Whether your company is a DMS/ECM developer or integrator, a consulting specialist for automation process, a CRM vendor, or a BPM software solution; extracting data as accurately as possible is a critical factor in any case, but is most likely not part of your company’s main focus.That’s why Parashift focuses solely on classification and data extraction. No DMS functions, no workflow functions, no business rules. Strong partnerships between competent companies that complement each other perfectly are essential for exactly this reason. Parashift places a high value on trustful collaboration in order to jointly create added value for customers. In the following, we will look at the benefits of Intelligent Document Processing (IDP) for you as a partner and for your clients.
Contents
- Intelligent Document Processing at a glance
- Intelligent Document Processing in your portfolio: Benefits for your clients
- A) Lower costs
- B) Increased security
- C) Improved efficiency
- D) Increased data accuracy
- E) Improved customer service
- Intelligent Document Processing in your portfolio: Benefits for you as a partner
- A) Increased revenue
- B) Competitive advantages
- C) Improved customer satisfaction
- D) Assurance of support and training
- How Parashift IDP differs from other solutions
- A) Ease of Integration
- B) Document Swarm Learning
- C) GDPR compliant cloud platform
- D) One platform for all documents
- Parashift helps you with support and training
- Partnership success stories
1. Intelligent Document Processing at a glance
Before we go into the benefits of IDP in your portfolio, let’s first briefly clarify the technology:
- Intelligent Document Processing (IDP) is also called AI-OCR (Optical Character Recognition powered by Artificial Intelligence) or Intelligent Data Processing.
- IDP is based on artificial intelligence (AI) technologies, including machine learning, deep learning, and natural language processing.
- Modern IDP is capable of automatically capturing not only structured and semi-structured data, but also unstructured data. And it does so regardless of the layout of the documents.
- The cloud-based solutions are compatible with existing software landscapes.
- IDP in combination with a document or process management solution significantly improves the system.
2. Intelligent Document Processing in your portfolio: Benefits for your clients
Benefits of integrating an Intelligent Document Processing solution into your portfolio for your customers are:
A) Lower costs
One of your customers’ main goals revolves around reducing costs. Even though IDP is only one part, it is an integral part of digitization and for automating document processing. Your customers significantly reduce costs by automating the capture and processing of data instead of doing it manually.
B) Increased security
Modern IDP solutions run in the cloud rather than on-premises. Your clients are thus assured that the system is always up to date, without IT having to take care of it. This provides your customers with maximum security.
C) Improved efficiency
Thanks to the powerful functions, your clients will benefit from enormously improved efficiency in all document-based processes. For the first time, unstructured data from complex documents can be processed automatically. This maximizes operational efficiency for your customers.
D) Increased data accuracy
Your customers must be able to rely on high data accuracy. With IDP, this accuracy is guaranteed. This helps companies achieve more straight-through processing. In addition, manually capturing data from business documents always carries risks due to error-proneness. IDP minimizes these risks.
E) Improved customer service
By eliminating manual work, your clients gain new resources. In turn, they can invest these resources in customer service, for example. And thus make the end clients happy(er).
3. Intelligent Document Processing in your portfolio: Benefits for you as a partner
In addition to the benefits that the addition of an IDP solution to your portfolio provides to your customers – cost reduction, increased security, increased efficiency, higher accuracy of data, and improved customer service – you as a partner also get your money’s worth:
A) Increased revenue
As a partner, you receive compensation for selling the IDP solution, which results in higher revenue for your company. For example, if you are a software vendor, extend your existing solution with IDP. This allows you to commercialize a new module with powerful data extraction and grab additional revenue streams.
B) Competitive advantages
By offering an innovative solution like IDP, you can differentiate yourself from your competitors. If you sell a software platform, IDP gives you the opportunity to build new features. This clearly differentiates you, because very few of your competitors have seamlessly integrated a sophisticated data extraction solution into their product.
C) Improved customer satisfaction
When you offer your clients an Intelligent Document Processing solution, you directly help them improve efficiency, accuracy, and security. You’ll also reduce risks of error that have always been a factor when manually capturing data from invoices and other business documents.
D) Assurance of support and training
Many IDP vendors offer support and training to their partners. This helps you feel confident about selling the solution.
4. How Parashift IDP differs from other solutions
Intelligent Document Processing is therefore a win-win situation for you as a partner. However, not all providers on the market can deliver the performance they promise with their solution. Due to the complexity of many business documents that need to be processed on a daily basis, it is not uncommon for the execution to fall short.
Certain capabilities are absolutely necessary for a high-performance IDP solution. These include the capacity to capture unstructured data from complex business documents and without any templates at all. Other capabilities of a system, such as Parashift’s Document Swarm Learning, are a huge competitive advantage for you as a partner.
The Parashift IDP platform combines robust technologies into one system. Capabilities that make Parashift the most powerful solution on the market include:
A) Ease of Integration
You can integrate the Parashift IDP platform into your existing application landscape in no time. The technology upgrades your applications with out-of-the-box intelligence that can handle unstructured data from complex documents much more accurately. When compared directly to other solutions on the market, Parashift’s IDP solution brings 50% better results and 15x faster automations to your business.
B) Document Swarm Learning
The Parashift IDP is based on the proprietary and revolutionary Document Swarm Learning technology. This unique approach to the market is the best attempt to make 99.99% extraction accuracy a reality. The technology enables global AI training across all customers and across billions of data points. Progress is made continuously through all documents processed in the cloud and shared with all customers in the network. This brings next-generation AI into your business as a partner. The innovative method of the global and shared data network enables a fast time-to-solution.
C) GDPR compliant cloud platform
Security and compliance are at the heart of Parashift. Companies worldwide process the most sensitive data with the Parashift IDP platform. The modern cloud infrastructure is fully GDPR compliant. ISO27001 and HIPAA compliant data centers make Parashift a trusted provider for your products. More information regarding security and compliance can be found here.
D) One platform for all documents
With Parashift, you gradually replace your clients’ niche solutions. Instead of individual use cases, you use one IDP platform for all documents, regardless of layout. As a result, you significantly minimize both complexity and operational costs.
Countless standard document types with out-of-the-box functionalities require no setup or configuration, but are ready to use immediately. Furthermore, the Parashift IDP platform is built according to the no-code principle. This means that no programming knowledge is required to operate the platform. If you need individual document types, you or your clients simply click them together yourself. This significantly shortens the time-to-value and ensures a fast ROI.
5. Parashift helps you with support and training
Parashift actively works with you as a partner and provides you with all the resources you need to sell the Intelligent Document Processing solution. This means we will assist you in sales training, product demonstrations and technical support where we can.
For marketing materials contact our Marketing Manager Emma Lebat.
For a demo or sales materials contact our Head of Partner Management Stefan Wagner.
6. Partnership success stories
“By integrating Parashift with our Karedocs-Document Management System, we can offer a wider variety of improved use cases for value-added services to our clients.” – Renjith Mohan, CEO NeoLotex Business Solutions
“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
“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 processing documents intelligently in customer management.” – Kai Jesse, Community Manager Retail at BSI
“Parashift’s unique solution approach is highly interesting for us as a long-standing and innovative solution integrator in the area of digitization of document-related processes. The technology ideally complements our existing solution portfolio. Thanks to Parashift, our customers benefit from tailored and sustainable solutions and services.” – Dominic Wullschleger, Head of Sales & Marketing at Arcplace
Do you want to join us on our mission and help us transform businesses around the world? Then we look forward to getting to know you: Become part of the Parashift partner ecosystem!
