Parashift built a software with artificial intelligence to handle documents. Unlike its competitors, Parashift offers 100% correct extraction of data from paper documents. Further, they shifting paradigm how documents are handled in future. After 2 years of science basic research with PhD in mathematics, Engineers etc. they launched this year their platform.

Today, many companies are still processing most of their daily document inflow manually. This is not only very time consuming and expensive, but not necessary any-more. Parashift provides companies sophisticated solutions based on machine learning technologies for their individual needs. Empowered by these technologies, companies benefit from time and cost reduction by up to 80% related to document management processes. In the process of getting product-market fit, Parashift has built a proprietary artificial intelligence data extraction engine that enables customers to send random, unprepared receipts and invoices to a developed platform which then undergoes a quality enhancement before the engine makes document classifications and full data extractions with implemented confidence checks. Customers then have the optionality to do either a self-validation process on low confidence documents or make us of Parashift’s offer to validate GDPR compliant results, using a combination of technological and human measures.

SoftCo is a global organization that specializes in delivering powerful and innovative financial process automation solutions. Our comprehensive suite of technologies enables organizations to increase productivity, reduce costs, and meet compliance obligations effectively. By automating key processes such as Procure-to-Pay, Accounts Payable, Payments, Vendor Management, and Contract Management, SoftCo ensures streamlined operations on a common platform. This allows our customers to seamlessly expand and grow within the SoftCo ecosystem.

With 1 million business users worldwide spanning across all industry sectors, SoftCo’s DNA lies in Procure-to-Pay expertise. We build our smart technology with this domain knowledge delivering fast, straight through and touchless processing. We are committed to understanding our customers’ unique business challenges and deliver solutions that go beyond their expectations. We are proud that all our projects are successful and that our market-leading technology provides our customers with the highest levels of Touchless Invoice processing resulting in the greatest cost savings.