Parascript identified as Leader in ISG’s Provider Lens™ Intelligent Automation Quadrant Report 2023
December 29,2023 – Longmont, CO | Parascript—a developer of intelligent capture software, driven by data science that processes over 100 billion documents annually—has been awarded the Leadership classification in the Intelligent Document Processing category of the 2023 ISG Provider Lens™ Intelligent Automation – Platforms and Products Report. ISG Provider Lens™ is a research series that combines empirical, data-driven research and market analysis.
The ISG Provider Lens™ Quadrant is ‘the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services across multiple geographies globally.’
Parascript’s FormXtra.AI was awarded the prestigious leader designation in the Intelligent Document Processing quadrant recognizing its FormXtra.AI software suite. Available as an SDK or a comprehensive workflow solution, FormXtra.AI is powered by state-of-the-art artificial intelligence technology. It seamlessly integrates numerous machine learning algorithms, intelligent Optical Character Recognition (OCR), and natural language processing (NLP) technology to effortlessly separate, classify, locate, interpret, and extract data from diverse documents. Parascript’s unique solution is capable of processing a virtually unlimited array of document types and layouts, ranging from printed documents to full pages of handwriting. It adeptly addresses challenges such as low-quality documents, complex tables, and pages with varied text styles, setting an unparalleled standard for accuracy in the industry. Parascript’s Smart Learning module enables the system to automatically maintain and improve processing accuracy on the fly.
“Parascript, with its broad proprietary intelligent document capabilities, is a preferred choice among enterprises in the intelligent document processing market,” said Ashwin Gaidhani, ISG Research Partner and lead author of the report.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data.
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