Parascript
Parascript is a pioneer in intelligent document processing with advanced software solutions that leverage artificial intelligence to automate document classification, data location, extraction, and validation with high accuracy for complex documents.
Overview
Parascript specializes in advanced document automation solutions that leverage artificial intelligence, machine learning, and computer vision technologies. The company offers sophisticated software platforms for document classification, data location, extraction, and validation across a wide range of document types.
With over 25 years of experience, Parascript has established itself as a leader in intelligent document processing, particularly in handwriting recognition, signature verification, and complex document analysis. Their technology powers critical applications in industries where accuracy and efficiency in document processing are essential.
Parascript serves organizations in various sectors, including financial services, healthcare, government, insurance, and logistics. Their solutions help these enterprises automate document-intensive processes, reduce manual data entry, improve accuracy, and accelerate processing times while maintaining security and compliance requirements.
Key Features
- Advanced OCR/ICR/IWR: Recognition of machine print, handprint, and cursive writing
- Automated Document Classification: Identification of document types without templates
- Intelligent Data Extraction: Precise location and capture of relevant information
- Signature Verification: Authentication of signatures on documents
- Check Processing: MICR line reading and check information extraction
- Form Processing: Automated extraction from structured and semi-structured forms
- Unstructured Document Handling: Processing of free-form documents
- Self-Learning Technology: Continuous improvement through machine learning
- High Accuracy Rates: Superior recognition and extraction precision
- Validation and Verification: Intelligent confirmation of extracted data
Use Cases
Banking Document Processing
Financial institutions implement Parascript's technology to automate the processing of complex banking documents. The solution automatically classifies incoming documents (loan applications, account forms, checks) and extracts critical information including customer details, account numbers, transaction amounts, and signatures without requiring pre-defined templates. Machine learning algorithms analyze handwritten entries with high accuracy, while signature verification capabilities authenticate customer authorizations. Integration with core banking systems enables straight-through processing for clean transactions while flagging exceptions for review. This approach reduces document processing costs by up to 80%, accelerates transaction processing from days to minutes, improves data accuracy through elimination of manual entry errors, and enhances fraud detection through sophisticated signature analysis and document authenticity verification.
Healthcare Claims Processing
Healthcare organizations utilize Parascript to streamline claims processing and medical documentation handling. The system automatically processes diverse document types including claim forms, explanation of benefits documents, medical records, and supporting clinical documentation. Advanced recognition capabilities extract patient information, procedure codes, diagnostic information, and payment details regardless of form layout variations. The technology understands medical terminology and coding structures, enabling accurate mapping of extracted data to required fields. Built-in validation rules verify code combinations and identify potential compliance issues before submission. This implementation significantly reduces claims processing time from weeks to days, improves first-pass acceptance rates through more accurate submissions, reduces labor costs associated with manual review and data entry, and enhances compliance through consistent application of processing rules.
Technical Specifications
| Feature | Specification |
|---|---|
| Recognition Technologies | Advanced OCR, ICR, IWR, OMR |
| Machine Learning Capabilities | Supervised and unsupervised learning |
| Document Types Supported | Forms, checks, unstructured documents, mixed documents |
| Processing Throughput | Scalable from thousands to millions of documents daily |
| Integration Methods | APIs, SDKs, pre-built connectors |
| Deployment Options | On-premises, private cloud, hybrid |
| Accuracy Rates | Up to 99% for structured, 90%+ for semi-structured content |
| Language Support | Multi-language recognition capabilities |
| Output Formats | XML, JSON, CSV, PDF with searchable text |
| Validation Features | Configurable business rules, database lookups |
Getting Started
- Needs Assessment: Evaluation of document processing requirements
- Solution Design: Configuration based on document types and data needs
- Implementation: Deployment and integration with existing systems
- Fine-Tuning: Optimization for specific document workflows
- Ongoing Support: Continuous improvement and technical assistance
Resources
Contact Information
- Website: parascript.com
- Email: info@parascript.com
