ORANGE, CA—NextAce has released NeXtraction, an adaptable data-capture engine and related workflow that instantly turns document images into actionable data and information. The technology effectively gives access to data from recorded documents, loan-origination packages and other documents of any length and at remarkable speeds and is being billed as a major advance in document extraction for the mortgage, real estate and title-insurance markets.
The automated functionality of NeXtraction allows customers to index, extract, catalog, understand and deliver information intelligently from structured, semi-structured or unstructured documents, while also replacing or reducing costly and time-consuming manual or offshore keying initiatives in place today, according to the firm.
According to Don Cantral, CEO of NextAce, “NeXtraction makes possible the true harnessing of data.” He tells GlobeSt.com, “Data extraction for commercial real estate has been generally limited to scraping property flyers of their valuable data to crate proprietary digital databases or the incorporation of some type of business intelligence to mine existing databases to create CRE collateral or spreadsheet analyses. NeXtraction goes beyond these helpful yet baseline 'data-capture' capabilities to get at what has formerly been stuck in what we call 'unstructured' documents.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.