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Parascript and Power Imaging Partner to Further Document Processing Innovation in Brazil

/EIN News/ -- Longmont, CO, July 28, 2020 (GLOBE NEWSWIRE) -- Parascript, which automates document-oriented tasks processing over 100 billion documents annually, announced today its new partnership with Power Imaging to further innovation in document process automation throughout Brazil. Power Imaging is a Brazilian technology company recognized for its state-of-the-art ECM solutions focused on cost reduction, productivity enhancement and operational excellence.

“Our new partnership with Parascript brings innovative technologies to our portfolio of ECM solutions for process automation, which Power Imaging offers to its customers,” said Julio Rossi, Owner and Founder of Power Imaging. “We represent the leading technology partners in automation and decided to integrate Parascript’s SDKs into our PowerSuite solution due to their superior handwriting recognition and signature verification capabilities.”

Founded in 1994, Power Imaging represents the leading automation providers, integrating their products into its PowerSuite solution, which connects ECM solutions to a comprehensive distributed capture system allowing an unlimited quantity of users to deliver documents and data to their business systems. Large enterprises in Brazil currently leverage PowerSuite including Oi Telecom, Light Energy, Eletrosul and Moinhos de Vento Hospital.

“Partnering with Power Imaging, such an experienced and well-respected company, is great for us,” said Bill Johnson, Vice President of Global Sales at Parascript. “Power Imaging offers both cutting edge technology, which it customizes for its customers, as well as a service bureau that is the largest in southern Brazil.”

Enterprises are looking to further automate their document processes beyond simply transcribing scanned documents into machine-print. Power Imaging’s PowerSuite is designed to facilitate preprocessing documents; document classification and separation that is required prior to performing data extraction functions; as well as data location and automated data validation.

“Integrating Parascript software made sense especially for handwriting recognition because it extracts the highest quality results by combining the latest deep machine learning algorithms,” said Mr. Rossi.

Using Parascript Smart Learning, which combines data science with machine learning, Parascript FormXtra.AI also outperforms other capture systems in dynamic production environments since it adapts to new streams of documents in the background while documents are processed. FormXtra.AI simultaneously measures and improves performance in the background learning what data can run straight through with no user intervention to automatically ensure data quality.

“FormXtra.AI can adapt and optimize to unstructured handwriting, which is some of the most complex and varied document data,” explained Mr. Johnson.

Adding Parascript signature verification to any capture system for use with financial documents, contracts or onboarding applications for anti-fraud and other purposes complements any existing and new capture systems. The software locates signatures on documents and can verify them against a reference signature database. Signatures can also be extracted for creation of a signature database (e.g., on account applications). Parascript signature verification supports legal, mortgage, healthcare, vote-by-mail, and other compliance-based applications, such as Know Your Customer (KYC). Parascript signature verification is used by financial institutions across the world to help prevent fraud.

About Power Imaging

Power Imaging is a Brazilian technology company recognized for its innovative ECM solutions focused on cost reduction, productivity enhancement and operational excellence. Established in 1994, Power Imaging represents global leading technology partners such as Parascript, Hyland, OpenText and Kofax that can be integrated into its solution called PowerSuite, an ECM Connector. PowerSuite is a distributed capture system for unlimited quantity of users to deliver documents and data to ECM Systems. Power Imaging implements visionary solutions for major companies in Brazil such as Oi Telecom, Light Energy, Eletrosul and Moinhos de Vento Hospital. Visit Power Imaging.

About Parascript, LLC

Parascript software, driven by data science and powered by machine learning, configures and optimizes itself to automate simple and complex document-oriented tasks such as document classification, document separation and data entry for payments, lending and AP/AR processes. Every year, over 100 billion documents involved in banking, government, and insurance are processed 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.

Rebecca Rowe
                    Parascript
                    303-381-3122
                    rebecca.rowe@parascript.com
                    
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