Parascript Introduces FormXtra.AI 7.6 That Reduces Document Drudgery

Featuring the Most Powerful Handwriting Recognition in the Intelligent Capture Industry

Longmont, CO, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Parascript announced today that FormXtra.AI 7.6 is now available, which reduces manual drudgery by automating rote tasks and increasing our efficiency in document classification, data location, extraction and verification for information ranging from machine print to handwriting recognition.

With FormXtra.AI 7.6, Parascript offers the next generation intelligent capture with new capabilities that include the ability to automatically transcribe long-form handwritten data such as comment fields on forms.

“For those in the intelligent capture space that know about handwriting recognition, this is more of a revolution than an evolution,” said Greg Council, Parascript’s Vice President of Marketing and Product Management. “The real thing here is beyond just the technology use and beyond the amount of effort reduction. We just made things simple. With handwriting recognition, you used to have to add vocabularies of expected words and all types of context. FormXtra.AI 7.6 uses a combination of machine learning including deep learning neural networks to transcribe handwritten data without having to provide context. This opens up a new world of applications for handwriting recognition for every type of form from medical forms to logistics.”

Smart Learning with Augmented Handwriting Recognition

Parascript Smart Learning is Parascript’s unique machine learning platform that not only improves overall performance, but significantly reduces the amount of effort it takes to get high performance results. Smart Learning expands the scope of the applications and use cases that intelligent capture can address without increasing the amount of effort that it takes to get there. This means extracting data from complex documents just got easier.

Parascript Smart Learning trains on the customer’s samples that can range from structured forms to unstructured data. Smart Learning in FormXtra.AI 7.6 now works with documents that have handwritten fields that can be more complex to automate due to variances in where the written data is located. This is basically form-based data where a lot of the data entered is written in, whether it's cursive writing or hand print. In addition, FormXtra.AI 7.6 introduces fully automated Smart Learning.  

“What this means is rather than manually compare the performance, you can set different accuracy points. And then, FormXtra.AI automatically initiates smart learning sessions and promotes them into production provided they meet these performance requirements,” Mr. Council explained. “It's not one of these cases where you're just turning it on. So, if you somehow provided FormXtra.AI with bad data, it would not go into production and degrade performance because the system only promotes something into production once it meets the performance requirements.”

Enhanced Capabilities: Workflow, Metadata & New Fields

FormXtra.AI7.6 offers improvements for cases that involve more complex multi-line data entry and for batch-level and document level metadata. FormXtra.AI also provides a pre-trained government ID field, to support non-US ID formats. So, the software is predesigned to do the government ID fields for other countries, including Canada and areas in Europe.

Its multi-line handwriting recognition is also important because the challenge has always been that the more handwritten words there are, the more chances you have for error. However, Parascript’s deep learning capabilities allow for paragraphs of handwritten information to be extracted quickly and accurately.

“This release of FormXtra.AI is really game-changing,” said Bill Johnson, Vice President of Global Sales at Parascript. “Having run my own systems integration shop for 20 years in the ECM field, I understand the challenges of extracting all our customer’s data and the effect of accuracy and errors released to downstream workflows. Accessing data from unstructured handwriting is a bit of the Holy Grail for intelligent capture so I'm excited to see that available in FormXtra.AI. Additionally, we understand how to optimize the RPA-driven workflow process by providing sense data or action attributes that create an optimal environment for RPA.”

About Parascript, LLC

Parascript supplies the digital workforce with document automation solutions focused on transactions, information governance, fraud prevention and business processes. Parascript provides advanced capture leveraging machine learning with real-time adaptability and auto-configuration. Our software offers easy-to-use, image-based analysis, classification, data location, extraction and verification. More than 100 billion documents for financial services, government organizations and the healthcare industry are analyzed annually by Parascript software. Parascript offers its technology both as software products and as software-enabled services to our partners. Our BPO, service provider, OEM and value-added reseller network partners leverage, integrate and distribute Parascript software in the U.S. and across the world. Visit Parascript.



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