Exela Technologies Expands its Offering of Robotic Process Automation with Intelligent Document Processing
July 12 2021 - 7:30AM
Exela Technologies, Inc. (“Exela” or “the Company”)
(NASDAQ: XELA), a global business process automation (BPA)
leader, today expands its offering in AI-enabled automation in the
BPA space with Intelligent Document Processing (“IDP”) combined
with its robotic process automation platform (“EON”). This industry
leading automation solution is deployed in the healthcare and
public sector and further cements Exela as one of the leaders in
the industry
.
IDP enables the automation of document classification, data
extraction and data routing into a cloud or on-premise hosted
service portal that provides a containerized, dynamically scaling
solution that can be accessed from anywhere on-demand. Using
the IDP system, Exela has begun leveraging an extensive and growing
library of machine learning based classifiers that significantly
augment the automation of document processing in the healthcare and
public sector and has plans to ramp up projects in the finance and
legal sectors soon. The IDP solution includes a modernized data
entry solution that delivers rule-based, character-level data
correction capabilities that dramatically reduces the keystrokes
needed to meet customer service level targets. The IDP manual entry
solution enables Exela to leverage manual entry operators working
from anywhere while preserving data security using a proprietary
snippet routing engine.
In addition, EON can automate simple or complex
workflows to achieve efficiency and accuracy gains, as well as free
up human capital for higher-value uses. EON provides automation for
both attended and unattended automation deployments.
“Exela continues to iterate and advance solutions to meet our
customers' changing needs,” said Suresh Yannamani, Exela’s
President. “The latest IDP and EON combination embraces the
evolving work from anywhere environment that customers and their
employees are embracing.”
About Exela Technologies
Exela Technologies is a business process automation (BPA)
leader, leveraging a global footprint and proprietary technology to
provide digital transformation solutions enhancing quality,
productivity, and end-user experience. With decades of experience
operating mission-critical processes, Exela serves a
growing roster of more than 4,000 customers throughout 50
countries, including over 60% of the Fortune® 100.
With foundational technologies spanning information management,
workflow automation, and integrated communications, Exela’s
software and services include multi-industry department solution
suites addressing finance and accounting, human capital management,
and legal management, as well as industry-specific solutions for
banking, healthcare, insurance, and public sectors. Through
cloud-enabled platforms, built on a configurable stack of
automation modules, and over 18,300 employees operating in 23
countries, Exela rapidly deploys integrated technology
and operations as an end-to-end digital journey partner.
Forward-Looking Statements
Certain statements included in this press release are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as "may", "should", "would", "plan",
"intend", "anticipate", "believe", "estimate", "predict",
"potential", "seem", "seek", "continue", "future", "will",
"expect", "outlook" or other similar words, phrases or expressions.
These forward-looking statements include statements regarding our
industry, future events, estimated or anticipated future results
and benefits, future opportunities for Exela, and other
statements that are not historical facts. These statements are
based on the current expectations of Exela management and
are not predictions of actual performance. These statements are
subject to a number of risks and uncertainties, including without
limitation those discussed under the heading "Risk Factors"
in Exela's Annual Report and other securities filings. In
addition, forward-looking statements
provide Exela's expectations, plans or forecasts of
future events and views as of the date of this
communication. Exela anticipates that subsequent events
and developments will cause Exela's assessments to
change. These forward-looking statements should not be relied upon
as representing Exela's assessments as of any date
subsequent to the date of this press release.
Investor and/or Media Contacts:
Vincent
KondaveetiE: vincent.kondaveeti@exelatech.comT:
929-620-1849
Mary Beth BenjaminE: IR@exelatech.comT:
646-277-1216
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