News | December 5, 2019

Parascript Establishes Technology Alliance With Automation Anywhere

Giving Businesses Access to Advanced RPA with Smart Learning Capture

Longmont, CO (GLOBE NEWSWIRE) - Today, Parascript, which supplies the digital workforce with automated document classification and data entry solutions that process over 100 billion documents annually, announced its technology alliance with Automation Anywhere, a leader in robotic process automation (RPA). The collaboration will help provide organizations greater access to advanced intelligent automation with Parascript Smart Learning capture.

When using RPA in document-related processes, the clear objective is to move all manual processes into a fully automated workflow. This is achievable when processes simply require structured data. However, the most expensive and business-critical processes involve human workflows using complex, document-based information, which calls for advanced capture.

“Achieving high levels of automation with RPA, often requires information that needs to be located and extracted from a range of complex documents. Parascript offers a solution for gaining access to document-based data, which can then be automatically processed by software bots,” said Griffin Pickard, Director of the Technology Alliance Program at Automation Anywhere. “We look forward to collaborating with Parascript to meet the needs of our mutual customers and help them implement RPA to alleviate mundane tasks from human workers so that they can focus on more creative projects that only humans are capable of doing.”

While some processes are easier to automate than others with RPA, Automation Anywhere bots address a full range of processes from the most repetitive, straightforward tasks to complex workflows. Automation Anywhere’s intelligent automation handles a combination of structured and unstructured information involving high variance documents. Automated data extraction from these documents can include machine-print, cursive and handprint, leveraging Parascript advanced capture.

“Organizations are looking for flexible automation tools that empower the way they work,” said Greg Council, Vice President of Marketing and Product Management at Parascript. “This is a unique opportunity for Parascript to collaborate with Automation Anywhere so that organizations and their business systems can access their document-based data immediately and get more done.”

The demand for RPA is reflected in its market growth, which increased significantly in 2018 and 2019, according to leading analyst firms. With digital transformation projects driving much of this growth, organizations look to increase their Straight Through Processing (STP) through adopting new technologies that allow them to leverage their legacy systems. To date, the largest adopters have been the finance industry, insurance, telecommunications and utilities, but logistics and manufacturing industries are also always looking to innovate.

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.

About Automation Anywhere
Automation Anywhere is a leader in Robotic Process Automation (RPA), the platform on which more organizations build world-class Intelligent Digital Workforces. Automation Anywhere’s enterprise-grade platform uses software bots that work side by side with people to do much of the repetitive work in many industries. It combines sophisticated RPA, cognitive and embedded analytic technologies. More than 3,500 customer entities and 1,900 enterprise brands use this AI-enabled solution to manage and scale business processes faster, with near-zero error rates, while dramatically reducing operational costs. Automation Anywhere provides automation technology to leading financial services, insurance, healthcare, technology, manufacturing, telecom and logistics companies globally. For additional information, visit Automation Anywhere.

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Source: Parascript