TREA Ventures
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Parashift teams up with UiPath to bring superior document intelligence into RPA projects

Robotic Process Automation is a powerful technology to automate tedious and repetitive tasks. To unleash its full potential, however, accurate, fast and cheap document extraction is indispensable. The partnership of Parashift with industry leader UiPath is therefore set to drive further adoption.

Sissach, Basel-Landschaft (Switzerland), 22.09.2020 — Parashift, a provider of modern, machine learning-powered document extraction software, has just announced an advanced technology partnership with UiPath, the leading enterprise Robotic Process Automation (RPA) software company, meant to improve end-to-end automation across industries worldwide. Together, Parashift and UiPath offer a solution that enables more comprehensive process automations and empowers businesses to increase operational efficiency, bringing together the benefits of RPA and Document Capture to drive meaningful business outcomes.

“Businesses who are desperately looking for ways to reduce costs, increase productivity, process continuity and system efficiency are often turning to RPA. But the technology is only as good as the data provided. Since, according to Gartner, over 80% of corporate data is unstructured, solving the extraction problem is absolutely crucial. We are therefore very pleased to be working with UiPath to help drive digitalization forward,” said Alain Veuve, CEO of Parashift.

UiPath has a vision to deliver A Robot for Every Person, one where companies enable every employee to use, create, and benefit from the transformative power of automation to liberate the boundless potential of people. Only UiPath offers an end-to-end platform for hyperautomation, combining the leading Robotic Process Automation (RPA) solution with a full suite of capabilities that enable every organization to scale digital business operations at unprecedented speed. The company has already automated millions of repetitive tasks for over 65% of the Fortune 500 and 8 of the Fortune 10.

Parashift’s versatile document extraction platform can be integrated in UiPath RPA projects using the Parashift Activity Pack. By combining these two best-of-breed software components, businesses can implement more diverse and robust business process automations. The resulting impact significantly reduces or even completely eliminates the necessity for manual interactions in document based tasks. So, the integration of the Parashift Platform extends the value of UiPath’s RPA technology by providing a cheaper and more resilient way to convert structured and unstructured data into machine-readable data, fueling the possibilities for hyperautomation across the organization.

To learn more about UiPath, please visit www.uipath.com.

About Parashift

Parashift AG, founded in 2018, is a deep-tech company focusing on the autonomization of document extraction through machine learning. Parashift is based near Basel (Switzerland) and employs around 20 people in the field of machine learning engineering and development. Forbes named Parashift 2019 as one of 30 promising AI startups in Europe.

https://parashift.io/

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