Exela Technologies Expands its Offering of Robotic Process Automation with Intelligent Document Processing
Exela Technologies (NASDAQ: XELA) has expanded its offerings in AI-enabled automation through the launch of Intelligent Document Processing (IDP) integrated with its robotic process automation platform, EON. This solution targets the healthcare and public sectors while planning expansions into finance and legal fields. IDP enhances document automation via machine learning classifiers, improving efficiency and accuracy. Exela positions itself as a leader in business process automation, serving over 4,000 clients across 50 countries and over 60% of the Fortune 100.
- Launch of Intelligent Document Processing (IDP) enhances AI-enabled automation capabilities.
- IDP aims to improve document processing efficiency in healthcare and public sectors.
- Plans to expand IDP into finance and legal sectors increase revenue potential.
- Exela serves a diverse client base, including over 60% of Fortune 100.
- None.
IRVING, Texas, July 12, 2021 (GLOBE NEWSWIRE) -- 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
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 Kondaveeti
E: vincent.kondaveeti@exelatech.com
T: 929-620-1849
Mary Beth Benjamin
E: IR@exelatech.com
T: 646-277-1216
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