Parascript has announced new auto-classification capabilities with the launch of its next generation software. Parascript Document Classification 2.0.

“We’re placing the power of document auto-classification in the hands of business users,” Mark Gallagher, Vice President of Sales, claims.

“On the one hand, you don’t have your team spending hours manually reviewing and organising documents in the system. On the other hand, you don’t have to employ a team of programmers to auto-classify your documents. It’s advanced classification functionality that’s straightforward to use.”

Parascript Document Classification 2.0 advances beyond batch classification, which is limited to organising pre-defined sets of documents in an established order. The company says most classification software relies on one type of classification method over another, which limits the types of documents and how accurately they can be processed.

Parascript automatically applies multiple techniques including algorithms that process visual, text, or glyph-like elements such as signatures or logos in order to classify documents based upon all the available information. All of this allows results to be highly accurate with very low error rates.

Large organisations have many different types of documents and need to avoid expending employee resources to identify all document types. When applying Parascript Document Classification, it’s not necessary to manually review repositories for samples. By document clustering, the software groups documents automatically without samples.

Once samples are identified, it is no longer necessary to have examples of every document variant. For example with invoices, Parascript Document Classification can use a few samples, after which it can classify an invoice as an invoice and any variation of that invoice.

Engaging Subject Matter Experts (SMEs) to organise, classify, and maintain the taxonomies with ever-changing business rules are highly labour-intensive, ongoing activities that divert SMEs from their core tasks. Parascript Document Classification is automated and trainable.

With a few samples, the software automatically learns the features of a particular document class. The software applies the rules so that users don’t have to, establishes the necessary metadata, and is rapidly trained to classify hundreds of different documents all in random order.

“For the first time, enterprises can affordably and effectively address their document organisation workload,” said Greg Council, VP of Marketing and Product Management.

“With Parascript Document Classification, enterprises gain a comprehensive understanding of their document data lakes so that business users no longer expend resources manually organizing and reorganizing documents. Document data can now be optimally used, governed, defined, and secured.”

www.Parascript.com