Parashift

Document classification, extraction, and validation solution

About Parashift

Parashift is the world's first horizontal Intelligent Document Processing platform in the cloud.

Companies - from SMEs to large corporations - use Parashift to configure, classify and extract their business documents. The platform comes with more and more document types from different industries that can be consumed directly without configuration or training. According to this principle, the Procure to Pay solution already offers ten ready-to-use APIs. 30+ more are in preparation. To complement these, new, individual document types can be set up within minutes.

Pricing starting from:

Not provided by vendor

  • Free Version
  • Free Trial
  • Subscription

Top 5 alternatives to Parashift

Key benefits of Parashift

- Open and expandable Cloud-first solution that can easily be integrated into existing software landscapes and workflows
- "Out-of-the-Box" solution that enables template free document processing with various pre-configurated document types and pre-trained field types
- Customers receive fully validated data and therefore, save on internal follow-up validation work processes
- The setup and processes are all strictly GDPR compliant

Typical Customers

  • Freelancers
  • Small Businesses (2-50)
  • Mid-size Companies (51-500)
  • Large enterprises (500 and more)

Deployment

  • Cloud-based
  • On-premise

Markets

United Arab Emirates, Austria, Canada, Switzerland, Germany , Denmark, France, United Kingdom, Netherlands, Norway, Sweden, United States

Supported Languages

English, German

Pricing starting from:

Not provided by vendor

  • Free Version
  • Free Trial
  • Subscription

Top 5 alternatives to Parashift

Images

Parashift Software - Parashift Platform for Intelligent Document Processing
Parashift Software - First Horizontal Document Processing Platform
Parashift Software - Parashift Document Capture Process
Parashift Software - Parashift Document Swarm Learning
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Parashift Software - Parashift Platform for Intelligent Document Processing
Parashift Software - First Horizontal Document Processing Platform
Parashift Software - Parashift Document Capture Process
Parashift Software - Parashift Document Swarm Learning
Parashift Software - Parashift

Features

Total features of Parashift: 43

  • API
  • Access Controls/Permissions
  • Activity Dashboard
  • Aging Tracking
  • Approval Process Control
  • Archiving & Retention
  • Audit Trail
  • Barcode / Ticket Scanning
  • Collaboration Tools
  • Compliance Tracking
  • Data Aggregation and Publishing
  • Data Capture and Transfer
  • Data Extraction Software
  • Data Quality Control
  • Data Replication
  • Data Verification
  • Distributed Capture
  • Document Capture
  • Document Classification
  • Document Extraction
  • Document Generation Software
  • Document Imaging
  • Document Management Software
  • Document Storage
  • Duplicate Payment Alert
  • Electronic Signature
  • Email Address Extraction
  • File Conversion
  • File Sharing Software
  • Fraud Detection
  • Full Text Search
  • IP Address Extraction
  • Image Capture
  • Image Extraction
  • Invoice Processing
  • Optical Character Recognition
  • Phone Number Extraction
  • Pricing Extraction
  • Remote Data Capture
  • Reporting/Analytics
  • Secure Data Storage
  • Third Party Integrations
  • Web Data Extraction

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WebAutomation

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DocuPhase

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Reviews

Overall rating

4.9 /5
(12)
Value for Money
4.8/5
Features
4.8/5
Ease of Use
4.8/5
Customer Support Software
4.9/5

Already have Parashift?

Software buyers need your help! Product reviews help the rest of us make great decisions.

Showing 5 reviews of 12
Max
Overall rating
  • Industry: Real Estate
  • Company size: 2-10 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support Software
  • Likelihood to recommend 9.0 /10

Document extraction on property management platform

Reviewed on 30/04/2020

Pros

Fairwalter is a property management software. We use Parashift to extract and understand data from scanned documents so that processes (such as paying customers or reacting to tenant queries) can be automated. This is a hugely popular feature and the integration with the Parashift API was accomplished within a few days.

Cons

Data extraction works great for accounting related documents. Further property management-related use cases would bring great additional value for our company.

Martin
Overall rating
  • Industry: Leisure, Travel & Tourism
  • Company size: 51-200 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support Software
  • Likelihood to recommend 9.0 /10

Parashift for invoice recognition

Reviewed on 06/07/2020

We use Parashift for the extraction of invoices for a better workflow management and faster...

