Parascript, a pioneer in intelligent data extraction, today announced the availability of Parascript OnDemand through a technology partnership with MachineShop, a provider of API-based services for integrating a wide range of enterprise data, applications and workflows. This partnership combines Parascript’s transactional data extraction processing with the MachineShop software and cloud infrastructure. The new offering allows organizations to meet their mobile, SaaS and enterprise needs to locate and extract key data from invoices, checks and receipts. The ease-of-use and simplicity of Parascript OnDemand will further drive the adoption of highly accurate, automated invoice, check and receipt processing by small and mid-size businesses across industries.

“A continuing trend with most technology is to make it simpler to adopt. The migration of legacy APIs to Web-based services is the way to do that. Parascript was looking for a best-of-breed partner to help us establish Parascript OnDemand. MachineShop is a pioneer in cloud-based integration and APIs so they are the perfect match. This allows us to focus on superior classification and data extraction,” said Greg Council, the Vice President of Marketing and Product Management at Parascript. “The partnership has huge potential to extend our reach in the marketplace and enable every organization to speed the processing of payments and other transactions.”

The Parascript OnDemand solution provides a highly-scalable API-as-a-Service for systems integrators, mobile app developers and SaaS application providers to easily add high-quality transactional data location and extraction capabilities to business workflows. By partnering with MachineShop, Parascript OnDemand leverages MachineShop’s highly-scalable Web API integration platform that serves as the transaction-based backbone to the Parascript solution.

Each transaction is closely monitored and shepherded through the process in order to support the most stringent service level requirements without the typical high operational costs. By adding a few lines of code, any business can enable its application to submit invoices, checks and receipts to the API and receive key business data back in real-time without having to manage complex data extraction logic or performance scaling.

“Customers only need about four lines of code to begin using the service that automatically processes their invoices, receipts and checks,” said Mr. Council. “We make it easy.”

“We are very excited to partner with a market-leader like Parascript,” said MachineShop CEO Michael Campbell. “Parascript OnDemand is a logical evolution of their capabilities and a powerful way to deliver sophisticated enterprise Software-as-a-Service.”

Parascript OnDemand automatically scales from the smallest needs to the largest production environments. Users of the service pay for what they use so Parascript OnDemand offers low risk and low cost of entry. Together, Parascript and MachineShop are introducing the next level of top quality, highly scalable transactional web API data services to businesses regardless of location or size.

About Parascript, LLC
Parascript automates the extraction of meaningful, contextual data from image and document-based information to support transactions, information governance, fraud prevention, and business processes. Parascript Artificial Intelligence (AI) 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. Parascript offers its technology both as software products and as software-enabled services to our partners. Our BPO, service provider, OEM and value-added reseller network partners leverage, integrate and distribute Parascript software in the U.S. and across the world. Visit Parascript.

About MachineShop

MachineShop is an enterprise software company completely focused on simplifying the way organizations integrate and act upon operational data and the systems that generate it. MachineShop’s offering is a collection of API-based services and tools for data acquisition and integration, device management and application enablement. Through its “Internet of Services,” organizations can bridge the chasm between connected Operational Technology (OT) and their IT business systems and customer applications. MachineShop is the only software company that provides a common framework for deploying and managing data services at the Edge and in the Cloud. To learn more, visit MachineShop or follow us on Twitter @MachineShopIO.