A deep dive into Parashift's Intelligent Document Processing for ISVs

In the dynamic landscape of digital transformation, Independent Software Vendors (ISVs) are increasingly turning to Intelligent Document Processing (IDP) solutions to optimize workflows, reduce manual data entry, and enhance data accuracy. In this fast-paced environment, the integration of Parashift’s IDP Platform stands out as a game-changer for ISVs seeking innovation and efficiency.

By offering IDP, ISVs can help their customers streamline operations, improve customer experiences, and gain a competitive edge in the market. This strategic move not only strengthens the ISV’s product portfolio and optimise their product offering but also positions them as innovative leaders in the realm of digital transformation.

Parashift’s IDP Platform is designed to do just that.

3 things that ISVs must know about Parashift Platform:

1. Parashift Platform is hosted on the cloud
   Embrace Parashift’s cloud-first strategy to equip ISVs with a robust platform that scales effortlessly, meeting customer demands with flexibility and efficiency. The cloud infrastructure simplifies deployment, enhances security, and ensures adaptability to changing market conditions, making it an essential component of modern, resilient software solutions.
   
   
   
2. Parashift Platform is fully EU-GDPR compliant, fully ISO 27001 certified, and more
   
   For ISVs, compliance is key. Parashift’s commitment to compliance and its modern cloud infrastructure provide ISVs with the assurance that they can offer a secure and compliant document processing solution. This adherence to international standards makes Parashift an ideal partner for ISVs looking to build trust and reliability in their software solutions.
   
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3. Parashift Platform learns from all documents at fields level
   

For ISVs, the integration of Parashift’s advanced AI means providing their customers with a next-generation intelligent document processing solution. Parashift’s proprietary Document Swarm Learning technology ables the feedback to be collected across clients, tenants, document types, fields and more. While never sharing any personal information between these entities, this allows Parashift to constantly train and evolves all algorithms, bring out-of-the-box intelligence and learn faster. The technology’s ability to learn translates into superior accuracy and speed in document automation, setting ISVs apart from competitors with traditional offerings.

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By focusing on these advantages, ISVs can confidently offer Parashift’s IDP platform as a value-added feature within their own software suites, ensuring their customers benefit from the latest in document processing technology while adhering to global compliance standards.

What sets Parashift Platform apart from legacy solutions?

Parashift is unlike anything else on the market. As the first enterprise-ready, cloud-native, AI-powered platform for intelligent document processing, it is pioneering in many areas.

1. Ultra short time to solution:
   1 day versus 2 weeks with legacy solutions
   
2. One solution for all IDP needs:
   More than invoices – savings 95% per additional use case.

“There are hundreds of solutions focusing on reading invoices, but very few that truely capture the full spectrum of business documents. We’ve built Parashift to be the global to-go solution for all Enterprises that process hundreds of document-types in a secure and cloud-native way with AI.”

Alain Veuve, CEO of Parashift

3. High out of the box accuracy:
   >90% out of the box versus < 30% with legacy solutions.
   

Total impact: Reduce your time to solution and operating costs by >80%.

Intelligent Document Processing pushed to the highest level: The 6 things ISVs can do with Parashift Platform

Parashift Platform empowers ISVs with advanced capabilities:

1. Document Quality Improvement
   Parashift Platform corrects wrong page orientation, auto crop images, remove unwanted background.
   
2. Document Dissection
   Parashift Platform categorises any text on a document onto generalised entity types like date, amount, addresses, duration, person, organisations, percentage and more.
   
3. Document Separation
   Parashift Platform automatically separates a batch of documents intelligently by bar code or intersection page.
   
4. Document Classification
   Parashift Platform automatically and intelligently assigns the correct document types by text or/and images, classifying between 2 or up to 400 different standard and client specific document types.
   
5. Document Extraction
   Parashift Platform automatically and intelligently extracts and structures data from structures, semi structures, or unstructured documents like addresses, references, amount, tables, signatures and more.
   
6. Lists documents
   Parashift Platform filters, sorts and lists processed documents save customs filters for easy re-use and work management.

For which use cases could ISVs’ customers need Parashift Platform? Let’s take the example of the Mailroom.

Imagine transforming your customers’ mailroom operations from a challenge into a strategic advantage with Parashift Platform. In today’s business landscape, the demand for digitizing the mailroom is escalating, and companies are recognizing the urgency. The ever-growing volume of documents poses a significant hurdle, making manual capture, filing, and processing an insurmountable task. In this scenario, process optimization becomes a linchpin for success, irrespective of the industry.

Now, picture the unparalleled advantages you could offer your customers through mailroom automation with Parashift:

1. Versatility with 500 Document Types: Enabling your customers to effortlessly classify documents into various categories, ensuring a tailored approach to their unique needs.
   
2. Precision Data Extraction: Extracting relevant data from documents with utmost precision, enhancing accuracy and efficiency in their operations.
   
3. Seamless Backend Processes: Empowering your customers to trigger backend processes seamlessly, streamlining their workflow and boosting overall efficiency.
   
4. RPA Compliance and Procedures: Ensuring compliance with Robotic Process Automation (RPA) standards and procedures, providing a future-proof solution aligned with industry best practices.
   
5. Secure Data Processing: Parashift is engineered to handle all data, regardless of sensitivity, in a secure and privacy-compliant manner. Your customers can trust that their information is handled with the utmost care and adherence to data protection standards.

By adopting Parashift Platform for mailroom automation, your customers not only meet the pressing need for digitalization but also gain a competitive edge in their industry. Revolutionize their operations, enhance efficiency, and lead the way to a future where document processing is not just automated but optimized for success. Partner with Parashift and make the transformation your customers deserve.

Fast path to value guarantee: As an ISV, I want to use the Parashift Platform. How does it work?

We offer 3 months combined PoC and ramp-up-period.

6 steps:

1. Sign your subscription, we will bill the 3 months in advance
2. Take the onboarding and define your ROI criteria
3. Your team and Parashift set sail to bring the first use cases to success
4. After 3 month you decide wether Parashift brings you value or not
5. If not, no further obligations arises for you, the subscription ends.
6. If Parashift fulfils your needs and delivers value, the subscription continues automatically for the remaining subscription period.

Contact our experts for more information.

By focusing on the advantages outlined, ISVs can confidently offer Parashift’s IDP platform as a value-added feature within their software suites. This positions them at the forefront of innovation, ensuring their customers benefit from the latest in document processing technology while adhering to global compliance standards.

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