We use Parashift for the extraction of invoices for a better workflow management and faster processing all over the company. With parashift we save working time on distributing the invoice to the reponsible employee and also on transmitting invoice details in our backoffice system. With the given details of the invoices also our accounting will save time on allocation, because we can automate it.

Pros

It is an easy to implement API, so we get started really fast. The first results we had after some hours and in a week we were ready with the API communication. (Most time we needed to change our internal workflows and for automation processes)
All results are validated and within our tests they all were fine.
Support ist fast but not really needed.

Cons

All is ok for us, but you need to accept, that Parashift use external cloud services and external agents for validation. Because of validation it is also not a live-API, so you can not use it for instant billing.

Alternatives Considered

ELO ECM Suite

Reasons for Switching to Parashift

There are no high starting and fixed costs. It was easy to implement in existing processes. We stay independent, we can always stop using or switch over to another product, if we need. (We do not hope so)
Fabian
Overall rating
  • Industry: Information Technology & Services
  • Company size: 2-10 Employees
  • Used for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support Software
  • Likelihood to recommend 8.0 /10

Review from service integration experience

Reviewed on 24/07/2020

Pros

Parashift offers us a cutting edge service solution portfolio for document data extraction which is steadily evolving. With a combination of KI and shared service human review and correction of extracted data they seem to be able to deliver more accurate data as we have seen with other similar services. Lightweight JSON based API allows fast integration into our RPA solutions.

Cons

Could need some improvement with their interface and data structure documentation.

Hendrik
Overall rating
  • Industry: Furniture
  • Company size: 11-50 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support Software
  • Likelihood to recommend 10.0 /10

Only tool for SMEs to realize reliable and cost effective digital workflows for document...

Reviewed on 17/05/2021

Sympathetic team which thankfully has decided to focus on one of the most important aspects of...

Sympathetic team which thankfully has decided to focus on one of the most important aspects of digital document processing: Realiable extraction of document meta data.

Pros

Parashift offers accurate character recognition, extraction of document meta data and document categorisation at a cost which finally makes it attraktive for SMEs to use pure digital workflows.

With Parashift we experience a 100% acceptance of our users with newly digitalised work flows. The reason: The data is reliable and manual work of extracting meta data completely eliminated. Thus providing real improvement to the document handling experience for our users.

Great API documentation which allowed us to connect SharePoint without any support.

Cons

Areas of improvement are:

- Automated OCR switches to manual OCR when there is text in an embedded picture file in an otherwise text-based PDF. This creates room for transcription errors.
- On-site feedback system raising flags for Parashift developers and linking to a particular document would be great

Mattia
Overall rating
  • Industry: Venture Capital & Private Equity
  • Company size: 2-10 Employees
  • Used Weekly for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support Software
  • Likelihood to recommend 10.0 /10

Finally a flexible and intelligent document processing software that gets my documents done!

Reviewed on 31/03/2020

Pros

Parashift provides users with a comprehensive test environment that allows for fast and extensive testings of the functionalities. This way, we as a company were able to act quickly and speed up the evaluation process to eventually get to a final decision. Today, thanks to a different approach in terms of the underlying technology and complementary validation processes at Parashift, we can scan everything from offers to accounts payable vouchers, receipts, and other documents and get back correct data for an affordable price. Really rad! And all this without any ramp up phase or expensive setup costs. We simply integrated the well documented API into our existing software and workflows ourselves and we were good to go. With the fully validated meta data, we are now capable of gradually increasing the automation rate of our shadow processing across accounts which resulted in significant time and cost reductions after a few months of software usage already.

Cons

I actually can’t identify any disadvantages so far.

Showing 5 reviews of 12 Read all reviews

Parashift FAQs

Below are some frequently asked questions for Parashift.

Parashift offers the following pricing plans:

  • Pricing model: Subscription
  • Free Trial: Available

We provide customers with four tiers, tailored to their individual document automation needs. For those who just want to jump in and play with document AI, the monthly entry price is 75 (charged annually) and includes a document volume of 500 per month.

Parashift has the following typical customers:

51-200, 201-500, 501-1,000, 1,001-5,000

Parashift supports the following languages:

English, German

Parashift supports the following devices:

Parashift integrates with the following applications:

DocuWare, ELO ECM Suite, JobRouter, M-Files, Office 365 Document Management, Salesforce Platform, ServiceNow, SharePoint, Symfact, UiPath, docuvita

Parashift offers the following support options:

Email/Help Desk, FAQs/Forum, Knowledge Base Software, Phone Support, Chat

Related categories

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