Parascript, LLC, the image analysis and pattern recognition technology provider, today announced that it has partnered with Engineering Innovation, Inc. to deliver Parascript Optical Character Recognition (OCR) software to Address N' Mail. Privately owned, Address N' Mail, is using the integrated solution to obtain greater discounts and efficiency in processing mail at its Melbourne, Florida facility and has obtained a return on its investment in nine months.
Address N' Mail has been using Engineering Innovation’s EZ-Flats OCR Lite system—which incorporates Parascript AddressScript CM as a single OCR engine, achieving address recognition and interpretation rates of 95 percent—to read machine print and handwritten addresses. While EZ-Flats transport is able to process 700 to 1,000 flats per hour, it is also beneficial for mailers, such as Address N' Mail, with smaller volumes of 2,000 to 4,000 flats per week. EZ-Flats tracks every mail piece to its maximum discount level for easy verification and billing.
Address N' Mail was looking for the most cost-effective solution for obtaining postal discounts in processing its small mail volume. Before implementing EZ-Flats with Parascript’s AddressScript CM, the mailer was manually feeding mail and was not able to obtain the discounts. After purchasing the solution it was able to obtain a postal discount of $900 per week on average and a return on investment within nine months of operations. Address N' Mail was able to increase customer satisfaction with faster processing times while maintaining a low degree of investment risk.
"The EZ-Flats system with Parascript’s AddressScript OCR is absolutely the most cost-effective system for earning the maximum discounts on First Class Flats,” said Chuck Green, president of Address N' Mail. "With discount on First Class Flats now as high as 46.6 cents, we can earn more on a weekly run of 4,000 mixed-weights flats than on 40,000 letters."
Engineering Innovations delivers the EZ-Flats systems with Parascript’s best-of-class OCR technology. AddressScript CM automatically reads addresses with the highest read rates achievable, greatly reducing time, cost and labor commonly associated with mail processing. It captures entire flats images or address block images from an envelope, mailing label or parcel to efficiently process the entire mail stream. It reads any character type—cursive, handprint and machine print—in any combination to provide a universal address recognition and validation solution.
"At Engineering Innovations, we are always looking for ways to enhance our technology and offerings to increase efficiency in mail processing. Parascript employs industry-leading technology, and we are happy to partner with the best to offer small mailers best-of-breed OCR technology," said Ron Robbins, CEO of Engineering Innovations, Inc.
“In today’s economic environment, businesses are continually looking for ways to increase efficiency and decrease costs. Parascript is proud to be an Engineering Innovation partner to meet these mail processing needs of small and medium sized mailers,” said Kaz Jaszczak, director of product planning and operations.
About Parascript, LLC
The Parascript image analysis suite (parascript.com) extracts meaningful information from images. Employing patented digital image analysis and pattern recognition technologies, the Parascript image analysis suite improves decision quality in medical imaging, postal and payment automation, fraud detection, and forms processing operations. Parascript software processes over 100 billion imaged documents per year. Fortune 500 companies, postal operators, major government, and financial institutions rely on Parascript products. Organizations include the U.S. Postal Service, Böwe Bell + Howell, CheckFree – now part of Fiserv, Elsag, Lockheed Martin, NCR, Siemens, and Unisys.