Exela Technologies, Inc. (XELA) stock prices were up 4.48% shortly after the opening of market trading on July 12th, 2021, bringing the price per share up to USD$3.04.
Expansion of Offerings
July 12th, 2021 saw the company announce the expansion of its offering of AI-enabled automation in the BPA space. The company will do this via the combination of its Intelligent Document Processing with its robotic process automation platform. The automation solution will be a frontrunner of the industry and will be deployed in the healthcare and public sector, further consolidating XELA as an industry leader.
Intelligent Document Processing
Intelligence Document Processing will enable the automation of document classification, data extraction, and data, made possible by the routing into a cloud or on-premise hosted service portal. This portal can be accessed from anywhere at any time, facilitating the provision of a containerized, dynamically scaling solution.
Utility of IDP
The use of the IDP system allows the company to leverage its extensive and growing library of machine learning-based classifiers. These classifiers substantially enhance the automation of document processing in the healthcare and public sector. XELA has plans to increase the scope of its projects in the finance and legal sectors in the short term future. The solution includes a modernized data solution build on the delivery of rule-based, character-level data correction capabilities that serve to drastically reduce the keystrokes required to meet customer service level targets. The IDP manual entry solution allows the company to leverage manual entry operators that can work remotely from anywhere while preserving data security using a proprietary snippet routing engine.
Combination with EON
Furthermore, EON will facilitate the automation of simple or complex workflows to usher in efficiency and accuracy gains, while also freeing up human capital to be allocated towards other higher-value uses. The automation platform facilitates the automation of both attended and unattended automation deployments. The company continues to expand its portfolio of solutions to meet the changing requirements of its consumer base, with the latest IDP and EON combination embracing the evolution of work to an accessibility-oriented environment that customers and their employees having been embracing since the onset of the global pandemic.
Future Outlook of XELA
The company is poised to capitalize on the opportunities afforded to it in regard to the development of its offerings. With a focus on hasty commercialization and effective proliferation of its products, the company is keen to usher is substantial and sustained increases in shareholder value.
