Document Automation for Business Process Outsourcing
AI-based document automation and digital workforce
Automation is important to customers when choosing BPOs
Customers evaluating BPOs see automation as a deciding factor when selecting a vendor. In “The State of Outsourcing 2024” published by CMSWire, 73% of responders say that AI capabilities are a moderately important or very important feature when they’re considering outsourcing vendors. As more customers embrace generative and predictive AI in-house, they’ll expect their vendors to do the same.
Customers benefit from AI, and they expect BPOs to utilize the same technologies to increase efficiency and accuracy, all at a lower cost to them.
Every IDP might capture data, but our products learn and improve on your documents
Achieve high levels of true unattended automation with tailored solutions and a customer-focused support team. Processing documents efficiently and with high accuracy is critical for your business. With the renewed focus on robotic process automation, the ability to offer straight-through processing improves your bottom line and enhances the competitiveness of your service offerings.
Over the past 30 years, Parascript has developed in-depth expertise in applied machine learning to automate document-intensive tasks. We have helped reduce manual efforts and reduced payment transaction costs by over 85% and enabled government posts to achieve greater than 95% unattended automation.
Parascript Smart Learning
Smart Learning is our latest advancement in the world of document automation. Parascript Smart Learning allows your organization to significantly reduce the costs and complexity of configuring and optimizing your document automation tasks.
Using only tagged sample data, Smart Learning can automatically configure image optimization, document identification (classification), separation, and data extraction. The system automatically analyzes the output data to set document and field level accuracy thresholds that ensure your data meets stringent SLA requirements.
We offer tailored software solutions designed specifically for BPOs, and offer a unique partnering program for select BPOs that takes the partnership to an entirely new level.
We want to automate at the highest rate possible to help you close more deals and provide better service with accurate document data. Let us show you how our software accomplishes this and more.
Inc. 5000 BPO Reduces Data Entry Costs By 90 Percent
An established Business Process Outsourcer (BPO) founded over forty years ago, this Inc. 5000 company has widely expanded its service offerings, staff and facilities. Today, it is one of America’s fastest growing privately held companies.
Due to rapid growth, the company was experiencing significant data entry costs among other challenges. Parascript reduced labor costs by 50 percent initially and ultimately by 90 percent.
All-in-one document automation
FormXtra.AI Capture is a all-in-one solution for BPOs who want seamless document classification, extraction, and validation in one product. Poweredadvanced machine learning and continually improves thanks to propreitary Smart Learning technology, it drastically reduces configuration time from months to hours. This user-friendly system minimizes complexity and costs by automatically setting up image perfection, classification, and data extraction rules.
FormXtra.AI continuously learns and adapts to new data streams, ensuring ongoing performance without manual intervention. This makes maintaining your system easy despite a dynamic document environment. Streamline document processing, cut operational costs, and enhance efficiency with FormXtra.AI Capture. With document automation that just works, you can focus on delivering exceptional service to your clients.
Improve data and handwriting capture in your current system
Happy with your current system but only need to improve the document processing capabilities? Parascript offers solutions that eaily embedd into any system to improve Intelligent Document Processing (IDP) capabilities as well as improvement of handwriting capture and other document-related needs.
In order to meet the needs of all BPOs, Parascript has worked with countlesws BPOs and managed service providers to understand their needs and provide solutions that achieve their goals on their terms. Avoid unnecessary expense and software bloat and choose the exact document capture solution that you need with the help of Parascript.
Parascript Accelerator Program for select partners
The Parascript Accelerator Program is a unique program for select BPOs that eliminates the risks of technology adoption and ongoing maintenance while returning guaranteed cost savings to our clients. Unlike typical software providers, we prove our value prior to payment and ensure software performance throughout the life of our partnership.
We provide this value through a combination of our proprietary machine learning platform along with our in-depth experience working with the largest services providers. We solve your data and document processing challenges, which allows you to focus on exceptional process outsourcing.
Key Benefits
- Data analysis and optimization designed to meet your specific SLA requirements.
- Ongoing partnership provides maintenance and improvements that ensure continued profitability and customer satisfaction.
- Proven track record from large-scale projects for government agencies to projects for some of the largest financial institutions in the world with check processing saving tens of millions of dollars each year.
Why is straight-thru processing the goal?
Straight-through processing (STP) is a hot topic with automation, and it’s no different with IDP. Why is it a big deal? STP means processing documents and capturing data automatically without having people step in during any part of the process. It requires a well designed system with technology that goes above and beyond to learn the nuances of a document workflow. We developed Smart Learning to continually improve when a human or a system provide guidance on an exception. Businesses must strive for STP because it speeds things up, reduces mistakes, and cuts costs while systems run smoothly and longer. Parascript strives for this efficiency boost so companies can serve customers better and stay ahead in their market.
Parascript Automation for Invoices, Receipts & Claims
Parascript excels in invoice processing, claims processing, government forms and receipt processing. Over the past 20 years, Parascript has become known for our large-scale projects for the government and large financial institutions that reduce the costs associated with manual labor to sort, classify, and perform data entry (or indexing) by 50% or more.
Reduce Manual Data Entry Costs by 50%
We analyze the costs associated with manual labor to sort, classify, and perform data entry (or indexing) to process invoices, receipts, claims, applications and other types of forms for select BPOs and service providers. Typically, we reduce these costs by 50 percent or more on large-scale projects through automation while significantly improving accuracy and decreasing processing time.