December 21, 2015 – Parascript, a leader in advanced data location, extraction and classification, reports an outstanding year in sales growth with continued product innovation, new partnerships and high-profile client wins. Demand for next generation data extraction and classification solutions that incorporate advanced machine learning and are cost-effective has escalated. This is due to the increasing need for automation and business intelligence to help organizations to extract and make use of key incoming data, placing Parascript at the center of this trend.
“Our success this year is due to the expertise of the Parascript team, our partners and our software capabilities,” said Mark Gallagher, Vice President of Sales. “Larger size deals and greater revenue from the US and European markets with carefully targeted offerings also played a role.”
Parascript’s successful year is a positive forerunner to 2016 as the company prepares to celebrate 20 successful years in business. “We have a unique story and team. Our R&D team—with many data scientists recruited from the most prestigious Russian Ph.D. programs—continually focuses on developing the most accurate pattern-recognition and image-analysis technologies to keep us at the forefront of innovation. Also, we are a small company, and our entire team—from our exceptional customer service professionals to product management and sales—easily adapt to provide new levels of service,” states Alexander Filatov, the Chief Executive Officer at Parascript.
2015 Year to Date Highlights
- Selected by several high-profile, large organizations to implement Parascript software solutions—including helping to streamline information management processes for a global leader in biotechnology.
- Advanced Transactional Data Extraction processes for checks, claims, invoices and receipts.
- Launched the information governance solution with advanced document classification focused on compliance, discovery, document migration and preservation.
- Introduced the Parascript Accelerator Program to enable business processing outsourcers and service providers to form comprehensive, risk-free partnerships with the company.
About Parascript, LLC
Parascript automates the extraction of meaningful, contextual data from image and document-based information to support transactions, information governance, fraud prevention, and business processes. Parascript 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. Our OEM and value-added reseller network partners integrate and distribute Parascript software in the U.S. and across the world. Visit Parascript online.
