Abraxas and Parashift enter into a strategic partnership
St.Gallen, September 9, 2020 – The two IT companies Abraxas and Parashift have agreed on a strategic partnership. Thanks to Parashift’s Machine Learning-based software, Abraxas will be able to offer its customers a powerful service for reading and digitizing all business documents.
Abraxas Informatik AG and Parashift AG are going a joint path. Parashift has developed a platform that is unique in Switzerland, which enables high-performance, flexible and cost-effective data extraction of various business documents. The solution is based on Machine Learning and Artificial Intelligence.
Abraxas as integrator…
“Accurate document extraction is crucial for the digitization of business processes,” says Ramon Scherrer, Head of Business Development at Abraxas. “Because Parashift’s solution is not tied to a use case, we can offer our customers a service that can be integrated into our various specialized solutions”. This way, very different administrative processes, such as invoice processing, teaching contract management or mail processing, can be handled completely digitally and consistently.
… for the public sector
“In the institutional sector, there are only a few IT service providers who understand the special requirements of municipalities, cantons and the federal government and are therefore able to implement efficient, innovative solutions. In this area, Abraxas is top of mind and we are pleased to be able to make a contribution,” says Alain Veuve, CEO of Parashift. With the recently announced partnership, Abraxas and Parashift are paving the way for a digital administration in which document-intensive processes can be reliably and completely digitized.
Abraxas Informatik AG
Abraxas Informatik AG is the largest provider of integrated IT solutions for the public sector in Switzerland. The company, headquartered in St.Gallen, employs around 800 people in all language regions. Abraxas connects Swiss administrations, public authorities, companies and the population with efficient, secure and integrated IT solutions and services.
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 20 people in the field of machine learning engineering and development. Forbes named Parashift 2019 as one of 30 promising AI startups in Europe.