Parascript Launches FormXtra 6.0 With New Receipt Data Extraction

Parascript solves the challenge of receipt management with FormXtra 6.0 Receipt Data Extraction

Longmont CO (PRWEB) - Today, Parascript has launched FormXtra Capture (FXC) 6.0 with a new Receipt Data Extraction Module and a rich set of additional features that streamline document processing.

An extraordinary number of receipts are printed worldwide each year. Receipts are essential for proof of purchase verification and expense reimbursement, and provide important spending data. They come in every format—paper, electronic, machine print and hand-written—with highly variable layouts. Managing receipts has always been a time-consuming headache because of the quantity and variety of receipts that require processing without a good solution to deal with all of them, until now.

The FXC Receipt Data Extraction Module offers the industry’s most accurate solution, a powerful add-on module that enables organizations to easily classify and extract key data on retail receipts, receipts with handwritten tips and totals, and hotel bills. Parascript provides a Windows SDK and Web Service that allows images of receipts captured from desktop scanners, portable scanners, and mobile devices to be classified with key data located and extracted from the receipt. Businesses use extracted receipt data for expense management, tax preparation, and purchasing analysis. Valuable information on receipts is automatically located and processed by Receipt Data Extraction.

“The beauty of FormXtra has always been that it processes all types of data—structured, semi-structured, unstructured, and zone-based data—and it captures everything from machine print, constrained and unconstrained handprint to complex cursive more accurately than other solutions,” said Greg Council, VP of Marketing and Product Management. “With this new feature set and the Receipt Data Extraction Module, FormXtra becomes the game-changer in ease-of-use, setup and out-of-the-box capabilities for many customers.”

Despite the fact that receipts are highly variable in terms of both layout and the types of data, Receipt Data Extraction locates and interprets key data such as vendor, date, subtotal, tax, tip, total (both machine print and handprint), payment type, city, state, zip, and phone. Handwritten information such as tips and totals are often part of a receipt. This powerful module accurately handles variable layouts and handwritten data, enabling businesses to automatically acquire, classify, and extract all the receipt data.

The Next Step in Smart Business Processing - FormXtra Capture 6.0

In addition to Receipt Data Extraction, FormXtra Capture 6.0 offers new administration and data validation features for easy deployment and data quality workflow optimization. Businesses can immediately deploy their software enterprise-wide and implement their data quality requirements using FormXtra Capture for data validation. Specific additional FormXtra Capture 6.0 features include:

THIN CLIENT ADMINISTRATION AND DATA VALIDATION - accelerates product deployment by removing the need to install client software on potentially hundreds of workstations.

INTERACTIVE DATA VALIDATION - allows businesses to control data quality workflows before, during, and after reviews and audits using sophisticated business rules hosted via the browser. Businesses can easily implement specific data quality requirements with the new software, improving both efficiency and data quality.

ADVANCED DATA VALIDATION - streamlines presentation of both the data and the data entry fields in identical format for rapid validation of formatted data such as tables and addresses. Additionally, dual support for both document-centric and field-centric data validation ensures that businesses take advantage of sophisticated load-balancing, performance monitoring, automation, and field-level security to support a wide variety of data capture needs.

FULL REST WEB SERVICE REPORT AND ACCESS - provides customers with simpler, expanded integration options for document import/export and document processing workflows.

RELATIONAL DATABASE IS OPTIONAL - allows deploying a full document capture and data extraction workflow without requiring the complexity of a relational database. This lowers the barrier to entry since businesses of all sizes can start small with minimal software and hardware costs and expand to an RDBMS as their needs change.

FormXtra Capture supports high-volume, complex, document processing needs, and delivers flexibility for processing rules and workflows. Smaller organizations can also implement FXC without the significant upfront investment often found with other capture products, and continue to use it as they grow.

About Parascript, LLC
Parascript automates data-intensive image and document processing activities, enabling organizations to increase efficiency and productivity at reduced cost. Parascript software processes any document with any data from any source with its easy-to-use, image-based analysis, classification, data location, and extraction technology. More than 100 billion documents for financial services, government organizations, and the healthcare and life sciences industry are analyzed annually by Parascript software. Our OEM and value-added reseller network partners integrate and distribute Parascript software in the US and across the world. Visit Parascript online at http://www.Parascript.com