Transactional Data Extraction
Parascript transactional data extraction solutions enable straight through processing (STP) to speed the processing of payments and other transactions. Parascript technology drives the elimination of manual data entry and addresses document processing challenges that occur due to variability in location of data, content sensitivity, time sensitivity, and downstream errors leading to higher efficiency and significant cost reductions.
Parascript software supports high volume, advanced document processing of invoices, receipts, remittances, checks, or any other type of transactional documents in a single stream. Parascript software auto-classifies documents and locates, extracts, and scores all key data fields for faster time-to-cash, as well as increased productivity, accuracy, and savings over manual keying costs.
- Gain immediate access to key data to streamline transaction-focused workflows since Parascript software easily integrates with ERP systems powering any document-centric or straight-through-processing.
- Collect payments faster and revenue after a sale by removing time-consuming processing delays through automation.
- Drive reduction in human processing time by eliminating the need for manual data entry.
- Ensure consistent tagging and organization of data through auto-classification.
- Increase accuracy and validate data from digital and paper documents using advanced business rules continuously enhanced through machine learning.
Parascript Invoice Data Extraction handles even slight nuances in invoices for simple, accurate automated data extraction. Parascript specializes in dealing with the high variability of invoices and their data layouts.
The Parascript Receipt Data Extraction module ensures the acquisition, classification, location, extraction and validation of receipt data regardless of how it is captured and regardless of the data that is on the receipt.
Parascript claims processing accurately recognizes and extracts machine print and handwritten claims, simultaneously capturing and verifying the input while helping you reduce costs and remain compliant with privacy regulations.
Parascript check capture and recognition enable users to efficiently process the full stream of documents for Proof of Deposit (POD) and remittance including traditional items like business and personal checks, cash tickets, deposit slips and money orders, as well as Image Replacement Documents (IRDs).
Check Processing & Signature Verification
Parascript software automatically processes different formats of banking documents having different backgrounds and noise; various styles of writing and text quality. This includes personal checks, business checks, deposit slips, substitute checks (IRDs), money orders, and travelers’ checks, as well as differently formatted forms. CheckPlus reads and cross-validates CAR/LAR, detecting possible mismatch and providing safeguard against check fraud. It also detects signature presence and protects against signature fraud with high accuracy rates against all types of forgery.
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