Slide background

Transactional Data Extraction

Increase Processing Efficiency and Reduce Time to Payment with Parascript

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.

improvement

Benefits

  • 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.

Invoice Processing

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. Parascript deep learning algorithms significantly improve accuracy of header and footer data to above 80 percent.

Receipt Processing

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.

document recognition

Claims Processing

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 deep learning algorithms improve out-of-the-box accuracy to the industy’s highest level.

Check Processing

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).

Signature Verification and Analysis

Parascript software automatically detects signature presence and protects against signature fraud with high accuracy rates against all types of forgery.

SignatureXpert’s advanced functionality combines multiple verifiers to analyze dozens of signature features and can use multiple references to differentiate between natural anomalies and true irregularities that indicate fraud.

Ready to Chat?

We’re all about relationships and figure a great way to start ours is by having a chat with you.  Please feel free to contact us as soon as you’re ready.

Contact Us or call us today at 303.381.3100

Need Technical Support?

We’re here to answer any questions you may have. Our technical support department is on hand and ready to assist your needs.

Call 888.772.7478 or email techsupport@parascript.com