inacta and Parashift enable AI-based data extraction out of the cloud

inacta AG is the leading consulting company in Switzerland in the field of information management. A renowned number of clients in banking, insurance, healthcare, and other industries rely on inacta’s expertise, especially for the optimization of their document-centered processes.
inacta as a product and technology neutral partner is constantly looking for new providers in the field of document processing. This market observation enables inacta to evaluate the most suitable solutions for its customers and to provide access to new technology as required.

In the course of this Tech-Radar activity inacta has become aware of Parashift. Parashift provides an innovative solution in the field of document extraction for companies to read data from documents. Through the use of machine learning and cloud technology, document types can be recognized and read more easily, quickly and cheaply. Parashift focuses on the extraction of data and makes it available to subsequent applications via a standard interface (API).

This separation of extraction and technical processing offers many advantages for the flexible and intelligent processing of documents in companies. The cloud-based approach with pay-per-use can reduce costs (TCO) while increasing flexibility.

“Parashift combines various new technologies with concepts previously unused in document extraction and thus, offers companies completely new possibilities” says Jürg Porro, Head of Business Consulting at inacta.

Parashift relies on consulting and integration partners like inacta to integrate their platform with customers. “At Parashift we focus exclusively on data extraction. The consulting and implementation of end-to-end document processes is demanding and Parashift is only ever a partial step in these processes. We are therefore all the more pleased to have inacta on board as a partner who can provide our customers with comprehensive, competent and committed advice” says Alain Veuve, CEO of Parashift.

As an independent consulting firm, inacta supports medium-sized and large companies in the use of technology products to best meet the requirements of the business case.  “This approach suits us at Parashift very well. We do not see our task in imposing our solution on partners and customers, but in offering the best possible platform, which in most cases is simply the best option”, says Alain Veuve.

The implementation-strong cooperation is already bearing fruit; the first joint customers in the finance and insurance industry have been acquired in recent months. Additional leads are in the pipeline.

About inacta:

inacta AG, founded in 2009 and headquartered in Zug, is an independent Swiss IT service company that successfully acts as a partner for innovation and digital transformation. More than 70 experienced digitization experts support organizations in the insurance, banking, real estate and healthcare industries. Inacta supports established companies and startups with consulting, training, and software development services. As an early adopter, inacta not only understands the technologies such as Blockchain or AI – but above all – how and where they can be meaningfully used.

About Parashift:

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.

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