Before we talk about Parascript, let’s first philosophize for a quick minute.
One of Encapture’s core areas of differentiation (vs. traditional capture) is that it “works well with others.” A good intelligent capture platform, in our opinion, should enable an organization to leverage best-of-breed, third-party technology to create the ideal solution for their use case. Many traditional capture companies force customers into a single technology stack — their own. Consequently, many customers aren’t able to fully automate their workflows given the limitations of that particular traditional, legacy platform.
While we have tremendous pride in what we’ve built into Encapture, we also humbly admit we’re not going to be the best at everything for everybody. As a horizontally-focused product (ie, Encapture works across many industries), our customers are constantly bringing us to use cases that we can partially enable but not fully solve.
Our ethos is to find technology partners that complement our core value proposition (making document automation easier) and embed those capabilities into the Encapture platform. Ultimately, our goal is to create an ecosystem of fantastic partners that each have their own sweet spot and to enable customers to access those capabilities via Encapture.
The implication of this approach is really meaningful to our customers, as it doesn’t tie them to anyone’s solution for document automation. As machine learning evolves and improves, Encapture should allow customers to take advantage of new players coming to market while not having to replace their existing processes. It’s much easier to leave front-line systems in place while improving the back-end automation versus re-orchestrating the entire workflow by moving to a new platform.
So, back to Parascript.
A common use case for our customers is the need to pull data out of documents that contain handwriting — either written text or signatures. Most capture platforms use commoditized OCR technology (including us!) to read machine-generated text, but very few have solid handwriting capabilities.
As we tested the different players in this space, it quickly became clear that Parascript is the leader in handwriting technology. Their ability to pull written text and process it is second to none, as is their ability to detect and validate signatures.
Our integration with Parascript allows customers to automate data extraction of handwritten text and signatures as part of their current capture workflow. Currently, we’re working with a super-regional bank to enable signature verification as part of their FDIC Part 370 initiative. Our customer uses Encapture to acquire and process the documents, and Encapture sends the relevant pages to Parascript to detect the presence of signatures. Encapture then routes that data and the associated document to the bank’s repository and several workflow systems. This bank expects our solution to ensure proper FDIC compliance while saving substantial time and cost compared to the manual process in place today.
So, more to come from us on the integration front. We’re excited to have Parascript as a partner, and we’re working hard to bring new automation capabilities into our platform.
Encapture can improve your organization’s productivity, while it also integrates with your CRM, ERP, or any other system where you need quick access to documents. Let’s work together to save your company time and money.