Everest Group PEAK Matrix™ for Intelligent Document Processing (IDP) Technology Vendors 2020 | Focus on Parascript

Everest Group recognized Parascript as a Major Contender in its Everest Group PEAK Matrix™ for Intelligent Document Processing (IDP) Technology Vendors 2020. Download your copy of Everest Group’s Intelligent Document Processing Products PEAK Matrix™ Assessment 2020 focused on Parascript.

Following another year of innovation in the industry, Parascript has been recognized as a Major Contender in the Everest Group’s 2020 Intelligent Document Processing (IDP) Products PEAK MatrixⓇ Report based on product capability, vision and market impact. Its IDP solution leverages proprietary machine learning algorithms for pattern recognition, image preprocessing, classification and data extraction.

Parascript offers pre-trained solutions for documents such as invoices, receipts and claims. Its ability to process handwritten documents in combination with enterprise-friendly features such as the ability to configure confidence levels, easy to use yet comprehensive learning features, and configurable user access control mechanisms have contributed to its success.

The Parascript vision is to enable enterprises to process a wide variety of unstructured data efficiently with less manual intervention. Its advanced capture solution has software learning capabilities that include document classification via clustering, automated training through ingesting a sample set of labeled documents with representative data sets and machine learning through a continuous feedback loop behind the scenes during document processing operations.

The Everest Group PEAK Matrix™ is a sophisticated framework developed by Everest Group to assess market impact, company vision and product capabilities. Everest Group defines Intelligent Document Processing (IDP) as “any software product or solution that captures data from documents (e.g., email, text, pdf, and scanned documents), categorizes and extracts relevant data for further processing using AI technologies such as computer vision, OCR, Natural Language Processing (NLP), and machine/deep learning.”