Quik! is launching an OCR-as-a-Service solution, FormXtract, a highly anticipated, artificial intelligence-enhanced data extraction service for operations managers, transaction processing teams, compliance professionals, and anyone processing complex forms in a variety of formats. FormXtract eliminates the need for repetitive, time-consuming manual data handling.

With FormXtract, operations teams outsource the process of extracting field data from completed forms to reduce the burden on their own high-value personnel, increase processing speed, reduce errors, and capture revenue faster.

It starts with Quik! fully managing your forms by applying a standardized data field naming convention - supporting more than 1.2 million field names- to your forms. Unlike traditional OCR (Optical Character Recognition) solutions, FormXtract relieves customers from having to manage field mapping changes as their forms evolve.

Quik! forms are -built to leverage the latest advances in AI and OCR technology to read handwritten, printed, digital and e-signed documents with the same quality results.

As an API-based service, Quik! promises up to 99.9% accuracy on extracted data that is ready to use in the customer’s systems.

“Too often, operations teams have to spend their valuable time reading over incoming paperwork instead of doing their most important work,” said Richard Walker, CEO and Co-founder of Quik!

“With FormXtract, operations teams can now spend time on compliance, verifications and performing the tasks associated with the paperwork instead of deciphering and keying in data. Quik! is bringing the power of AI to perform a vital role in operational tasks, so customers can focus on actually processing transactions. It’s a transformative moment for any company that must process business via forms.”

With over 20 data points per form field extracted, FormXtract’s capabilities go well beyond simple data extraction. It provides clients with insightful contextual information about data processed, streamlining decision-making and unlocking firms’ full potential for growth and client service.

“FormXtract doesn’t just provide data; it provides information about the data,” said Don Cron, Chief Operations Officer at Quik! “It’s an incredible technology. We’re serious about responsibly reducing the burden of data extraction, processing, and form review for the operations teams that handle paperwork by providing data that is more accurate, faster to process and scales quickly to

https://www.quickforms.com/formxtract