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.”