Parascript, which offers advanced capture software that processes over 100 billion documents annually, has been selected by KMWorld as one of the top 100 Companies That Matter in Knowledge Management in 2019. This marks the fourth consecutive year that Parascript has received this prestigious distinction by KMWorld.
“The 2019 KMWorld 100 list spans a wide variety of companies that are each addressing the evolving demands of knowledge management,” said Tom Hogan, Group Publisher of KMWorld. “Some are long-standing companies with well-established offerings that have evolved over time, while others are much more recent entrants to the field.”
A leading knowledge management (KM) publisher, conference organizer and information provider, KMWorld selects companies focused on innovative solutions. Every year, KMWorld presents the list, 100 Companies That Matter in Knowledge Management, compiled over the course of 12 months. This list focuses on companies that place a high priority on getting information to users when and where they need it while protecting this data from unauthorized access, according to Hogan. A few companies, like Parascript, included on this list also have newer capabilities leveraging the latest in artificial intelligence and applied machine learning.
“In selecting organizations to be included on the list, we consider insights gleaned from our own interactions with companies during interviews and events and how they have succeeded in helping customers solve business problems,” said Mr. Hogan. “We review product updates to make sure that capabilities are advancing to address evolving requirements.”
Key Benefits via KM Innovation
Parascript offers document classification and separation for complex processes such as mortgage automation as well as data location, extraction and verification for high-volume processing of machine print and handwritten documents. Parascript solutions provide three critical benefits in document automation:
Rapid Time-to-Live. Parascript FormXtra.AI offers an extremely rapid Time-to-Live capability because there is so little manual configuration to get up-and-running in production and without impact to the existing document workflow.
Operational Simplicity. Simply insert FormXtra.AI into your existing process and immediately benefit from higher accuracy data output for your business systems. Unattended machine learning with FormXtra.AI means greater accuracy and improved throughput as result of fewer technical requirements and less staff required to adapt to changes in documents or the process. Fewer specifically skilled or trained technicians are necessary to support the application, further reducing the risk.
Low error rate. Using Parascript FormXtra.AI increases efficiency in those business processes without changing a single task, simply by supplying more throughput that requires no manual handling due to exception processing. High accuracy results mean highly dependable data and no expensive corrections later in the workflow.
“We appreciate being recognized by KMWorld now over four consecutive years for our knowledge management solutions,” said Greg Council, Parascript VP of Marketing and Product Management. “This recognition underscores our commitment to our clients to improve straight through processing and reduce errors in their document classification and capture. We do this with minimal impact to existing operations. FormXtra.AI simply gets inserted into the existing digital framework and because of its minimal configuration and real-time adaptability, it provides high accuracy results even in the most dynamic production environments.”
KMWorld is the leading publisher, conference organizer, and information provider serving the knowledge management, content management, and document management markets. KMWorld informs more than 21,000 print subscribers about the components and processes — and related success stories — that together offer solutions for improving business performance. With access to many of the most knowledgeable writers and analysts in the industry, KMWorld also offers a number of special publications including the KMWorld Best Practices White Papers series — delivering high-value, educational content from industry-leading solutions providers, free from marketing hype and distraction, and the KMWorld Buyer’s Guide — a print and electronic resource that shortens the search for a vendor and helps identify sources for KM tools.
About Parascript, LLC
Parascript automates the interpretation of meaningful, contextual data from image and document-based information to support transactions, information governance, fraud prevention and business processes. Parascript provides Smart Learning advanced capture for any document with any data from any source with its easy-to-use, image-based analysis, classification, data location, data extraction and verification technology. More than 100 billion documents for financial services, government organizations and the healthcare industry are analyzed annually by Parascript software. Parascript offers its technology both as software products and as software-enabled services to our partners. Our BPO, service provider, OEM and value-added reseller network partners leverage, integrate and distribute Parascript software in the U.S. and across the world.