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- Parascript's Intelligent Document Processing solution, FormXtra.AI 8.4, introduces significant improvements in automating the extraction of complex data
LONGMONT, Colo., Feb. 1, 2023/PRNewswire/ -- Parascript, a software company with more than 25 years of experience in data mining, has released a new version of its Intelligent Document Processing (PID) solution, FormXtra .AI 8.4. This new version adds multilingual support for handwriting recognition without content in French, German, Spanish, and Portuguese; nested table support for better recognition and extraction of data in complex tables; and significant improvements in full-page Intelligent Character Recognition (ICR), trainable fields based on Natural Language Processing (NLP) algorithms, and dynamic localization of signature fields for unstructured documents.
"Version 8.4 is a huge step forward for FormXtra.AI. Our R & D team has implemented numerous enhancements to increase the accuracy and efficiency of automating data extraction from traditionally difficult to automate documents. We are excited to see the levels accuracy achievable with documents that include a combination of handwriting and mechanical printing along with complex tables," explained Dawn Wood, vice president of sales.
FormXtra.AI is Parascript's premier PID software that builds on the original FormXtra software by enhancing it with the most innovative trends and approaches in deep learning and natural language processing. FormXtra.AI has high universality, allowing the software to classify and extract data in any type of document despite formatting, text style, and complexity.
FormXtra.AI 8.4 now offers context-free reading of any type of handwritten text for a wider range of Latin and Cyrillic-based languages than ever before. Vocabulary-free data extraction is now available for documents written in English, French, German, Russian, Spanish, and Portuguese.
Full Page ICR Improvements
Automating the extraction of a full page of handwritten and typewritten data with high levels of precision is difficult, but now this complex automation task is more accessible than ever. In FormXtra.AI 8.4, the Parascript development team has enhanced its proprietary ICR technology for better performance in recognizing and extracting full page data. This full page extraction capability is complemented by artificial intelligence to improve accuracy over time.
This innovative solution enables FormXtra.AI 8.4 to fully automate the extraction of data from complex tables, including tables with irregular structure and tables nested within tables. It is ready for use on any type of document (structured, semi-structured, and unstructured), and its broad implementation possibilities make this feature a universal capability for use across many applications and many industries.
FormXtra.AI 8.4 includes an improved ability to locate and extract paragraphs of text in documents with a similar meaning to the paragraphs used for training. This capability implements an approach unique to PLN technology that can be effectively trained on a limited set of samples (3-50). Thanks to this PLN technology, the software can efficiently solve complex tasks such as extracting key contractual terms in a legal document, extracting named entities from unstructured documents, locating paragraphs related to the legal description of the property within contracts, sentiment analysis and much more.
Parascript software saves companies more than $1 billion a year. Parascript's state-of-the-art software incorporates proprietary AI technologies to provide robust data capture solutions that bring the highest levels of accuracy when processing documents. With more than three decades of experience applying AI to solve complex problems, Parascript can automate document-oriented processes in structured, semi-structured, and unstructured formats, dramatically reducing human involvement. Parascript has automated the postal, mortgage, payment processing, and hundreds of other processes.
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