Parashift

Document classification, extraction, and validation solution

About Parashift

Parashift enables automated classification and data extraction of various business documents. No setup, no configuration, no follow-up validation, and no basic fee. Customers simply integrate the functionalities via REST API and can start processing from the get go.

The first product, the Purchase to Pay Suite, comes with the most important document types and extraction fields that allow for the following exemplary use cases:

- Automated data entry of delivery notes, orders, invoices, or credit notes (and more).
- Automated billing reconciliation against order data or contracts either on total amount or also detailed on the line items.
- Automated processing of of invoices enabled by order reconciliation and all data for entire accounting data respectively suggestions.

Empowered by our machine learning technologies, companies benefit from significant time and cost reductions in document management processes. Moreover, Parashift unlocks completely new business opportunities that were yet untapped, allowing for greater value generation for customers.

Pricing starting from:

US$0,07/one-time

  • Free Trial
  • One Time License

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

Devices

Business size

S M L

Markets

Canada, Germany, United States

Supported Languages

English, French, German

Pricing starting from:

US$0,07/one-time

  • Free Trial
  • One Time License

Images

Validation User Interface
Document Type Editor
View 3 more
Parashift video
Parashift video
Parashift video
Parashift screenshot: Validation User Interface Parashift screenshot: Document Type Editor

Features

Total features of Parashift: 46

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

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Reviews

Overall rating

4,8 /5
(6)
Value for Money
4,8/5
Features
4,7/5
Ease of Use
4,8/5
Customer Support
5/5

Already have Parashift?

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

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Showing 5 reviews of 6
Max W.
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
  • Likelihood to recommend 9.0 /10

Document extraction on property management platform

Reviewed on 2020/04/30

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 J.
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
  • Likelihood to recommend 9.0 /10

Parashift for invoice recognition

Reviewed on 2020/07/06

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.

Tristan F.
Overall rating
  • Industry: Information Technology & Services
  • Company size: 51-200 Employees
  • Used Daily for 1-5 months
  • Review Source

Overall rating

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

OCR

Reviewed on 2021/02/18

Pros

Invoice extraction made easy! Parashifts platform is really easy to integrate into business processes. The API is restful and intuitive.

Cons

The API still needs some features. I got in touch with the team and they said they will add them shortly which is great.

Fabian W.
Overall rating
  • Industry: Information Technology & Services
  • Company size: 2-10 Employees
  • Used Other for 1-5 months
  • Review Source

Overall rating

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

Review from service integration experience

Reviewed on 2020/07/24

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.

Mattia R.
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
  • Likelihood to recommend 10.0 /10

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

Reviewed on 2020/03/31

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 6 Read all reviews

Parashift FAQs

Below are some frequently asked questions for Parashift.

Parashift offers the following pricing plans:

  • Starting from: US$0,07/one-time
  • Pricing model: One Time License
  • Free Trial: Available

We provide customers with an on-demand or a package model. The price per document starts at $0.07.

We do not have any information about Parashift features

Parashift has the following typical customers:

51-200, 201-500, 501-1 000, 1 001+

Parashift supports the following languages:

English, French, German

Parashift supports the following devices:

Parashift integrates with the following applications:

DocuWare, ELOprofessional, UiPath, docuvita

Parashift offers the following support options:

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

Related categories

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