Switzerland 08 March 2022 – Parashift, a provider of advanced machine learning-based software for extracting data from documents, announces its partnership with Arcplace, one of Switzerland’s leading IT service providers for document management and archiving. Through this collaboration, companies of different sizes and industries will gain access to unique document extraction technologies that, when combined with Arcplace’s local validation services in Switzerland, enable end-to-end input management automation.
The combination of Arcplace’s input management services and expertise with Parashift’s Intelligent Document Processing platform increases the speed and quality with which new digitization projects can be implemented. “The flexible and automatic classification of small and high-volume document types, as well as extraction of workflow-relevant data combined with the ability to have key data points manually validated by Arcplace in Switzerland, is unique,” explains Mattia Rüfenacht, Head Business Development at Parashift, “The potential applications range from invoice and incoming mail processing to the digitization of archives.”
Parashift complements Arcplace solutions and services with proprietary Document Swarm Learning technology that learns across document types as well as customers and industries, enabling versatile out-of-the-box capabilities. Organizations benefit from access to flexible and high-performance extraction capabilities, creating the foundation to cost-effectively integrate document data into IT systems and business processes. This results in significant cost savings and fundamentally new opportunities to operate digitized business models.
“Arcplace’s expertise and solutions combined with Parashift’s technology, is a game-changer for the way companies work with documents. As the level of digitization increases, so does the number of documents circulating, so a high level of automation in processing is essential. With this partnership, we can accelerate the adoption of solutions and lay the foundations for further digital transformation in enterprises,” says Alain Veuve, CEO of Parashift.
“The need to process documents easily, quickly, and cost-effectively is becoming an integral part of any organization’s digitization strategy. In this context, Parashift is developing industry-unparalleled technologies that have the potential to transform input management for good,” added Roger Egli, Solution Owner Input Management at Arcplace.
Swiss-based Arcplace AG, founded in 2006, is a specialized IT service provider that supports organizations in digitizing and automating document-related processes as well as in electronic archiving. Arcplace employs over 90 people.
Parashift AG, founded in 2018, is a deep-tech company focusing on the autonomization of document extraction through machine learning. Parashift is based near Basel (Switzerland) and employs around 40 people in the field of machine learning engineering and development. Forbes named Parashift 2019 as one of 30 promising AI startups in Europe.
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