Parashift complements Symfact with document extraction
Symfact is an innovative SaaS provider for contract management. The online contract and compliance management solution saves customers time and money when creating, managing, and reviewing contracts.
The solution covers different areas around contract management. For example, business partners can be checked with Symfact before signing a contract, or investments and the associated contracts can be managed.
Importing existing contracts and documents today always involves a lot of manual work. For this reason, Symfact and Parashift have entered into a solution partnership. With the integration of Parashift into Symfact, any kind of documents and attachments can be easily imported into Symfact and Symfact customers will benefit from greatly reduced effort in manual data entry into Symfact.
“The Symfact solution really convinced us. Extensive contracts and a high number of contracts are a challenge in all companies. The value of Symfact for corporate legal departments is immense,” said Alain Veuve, CEO of Parashift.
“Our clients are always busy with tedious manual work when importing contracts and other documents. With Parashift we can gradually simplify all these cases and relieve the customer of manual work,” says Andreas Kyriakakis, CEO of Symfact.
Symfact and Parashift customers benefit equally from the partnership. In the future, it will be easy for Symfact customers to import document data into Symfact without much manual effort. On the other hand, Parashift customers will be able to use Symfact for contract management in conjunction with their existing Parashift integration.
Symfact is a leading provider of Governance, Risk & Compliance (GRC) solutions that enable customers around the world to effectively manage risk, integrity, quality, commitments, questionnaires and related documents on a single technology platform.
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.