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Announcement posted by Xtracta 29 Jul 2015

By going online to Xtracta’s website at http://www.xtracta.com people interested in the function of the Xtracta App, an extraction technology with an artificial intelligence system, can follow their extraordinarily well presented timeline, which is interesting of itself.   

Xtracta’s founder, Jonathan Spence, explains that his interest in artificial intelligence resulted from his experiences as an end user of data extraction software. Jonathan had been working in the scanning bureau industry for a number of years and, while at the time, many bureaus focused on the volume of documents they can scan, the bureau where Jonathan was based had a philosophy of placing greater importance of data within the documents. Thus there was a great need for good software to capture this data. Jonathan, as IT manager, had a key responsibility to choose, deploy and maintain these data extraction systems. The bureau was processing millions of documents every month, thus getting the right software was critical to how well their operations ran.

Through his experiences with using established software packages to perform this function, Jonathan became highly frustrated at the staleness of the market with low levels of innovation, high cost and extremely high complexity. Since data extraction was a crucial aspect to the bureau's service, having great quality software which wasn't prohibitively costly was extremely important.

Driven by the desire to make great quality, innovative software that was easy to use, easy to deploy and low cost, Jonathan started Xtracta to develop what is now known as the Xtracta App. The bureau had also been a pioneer in the area of enterprise SaaS and it was becoming obvious at the time that SaaS was to be a huge paradigm shift in the software industry. After extensive planning, specification writing and concept designs were in place - development began in mid-2010 and led to the first version of the software being released.

With a re-pivot of the company to focus on providing the API to any app that wants to provide data extraction to their clients, Xtracta is building a large vendor base who will be using their technology to launch auto extraction capabilities in their software through 2015.