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$Exela Technologies, Inc.(XELA)$ XELA

Exela Technologies, Inc.

Mon, July 12, 2021, 7:30 PM

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.”