and functionality and focuses on what your current technology and vendor are doing to ensure your investment is achieving the results that you need.
If you found this article interesting, you might want to read about our Parascript Accelerator Program for select BPOs.