Longmont, CO – Parascript, a pioneer in data extraction powered by machine learning, today announced survey results of 50 top Business Processing Outsource (BPO) executives on how their companies manage new complexities in document processing in the ever-expanding outsourcing landscape. The survey, underwritten by Parascript, was conducted by Lead to Market Research via phone interviews. For a full presentation of all research findings, please contact Parascript directly at [email protected].
Research revealed that 80 percent of those surveyed are turning to automation to remain competitive. “In response to industry growth and pressures to address increased document complexity, BPO leaders are looking to provide new service offerings with the most efficient high volume transaction processing,” said Mark Gallagher, Vice President of Sales at Parascript.
Study result highlights include:
- Top priorities for BPOs in 2018 for document processing include 40 percent focused on increasing revenue through new customer acquisition and 32 percent increasing revenue from new service offerings.
- 79 percent of BPOs are under pressure to lower the price of existing services from their current customers
- 64% of BPOs surveyed are considering artificial intelligence to enhance their data capture
The study also covers topics such as data accuracy and current automation capabilities.
Survey respondents offered a US-centric view with survey participants—vice presidents, directors and managers—from companies of over $500 million to billions in revenue.
For the survey results, or to access additional content on the changing nature of BPO document processing and explore how Parascript can help companies automate data extraction, email Parascript at [email protected].
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 Artificial Intelligence (AI) software processes any document with any data from any source with its easy-to-use, image-based analysis, classification, data location, and extraction technology. More than 100 billion documents for financial services, government organizations, and the healthcare and life sciences 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. Visit Parascript.