Welcome to IDP Podcast episode #4. For this fourth interview, Alain Veuve has a great discussion Thilo Rossa, the Chief Product Officer at Parashift.
They exchanged views on the current vision of Parashift and the future.
Who is Thilo Rossa?
Passionate about information management, Thilo Rossa is an expert in ECM/DMS/OCR/BPM solutions. What he loves most is helping companies modernize old, often paper-based processes through digitalization. As a Chief Product Officer, consultant, and project manager, he has acquired great expertise over the years that allows him to excel at Parashift and make the product even more innovative and efficient every day.
People tend to think of documents as something boring because it’s just “documents”. But for every topic, as soon as you dive deeper, there’s this whole complex layers and processes and things specific to just how to handle documents, and that still intrigues me.Thilo Rossa
Parashift Platform: Why it is revolutionary ?
What we do is, if you send a document, we structure the data to get the specific field like invoice number or the invoice type. That goes for all other types of documents, of course. So it could be correspondence, for example. It will work as well. We focus on the structuring part. (…) Many systems are specifically adapted to do all the business logic based on the data we structure. The pain for our customers is to get the structured information out, not necessarily the business logic and the business validation; it comes down to whether you have a workflow or a primary system that is usually prepared to do precisely that. We structure the information, when the next system takes over the business validation, and everything else.Thilo Rossa
What is unique about Parashift’s solution is that it has implemented Swarm Learning technology. The goal is to focus on data points or entities to centralize learning. It is not about memorizing the structure of a typical document but rather a category of data regardless of the type of document. Thus, when a client wants to extract data from a document, he will not need, in most cases, to configure it because another user will certainly have done it before.
Why the collaboration?
Parashift is the history of encounters between people with brilliant ideas but without advanced skills in Intelligent Document Processing and people with years of experience in document management, data extraction, archiving, etc., able to implement these ideas and bring new ones.
Both groups share the same vision of creating an innovative platform that makes document processing simple, powerful, and accessible to all businesses. Something that was not the case until recently.
Indeed, until now, the OCR solutions on the market (and even today) were completely inefficient when the type of documents to process varied or presented semi-structured or unstructured data. Companies were then forced to do it manually, which was very time-consuming and slowed down the workflow.
What about the future?
When the company was first founded, the debate was whether Parashift would become an end-to-end solution or just a horizontal technology provider for the entire industry. By becoming this provider, Parashift would stand out and be recognized as an expert in Intelligent Document Processing. This is the option that was chosen.
Many customers are not looking to replace the solutions they already use. They simply want to improve that part of the job that always gets in the way and too often slows down the workflow: Document processing.
The goal is not to offer an end-to-end solution that would force customers to change everything but to provide this powerful extraction solution that perfectly fits their existing system.
The progression and capacity of the platform have evolved considerably over the last few months and weeks. Many new features will be unveiled very soon, so stay tuned!
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