October 21, 2013, LONGMONT, Colo. – Parascript®, LLC, a leading recognition technology provider, today is announcing FormXtra® and FormXtra Capture 5.4 with new features for classifying forms and documents and recognizing machine print, handprint and cursive writing on them, giving businesses the ability to more easily obtain information.
The technology’s robust, new features include unstructured handwritten keyword and phrase identification and extraction, allowing organizations to locate and utilize key information from handwritten notes. This information can be used for document classification and routing, sentiment analysis for customer service and business intelligence, or content tagging for archival and governance. The software also combines signature location detection and verification, all in one package.
With this latest announcement Parascript builds on its full-featured FormXtra products with:
- Mixed structured, semi-structured and unstructured document capture: Recognize any data type, on any document format including critical handwritten information found in undefined locations.
- Dynamic signature location, verification and matching: Locate signatures on documents and classify or verify them against a reference signature database. Extract these signatures for creation of a signature database (i.e. on account applications). Supports legal, mortgage, healthcare, vote by mail and other compliance-based applications.
- Unstructured handwriting keyword and phrase classification and extraction: Locate handwriting content/keywords that are not in a structured format (including expressive or transactional phrases such as “change of address”) in comments in margins, notes, etc. to help classify or tag documents.
- Expanded health claims processing support: Out-of-the-box support for new CMS 1500 and 1450 forms, along with invoices and checks.
With the announcement, Parascript continues its mission of supporting its value added reseller partners by empowering them to provide their customers with best in class technology.
“As we look at the market we see a lot of solutions that are very good at doing just one or two things. This is problematic however, because many of the critical documents an organization receives contain multiple data elements, such as machine print and cursive writing or the presence of a signature that needs to be validated. FormXtra and FormXtra Capture 5.4 consolidate many of Parascript’s core technologies in order to provide a solution that allows greater access to information,” said Alexander Filatov, Parascript’s president and chief technology officer. “By integrating these technologies we are providing our resellers more options from one solution, which enhances their competitiveness and reduces implementation barriers.”
FormXtra Capture is Parascript’s complete, standalone capture and recognition solution that value added resellers can use and resell. FormXtra is designed to enable OEMs and software integrators to add new functionality to their solutions and ensure integration with other systems through its expanded API capabilities.
Both are currently available. For more information, please visit www.parascript.com or contact Parascript at 303-381-3100.
About Parascript, LLC
Parascript is a leading developer of intelligent document recognition (IDR) solutions. Drawing from a long history of cursive and handprint recognition, Parascript’s high-value solutions are powered by software that is always learning — constantly maximizing the user’s return on investment. Parascript enables business automation in forms processing, postal and financial automation, and fraud prevention, and supports cancer screening in medical imaging. Fortune 500 companies, postal operators (including the U.S. Postal Service), major government and financial institutions rely on Parascript software, which is distributed through its OEM and value added reseller networks, including partners such as: IBM, EMC, Bell and Howell, Fiserv, Selex Elsag, Lockheed Martin, NCR, Siemens, and Burroughs. Visit Parascript online at https://www.parascript.com.