We are entering the end of the “Feature Wars” era—to borrow a phrase from my associate Greg Council.
Today, corporations are far less interested in how a product or platform accomplishes its work. They are, however, acutely focused on what it means to them in terms of cost versus performance. The old saying, “I don’t care how the watch works, just tell me what time it is,” is a good analogy.
The emergence of Software as a Service (SaaS), and in our case Capture as a Service (CaaS) from the Independent Software Vendors (ISVs) deployed through our partners is evidence of this evolution. When you couple that with increased use of outsourced resources and BPOs, it is further proof of the direction major corporations are taking to satisfy business process requirements.
Advanced Capture Feeding Robotic Process Automation (RPA)
We are accomplishing amazing things with our collective technology. The combination of sophisticated advanced capture feeding RPA augmented workflow enhanced by cognitive analytics in a single business process results in extreme throughput and accuracy. This significantly reduces costs and risk.
The complexity of these systems, however, introduces the “Buy, Build or Outsource?” question. The cost to build and maintain these processes is relatively the same whether you are satisfying 10,000 transactions for a single company or 1,000,000 transactions for a 100 companies.
Box of Features or Extreme Throughput
This brings us back full circle to the Feature Wars. Are you looking for a big old box of features or are you looking for extreme throughput and process efficiency with very high reliability and low maintenance requirements?
Here at Parascript, we believe it is the latter, and we are leveraging our vast experience and tenure in recognition, artificial Intelligence and unattended deep machine learning to produce Advanced Capture products and services with absolutely the “Shortest Time to Live”, “Real Time Adaptability” and the lowest “Dependency” on sophisticated and proprietary skill sets.
We are producing Advanced Capture products and services with absolutely the “Shortest Time to Live”, “Real Time Adaptability” and the lowest “Dependency” on sophisticated and proprietary skill sets.
Document Automation: Three Key Measurement Criteria
In document automation or capture, we have three primary areas of measurement that are meaningful.
Time to Live
With Time to Live, ROI should be calculated from the time you write your first check, not later when you turn the system on. If your ROI is based on “N” number of dollars saved per month, but it takes a year to build and deploy it, you have to amortize the year’s worth of build cost into the equation. Shortening the Time to Live period is critical to increasing ROI. Parascript FormXtra.AI provides an extremely rapid Time to Live capability because there is so little manual configuration.
Tribal (proprietary) Knowledge Dependency Reduction
Most systems rely on a set of application experts to be able to deploy, maintain and support the business application. You may have only a few people supporting applications that 100s of employees access to facilitate the business process. If you lose one of those applications support people for any reason, you can suffer a significant reduction in force that affects your larger population of process workers. Since Parascript FormXtra.AI is largely machine-driven with regards to configuration, you no longer require specially trained people to maintain it.
Real Time Adaptability
In this ever-changing world of forms, data acquisition and business process, the ability to adapt to volatile environments in the shortest amount of time is critical. FormXtra.AI, via our Deep Machine Learning capability, learns and adapts to new documents and changes in forms on-the-fly. This means far fewer business interruptions, less required training or retraining, and less drama administering the people who facilitate the process.
Self-learning AI Capture
Does Parascript FormXtra.AI have tons of features? Sure it does! Do you have to be versed and current on all of them? Absolutely not! FormXtra.AI takes care of all that for you. We are actually headed toward and very close to ZERO Configuration requirements. Sounds too good to be true, but we are indeed close.
What other advanced capture platform is there today that includes Handwriting, Cursive, Pattern Recognition and OCR/ICR, all driven by AI and Unattended Deep Machine Learning with Real Time Adaptability and all from the same company? The answer is: only Parascript.
So, if you are still prepping with separator sheets, keying from image, processing faxes as batches, etc. or holding off due to staff or a lack of resources, take a look at advanced capture.
If you are looking at advanced capture and you’re not looking at Parascript, you’re not looking at the most advanced capture platform on the market today. Give us a call, we’d be happy to discuss your opportunities.
If you found this article interesting, you might find this webinar on digital transformation useful:
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Learn more about our self-learning Parascript FormXtra.AI software by watching this demo:
