Drive Business Growth with Intelligent Document Processing: A Must-Have Solution for Software Vendors and IT System Integrators
Whether you are an independent software vendor (ISV) specializing in software delivery or an IT system integrator focusing on bringing together various technology components; in both cases you depend on the best technologies in order to be able to offer your customers modern, powerful and as complete as possible solutions.
Even if it is something that slowly but surely no one wants to hear anymore: the digital transformation is in full swing worldwide. And digitization requires comprehensive software solutions that can handle complex documents and data. One such technology for automated data capture is Intelligent Document Processing (IDP). As an ISV or system integrator, you can use it to optimize software with relatively little effort and resources, and at the same time significantly boost your business growth.
The challenges of data extraction for software vendors and IT system integrators
Even if document processing is already an essential part of your service offering, you most likely do not have modern data extraction. However, if you’re an ISV looking to increase your document processing capacity, you need to make improvements. With traditional Optical Character Recognition (OCR) data extraction in your software, you are severely limited in what you can do to meet your customers’ needs. Traditional capture solutions are no longer good enough for the complexity and diversity of enterprise documents. The lack of a modern data extraction solution can negatively impact your customers’ business growth. Furthermore, it also significantly hinders your own growth.
However, it doesn’t have to be that way: when you get an Intelligent Document Processing (IDP) solution, you’re integrating a comprehensive document extraction solution into your own software. Industry-agnostic and purpose-built for the complex documents your customers need to process on a day-to-day basis. With powerful artificial intelligence (AI)-based technologies, IDP lets your customers automatically process unstructured data for the first time.
Wondering why you might not be better off building your own solution instead of partnering with an IDP vendor? If you have already evaluated this option, you have probably also come to the conclusion that various factors such as a complex and expensive development time is not necessarily what you want.
But developing an Intelligent Document Processing solution in-house not only takes valuable resources away from your product teams. You also run the risk of wasting a lot of time and money on hard-to-solve OCR problems. Finally, developing a modern and competent document extraction solution is a completely different ball game.
“Thanks to the technology partnership with Parashift, our customers can significantly optimize document processing and reduce process throughput times. Parashift combined with BSI is the perfect match for intelligent document processing in customer management.” – Kai Jesse, Community Manager Retail at BSI
The benefits of Intelligent Document Processing for you as an ISV and system integrator
In contrast to developing a data extraction solution in-house, you can partner with a specialized IDP provider such as Parashift. This path gives you clear advantages as an ISV or system integrator:
Specific solution: With Parashift, you integrate a document extraction platform built solely for this purpose. This allows your customers to automatically capture and process unstructured data from complex documents.
Focus: Partnering with Parashift frees up your product teams to focus on their area of expertise.
Profitability: Developing a capable extraction solution would mean a potential team increase and high costs – long before the actual product. With the Parashift IDP platform, you bypass this and integrate a profitable product from day one.
Best-in-Class: With Parashift’s Intelligent Document Processing platform, you get a powerful and forward-thinking solution with continuous improvements.
Partnering with Parashift and integrating an Intelligent Document Processing solution into your software also delivers the following benefits:
Combination of your software with IDP: Combine your software with IDP and achieve optimal results: More efficient processes, improved customer experience and a cost reduction.
Create competitive advantage: IDP gives you as a software provider the ability to easily build new features. This allows you to clearly differentiate yourself from your competition, as very few have sophisticated data extraction built into their solution.
Solve your customers’ problems: Manual data entry from countless documents, as in the mailroom, always carries risks due to error-proneness. In addition, this slows down all processes significantly. With IDP you solve these problems for your customers and minimize the risks.
New revenue streams: As an ISV, you easily integrate Parashift IDP technology into your own application (which is how it feels to your customers). This extends your existing solution, allowing you to commercialize a new module with powerful data extraction and seize new revenue streams.
“With our AI platform, it is our ambition to digitalize processes end-to-end as far as possible. An essential part is document extraction. Parashift’s technology enables us to take this step in greater depth and, above all, to support a wide range of document types”. – Aleksandar Milosevic, CEO at 3ap
How the Parashift IDP Platform helps you as a software provider and system integrator
For you as a software vendor and IT system integrator, the key factors of the Parashift IDP platform are the following:
You scale Deep OCR APIs yourself: With Parashift’s Deep OCR APIs, you simply create new use cases yourself, based on continuous learning. No endless training, but maximum flexibility by customizing Deep OCR APIs to your needs.
Cover hundreds of use cases with a single API: The IDP is your one-stop store for all document types. A single API for hundreds of use cases. It doesn’t get much simpler than that. Also, use webhooks to keep track of processes and interactions.
Continually improve the accuracy of data capture: Parashift automatically processes the unstructured data and returns it to your software in structured form via API. In addition, you send back the learning data generated in your application via the Parashift Feedback API to continuously improve data capture accuracy.
“IMTF and Parashift are working together to simplify data management across organizations and drive operational improvements. This enables our customers to automate internal processes significantly and ultimately serve clients better.” – Gion-Andri Büsser, CEO of IMTF
Are you also an independent software vendor or IT system integrator? Become a Parashift partner and take advantage of the modern IDP solution to further improve your customers’ experience and accelerate your business growth.